Creating Opportunity Through an Inclusive Entrepreneurial Ecosystem
The Community Foundation supports an inclusive entrepreneurial ecosystem that amplifies the growth of a “new economy,” with particular focus on new businesses in historically under-invested neighborhoods in Greater New Haven and with minority-owned and women-owned businesses. This work ties in with The Community Foundation’s mission-related investments.
|(L-R) Christopher Gergen, CEO and co-founder of Forward Cities, Peter Hurst, president and CEO of Greater New England Minority Supplier Development Council, Caroline Smith and Margaret Lee, co-founders of Collab serve on a panel about inclusive entrepreneurship at The Foundation's Convening on Creating a Future of Opportunity in September 2019.|
- Entrepreneurship is a critical economic driver and creator of wealth, but this prosperity is not broadly shared.
- White residents in New Haven are about 19 times more likely to have an employer business than their African-American peers.
- Intentional strategies and investment are needed to address challenges and build a connected entrepreneurial ecosystem.
- Entrepreneurs need connections to knowledge and intellectual capital, access to financial capital and revenues.
- An inclusive entrepreneurial ecosystem must have a large open door with space for people who lack connections to resources.
- Entrepreneur service organizations (ESOs) need to be connected for entrepreneurs to successfully access their resources.