Title: Changing the equation for rural prosperity in a global world

Authors: Kathleen R. Allen, Timothy M. Stearns

Addresses: Lloyd Greif Center for Entrepreneurial Studies, University of Southern California, Bridge Hall One, Los Angeles, CA 90089-0801 USA. ' Lyles Center for Innovation and Entrepreneurship, California State University, Fresno, 5010 N. Woodrow Avenue M/S WC142, Fresno, CA 93740 USA

Abstract: Rural communities have been engaged in a battle with urban centres for over a century in an effort to combat the loss of population, jobs and wealth. Despite the failure of traditional economic development methods, the battle has continued in the 21st century. In this paper, we argue that the battlefield has changed. Globalisation has replaced urbanisation as the dominant force affecting economic growth in rural communities, so traditional efforts that focus on individual communities and small non-technology businesses are no longer effective. Using a pilot study, we are conducting in the Northern Plains of the USA, we test a framework for a new model of economic development that focuses on regional collaboration, innovation and technology entrepreneurship with equity investment.

Keywords: economic development; entrepreneurship; technology commercialisation; innovation; regional collaboration; globalisation; technology transfer; rural prosperity; rural communities; equity investment; technopreneurship.

DOI: 10.1504/IJTTC.2009.024907

International Journal of Technology Transfer and Commercialisation, 2009 Vol.8 No.4, pp.302 - 315

Available online: 03 May 2009 *

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