Entrepreneurial Ecosystems

Silicon Valley. At some point I'm sure you've heard of this mysterious and comprehensive place. This region in San Francisco is home to thousands of startup companies in addition to the headquarters of thirty-nine businesses in the Fortune 1000. Originally named for the large amount of silicon chip manufacturers and microcomputers produced, Silicon Valley fosters entrepreneurial ideas and firms. It is an example of an entrepreneurial ecosystem. These areas bring together all sorts of entrepreneurs and new technology. They promote startups, incubators, and small businesses.While Silicon Valley is perhaps one of the biggest entrepreneurial systems found within the United States, I would like to discuss how St. Louis is becoming the next big entrepreneurship ecosystem.  

St. Louis is rapidly becoming the one of the top cities that fosters and promotes entrepreneurship and small business. As Karren Watkins (2014) said, "the city has cultivated some of the most eminent organizations in America including Nestle Purina, Anheuser-Busch, Enterprise Rent-A-Car. Venture capitalists are pouring millions of dollars into startup companies in St. Louis. This allows entrepreneurs to fund and expand their business.

If you were watching the Super Bowl, you might have seen the Anheuser-Busch "Born the Hard Way" commercial. It told the story of their founder coming to America from Germany and starting his brewery in St. Louis. He achieved the "American Dream" and started a successful business.
Although it isn't a recent development to St. Louis' economy, it shows that for some time now the city has welcomed young entrepreneurs.

Works Cited

Isenberg, D. (2014, November 01). What an Entrepreneurship Ecosystem Actually Is. Retrieved March 24, 2017, from https://hbr.org/2014/05/what-an-entrepreneurial-ecosystem-actually-is

Watkins, K. (2014, September 19). Entrepreneurial Ecosystems: what St. Louis can teach the nation . Retrieved March 24, 2017, from http://www.stltoday.com/news/opinion/entrepreneurial-ecosystems-what-st-louis-can-teach-the-nation/article_a6113c23-40c6-5db2-be0b-f9d37abf4e69.html

Social Entrepreneurhsip

In last weeks post I briefly covered two of the four different types of entrepreneurship. To simplify entrepreneurship there are four broad categories: small business, startup, large company, and social. Most people outside of this field are probably not familiar with either startups or social entrepreneurship. Since I already gave a brief background to startups, I think its important to now explain social entrepreneurship and provide a few modern examples of it.

According to Ben Casnocha (2011), "social entrepreneurs are innovators who focus on creating products and services that solve social needs and problems." Their objective is to make the world a better place instead of making large profit margins. These companies are normally nonprofit, for-profit, or a mix between the two. A common nonprofit people think of immediately is the Red Cross. The company has a unique relationship with our government and classifies as a nonprofit tax, exempt entity. However, I would like to talk about a modern social entrepreneur with big plans to help clean up the ocean.

At the young age of 22, Boylan Slat has ambitious plans to help clean up one of the five ocean garbage patches. There is approximately 5 trillion pieces (1.4 billion pounds per year) of trash in the ocean. This trash accumulates in five patches, the biggest one being between Hawaii and California. Boylan recognized the need for action to combat this social problem. He is the CEO and founder of The Ocean Cleanup, a company devoted to cleaning up the vastly polluted ocean. Boylan came up with new technology to hopefully clean up half of the Great Pacific Garbage Patch within 10 years. This ambitious goal could benefit marine life and help eliminate the destruction of coral reefs throughout the ocean. In a world where pollution is becoming more and more prevalent, it is reassuring to see individuals like Boylan Slat who make the difference.

To learn more about Boylan and The Ocean Cleanup visit these two sites:
 1) The Ocean Cleanup
 2) Boylan Slat

Works Cited

Meet the 22-year-old with a big idea for cleaning up the Great Pacific Garbage Patch. (2016, August 17). Retrieved March 03, 2017, from https://www.pri.org/stories/2016-08-17/meet-22-year-old-big-idea-cleaning-great-pacific-garbage-patch

The Four Types of Entrepreneurship. (2011, February 17). Retrieved March 03, 2017, from http://casnocha.com/2011/02/the-four-types-of-entrepreneurship.html