secrets of successful startup ecosystems
Post on 17-Oct-2014
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This morning, I gave a talk on the Silicon Valley ecosystem for guests of Startup Monthly. It was a good talk with GPs from incubator/accelerators from around the world (Ukraine, Russia, Poland, Israel, etc.).TRANSCRIPT
Secrets of Successful Startup Ecosystems
Chris Yeh@chrisyeh
You can’t replicate Silicon Valley…
…But you can learn from it.
Lesson 1
• Entrepreneurs are the essential element in the ecosystem
The rest of us are just service providers
Entrepreneurship isn’t economical
• Of every 1,000 companies that seek angel funding, only 6 make money for investors
• Classic math is that 1/10 companies receive funding, 1/10 of those are hits
• Noam Wasserman found the return on entrepreneurship lagged corporate jobs
Entrepreneurs don’t have option value
Lesson 2
• Make it easy for entrepreneurs to start companies (before they wise up!)
Thanks Hugh MacLeod!
Silicon Valley wins because we reduce the friction of company formation
This gets you to success or failure faster
Entrepreneurs are optimists
• 81% of entrepreneurs think their startup will succeed!
• All you have to do is remove obstacles and they do the rest!
Thanks folks!
Chris Yeh@chrisyeh