A Collective Approach to Ecosystem Building: The Case of Richmond VA

• In Event: Entrepreneurial Support Organizations as Innovation Infrastructure: Ecosystem Roles, Reach, and Policy Implications

Abstract

Entrepreneurial ecosystem building has become a central component of local economic development strategies. Entrepreneurial activity has the potential to boost innovation, alleviate poverty, and revitalize neighborhoods. Policymakers, scholars, and practitioners have bought into the ecosystem approach (Isenberg, 2010). The private sector also views this approach as critical for the region's economic growth. However, there is no unified theory on how to best achieve the optimal system. Scholars have discussed the necessary stakeholders and their roles (Bischoff et al., 2018) as well as the importance of networks. In practice, a variety of models have been tried with varying success. Building a seamless entrepreneurial ecosystem that is diverse, inclusive, collaborative, and equitable has proven elusive for most cities. In 2015 Richmond’s entrepreneurial ecosystem was described as disjointed with many silos and a lack of leadership (Harper-Anderson, 2018). Since then, many new nonprofit organizations and private sector stakeholders have taken an interest in joining forces to create a new model of ecosystem building. 

The 1717 Collective is made up of seven key organizations and many other public and private partners who came together to meet the entrepreneurial needs of Richmond and the surrounding areas using a community organizing approach. What makes this initiative different is the actual formation of a collective as well as the hiring of an Ecosystem Director tasked with "developing and maintaining deep and positive relationships with a variety of regional stakeholders across the private and public sectors to shape and support the evolution and growth of the region's entrepreneurial and business economy" (Creighton, 2024). While other cities have tried various models of collaboration, the Ecosystem Director role is new. 

This qualitative case study has three main questions. What was the process that Richmond’s entrepreneurial community followed to build the 1717 Collective? What key factors and local conditions enable the organizations involved to overcome the silos that previously characterized the Richmond entrepreneurial ecosystem? What are the key lessons that other cities wishing to build their own collective might learn from the Richmond case?

 This study uses two sources of data. The primary data comes from 25 semi-structured, in-depth, one-hour interviews with organizational leaders involved in the Collective. We also interviewed five administrators at organizations outside the Collective. We coded the interview for key themes and used inductive analysis to understand the key factors driving the collective’s success. 

Preliminary findings suggest that having a navigator in place who was explicitly hired for the collective and could steer the organization and keep track of progress was critical for staying on mission. Further, the formalized collaborative partnerships and unity of vision for the ecosystem were key to developing an operational model that benefited a broader array of entrepreneurs than if each organization had operated separately.

Author

• Elsie L. Harper-Anderson, Virginia Commonwealth University
  Presenting Author