Entrepreneurship Development Program
Client name: USAID
Duration: Ongoing since 1989
Entrepreneurs perform a vital function in economic development by creating employment, producing goods and services, mobilising capital investment and developing the means to a trade market.
Although essential in any economy, entrepreneurs are particularly important in developing nations, where governments may not have the financial capacity, framework or skills to support entrepreneurs.
In order to increase the number of entrepreneurs in these nations, USAID needs to determine how potential entrepreneurs could be identified, how to train them and how to support them to allow trade and entrepreneurial spirit to flourish.
The US National Science Foundation engaged MSI, Coffey’s Americas business, to perform a 5-year research project. The project employed a research methodology to analyse the behaviours of distinguished entrepreneurs from different countries.
Through the research undertaken, MSI discovered a surprising research finding: successful entrepreneurial behaviours are remarkably consistent from country to country. These findings led to the Entrepreneurial Development Program that has been successfully implemented across 57 countries with over 300,000 participants.
The Entrepreneurial Development Program targets entrepreneurs, university graduates, civil servants and small business owners and focuses on identifying entrepreneurial potential and building on it to stimulate new sources of entrepreneurship.
The program consists of three related training programs:
1. The Entrepreneurship Development Program Installation equips local institutions with the capacity to conduct and sustain the program over time.
2. The Entrepreneurship Workshop helps to identify and expand participants’ potential to create or improve small businesses or other entrepreneurial activities.
3. The Entrepreneurship Selection Workshop instructs people on how to harness the entrepreneurship characteristics that are needed to be successful. The workshop also reinforces these competencies in their own business plans and entrepreneurial endeavours.