Entrepreneurs: Why some stay, some leave

Martin Luther King said, "The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy."

With Nevada's real unemployment over 24 percent, these are times that certainly qualify as challenging for many men and women in northern Nevada. New jobs and the creation of more new jobs will meet this challenge head on. We, the community of business, academic and government leaders, are charged with this task. Without effective leadership our entrepreneurs and brightest young minds will be forced to go elsewhere to pursue their dreams. But, before we can lead, we need to comprehend the motivations of why some young people stay and what drives them to pursue their dreams here.

Where do we, as community leaders, stand? What are we doing to bring our combined strengths together to create jobs and offer a work environment for those who want to stay?

Within the C4CUBE business incubator, we have seen hundreds of innovators, inventors and eager entrepreneurs seeking mentoring on how to start their business and grow it in northern Nevada. We are seeing evidence that many of these young people are highly creative in their search for ways to stay and work in this area.

As an example, we met Michelle Fox a few years ago. After a brief internship with C4CUBE, she was hired by Eye-Com Corporation in their marketing group. It has been a pleasure watching her grow and greatly expand her knowledge and value over the last several years. We asked her why she stayed in northern Nevada. We need to take her comments seriously as this gives us real input from the young entrepreneurial generation that some of us more "mature" individuals may have forgotten.

Michelle writes: "I graduated summa cum laude from UNR with a bachelor's degree in business management in 2008. To be honest, I had no intention of staying in Reno after graduation. My plan was to move to Southern California, where it's warm. I would live and work down there until I established California residency, so I could get in-state tuition for a master's degree at a "brand name" UC school. My bags were packed and ready to move, when I was presented with an opportunity that persuaded me to stay.

I was introduced to Ky Good and Norman Smith, who were launching a non-profit business incubator, Center for Unique Business Enterprises (C4CUBE), and were in search of an intern. The objective of C4CUBE is to foster innovation and the growth of new ventures that would not only create jobs but also stimulate our ailing local economy. The prospect of getting involved with something this exciting is all it took to change my mind about leaving this city.

There is no question that Reno is in dire need of diversification; it must move away from dependence on the gaming industry. With the increasing presence of Indian casinos and the decreasing amounts of expendable income in people's bank accounts, the gaming industry in Reno, in my opinion, will never return to previous levels. And let's be realistic, few people complete their degrees with the intention of landing a position at a casino. These establishments offer a plethora of jobs, but have little appeal to most UNR graduates.

What graduates want, especially those from my generation, is a job that is invigorating and offers a clear path for advancement - rapid advancement. Part of the reason most UNR students aren't sticking around is because of the assumption that these kinds of jobs don't exist here. They leave Reno for bigger cities in anticipation of more options and greater opportunities, but what they don't realize is that Reno is changing.

Companies in technology, alternative energy, biomedical, and supply chain industries are relocating their operations here every year. Several Fortune 1000 companies, like Cisco Systems, IGT, Intuit and Microsoft, have headquarters in Washoe County and are some of the largest employers in the area. In addition, with the help of organizations like C4CUBE and the enthusiasm of local entrepreneurs, small startup companies are popping up as well.

After a summer of assisting C4CUBE with Business Opportunity Forums and Entrepreneur Bootcamps, I was offered a full-time position with a local high-tech startup company, Eye-Com Corporation, which is an eye tracking technology research and development company. Before I started working here, I had no idea this kind of technology existed, let alone was being developed right here in my hometown. In fact, when I tell people about my work and our technology's capabilities, the common reaction is, 'Something that cool exists in Reno?!'

This lack of awareness of what 'cool' things Reno really does have to offer is where the problem of graduate-migration lies. If northern Nevada is to retain UNR graduates, there needs to be more effective communication by local companies about the opportunities that currently exist and the growth that will occur in the near future. Here is what I would do: 1) implement stronger on-campus recruiting efforts, 2) offer more internship programs, and 3) establish greater interaction with the student body to find out what students are looking for after graduation and what it will take to keep them here.

Graduates need a reason to stay; otherwise they will hit the road assuming there are bigger and better things elsewhere."

I like reading Michelle's comments. She does not hesitate to pinpoint problems and more importantly, she is equally direct to offer potential solutions.

Let's listen to Michelle and others like her. Maybe we have missed something along the way.

Ky Good is managing director of C4CUBE, a business incubator in Reno. Contract him through http://www.c4cube.com.