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Studies show that the Erie region
Is lagging behind the state and the nation
When it comes to innovation
An entrpreneur expo and a special lunch presentation was held today
It's from a couple of national innovation leaders who want to Ignite Erie
12 News Lisa Adams has the story
Entrepreneurs and those who hope to grow Erie's economic garden
Packed a luncheon to hear two of the nation's gurus on igniting innovation
When communites come together and have a particular focus
On these kinds of opportunities
They can make a lot of progress
Ray Leach knows what he's talking about
In Cleveland his nonprofit, JumpStart
Is all about accelerating the success of entrepreneurs
It pulled Cleveland out of a 12-year stretch
As the worst entrepreneurial economy in the country
And over the last ten years
We've made a huge transformation
Now there's been a couple billion dollars of private capital
That have been invested in small
Start-up companies in greater Cleveland
And it's creating thousands of jobs
And tens of thousands of jobs
When you look at the direct jobs
As well as the indirect spillover jobs
Although our region's big employers like GE are important
Studies show that all net new jobs in the economy today
Are created by firms five years old or younger
The success of Lavery Brewing here in town is an example
Keynote speaker Richard Bendis, an entrepreneur and venture capitalist
Says that's why the ideas of millenials
25- to 35-year-olds are key to Erie's future
Their businesses at JumpStart today are totally different
Than the industrialized and the manufacturing businesses
That were here in the past
It doesn't require as much infrastructure
But what we have to do is to find ways
For them to identify unmet needs in the marketplace
Which they can fill
And utilize their talents and their creativity to address them
But he also encouraged Erie to support existing businesses
What you have to do is identify what your assets are
Identify the gaps around those assets
Build an ecosystem that will support
The growth of small- to medium-sized enterprises
But also don't forget about the existing business
That also resides here
Which is very critical to the economy today
Bendis says igniting Erie will take a public-private plan
And it won't happen overnight
Lisa Adams reporting
Now after the luncheon there were panels
And workshops at the Booker T. Washington Center today
Topics include Finding the Funding
And Protecting Intellectual Property
The day was sponsored by the Erie County Gaming Revenue Authority
And Adreamz Institute
Which is a virtual incubator
Founded by Erie native Carmen Dawson