Venture Capital (VC) for breakfast, VC for lunch, and VC for dinner. That seems to be the common ground for every startup ecosystem, and “everything VC” drives the conversation between entrepreneurs, technologists, marketers and everybody else in our beloved global startup world. This, we have in common.
But the truth is that VC is a growth game. And growth more often than not is global, or at least international and therefore quite standardized. After many years in the startup game, we’ve learned that growth is more ‘math’ and ‘execution’ than anything else.
The magic, in my opinion, lies in the early-stages of company building. Finding your identity, finding a product/market fit, finding your operational excellence, finding and building your human capital – and ultimately creating a self-sustaining organization, with or without hyper-growth.
When we look at Silicon Valley, New York City or London, we see epicenters of startup entrepreneurship. That is the past of the way we work as entrepreneurs. Smaller cities around the globe are popping up and exhibiting an incredible economical and entrepreneurial drive – sometimes stemming from organic growth, sometimes from regional, academic or technological inspiration, and sometimes from external circumstances like political revolutions.
These new hotspots of entrepreneurship, like Berlin, Warsaw, Tel Aviv, or Tunis are all developing their own identity, their own way of life, and their own way of ‘startupping’. And I believe there are differences between these ecosystems: What is the driver for early-stage startups in each local ecosystem? Where do entrepreneurs in your country get a jumpstart? How are young companies built in your city?
Early-stage entrepreneurship will be more and more decentralized in local competence centers and market access gateways, and startups will go through this decentralized system before they, when successful, will end up in traditional Silicon Valley or NYC to raise VC.
Tomorrow’s young companies could look like this: High-tech from Tel Aviv, scalable production from Warsaw, business and operations from Berlin and a market access point in Tunis.
Initiatives like enpact will help us explore local cultures and resources, and create a stronger inter-connectivity. After all, we need to know: What is your ecosystem’s magic?