Straight from the Hearth: It Takes a Community
Hello, dear reader, it’s been a while! I took the summer off from writing this column to finish up my Master of Legal Studies with IP Concentration and Health Law Certificate at Rogers College of Law. It was a great experience, stretching mental muscles I didn’t know I had – what can I say? I really enjoy reading and writing legal briefs! I graduated in August, just in time for September’s…
Build Back Better
I’m not delving into politics here. As part of the American Rescue Plan, $3 billion was allocated to the Economic Development Administration to run a set of challenge grant programs. The Build Back Better Regional Challenge received a $1 billion allocation, with the stated purpose of growing new regional industry clusters or scaling existing ones “through planning, infrastructure, innovation and entrepreneurship, workforce development, access to capital, and more.” Sounds like our kind of challenge!
Which brings me to the community
The EDA was clear in its requirement that proposals come from regional coalitions “in coordination with industry and community partners.” We welcomed the opportunity to work with others in the ecosystem. And did we ever! Thanks to the outstanding and tireless work of the Startup Tucson team, a Southern Arizona Coalition was formed that stretched from Yuma in the west to Cochise County in the east, with the City of Tucson acting as coordinating lead institution. Over the course of about 8 weeks, the Coalition authored a compelling water, food/ag, and energy narrative built on five key components: research innovation and translational technology, workforce resilience, high-growth startups and entrepreneurship, sustainable infrastructure, and seed funding.
Which brings me to the community, part 2
Not to diminish from this achievement, but that was the easy part (relatively speaking). Now we need the thought leaders, the innovators, and the doers to jump in and help us put together a robust set of projects for each component. We need entrepreneurs. Because it is an EDA grant, we will have to support each idea with an economic impact, solve real problems – no novelty for novelty’s sake here! – and think big. I’ve written before in this column that startups are the engine of the economy, and entrepreneurs the fuel, so “we need to adopt regional, long-term thinking that supports entrepreneurial sustainability.”
On that note, did you catch October’s AMA?
My guest at October’s FORGE AMA was John Lai, Chairman and CEO of Tucson’s $5 billion IPO, Mister Car Wash. John also happens to serve on FORGE’s external Strategic Advisory Council. But what stood out from our conversation the most was John’s laser focus on company culture and equating happy employees to world-class customer experience. When I speak and write about cultivating an entrepreneurial mindset in students, I’m referring to developing critical thinking and analytical skills that empower employees to think like owners. John “inverts the pyramid” and puts all his employees at the top, as owners of something they believe in.
So, what’s next?
If you’d like to learn more about the EDA proposal, or get involved, feel free to contact me. In particular, I’m interested in pooling the investor community into a seed fund for the most promising companies coming out of this effort.
Speaking of funds (and community), my guest at November’s FORGE AMA will be Kevin Groman, co-founder and general partner at the Sonoran Founders Fund. Please join me on November 17th and bring your questions.