Oregon Rural Entrepreneurship Development Initiative REDI

GROWING OREGON ENTREPRENEURS

The Rural Entrepreneurship Development Initiativeaka REDI

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Business Oregon REDI Contacts: Janet Soto-Rodriguez Entrepreneurship Strategist [email protected] (971) 336-0341 Heather Stafford Assistant Director of Innovation & Entrepreneurship [email protected] (503) 319-4839

Imagine...

…that every entrepreneur has access to high-quality resources, tools, mentoring, and capital to launch, grow, and scale a viable business, no matter where they live or who they are.

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Oregon’s Statewide Goal: Grow Our Own Ensure that every would-be entrepreneur has access to high-quality resources, tools, mentoring, and capital needed to launch, grow, and scale a viable company that will strengthen Oregon’s communities and economy, no matter where they live or who they are.

So, what stands in the way of reaching this goal?

Inefficient network

Invisible services

Insufficient resources

Unequal access system

Current Barriers, which REDI overcomes…

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CHALLENGES Oregon entrepreneurs suffer from: a fragmented and inefficient technical resource system (multiple unconnected networks, agencies, and organizations that overlap and compete); hard-to-find, often invisible services, programs, and capital (isolated offices in dispersed locations all over a city); duplication, as well as insufficient business development programming; and, an unequally accessible system that over serves some and underserves most (services unequally distributed, insufficient expertise in rural, lack of commensurate programs for Native Americans, bi-lingual entrepreneurs, communities of color, women, youth, etc.).

From the entrepreneur’s perspective.“It’s all well and good to have programs and local advisors, but if I can’t find them, they’re not helpful to me.”

—Veronica Johnson, Entrepreneur, Baker City

Five Criteria for Success

# 1 - Connect existing dots# 2 - Strengthen Local capacity and increase visibility# 3 - Include all service providers# 4 - Build in financial sustainability# 5 - Ensure all stages of business are supported

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Three Integrated Strategies

2 31Strategies

Make non-local resources accessible

Serve all stages of business from

startup to scale

Gather and make local resources

visible

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1) increase access to entrepreneurial resources locally—mentoring, access to capital, shared learning—in rural communities throughout Oregon 2) foster entrepreneurship ecosystems by leveraging technology. 3) ensure that the needed programs are accessible to each and every entrepreneur—all business stages, all backgrounds, and in all sectors. The ultimate goal is to create permanent, sustainable Entrepreneurship Development Systems (EDS) in rural Oregon

2 31Solutions

Centers for Entrepreneurship

Connected Technologies

Program Continuum

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1) increase access to entrepreneurial resources locally—mentoring, access to capital, shared learning—in rural communities throughout Oregon 2) foster entrepreneurship ecosystems by leveraging technology. 3) ensure that the needed programs are accessible to each and every entrepreneur—all business stages, all backgrounds, and in all sectors. The ultimate goal is to create permanent, sustainable Entrepreneurship Development Systems (EDS) in rural Oregon

“I have a local, accessible place where I can find what I need.”

Solution

#1

What would a Center include?1. Presence (centrally located, physical space)

2. Personality (local identity, name, look and feel)

3. People (staff to manage, deliver, and facilitate programs)

4. Programs (programs created locally and received from elsewhere)

5. Partners (local and state partnerships with key stakeholders)

6. Pathways (formal programs, activities between partners, real links)

7. Pipes (the technology that allows video conferencing in real time)

8. Profit (sustainable sources of income, membership, fees, sponsors)

9. Publicity (local awareness of the center, solid marketing channels)

10. Pride (leadership is proud of it, it works, and delivers as promised)

Welcome! There is an IP workshop starting in 10 min in the

conference room.

“I have access to local resources as well as distant experts.”

Solution

#2

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Local Centers for Entrepreneurship will reflect the local community, be centrally located and staffed by local technical service provider partners. Open access to the public, like a one stop center Statewide programs available locally Avaialble directory and local knowledge to navigate all statewide business resources Community of entrepreneurs supporting each other

A Program Continuum for Business Development

# 6 Grow# 5 Prune

# 4 Transplant

# 3 Feed

# 1 Seed# 2 Weed

Elevate thos e with

potential

Prepare for $ as k

Bus ines s planning

Am I cut outfor this?

I have an idea

Now working on my business

plan

I need specialized expertise

SEED WEED FEED TRANSPLANT PRUNE GROW

I’m raising capital for

growth

I need help getting ready

to launch

A Program Continuum to Grow Our Own

A Statewide Network of Centers for

Entrepreneurship

Strengthening our rural communities is a priority

La Grande

Baker City

Klamath Falls

Coos Bay

You might think we’d do it this way…

La Grande

Baker City

Klamath Falls

Coos Bay

Portland

But, Portland-centric resources aren’t the answer

La Grande

Baker City

Klamath Falls

Coos Bay

Portland

Enterprise

Redmond

Cottage Grove

Talent

Roseburg

Milton-Freewater

Hood RiverLa Grande

Baker City

Klamath Falls

Coos Bay

Dayton

Independence

BendEugene

Corvallis

Portland

Coos, Lower Umpqua

Coquille

Umatilla

Potential Future REDI Communities

Warm Springs

Burns-Paiute

Grand Ronde

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All these communities are currently preparing to get involved in the REDI initaitive.

...connected to each other via technology

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Now, once you can imagine the Centers being up and running, even in early stages, but with videoconferencing technology in place, programs can begin to flow easily. Program DELIVERY can happen at one Center, while program FACILITATION can occur at any Center where a cohort has formed. This allows a shared responsibility for a program, AND builds knowledge in real time for technical service providers.

The Outcome for Entrepreneurs: An Oregon that can grow its own.

I see what I need and where

to get it.

I’m connected with providers

and other entrepreneurs.

I feel valued as an entrepreneur in my community.

Oregon Rural Entrepreneurship Development Initiative REDI

Business

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