Examine regulatory requirements for start-ups Minimize regulatory hurdles for business start-ups where appropriate

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MIND MAP OF KEY ELEMENTS FOR IMPROVING STATES ECONOMIC HEALTH THROUGH ENTREPRENEUSHIP
Optimize Regulatory Environment Formulate State Entrepreneurship Strategy

Specify goals and set priorities Strengthen the institutional network Identify state specific challenges Ensure coherence of entrepreneurship strategy with other policies Measure results, ensure policy learning

Build entrepreneurs' confidence in the regulatory environment Guide entrepreneurs through the start-ups admnistrative process and anhance the benefits of formalization

Support greater diffusion of ICTs to the private sector

Promote inter-firm networks that help spread technology and innovation

Facilitate Technology Exchange and Innovation

EMPRETEC Entrepreneurship Policy Framework and Implementation Guidance

Enhance Entrepreneurship Education and Skills Development

Embed entrepreneurship informal and informal education Develop effective entrepreneurship curricula Train teachers

Build bridges between public bodies, research institutions, institutes and the private sector Support high-tech start-ups

Raise awareness about entrepreneurship opportunities

Promote Awareness and Networking Improve Access to Finance

Improve access to relevant financial services on appropriate terms Build the capacity of the financial sector to serve start-ups Provide financial literacy training to entrepreneurs and encourage responsible borrowing and lending

Partner with private sector

Highlight the values of entrepreneurship to society and address negative cultural biases

Stimulate private sectorled initiatives and strengthen networksamong entrepreneurs

Promote funding for innovation

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Set up specific targets or measurable objectives to increase entrepreneurial activity

Set up surveys for assessing the state entrepreneurial environment

Obtain clarity about priorities and types of entrepreneurship the State wishes to encourage

Set up specfic policies in place to favour startups and SMEs

Set up a dedicated policy framework and strategy to promote entrepreneurship

Initiate multistakeholder fora to promote policy dialogue on entrepreneurship

Identify ministry / agency / institution championing the cause of entrepreneurship, identify ministerial level entity in charge of coordination of strategies Support regular independant policy evaluations

Formulate State Entrepreneurship Strategy

Set up annual periodic report on the state of entrepreneurshi p in the state Coordinate entrepreneurshi p policy with other states' / national policy

Set up deliberate policyto promote formal entrepreneurial activity among specific groups of the population

Set up specific policies to ensure transition to the formal business sector

Assess the impact of policy measures

Incorporate feedback from lessons learnt

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Assess process of starting business. Benchmark time and cost. Obtain good overview of sectorand region-specific regulations

Introduce alternative dispute resolution mechanisms

Offer mechanisms to make contract enforcement easier and faster

Allow bankruptcy laws to allow business restarts

Set up regular publicprivate dialogue on regulatory costs and benefits in place

Initiate process of weeding out unnecessary regulations

Optimize Regulatory Environment

Offer services to assist start-ups in meeting regulatory requirements

Set up fast track mechanisms and one-stop shops to bundle procedures. Encourage ICT based administrative procedures

Set up special provisions for social entrepreneurship

Ensure transparency in business establishment procedures. Ensure business regulations availability online; tutorials for startups; information on business regulations available to disadvantaged groups

Introduce entrepreneurship as a subject in state curricula

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Have provisions of specific training and incentives for teachers Encourage schools to engage with business practitioners and local entrepreneurs

Ensure that policies pomote key entrepreneurship skills training in schools, including both attitudes and enabling skills

Encourage academic institutions and support them in providing training, counselling and diagnostic advisory services to early-stage entrepreneurs

Ensure entrepreneurship is explicitly recognized as an objective of the national curricula for vocational, technical and commercial school of secondary level Ensure curriculum designers develop local case studies and entrepreneurship course materials to be used in the classroom Ensure mentoring and coaching skills availability to develop entrepreneurs skill-sets Promote extra-curricular entrepreneurial activity (e.g., student activities, business plan competitions, business development programmes, etc.) Establish / augment state, regional level entrepreneurship educators networks to facilitate the application of programmes

Ensure that policies recognize specific needs of youth, women and other target groups Ensure entrepreneurship training programmes take place outside formal education system; that they recognize low-literacy groups and those in rural areas Introduce interactive and experience-based teaching approaches in educational system

Enhance Entrepreneurship Education and Skills Development

Leverage private sector funding for entrepreneurship education

Augment measures to encourage financial institutions to lend to start-ups and SMEs

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Encourage banks accept intellectual property rights as Set up incentives for venture collateral capital and the development of networks of business mentors or supporters, including business angel networks Encourage developmentoriented funds to invest in seed capital and small firms Take steps to improve access to finance for target groups (minorities, youth, women, immigrants, expatriates, those in rural areas) Set up / periodically review a financial charter for the state Provide appropriate supervision and regulation to prevent unsustainable lending

Consider bank (and other) financial sector reporting of lending by size of firm

Provide Access to Finance

Set up public-private funds for entrepreneurs

Set up formal courses on financial literacy designed and available to MSMEs

Promote FDI to broaden access to finance for local entrepreneurs

Encourage factoring and leasing schemes

Adopt financial service provision through post offices and other proximity lenders; encourage new banking technologies (e.g., mobile phone banking)

Set up / promote the utility of credit bureaus Ensure availability of training to lenders to design ways to expand lending activities to SMEs and entrepreneurs

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Carry out campaigns to promote entrepreneurship

Ensure that policymakers communicate their support for entrepreneurship in speeches, and communicate the link between entrepreneurship and economic development

Take measures within the public sector to raise awareness of entrepreneurship issues with officials Take part in global entrepreneurship awareness initiatives such as the Global Entrepreneurship Week

Encourage and recognize Corporate Social Responsibility Set up information platforms on entrepreneurship and trade opportunities Set up regular publicprivate dialogue on regulatory costs and benefits in place

Promote Awareness and Networking

Engage in public-private partnerships to organize entrepreneurship awareness activities such as entrepreneurshipawareness fairs or entrepreneurship fora Support competition, awards or similar events to publicly recognize entrepreneurs

Set up measures to engage with international diaspora Support networks of entrepreneurs and business leaders

Support competition, awards or similar events to publicly recognize entrepreneurs

Offer services to assist start-ups in meeting regulatory requirements