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Chattanooga's EPB Sparks Local Entrepreneurial Ecosystem
Chattanooga's EPB Fiber Optics continues to stand out as a model for the municipal broadband movement, demonstrating the extraordinary impact that fast, affordable, reliable Internet access can have on economic development efforts.
Now, a new research report from the Ewing Marion Kauffman Foundation highlights the network’s vital role in kick starting the development of what has become a thriving “entrepreneurial ecosystem” in this city of about 174,000.
Collaboration, Public Private Partnerships
The report, titled "Little Town, Layered Ecosystem: A Case Study of Chattanooga," credits the EPB network as the “spark” for an explosion of economic development since the network's launch in 2010. As the article notes, the EPB estimates that since the launch, Chattanooga has seen an influx of ninety-one new companies with approximately $50 million in venture capital contributions from six firms.
According to the report, the network has also encouraged an entrepreneurial climate in this city that had a “long history of collaboration and public-private partnerships” even prior to the network launch. The report cites examples of the city's collaborative spirit in several non-profit entities, city officials, local anchor companies and universities, and the city’s recently opened Innovation District.
Yasuyuki Motoyama, director of Research and Policy at the Kauffman Foundation and one of the paper's authors, explains the lessons that other cities might take away from Chattanooga’s example:
"Chattanooga organized and mobilized its assets to orient itself to entrepreneurial initiatives. This demonstrates what a small-size city can do when factions from different sectors focus on a common goal and collaborate to achieve that goal. This case of Chattanooga provides lessons for other cities to leverage their own unique assets and to create equally successful ecosystems."