Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies from Coursera

The path for entrepreneurs to grow their companies outside of well-developed entrepreneurial ecosystems like Silicon Valley is challenging. Most markets around the world do not look like Silicon Valley, and they never will. But there are other models to support new businesses. In transitioning markets (where entrepreneurs do not have much access to private sector financing), government officials, donors, and business leaders are experimenting with creative approaches to support the growth of entrepreneurs. Northeast Ohio, whose largest city is Cleveland, is one such community. During our time together in this course, we will be exploring some of these innovative approaches.

A massive intervention of government and donor resources in Northeast Ohio has been in place for over ten years. In that time, Northeast Ohio has experienced success (including job creation and follow-on funding) with alternative methods of financing startups, but it has not been easy. Yes, some progress has been made, but whether or not they've hit on ultimate success has yet to be determined. A dynamic entrepreneurial ecosystem takes many years, even decades, to develop. Government officials and donors typically are looking for shorter term success with their support programs which makes long-term support for entrepreneurship challenging.

During this course, we will hear from entrepreneurs who have launched products and services ranging from medical devices to LED lights to whiskey. You will learn how these entrepreneurs engaged with resources made available to them through a variety of programs and intermediary organizations. We have chosen to talk with many business people that are still in the process of developing their companies and whose ultimate success or failure is still to be determined.

In addition to learning about Cleveland's attempts to support entrepreneurship, you will also be hearing in the lectures from leaders in selected markets around the world including Greece, Vietnam, Tunisia, Argentina, Rwanda and China about how they are working to support the growth of start-up companies.

One of our goals is to learn from you how different communities around the world are approaching implementing strategies and methods to support businesses. Taking what we've learned from our examples in class, I will ask you to reflect on how to best grow entrepreneurship where you live. I am excited to use this global platform to create a dialogue where information flows in multiple directions.

Most MOOCs rebroadcast professors’ lectures, but this course will be different. Don’t expect to see me standing in front of the camera, talking and lecturing every module. Instead, the lectures will be relatively short in length and will have more of the feel of an engaging documentary than a static classroom setting.

What's inside

Syllabus

Course Overview

The Course Welcome and Overview video lays the foundation for the course and provides context for what we are calling the “Cleveland Case Study.” We’ll explore how my hometown of Cleveland, Ohio is working to support start-up companies with the help of government and philanthropy/donors working in conjunction with the private sector.

The Role of Government

The Role of Government video lecture examines the role of government in an entrepreneurial ecosystem. You will learn how an entrepreneur from India developed a technology in a university lab and turned it into a medical device company in Cleveland with the support of government funding. As with all of lectures, you will also hear international perspectives on the topic, this time from Vietnam and Tunisia. In reviewing this lesson, consider the following questions. How can governments avoid bias? What is follow-on capital? What is government matching funds? How can both be used as tools to support startup initiatives? How can a government measure the success of its entrepreneurial support programs? What role does corruption play in government support?

The Role of Philanthropy/Donors

The Role of Philanthropy/Donors video lecture explores how foundations in Cleveland came together to form the The Fund for Our Economic Future (http://www.thefundneo.org/) to provide funding alongside government and the private sector to entrepreneurs. Consider the following questions when reviewing the materials. Why donors get involved in supporting entrepreneurs? How donors may differ from government and private investors? What are the challenges of maintaining donor interest in entrepreneurship over the long haul? What makes philanthropies decide to dedicate resources to entrepreneurship and economic development? What is donor fatigue and what causes it? How are the metrics of success for a philanthropy similar and different from those of the government/private sector? Are donors more or less risk tolerant than their government and private sector counterparts? What role can corporations play in the international philanthropic setting?

The Role of Intermediary Organizations/NGOs

Governments and donors are often forbidden by law or uncomfortable funding entrepreneurs directly so they provide grants to non-governmental organizations (NGOs) who then in turn offer capital, mentoring or other services to promising entrepreneurs. The Role of Intermediary Organizations/NGOs video lecture examines several examples of NGOs that do this type of work in Cleveland and around the world. Some key points covered in the lecture are: Why are intermediary organizations created? How do intermediary organizations measure success? What are the challenges of intermediary organizations?

