Entrepreneurship Development Program
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Entrepreneurs perform vital functions in economic development to mobilize capital, add value to natural resources and services, develop the means to produce necessary goods and services, create employment and develop the means by which trade is conducted. Without entrepreneurs, there would be no economic development. Most management training programs strengthen skills in business accounting, feasibility analysis, and marketing and inventory control.
But few, if any address the fundamental question of how to identify entrepreneurial potential, enhance that potential and stimulate new sources of entrepreneurship.
Through the USAID research project, MSI discovered a surprising research finding: successful entrepreneurial behaviors are remarkably consistent from country to country. The research and subsequent testing identified 10 Personal Entrepreneurial Characteristics (PECs) and 30 behavioral indicators found to be most useful for detecting and strengthening entrepreneurial potential.
The program has been heralded by the late Professor David McClelland, the Harvard University psychologist who helped launch the entrepreneurial revolution, as “the most significant new development in entrepreneurship training for more than two decades.”
MSI’s Entrepreneurship Development Program consists of two trainings that identify business potential and stimulate a sustainable source of entrepreneurship: Entrepreneurship Development Program Installation and The Entrepreneurship Workshop.
The Entrepreneurship Development Program Installation equips local institutions with the capacity to conduct and sustain the program over time. More than 300 trainers in 14 countries have been certified worldwide. The installation incorporates:
• Selecting, training and certifying local trainers.
• Training local staff in participant recruitment and administrative support for EDP.
• Training local program staff, bank officials and trainers in procedures for identifying individuals with high entrepreneurial potential.
The Entrepreneurship Workshop is, an 80-hour program that enhances participants’ ability to expand their businesses and succeed in other entrepreneurial endeavors. More than 300,000 individuals from 57 countries have successfully completed this program. During the workshop, participants learn to:
• Recognize, practice and enhance their use of the behavioral competencies of successful entrepreneurs.
• Apply these behaviors in their own businesses, including presentation of a business plan to a panel of local bankers and venture capitalists for potential funding.
The Entrepreneurship workshop has been offered to the existing and potential entrepreneurs and to specialized audiences including technology entrepreneurs, unemployed university graduates, outplaced civil servants, and indigenous micro-business owners. It has been offered as a standalone program and integrated into broader programs of employment and job creation, civil service retrenchment and military demobilization, management training in existing enterprises, vocational training, youth development, business development for women, and refugee assistance.