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In today's rapidly evolving economy, the traditional boundaries between academia and industry are becoming increasingly blurred. As businesses seek innovation and universities strive to produce job-ready graduates, the need for collaboration between the two has never been greater. For universities to effectively engage with businesses, careful preparation and strategic initiatives are essential. This article explores key steps that universities can take to prepare for fruitful partnerships with businesses.

Cameron Law, EDP, executive director of the Carlsen Center for Innovation & Entrepreneurship at Sacramento (Calif.) State University, is part of the second cohort of certified Entrepreneurship Development Professionals. IEDC’s EDP credential is designed to build capacity for those supporting entrepreneurship in their communities, and demonstrates the skills and expertise to lead communities through entrepreneurship-led economic development (ELED). Why did you decide to pursue the EDP credential? As an entrepreneurial ecosystem builder, I look at economic development through the lens of entrepreneurship-led economic development. When I learned of the EDP credential, I knew it would bolster my work and also provide me with ...

The legal cannabis industry in the United States now supports 321,000 full-time jobs in 37 states. More than 77,000 legal cannabis jobs were added in 2020, and there are now more legal cannabis workers than electrical engineers, EMTs and paramedics, and dentists. The legal cannabis industry thrived in 2020 in spite of, and likely because of, the COVID-19 pandemic. Americans spent $18.3 billion on legal cannabis products, a 71 percent increase from 2019. Regular customers also spent an average of 33 percent more per month. Despite the industry’s impressive growth, racial and gender disparities remain. Black Americans make up 13 percent of the nation’s population, but represent less than 2 percent of cannabis business owners. ...

Supporting and growing a strong entrepreneurial ecosystem is an important strategy that can benefit your community, the local economy and small business owners themselves. But the opportunity to become an entrepreneur is not equally accessible to everyone. In particular, African-Americans, Latinos, people of color and women are starting businesses at lower rates, are less likely to have additional employees and have lower profits. This disparity affects not only small business owners from these underrepresented population groups, but the communities they live and work in as well.

The House last week passed legislation which addresses one of the biggest challenges facing the cannabis industry — access to capital — and also promotes inclusive entrepreneurship. The Secure and Fair Enforcement (SAFE) Banking Act, which would provide protections to financial institutions that work with cannabis businesses, passed the House on a bipartisan basis and represented the first-ever vote on a stand-alone cannabis bill. The measure still faces an uncertain future in the Senate, however. Only about one in 30 banks or credit unions currently does business with a cannabis company. Many are so concerned about risk and reputation they won’t even work with those tangentially related to the cannabis industry. This ...

Wytheville, Va., revitalized its Main Street by holding a small business competition for budding entrepreneurs, which allowed two breweries, a Vietnamese bakery, and an art school to open in the small town located in Virginia’s coal country, and precipitated millions of dollars in investment. The first significant step local leaders took to address a long-term industry and population decline, business closures, and increased vacancies was to improve sidewalks, lighting, and crosswalks. But, as relayed in Brookings' The Avenue, officials soon realized that Wytheville’s most valuable asset was people — aspiring entrepreneurs who wanted to start their own businesses. With a grant from the Virginia Department of Housing and ...

What’s needed to foster entrepreneurship is different today than it used to be. Following up on an earlier installment, this article shares advice on how to build around your community’s assets, invest in people, capitalize on diversity, and break down barriers to grow meaningful entrepreneurship and innovation programs.

Why do so many innovation districts and entrepreneurship programs fail to deliver the impacts that we want? Learn how assumptions often hamper our ability to harness and grow meaningful entrepreneurship. A second article in this series will offer recommendations for next-generation innovation programs.