building on missouri’s entrepreneurial ecosystems
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Building on Missouri’s Entrepreneurial Ecosystems. 2011 Governors Conference on Economic Development Peter J. deSilva President and COO UMB Financial Corporation Chairman and CEO UMB Bank. Agenda. Condition of the global, national and state economy Building Missouri’s future economy - PowerPoint PPT PresentationTRANSCRIPT
Building on Missouri’s Entrepreneurial
Ecosystems2011 Governors Conference on
Economic Development
Peter J. deSilva President and COO
UMB Financial CorporationChairman and CEO
UMB Bank
Agenda
Condition of the global, national and state economy
Building Missouri’s future economy
The importance of entrepreneurial ecosystems
Financial Capital
Intellectual Capital
Entrepreneurial Capital
FINANCIALENTREPRENEURIA
LINTELLECTUAL
1998 World GDP30%: U.S. share22%: Emerging markets share
2009 World GDP25%: U.S. share
32%: Emerging markets share
U.S. GDP 1998 – 2009Total Growth Rate
GDP All Segments GDP Services GDP Goods GDP Government0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
66.70% 65.90%
50.90%
112.60%
Gross Domestic Product by StateAverage Annual 2000 – 2010
All Industry
4.6%
4.0%
4.9%
4.3%3.2%
4.2%
3.7%
3.7%
3.0%
U.S. rate 3.9%
Gross Domestic Product by StateAverage Annual 2000 – 2010
Manufacturing
3.7%
2.3%
3.8%
2.6%2.0%
0.2%
1.7%
2.0%
1.6%
U.S. rate 2.0%
Gross Domestic Product by StateAverage Annual 2000 – 2010
Services
U.S. rate 2.2%
2.7%
1.9%
1.4%
1.8%2.5%
2.4%
2.4%
2.1%
1.5%
Gross Domestic Product by StateAverage Annual 2000 – 2010
Personal Income and Employment
4.0%
4.0%
4.9%
3.9%3.2%
4.8%
3.7%
3.9%
3.5%
U.S. rate 3.9%
Missouri’s Strategic Initiative for Economic Growth• Advanced Manufacturing• Energy Solutions• Biosciences• Health Sciences and
Services• Information Technology• Financial and
Professional Services• Transportation and
Logistics
AUGUST 22, 2011
Where the Action Is Across the country, new industry hubs are drawing entrepreneurs
and investors—and offering start-ups support and safety in a turbulent economy
"It's easier to be on the radar for investors when you're part of a critical mass," says John Fernandez, assistant secretary of commerce for economic development at the U.S. Economic Development Administration.
“Hubs also catch the eye of government”, says Dan Carol, senior fellow at the New Policy Institute think tank in Washington, D.C. “A concentration of small firms in the same field is more likely to be recognized on the municipal level, where funding programs and policies can be created to stimulate their growth.”
Kauffman Foundation Sketchbook"Three Things"
Why Entrepreneurism
Job creation Return on investment Local, committed ownership Community and philanthropic
leadership Symbiotic relationship with large
business
Entrepreneurial Ecosystems
NUTRIENTS
Taxes and regulation
Industry clusters
Investment policies
Capital access
Educational excellence
Entrepreneurial Ecosystems
HEALTHY ENVIRONMENT
Leveraging existing assets• Kauffman Foundation• Research institutions• Universities• SIFE
Investments in arts and recreation
Support for small and minority owned businesses
Entrepreneurial Ecosystems
NURTURING
Infrastructure investments
Marketing and branding
Workforce development