By Steve Case, from the book The rise of the rest
Even when entrepeneurs have the best ideas in the world, they have trouble getting out of the gate without a network behind them.
Think of the ecosystem as wheel with seven spokes, connected and in motion. The spokes are comprised of: (1) startups, (2) investors, (3) universities, (4) government, (5) corporations, (6) startup support organizations, (7) and local media. These entities use a variety of levers to help convene, educate, inform, and link startups.
Existing companies, local governments, and investors are instrumental in keeping the ecosystem wheel in motion through the development of different kinds of startup support organizations. These are the visible networking activities that bring startup communities together, support them, and educate the next generation of innovators.
In various cities you'll find incubators, which are physical spaces for startup development with support staff and equipment. You'll find accelerators, which, as the name suggest, help startups grow, with a full range of programs, tools, mentorship, education, and financing. You'll find community builders -those individuals who commit to a larger purpose and brind others together.
We've also found that one of the most consistent driving forces in the emergence of successful ecosystems is universities, which are often the leading laboratories for innovation.
I've includes local media in the ecosystem wheel because it is often the key to amplifying startup news.
The 'seven spokes' is not a magic formula. Startups don't have to check every box in order to thrive. We see cities where entrepeneurs have done well without that. However, the ecosystem wheel is predictive of which cities will rise the fastest.
If communites are going to thrive, they have to provide quality of life, be places where people want to live -whether there is a clean, strong environment, good schools, parks and bike paths, or a vibrant downtown.
Even when entrepeneurs have the best ideas in the world, they have trouble getting out of the gate without a network behind them.
Think of the ecosystem as wheel with seven spokes, connected and in motion. The spokes are comprised of: (1) startups, (2) investors, (3) universities, (4) government, (5) corporations, (6) startup support organizations, (7) and local media. These entities use a variety of levers to help convene, educate, inform, and link startups.
Existing companies, local governments, and investors are instrumental in keeping the ecosystem wheel in motion through the development of different kinds of startup support organizations. These are the visible networking activities that bring startup communities together, support them, and educate the next generation of innovators.
In various cities you'll find incubators, which are physical spaces for startup development with support staff and equipment. You'll find accelerators, which, as the name suggest, help startups grow, with a full range of programs, tools, mentorship, education, and financing. You'll find community builders -those individuals who commit to a larger purpose and brind others together.
We've also found that one of the most consistent driving forces in the emergence of successful ecosystems is universities, which are often the leading laboratories for innovation.
I've includes local media in the ecosystem wheel because it is often the key to amplifying startup news.
The 'seven spokes' is not a magic formula. Startups don't have to check every box in order to thrive. We see cities where entrepeneurs have done well without that. However, the ecosystem wheel is predictive of which cities will rise the fastest.
If communites are going to thrive, they have to provide quality of life, be places where people want to live -whether there is a clean, strong environment, good schools, parks and bike paths, or a vibrant downtown.