Leveraging Anchor Institutions

The Leveraging Anchor Institutions video lecture focuses on the role that anchor institutions such as universities can play in supporting the growth of entrepreneurship including supporting increased commercialization activity, licensing versus new company formation, and measuring success. While completing this module, consider the following questions. What are the different ways that anchor institutions stimulate entrepreneurship? Why might an anchor institution provide financial support for an early stage company? How can an anchor institution's research capabilities translate into support for early stage companies? What are the different ways that anchor institutes measure their own success?

Access to Capital and Mentoring

Entrepreneurs working outside of Silicon Valley with struggle with every day: where to find capital (and mentoring) to grow their start-up companies. The Access to Capital and Mentoring module includes three video lectures: Seed Accelerators, Angel Investors, and Venture Capital. We trace how donors and government backers in Cleveland and selected international markets have come together with the private sector to support each of these areas. While completing this module, consider the following questions. Given the challenges, why would an angel investor invest in a highly risky startup? How is an angel investor motivated differently from other investors? Who has traditionally supported seed accelerators? Why do seed accelerators ask for equity in the companies that they support?

Course Wrap-Up and Looking Ahead

The Course Wrap-Up and Looking Ahead video lecture explores how much progress has been made in Cleveland and if the situation has really improved for entrepreneurs. Thought leaders and entrepreneurs provide advice for other communities around the world looking to support the growth of entrepreneurship.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Examines the challenges and opportunities for entrepreneurship in transitioning markets

Explores innovative approaches to supporting the growth of entrepreneurs in Northeast Ohio

Features real-world examples from entrepreneurs who have launched successful products and services

Provides insights from leaders in selected markets around the world

Offers a unique global platform for dialogue and information exchange

Led by Professor Michael Goldberg, an expert in entrepreneurship and innovation

Reviews summary

Entrepreneurship in developing economies

Learners largely enjoy this engaging entrepreneurship course designed for transitioning economies. Students say the course provides a framework for building an entrepreneurial ecosystem from the ground up and offers practical tips to current entrepreneurs. It features videos, readings, and short assignments.

Course highlights local entrepreneurship.

"The fact that entrepreneurs from several transitioning economies were given a platform to tell their business journey, made the course engaging."

Course inspired positive change in learners' lives.

"This course had an impact on my life. A very positive one."

"inspired me to go out and actually do that."

Well-structured course packed with knowledge.

"A quintessential course that offers a framework to see what is needed for building an entrepreneurial ecosystem from ground up."

"The course helps to learn basic concepts related with entrepreneurship but most of all, to identify the specific aspects of how has to be the entrepreneurial ecosystem in a transitioning economy."

Some links in the course were not working.

"Great course. There were some links that we no longer working; however, the information that was provided was valuable."

Career center

Learners who complete Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies will develop knowledge and skills that may be useful to these careers:

International Development Specialist

International development specialists work to improve the lives of people in developing countries. They may work for government agencies, international organizations, or non-profit organizations. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be very useful for this role, as it provides a deep understanding of the challenges and opportunities faced by entrepreneurs in emerging markets. This knowledge can help you to develop and implement effective development programs.

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Venture Capitalist

Venture capitalists invest in early-stage companies with high growth potential. They provide funding and support to help these companies develop and grow. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be very useful for this role, as it provides a deep understanding of the challenges and opportunities faced by entrepreneurs in emerging markets. This knowledge can help you to better identify and evaluate investment opportunities.

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Development Economist

Development economists research and analyze economic issues related to developing countries. They may work for government agencies, international organizations, or research institutions. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be very useful for this role, as it provides a deep understanding of the challenges and opportunities faced by entrepreneurs in emerging markets. This knowledge can help you to develop and evaluate policies that support economic development in developing countries.

