Every city and company wants to be part of one. French startup accelerator TheFamily recently looked at entrepreneurial ecosystems and found that a combination of capital, technical know-how, and rebellion add up to a healthy one. And you need all three elements.
Capital and know-how lack the innovation that rebels supply; rebellion without the other elements doesn’t make money. Drawing on various studies and laws of nature, a recent Kauffman Foundation report identified common traits that support startups. To lift up entrepreneurship, champion diversity, map the participants and their connections, be ready to capitalize on crises, and never place barriers between segments of the business community. You want a garden growing wild.
That’s what has helped make Tel Aviv one of the best tech hubs in the world outside the U.S. and why so many tech CEOs stateside are from somewhere else. One common thread (which also plays out in this recent economic experiment in Nigeria): Don’t prop up the established companies. Support the emergent underdog.
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Photo Credit: Gvahim