THE CHARLOTTE REGIONAL FUND FOR ENTREPRENEURSHIP Sponsored By

Prepared By

Julie Nance Principal Consultant

7/10/2013

Mapping the Ecosystem An in-depth look at the Charlotte region’s entrepreneurial ecosystem and the programs that impact high growth entrepreneurs.

The Charlotte Regional Fund for Entrepreneurship

Table of Contents EXECUTIVE SUMMARY ........................................................................................................... III A Focus on High Growth Entrepreneurs ...................................................................................... iii A Complex Environment ................................................................................................................ iii The Charlotte Entrepreneur Ecosystem ....................................................................................... iv Community Interviews..................................................................................................................... iv Recommendations for the Charlotte Regional Fund for Entrepreneurship (CRFE) ............. vii Summary of Findings ..................................................................................................................... vii INTRODUCTION ...................................................................................................................... 1 STUDY FOCUS ........................................................................................................................................ 1 APPROACH ............................................................................................................................................. 2 Study Methodology........................................................................................................................ 2 Regional Approach ........................................................................................................................ 3 Community Interviews..................................................................................................................... 3 BEST PRACTICES IN ENTREPRENEURSHIP DEVELOPMENT AND GROWTH ............................. 4 What is an Entrepreneurial Ecosystem? ............................................................................................. 4 Definitions and Concepts in Entrepreneurship .................................................................................. 6 Key Factors for Ecosystem Success ..................................................................................................... 7 Innovation Initiatives of Note ............................................................................................................... 8 CHARLOTTE-REGION’S ENTREPRENEURIAL ECOSYSTEM ..................................................... 17 Current State of the Market .............................................................................................................. 17 Charlotte’s Ecosystem Map ................................................................................................................ 19 A. Entrepreneur Support Organizations .................................................................................. 21  Strategy & Coordination of Networks .............................................................................. 21  Local Entrepreneurship Networks........................................................................................ 21  Incubators, Accelerators, Co-working ................................................................................ 27 B. Business...................................................................................................................................... 28  Corporations ........................................................................................................................... 28  Industry Cluster Support Organizations ............................................................................ 29