Mon, 6 December 2021
Where to Focus Your Startup Ecosystem
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In building your startup ecosystem, focus on the strengths of the community.
Interview the local economic development group to find out what startups already exist.
Talk with investors to find out their interest in startups to fund.
Review the local businesses in the community to see what skills their employees have.
Based on those interviews, determine the strengths of the community, the types of businesses, skill availability, and past successes.
Focus your startup ecosystem on these strengths.
Successful serial entrepreneurs should be at the foundation of your activities.
Invite those entrepreneurs to share their experiences with others.
Interview them to find out what additional opportunities in their industry are open for innovation.
Foster that strategy with the investors and other companies for growing the ecosystem.
There are many hot topic areas in the startup world.
Those topics change yearly.
Don’t chase the latest hot topic but instead focus on the founders, investors, and successful startups in your area to build your ecosystem.
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