If you were asked what can be done to improve things (economically) locally without having to rely on the actions of outsiders, what would be your response? I was at a presentation last week by the CEO and CFO of a company spending millions of dollars within our region. They justified the company’s decision on investing this amount of money on the regions economy’s solid base, diversity of industry, collaborative opportunities, lack of major competitors in the market and potential demand for its offering. Having a one on one with the CFO afterwards he did however express concern over the softening of the local economy since their initial investment here in 2008. The mining boom/bust was discussed as an obvious factor and the hope that Adani offers, but the CFO was more interested about what we can do to improve things, not wait for outsiders to act. I’m not sure if he expected a specific response, however I felt compelled to give it a go. I spoke enthusiastically about creating a Youth Entrepreneurial Economic Zone (YEEZ) for the region and what that might encompass. Still excited by what I witnessed at the Youth Change Agent (YCA) event the week before I told him about that and how we need to not only foster developing an entrepreneurial spirit at primary and high school but by providing the right environment encourage youth to stay in the region when they finish their schooling. An environment that encouraged youth taking entrepreneurial risk, having access to mentor support and if one failed they weren’t left financially crippled. He then added that such an environment would attract other like minded youth here to. I thought to myself this guy is getting it. He then asked what was being done to make YEEZ a reality. The enthusiasm in my voice waivered as I gave general responses on having held a 3DS in town and plans for more YCA’s. There is no YEEZ implementation plan to plot progress against. I’m not sure what community support there is for YEEZ since proposing it some 3 years ago. As the Boulder Thesis (a recognised guide for building entrepreneurial eco-systems) highlights, without community support, initiatives like YEEZ, will not eventuate. It has to be driven by a bottom up approach, led by local entrepreneurs, not politicians or by the university. YEEZ is not an easy quick fix, but I believe it is a vital ingredient for our region’s long term improvement and sustainability. Anyone interested in helping develop a YEEZ implementation plan? Or what do you believe we can do to improve things locally?
The Boulder Thesis www.startuprev.com/the-boulder-thesis-a-theory-for-social-entrepreneurs/
Melissa Etheridge – wikipedia
http://www.smh.com.au/small-business/managing/the-venture/should-startups-be-paid-to-move-location-20170201-gu3lmx.html