Rating Entrepreneurial Regions

Here is an excellent study report to read on entrepreneurial regions. It was funded by the SBA and conducted by an Ohio consulting company.

What was the study purpose? The connection between innovation and entrepreneurship as drivers of local economic development is often discussed but not often studied. This research addresses the needs of local policymakers to understand the role of entrepreneurship and innovation in creating an environment where local economic growth can thrive.

In a nutshell, what was learned? Both entrepreneurship (new firms and growing firms) and innovation (patents, R&D, and hi-tech industries) are drivers in the growth of regional economies. This study infers that innovative regions need entrepreneurship to more fully develop local economies. Entrepreneurial regions are likely to be associated with higher levels of technology.

Download the study report here, which includes a rating of various US regions.