creative entrepreneurship d rae

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Creative Entrepreneurship

CREATIVEENTREPRENEURSHIP:

Methodologies &strategies to support thecreative industries sector

Professor David Rae

[email protected]
mailto:[email protected]:[email protected]


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Messages from young creative entrepreneurs

Being young is a challenge in itself not being takenseriously as business people by banks andaccountants

Focusing on progress and achievement with supportivepeer review really helps

Collaborative action and networking builds confidence

Enterprise bursaries help reduce risk and fund start-upcosts


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Questions to address:

Why is there a need for creative entrepreneurship byyoung people?

Why the creative industries sector?

What do we aim to achieve?

What do young entrepreneurs want and need?

How can we achieve our goals?

What approaches do we know that work?

Who needs to work together?

What resources and initiatives are required?


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Our challenge

As enterprise educators we face the biggest

challenge and opportunity of our generation

in the post 2008 era:

How to provide the confidence, skills and tools

which will inspire and enable young people to

start their working lives and to achieve

economic and social regeneration through

enterprise.


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Why is there a need for creative

entrepreneurship by young people?

Worklessness is a major social & economic

problem for the next decade

Corporate & public sectors cannot provide thejobs required

Creative thinking is required to create the new

jobs

Investing in young people & creativity will show

economic & social returns


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Creativity & creative industries

Are the creative industries too narrow or an artificial definition?

Creativity is required in all organisations:

Creative problem-solving

Creating opportunities

Designing & innovating new products, services, experiences

Creative communications & marketing channels

Creative uses of new technology

Creative social enterprises & social spaces


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What do we aim to achieve?

Increase entrepreneurial potential & aspirations

of young people?

Enhance creativity in society?

Increase in ventures created?

Provide socially & economically useful services

for communities?

Provide useful jobs? All of these? Choices affect the actions we take.


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What do young

entrepreneurs want & need?Many have:

Ideas & imagination

Energy & passion

New technology know-how

Perceive opportunitieswe do not

Do not know whatcannot be done

Many require:

Resources

Experience

Self belief

Business skills &knowledge

Access to business &

social networks Ability to convince the

bank manager


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How? Entrepreneurial learning

a vital capability for the new era

Learning to work as an entrepreneur by

acting opportunistically & creatively

Experiential discovery-led learning by doing

from primary to Higher Education Applied creativity

Engage business people and communities in

the learning process outside the classroom


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Every one of us isa creative person!

We can have ideasand do things

with them!


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Turning winning ideas > opportunities

1. Problems

& needs

3. Innovations

& solutions

2. Who is it for?

4. How to make

it happen


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What can students gain from enterprising

learning? Purposeful, stimulating & engaging learning

Relevant to their lives & careers

Investigating real problems and exploring opportunities

Personal growth & social confidence, energises them to succeed

Experiential, practical, work and community situated learning

Provides supporting business skills & know-how

Alumni, practitioners and entrepreneurs contribute to learning

Risk, uncertainty and ambiguity to develop students judgement

Feel the enterprise experience emotional engagement


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Opportunity centred

entrepreneurship

Acting on

opportunity

Planning to realise

opportunity

OPPORTUNITY

CENTRED

ENTREPRENEURSHIP

Creating &exploring

opportunity

Personal enterprise

What do I want?

Personal goals

Skills & strengths

Confidence & self efficacyValues & motivations

Creative thinking

Exploring ideas

Seeing needs as

opportunities

Taking initiative

Planning:

Goals

What is success?

How-to?

Who with?

Resources

Networking

Creating & using contacts

Communicating effectivelySelf marketing

Learning from experience


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A new paradigm for entrepreneurship?

Old e-ship (US/UK?) Individualist

Neo-liberal capitalism

Opportunity pursuit regardlessof consequences

Business driven: short termprofitability & growth

Value creation solely financial

Exploits & wastes resources

Exclusive role models

Masculine attributes:aggression, power, conflict

New e-ship (European?) Individual-team leadership

Networked & collectivist

Socially connected & inclusive

Ethically responsible

Sensitive to resourceconservation & re-use

Multiple forms of value creation

Economically &environmentally sustainable

Feminine values: relational,collaborative, intuitive

Grassroots enterprise

This change can be achieved though education, practice & leadership


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New connections for creative

entrepreneurship

ConnectPeople

Students Educators

Entrepreneurs

& business

networks

Government agencies

Communities

Generate

Ideas

Problems

& opportunities

Purpose & commitment

Confidence to act

Resources

VenturesTeams Support

Results


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Latent resource entrepreneurship

Find new uses for resources being wasted - e.g. by bigorganisations in recession:

Resources (people, property, IP, technology, capacity,

finance, knowledge)+

Opportunities (creative problem-solving)

+

Facilitation support (people learning in teams)=

Venture projects (create value, jobs & solve problems)


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Examples of what works

Enterprising learning:

Enterprise in the 12-16 curriculum

Junior Achievement/Young Enterprise

in schools

Princes Trust supporting disadvantagedyoung entrepreneurs (18-30)


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Student business start-up

SPEED: 750 students started businesses 2006-8

Enterprise Inc. student & graduate start-ups (ERDF)

Based on bursaries + support

http://www.emincubation.co.uk/main/Enterprise_Inc

Student enterprise clubs & societies NACUE

www.nacue.com

National Council for Graduate Entrepreneurship

www.ncge.com
http://www.emincubation.co.uk/main/Enterprise_Inchttp://www.nacue.com/http://www.nacue.com/http://www.emincubation.co.uk/main/Enterprise_Inc


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The aim:

To assist business improvement through innovation

How:

Company-specific development projects with students and graduates

Introduce & exploit new opportunities, markets, products, services

Increase productivity & efficient use of resources Improve competitive edge: survival and growth

Make money

Enhance graduate employability and retention.

Create and safeguard jobs

What is Access Innovation?


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Summary

Our leadership is essential to connect people& organisations

Support young peoples & student enterprise

clubs & societies

Applied creativity & learning by doing

Use the new technology

Invest resources & support

Collaborative innovation by young people,education, business, communities & public

sector is the way forward.


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Featured book:

Opportunity Centred

Entrepreneurship

Entrepreneurship: from Opportunity to Action

Professor David Rae: Palgrave MacMillan 2007

www.palgrave.com/business/rae/

Chapter 1 & tools downloadable free on website

Lowest price: [email protected]

creative entrepreneurship d rae

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