Rural communities are rejuvenating themselves through developing a place-based entrepreneurship ecosystem.
An entrepreneurship ecosystem is a network or interconnected systems that support the activity of setting up a business.
Across Australia, many rural and regional communities are facing economic and social decline due to structural economic changes and significant out migration to cities and urban centres.
ACRE and its partners seek to reverse these trends and enliven rural and regional communities through entrepreneurship, using a suite of programs and initiatives. To ensure that these programs and initiatives are well-designed, appropriately positioned and ultimately effective, a clear understanding of the local entrepreneurial ecosystem is required.
Why measure an enterprise ecosystem
Ecosystem measurement allows Councils, organisations and communities to identify and track over time the key elements contributing to the enterprise ecosystem in a region and understand the indicators required for a community to become agile, resilient and enterprising.
Developed by ACRE, the Thrive Framework is a measurement tool and methodology for understanding the potential of a community’s entrepreneurial ecosystem and track progress over time.
The Thrive Framework has been created by examining the interconnected factors that enable rural communities to thrive sustainably, drawing from over 100 rural case studies both locally and internationally.
The framework acts as an engagement, strategy and impact measurement tool, utilising a systems and place-based approach to harness the power of social enterprise and entrepreneurship to create opportunities and solve local issues.
Using a maturity assessment, Thrive empowers communities to unlock insights, identify entrepreneurial capability, leverage their strengths to drive action across five key domains: Education and Training, Networks and Support, Infrastructure, Funding and Capital, and Culture and Aspiration.
The Thrive Framework In Action
In 2020, ACRE partnered with local leaders from the bushfire-affected community of Mallacoota to baseline the entrepreneurial ecosystem and identify opportunities to build an agile, inclusive, and enterprising local economy. This led to the creation of the Wilderness Collective, an anchor organisation working across sectors and generations to realise their vision for ‘a life fully lived’ in Mallacoota.
The Thrive Framework has been recognised globally, featuring in the Global Manifesto for Rural Social Enterprise, providing a powerful template for rural communities.
Contact us to discuss how this tool can support your community led rejuvenation journey.