World Entrepreneurship Forum 2012: Entrepreneurial Ecosystems: key learnings from the USA

Prof. Patricia Greene

The 2012 edition of the Forum will be devoted to “Entrepreneurial Ecosystems: growing entrepreneurial communities creating wealth and social justice”. From March to September, they will interview members from all around the globe to benefit from their insights and perspectives.

First of their series starts with Prof. Patricia Greene who is a pioneer member of the Forum and a Professor of Entrepreneurship of Babson College, USA, where she holds the Paul T. Babson Chair in Entrepreneurship. Her current assignment is to serve as the National Academic Director for the Goldman Sachs 10,000 Small Businesses initiative and advisor to the 10,000 Women program.

YH Robillard – Prof. Greene, being based in the USA which is traditionally perceived as THE place for entrepreneurs, you are familiar with successful entrepreneurial ecosystems creating outstanding global companies. Which ones, according to you, are the most interesting cases to study?

P. Greene- If I had to select a few ecosystems all over the US, I would mention the following four: Silicon Valley, Boston, Kansas City and New York City. Each of them is at the heart of a vibrant entrepreneurial community comprising high-growth companies - but not only. Just as in the case of a rainforest being made of different trees, bushes and leaves, a healthy entrepreneurial ecosystem is not made of high-growth companies oriented towards profit only. It shall comprise social entrepreneurs, smaller firms and other stakeholders - all creating wealth in their way.

What made these ecosystems successful?

I would say that a reason of their success, beyond the specific and various schemes that have been implemented in these ecosystems, is the result of conscious leadership: having knowledge, resources, opportunities and communication between stakeholders is not enough to create a vibrant ecosystem.

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