The Development of University-Based Entrepreneurship Ecosystems
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The Development of University-Based Entrepreneurship Ecosystems

Global Practices

Edited by Michael L. Fetters, Patricia G. Greene, Mark P. Rice and John S.ibley Butler

Entrepreneurship and innovation are increasingly viewed as key contributors to global economic and social development. University-based entrepreneurship ecosystems (U-BEEs) provide a supportive context in which entrepreneurship and innovation can thrive. In that vein, this book provides critical insight based on cutting-edge analyses of how to frame, design, launch, and sustain efforts in the area of entrepreneurship.
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Chapter 2: Babson College

Michael L. Fetters, Patricia G. Greene and Mark P. Rice

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2. Babson College Michael L. Fetters, Patricia G. Greene and Mark P. Rice INTRODUCTION In 2010, the current state of Babson’s entrepreneurship ecosystem is the result of more than 30 years of intentional design and development in creating a unique community that defines the entrepreneurial approach for higher education. If we start from the premise of the business ecosystem as ‘an economic community supported by a foundation of interacting organizations and individuals – the organisms of the business world’ (Moore 1993), we can then narrow that definition and be more specific about an entrepreneurial ecosystem as an economic community focused on the development of new and growing companies. At Babson that ecosystem has been deliberately expanded along two significant vectors. Entrepreneurial mindset, the initial major expansion vector, is exemplified by creating and embracing change and ambiguity, fostering a near obsession with opportunity identification, and acting on opportunities within all college sectors as Babson College pursues its own vision. Second, a broader approach to entrepreneurship now includes entrepreneurial thinking and action in established corporations, women’s leadership, family enterprises and not-for-profit organizations. After a brief introduction to Babson, this chapter will be segmented into three sections. We start with a description of the current state of the entrepreneurship ecosystem at Babson; continue with a review of the entrepreneurship ecosystem development discussed around a timeline using the dimensions of teaching, research and outreach; and conclude with a summary of lessons learned and recommendations for schools intent on creating or improving their campus entrepreneurship ecosystem....

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