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Economic Development Officer

Economic development officers work to promote economic growth and development in their communities. They may work for government agencies or non-profit organizations. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be very useful for this role, as it provides a deep understanding of the different strategies that can be used to support entrepreneurship. This knowledge can help you to develop and implement effective economic development programs.

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Impact Investor

Impact investors invest in businesses and organizations that have a positive social or environmental impact. They may work for investment firms, foundations, or non-profit organizations. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be very useful for this role, as it provides a deep understanding of the different ways that investors can support entrepreneurship and economic development. This knowledge can help you to identify and evaluate impact investment opportunities.

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Social Entrepreneur

Social entrepreneurs use business principles to solve social problems. They may start their own businesses or work with existing organizations to develop and implement social programs. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be very useful for this role, as it provides a deep understanding of the challenges and opportunities faced by entrepreneurs in emerging markets. This knowledge can help you to develop and implement effective social ventures.

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Philanthropy Advisor

Philanthropy advisors help individuals, families, and organizations to make strategic philanthropic decisions. They may work for foundations, financial institutions, or non-profit organizations. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be very useful for this role, as it provides a deep understanding of the different factors that donors consider when making funding decisions. This knowledge can help you to advise your clients on how to make their philanthropic giving more effective.

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Social Impact Bond Manager

Social impact bond managers develop and manage social impact bonds, which are a type of performance-based contract between governments and non-profit organizations. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be helpful for this role, as it provides a deep understanding of the different ways that governments and non-profits can partner to support entrepreneurship and economic development. This knowledge can help you to develop and manage social impact bonds that create value for both the government and the community.

See salaries and explore the career path for Social Impact Bond Manager

Policy Analyst

Policy analysts research and analyze public policy issues. They may work for government agencies, think tanks, or advocacy groups. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be helpful for this role, as it provides a deep understanding of the role that government and other organizations play in supporting entrepreneurship. This knowledge can help you to develop and advocate for policies that support economic development.

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Nonprofit Manager

Nonprofit managers oversee the operations of non-profit organizations. They may be responsible for fundraising, program development, and staff management. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be helpful for this role, as it provides a deep understanding of the challenges and opportunities faced by non-profits. This knowledge can help you to better manage your organization and achieve its mission.

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Sustainability Consultant

Sustainability consultants help businesses and organizations to improve their environmental and social performance. They may work for consulting firms, non-profit organizations, or government agencies. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be helpful for this role, as it provides a deep understanding of the challenges and opportunities faced by businesses in emerging markets. This knowledge can help you to develop and implement effective sustainability strategies that create value for both the business and the community.

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Corporate Social Responsibility Manager

Corporate social responsibility managers develop and implement social responsibility programs for corporations. They may also be responsible for managing the company's relationships with non-profit organizations and other stakeholders. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be helpful for this role, as it provides a deep understanding of the different ways that corporations can support entrepreneurship and economic development. This knowledge can help you to develop and implement effective CSR programs that create value for both the company and the community.

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Program Officer

Program officers manage grant programs for foundations and other organizations. They are responsible for reviewing grant applications, making funding decisions, and monitoring the progress of grantees. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be helpful for this role, as it provides a deep understanding of the different factors that foundations consider when making funding decisions. This knowledge can help you to write more effective grant proposals and manage your grant portfolio more effectively.

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Consultant

As a consultant, your role is to help businesses implement plans, solve problems, and find new opportunities. This often involves providing expert advice and guidance on a variety of business topics, including entrepreneurship, finance, and innovation. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be very useful for this role, as it provides a deep understanding of the challenges and opportunities faced by entrepreneurs in emerging markets. This knowledge can help you to better advise businesses on how to succeed in these markets.

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Investment Banker

Investment bankers help companies raise capital and provide financial advice. They may also work with governments and other organizations on financial transactions. The course 'Beyond Silicon Valley: Growing Entrepreneurship in Transitioning Economies' can be helpful for this role, as it provides a deep understanding of the different ways that companies can raise capital. This knowledge can help you to better advise clients on how to finance their businesses.

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