Faculty of Business, Justice and Behavioural Sciences SEGRA Challenge: Startups and Regional Ecosystems Prof Mark Morrison*, Prof Morgan Miles# and Dr Larissa Bamberry* * Faculty of Business, Justice and Behavioural Sciences, Charles Sturt University # Dept of Management, Marketing and Entrepreneurship, University of Canterbury
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SEGRA Challenge: Startups and Regional EcosystemsSEGRA Challenge: Startups and Regional Ecosystems Prof Mark Morrison*, Prof Morgan Miles# and Dr Larissa ... food security, mining
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Faculty of Business, Justice and Behavioural Sciences
SEGRA Challenge:
Startups and Regional Ecosystems
Prof Mark Morrison*, Prof Morgan Miles# and Dr Larissa
Bamberry*
* Faculty of Business, Justice and Behavioural Sciences,
Charles Sturt University
# Dept of Management, Marketing and Entrepreneurship,
University of Canterbury
Faculty of Business, Justice and Behavioural Sciences
Challenge background
Literature Review of the Elements of
Entrepreneurship Ecosystems in Regional Areas and
how to develop them
Three surveys:
Survey of Incubators, Accelerators and Business Support
Groups in Regional Australia – completed for NSW
Survey of Entrepreneurship Ecosystems in Regional
Australia – seeking funding
Survey of SEGRA Challenge Sites (Cairns and Atherton
Tablelands) – partially completed for Cairns
Faculty of Business, Justice and Behavioural Sciences
The Regional Context
Perceived that Australia’s regional areas face a
number of challenges to innovation (Perrem
2012):
Too small and geographically dispersed to achieve
critical mass
Government reducing R&D funding in major regional
industries
Lack of human capital
Faculty of Business, Justice and Behavioural Sciences
The Regional Context
However there are reasons to be optimistic:
• Larger regional firms perform as well as urban firms on
marketing and organisational innovation (Perrem 2012)
• Larger inner regional centres which have universities have
higher capacity to absorb and leverage innovation due to higher
levels of human capital
• RDCs based in regional Australia have the capacity to help
develop university-RDC-private sector research that can help
create and commercialise innovations
• Many areas of entrepreneurial opportunity – agriculture and
food security, mining and the resources sector, tourism and
others
Faculty of Business, Justice and Behavioural Sciences
What is an Entrepreneurial
Ecosystem?
“A set of interdependent actors and factors
coordinated in such a way that they enable
productive entrepreneurship” (Stam, 2015:
5)
Faculty of Business, Justice and Behavioural Sciences
Key elements, outputs and
outcomes of the entrepreneurial
ecosystem (Stam 2015)
Faculty of Business, Justice and Behavioural Sciences
Limitations of Stam’s Model
Excludes enterprising individuals that are
critical for entrepreneurship to occur
Excludes natural capital endowments which
are often critical framework condition for
regional communities
Faculty of Business, Justice and Behavioural Sciences
Augemented Model of Regional
Entrepreneurial Ecosystems
FRAMEWORK
• NATURAL CAPITAL
• Institutions
• Culture
• Infrastructure
• Demand
SYSTEMATIC
• ENTERPRISING INDIVIDUALS
• Networks
• Leadership
• Finance
• Talent
• Knowledge
• Support services/Intermediaries
Elements
ECONOMIC GARDENING
• Next-Stage-Growth Programs
• RDCs and University tech transfer
• Entrepreneurial and Management Capabilities Development programs
INCUBATORS
STARTUP SUPPORT
• Capital Gains Tax policy relief
Activities
Viable Businesses that leverage Regional Comparative and Competitive Advantages
• Growth in profitability
• Growth in number and quality of jobs
• Better quality of life
Regional Economic Development
Faculty of Business, Justice and Behavioural Sciences
Framework Conditions
Faculty of Business, Justice and Behavioural Sciences
1. Natural Capital
Includes: Sub-soil capital (energy, minerals, water)
Soil – and above soil capital (arable land, forests,
rivers, lakes, sea coasts)
Natural and heritage areas
Geographic proximity
A large proportion of regional activity is based on
leveraging natural capital
But, it is not the only factor influencing regional
economic activity
Faculty of Business, Justice and Behavioural Sciences
2. Formal Institutions
Government
• market structures, property rights, infrastructure and
information provision
• directly support of ecosystems (strategic partnerships
with industry, research institutions, funding academic
programs and other initiatives eg R&D incentives)
Universities
• Stimulating and facilitating entrepreneurship
• Creating entrepreneurial capabilities
Others: RDAs, RDCs, Peak Bodies
Faculty of Business, Justice and Behavioural Sciences
3. Cultural Capital
• Entrepreneurship is positively linked to culture that
supports individual initiative and positive risk taking
(Woodside et al. 2016)
• Social legitimacy of entrepreneurship is positively linked
to entrepreneurial intentions (Kiber, et al 2014)
Faculty of Business, Justice and Behavioural Sciences
4. Infrastructure
• Positively associated with startup activity, but is specific
to the type of infrastructure and industry context
(Audretsch et al. 2015)
• Road / Transport / Ports / Water traditional infrastructure