From Dream to RealityEntrepreneurship in a Global Economy

The definition of Entrepreneur is unique to the United States

The word comes from the Old French entreprendre, to undertake.

Chinese, French, German, Italian, Japanese, and Spanish, use the word Businessman

Entrepreneurs

Entrepreneur - A person who organizes, operates, and assumes the risk for a business venture.

Intrapreneur – A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation.

Intrepreneur - One who sets up, maintains and assumes the financial risks of an Internet business venture.

The impact of Entrepreneurs

Services based Entrepreneurs Create jobs

Manufacturing based Entrepreneurs Create jobs Can create exports

Technology based Entrepreneurs Create technical jobs Create exports Maintain competitiveness Incubate more entrepreneurs

Why is IEEE interested in entrepreneurs?Growth of Nonfarm Employment by Size of Payroll

Small Medium LargeRecession

U.S Economic vitality needs scientific and technical innovation

US science and technology building blocks are eroding.

Other nations (particularly Asian) are gathering strength.

Rising Above the Gathering Storm

200 large companies surveyed are now moving white-collar jobs to Asia

Most companies not deterred by security or IP concerns when outsourcing to Asia

CIBER Survey

Entrepreneurs

Entrepreneurs impact is limited by the size of the companies they create, but more so by the required conditions:

Personal risk taking Tenacity to work through the process Being in the right place at the right time

Entrepreneurs are motivated but they need: Environment (Capital, Resources, Regulations) Opportunities (Markets, Technology) Support (Mentors, Consultants, Services)

Intrapreneurs

Intrapreneurs have the potential for the largest impact:

Large number of people work in corporate America

Available resources Global marketing channels

Intrapreneurs need: Rationale to take risks Corporate support for Innovation

Started a company in Tokyo late 1990 with 2 Japanese Entrepreneurs

Demolished competitors and aptured over ¾ of the Market

Tried to start a Skunk Works in US company and had no takers

An Anecdotal Experience

Stimulating Technology entrepreneurship

Research on a national scale (research, not development)

Available capital Corporate environment for intrapreneurs Manufacturing Infrastructure Support services Government support (export, technology)

IEEE-USA Entrepreneurs Activities CommitteeEntrepreneurs’ Village

https://www.ieeecommunities.org/ieee.usa.entrestrat

Current Resources Tech Databases Mentor Databases Discussion Groups Chat Rooms Bulletin Boards

IEEE –Entrepreneurs Activities Committee

Entrepreneurs’ Village

New Portal Page Dynamic Information

Update Searchable by Search

Engines Maintains access to all

Ramius Community features

IEEE-USA Entrepreneurs Activities Committee

Entrepreneurs’ Village

The Art of the Start Available at IEEE TV http://

www.ieee.org/web/membership/IEEEtv/about.html

IEEE-USA Entrepreneurs Activities Committee

TechMatch First Event planned in Minneapolis/St. Paul

Partnering with MedTech and LifeScience Alley Focus on Medical Devices First meeting with local Technology Players Section can provide vital support