As Startup Genomes founder and CEO Im here to offer a simplified view of startup ecosystem building.
But, keep in mind, although it may sound simple, its not easy!
you might broadly conceive of the process as following three basic steps.
That means that, at the beginning, growing an ecosystem is basically a local matter.
Thats why, at Startup Genome, we say startup ecosystems are economic communities.
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Think of it as building private sub-communities that support the community of entrepreneurs at the center.
This is why support organizationsacceleration and incubation programs, as well as places to work and gatherare key.
Remember that 2+2 does not necessarily equal 4.
Each of these sub-communities need to connect and learn from each other to help support entrepreneurs and startups.
But before it’s possible for you to close gaps, you must have clarity on where they are.
Its simple: we achieve a higher return on investment when we bet on our strengths.
We call this analysis the Innovation Edge framework.
Then governments role shifts from local to working globally to develop what we call Global Connectedness, i.e.
This is the crucial beginning of a successful global market reach journey.
Getting to this stage isnt easy, but its not magic either.
The path to creating a globally-competitive startup ecosystem is long, arduous, and specific to each particular locality.
Local leaders just need the commitment to adapt tried-and-tested strategies to their particular context.
Story byJF Gauthier
Silicon Valley serial entrepreneur and Founder & CEO of Startup Genome.
