Does your agency have an entrepreneurial ecosystem?
The graphic above was developed by author Tim Mazzarol for an article about the nine major elements that are part of an entrepreneurial ecosystem in the private sector. (You can find the article and original source of the graphic here: TheConversation.com.)
The same nine elements are uber important to creating entrepreneurial government agencies.
Government Policy: Is entrepreneurship rewarded and supported within the agency? Do policies and procedures support, not obstruct, entrepreneurial behavior and risk taking? How can they be amended to encourage innovation?
Regulatory Framework: How does the mission’s regulatory infrastructure encourage or obstruct entrepreneurship? How can regulations be reformed? How can regulators become part of the innovation process?
Funding and Finance: Are customers willing to assume some of the risk by funding innovative projects? Are financial systems set up in the agency to promote entrepreneurship? How can funding and financial systems reward entrepreneurial behavior? (There are ways!)
Culture: Does the agency’s leadership practice what it preaches? Are senior directors supporting entrepreneurship at the bench level? Is there a business plan? Are people rewarded for meeting their targets? Are people recognized for successful work?
Mentors & Advisors: Who can you turn to to give you support and counsel? Can this question be answered by every person in the organization that holds an entrepreneurial role?
Universities as Catalysts: How is your agency working with colleges and universities? Is there a healthy flow of information back and forth or is it a one-sided relationship? How can your agency adopt best practices from the university environment? How can you leverage university resources?
Education and Training: Hey this one is about G2gmarketing.com! What training is available for personnel on developing their entrepreneurial skills and learning new tactics? Some entrepreneurs are born with it, some learn new skills through quality education and training. Make sure everyone in your organization attends a Government Entrepreneur session this year! (/Unabashed plug)
Human Capital and Workforce: How are your teams organized? How are personnel evaluated? Do they get feedback from supervisors on their entrepreneurial behaviors? Does your Human Resources office understand the entrepreneurial culture? Are they encouraged to behave in an entrepreneurial fashion?
Lastly Local and Global Markets: How can your innovations transition to the marketplace? If you don’t know, how can you find out? Do you have people with market research skills and experience on your staff? How do you build market development into your technology development plan?
We’ll go into some depth on these topics in future blog posts and explore how real-world entrepreneurs are addressing these topics.