CAMARILLO, Calif.--(BUSINESS WIRE)--A new study published this past July 2020 in the Journal of Policy Research demonstrates that government-funded economic programs that enact a two-step “collaborative learning” model ultimately produce the most economically successful ventures. During a time of economic uncertainty, the study provides findings that are crucial for optimizing public investment in business growth, entrepreneurship, and overall economic vitality.
The study was produced by a team of four researchers, including Ray Bowman, the Small Business Development Center Director (SBDC) of the Economic Development Collaborative (EDC) who recently achieved his Doctorate from Grenoble Ecole De Management. His dissertation included quantitative and qualitative analysis of the services and outcomes of 1,700 SBDC clients over a five-year period and provided the substance for the study’s findings.
Titled “Even Winners Need to Learn: How Government Entrepreneurship Programs Can Support Innovative Ventures,” the study demonstrates that the most successful government-funded programs model a two-step process that focuses on selection and assessment in the identification of ventures to whom public resources will be allocated. The first step is an assessment evaluating a venture’s willingness to commit time to the process; the second encompasses advisor determination of capacity and proclivity for collaborative learning.
The study further yielded that ventures with a proclivity for learning include an extraordinary diversity of women-owned firms and range across a variety of industry sectors and business types.
“Bowman’s published work demonstrates that the EDC’s current business model – one that deliberately fosters collaborative community engagement and learning – delivers the highest return on investment for growing business and economic outcomes,” stated Bruce Stenslie, President of the EDC.
To learn more about the study’s key findings, you can access it online at ResearchGate.
For media inquiries, please contact the EDC’s local media liaison, Lexie Smith, at Lexie@theprbarinc.com.
About the Economic Development Collaborative and Small Business Development Center
The Economic Development Collaborative (EDC) is a private, nonprofit organization that serves as a business-to-government liaison to assist businesses in Ventura, Santa Barbara and Los Angeles counties. In partnership with its Small Business Development Center (SBDC), the EDC offers business consulting, access to capital, and strategic initiatives to support the regional economy.
To learn more about the EDC visit edcollaborative.com.