Entrepreneurial ‘ Ecosystem
According to the 1985 Tears for Fears hit , everybody wants to rule the world . But in the business world , everybody wants to be an entrepreneur . And with good reason .
“ The sex appeal of entrepreneurship remains and grows ,” said Ky Ekinci , co-founder of business accelerator Office Divvy in Palm Coast and organizer of the Entrepreneur Night events . “ It ’ s still a buzzword , people are hoping at one point in their lives to have some kind of business going , and that becomes their passion or even becomes a greater business .”
While the idea of following in the footsteps of famous entrepreneurs such as Elon Musk , Jeff Bezos and Bill Gates continues to have broad appeal , the truth is entrepreneurship in the United States has been in decline , according to a report from the Congressional Budget Office .
The agency outlined three main reasons for the decline , financial issues , demographic changes in the labor force and regulatory barriers . For Ekinci , there is another crucial reason : inconsistent community support .
“ To a degree , I think a community can approach this culturally at least like a venture capitalist approaches investing in startups ,” he said . “ What has been the challenge is local , where everything is government reliant .”
Ekinci said creating an entrepreneurial ecosystem is a key ingredient in providing fertile ground for those residents who want to take the necessary risks to bring their ideas to the market . And that includes being willing to fail .
“ One thing we know , government entities have no tolerance for failure ,” he said . “ In that culture , failure is something to be hidden , but in entrepreneurship , 80 percent of the time , it will be a failure , and without embracing the failure , you can ’ t have success .”
The willingness to fail is the foundation of entrepreneurship and is part and parcel of creating the kind of disruption entrepreneurs thrive on .
“ You need a combination of a foundation of business savvy , not necessarily an education but something and also being a fool and being hungry ,” Ekinci said . Those are the ingredients for entrepreneurial success , along with a bit of luck .
Creating a broader public / private entrepreneurial ecosystem is something Joe Roy , president and CEO of the Coastal Entrepreneurship and Innovation Center thinks about every day .
“ Our ecosystem should include county and city
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