Economic Development

Economic development, a branch of public policy, may not sound like an entrepreneurial career, but entrepreneurship is actually the backbone of economic development. You see, entrepreneurs and startups create almost all net new jobs in the United States. Even if you do not live in the United States, your country is probably going down the same path.

Furthermore, the innovation landscape is changing. Traditional innovation ecosystems, powered by large corporations, are being replaced by startup ecosystems. Rather than conducting research and development internally, large corporations have begun relying on startups, which often get acquired by larger firms, to produce the next wave of innovations.

In the not-so-distant future, economic development professionals and policy makers will need to focus more on cultivating startup ecosystems, rather than catering to large corporate interests. Economic development will soon be about creating ideal conditions for entrepreneurs so that they can launch successful startups, which attract talent and investment to emerging regions.

Since economic development professionals will be focused on entrepreneurs and startups, who do you think the best policy makers for economic development will be? You guessed it. People with entrepreneurship experience. If you want to join the next generation of economic development policy makers, you should gain experience launching ventures.

The recommended posts will offer you exposure to the economic development field and the issues that next-generation policy makers will face. Additionally, our entrepreneurial career coaching can offer you guidance for entering the economic development field. However, we strongly discourage you to stay away from economic development until you understand entrepreneurs and the challenges they face.

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