If your venture is located outside of one of the traditionally entrepreneurial mega-cities (Boston, Bangalore, Beijing, etc.), how can you best benefit both your company and the community? According to Daniel Isenberg, Babson professor of entrepreneurship, it comes down to one word: Growth.
By growing quickly, communicating that growth systematically, and training community leaders to add support and capacity for local scale up entrepreneurship, entrepreneurial ventures – whether they are 3rd generation businesses with new ambition or startups – can be as beneficial for their city or region as they are for stockholders. For a real-world example, Isenberg looks at the case of Manizales, Colombia, where a coalition of local institutions and the Babson Entrepreneurship Ecosystem Project (BEEP) came together to form Scaling Up Manizales. The stated goal of Scaling Up Manizales, “revolutionizing the pursuit of opportunity,” resulted in the creation of more than 1033 jobs across a variety of businesses.
To learn more about Scaling Up Manizales, read the full Harvard Business Review article. If you think your organization could benefit from Dr. Isenberg’s expertise, contact us.