Download - Open2012 entrepreneurship-at-end-of-road
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ENTREPRENEURSHIP AT THE END OF THE ROAD
Success and Failure in the Last Frontier
J. M. CollinsSchool of Management
University of Alaska Fairbanks
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Hey, I can see the end of the road (and maybe Russia) from my front porch …
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The Alaskan Economy
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1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20090
5000
10000
15000
20000
25000
Alaska GSP, Selected Industries, 1997-2009Chained 2005 Dollars
Gov Oil Mining Manufacturing
$M
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The Underlying Problem
Diversify the Alaskan economy
Help create a new economic engine
Oh, by the way, it has to have a small environmental footprint and create huge amounts of value per employee…
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If the incidence of patents provides a proxy for creativity
Americans as a whole are three times more creative than Alaskans
Californians nineteen times more creative
North Dakotans four times more creative
West Virginians 1.6 times more creative
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Relatively munificent economic and political environments.
Massive state and federal spending.
The grant writer is often the most important person in many Alaskan communities
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UAF
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The University as Catalyst
For entrepreneurship
For economic development
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During the Past 50 yrs
The University of Alaska was granted
17
patents
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Nanotech Disaster
New projects can’t be forced
Organizational support is critical
Never overpromise
There are consequences
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But what did we do?
Found some interest
Especially from younger researchers
But concern about tenure
Administrators largely ambivalent
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Arctic Innovation Competition
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Economic Opportunity Task Force
Let’s get researchers and business folks to talk with each other
Partnered with economic development organization
Results mixed, but generally positive
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Entrepreneur in Residence
Successful former student mentored current students
Met with researchers
Brought associates to campus
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Entrepreneur Bootcamp
Provided students, faculty, and staff and opportunity to attend intense workshops put on by practitioners
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Business Plan Competition
UAF competition
Alaska-wide competition
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Recommendations
Director of Entrepreneurship should be a successful serial entrepreneur
A cross discipline, multiple entity approach to value creation should be utilized
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Significant Resistance
Assumption of a zero sum game
You can’t tell faculty what to do
We don’t want to be evil corporatists
Economic development is not a proper role of the university
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Outcome
An engineering-based “what can we patent and license” approach was embraced.