The Appalachian Regional Commission (ARC) recently released three reports covering the Entrepreneurial Ecosystems in the 420 US counties federally classified as Appalachia. “Entrepreneurial ecosystem” is a term used to capture the formal and informal systems in a community that support and foster entrepreneurs. Recent research on economic development continues to show that healthy entrepreneurial ecosystems are necessary conditions for wealth creation and rural development.
Here is a quick guide to help you use the materials:
• Want to learn more about what an entrepreneurial ecosystem is, or why it matters? Read Entrepreneurial Ecosystems in Appalachia—Literature Review. This report will fill you in on how entrepreneurial ecosystems emerged as a popular framework within the realm of economic development, and how the framework interact with theories that have guided economic development practitioners over time. You’ll learn about the seven essential building blocks of a community’s entrepreneurial ecosystem—talent, market access, community culture, regulatory and government support, business assistance, capital and specialized infrastructure—and how those building blocks look in today’s Appalachia.
• Want to see what a vibrant entrepreneurial ecosystem looks like in Appalachia? Read Ecosystem Development Case Studies. You’ll get a deep delve into eight communities across Appalachia, each case study exploring the history of entrepreneurship in that place and the unique way that the seven building blocks of each ecosystem have come together to create a vibrant entrepreneurial community.
• Want to learn how the ARC, state and local partners can continue to support entrepreneurship in Appalachia? Read Building an Entrepreneurial Future: Ideas for Appalachia’s Ecosystem Builders and Champions. You’ll also get an overview of entrepreneurial dynamism (a set of metrics averaged to determine the strength of a community’s business base) in Appalachia and that dynamism compared to the nation as a whole.
Overall, the research points to the fact that there are both opportunities and challenges to creating healthy entrepreneurial ecosystems in Appalachia, particularly in Eastern Kentucky. As it has been for the past 42 years, MACED remains a committed partner in working towards brighter future for the region by both supporting entrepreneurial ecosystems and advocating for an economy that is more just, resilient and equitable.
