Amber Ravenscroft and Tara St. Clair, Co-Chairs of the West Virginia Entrepreneurship Ecosystem, joined this episode of Building Value in Innovation Ecosystems to discuss the collaborative work shaping entrepreneurship in West Virginia. Tara and Amber shared their journey in establishing a coalition of resource providers and entrepreneurs dedicated to strengthening the state’s economic future. Their story highlights the power of collaboration over competition and West Virginia’s entrepreneurial roots.
Building the West Virginia Entrepreneurship Ecosystem
The foundation of the West Virginia Entrepreneurship Ecosystem emerged from the need to replace competition with cooperation, uniting resource providers in support of entrepreneurs across the state.
- Focus on Collaboration, Not Competition: Tara shared how, early on, resource providers in West Virginia were often competing for the same grants. Recognizing the power of unity, she and others, like Bill Woodrum, began to coordinate efforts through regular calls, building a network now known as the West Virginia Entrepreneurship Ecosystem.
- Grassroots Effort, Not an Entity: The ecosystem functions as a volunteer-led network, without formal nonprofit or for-profit status, where individuals gather to share resources and support the state’s entrepreneurs.
Impact of the Ecosystem on Local Entrepreneurship
By focusing on connections and rapid access to resources, the ecosystem strengthens the entrepreneurial community, making it easier for business owners to succeed.
- Entrepreneur-Centric Model: By keeping the entrepreneur at the center, the ecosystem strives to connect innovators with resource providers, educators, and investors to ensure robust support.
- Unique Connectivity in a Small State: In a tight-knit environment like West Virginia, the ecosystem enables instant connections that may not be possible in larger states, providing entrepreneurs with streamlined access to resources.
Evolution of the Ecosystem
The ecosystem has evolved to keep pace with changes in technology and industry, including efforts to draw new tech talent into the state.
- Adapting to New Trends: Since its formation in 2019, the ecosystem has actively adapted to emerging technologies, such as AI, to remain relevant and attractive to tech-driven entrepreneurs.
- Broadening State Perception: Amber and Tara are working to shift West Virginia’s reputation from reliance on traditional industries to a focus on innovation, positioning it as a tech-friendly state.
Challenges and Opportunities in Rural Development
The team discussed barriers rural entrepreneurs face, including infrastructure and workforce issues, and shared how they’re addressing them through strategic partnerships and state support.
- Tangible Barriers: Rural infrastructure challenges like broadband access and transportation impact entrepreneurs. Efforts by state development authorities continue to address these logistical hurdles.
- Retaining and Attracting Talent: West Virginia’s efforts include Ascend West Virginia, which incentivizes remote workers to relocate and stay, along with Generation West Virginia’s contracts that engage local graduates to work within the state.
- Support for Workforce Needs: The ecosystem is dedicated to resolving workforce issues by aligning with state educational partners to prioritize entrepreneurial education alongside traditional career paths.
Connecting Resources to Solve Real Problems
The ecosystem’s monthly calls are a lifeline for entrepreneurs, enabling them to bring unique challenges to a trusted community for immediate solutions.
- Monthly Calls to Address Immediate Needs: The ecosystem’s monthly calls are a powerful tool where entrepreneurs can present challenges and receive immediate solutions, from policy issues to practical business needs.
- Community-Driven Problem Solving: A unique aspect of the ecosystem is its approach to solving real-time issues collectively, fostering a sense of hope and resilience among entrepreneurs.
Statewide Events as a Community Builder
Bridging Innovation Week brings together diverse stakeholders from across West Virginia, fostering new opportunities and highlighting the ecosystem’s achievements.
- Bridging Innovation Week: A signature event, Bridging Innovation Week unites resource providers, entrepreneurs, investors, and students through multiple days of workshops, pitch competitions, and networking opportunities.
- Intentional Networking Opportunities: By bringing stakeholders together in person, Bridging Innovation Week allows entrepreneurs and investors to build meaningful connections, boosting economic growth and visibility across the state.
Strategic Partnerships for Sustained Growth
Through partnerships with state entities and a personalized approach, the ecosystem ensures diverse engagement and widespread support across all sectors.
- Partnerships with Economic Development Entities: The ecosystem’s partnerships with state bodies like the Department of Economic Development facilitate streamlined access to resources, training, and policy support.
- Personalized Invitations to Grow Involvement: Rather than relying on organic reach, the ecosystem actively invites underrepresented individuals to join, ensuring that all voices are included in the state’s entrepreneurial landscape.
The Future of Entrepreneurship in West Virginia
The team highlighted exciting trends, from clean energy to tech investment, that are opening up new growth areas for West Virginia’s future entrepreneurs.
- Industry-Specific Growth Areas: West Virginia is seeing industry-specific expansions in fields like clean energy, tourism, and cybersecurity. Universities across the state are specializing in these emerging fields to provide complementary expertise.
- Bringing Technology into Rural Development: Technology’s role in rural and regional development is strengthening with state-backed projects in AI, clean energy, and data analytics, encouraging high-tech investment and upskilling the local workforce.
The West Virginia Entrepreneurship Ecosystem stands as a model for collaboration and community-driven innovation, offering essential support to West Virginia’s entrepreneurs and small business owners. Tara and Amber’s dedication, along with the contributions of the broader ecosystem, create a powerful foundation for sustainable growth, talent retention, and a thriving entrepreneurial future. A special thank you to Amber Ravenscroft and Tara St. Clair for sharing their experiences and insights within this episode.
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