Why being broke is the best start-up strategy there is.
Startups are hard, but not because entrepreneurs don’t have an appetite for hard work. Rather, it’s the constant rejection, the inability to convince people of your glorious vision, and the ever present threat of failure that make pushing forward seem like reckless insanity. The secret to startup success is in embracing that insanity.
Last year, we covered an ambitious collaborative R&D project called "Startup Genome," created by three young entrepreneurs, Bjoern Herrmann, Max Marmer, and Ertan Dogrultan. The goal of the ongoing project was (and is) to take a comprehensive, data-driven dive into what makes tech startups successful -- and not so successful.
Out of its research came, among other things, Startup Compass…
Encouraging to see Bangalore in Top 10 and quite appalled to find Mumbai at 20th. There seems to be a strong bias towards eCommerce, Social Media and marketplaces based products. All the developed Ecosystems seem to have outsourcing as a key for product development. So cost arbitrage does play a role. Not sure if this leads to less product ownership. Something that still makes Silicon Valley great at product innovations as they build their own products. Not surprisingly Silicon Valley leads in product heavy geeky teams and NYC leads in business heavy teams. Which goes to show why Silicon Valley also is the best in incubating ideas at seed stage. No wonder Instagram is a techie company with no revenue yet a $1B valuation. Typically a SV product! More capital available for incubation at SV. So the disruptive innovation still seems to be the core of SV. Are Indian Angels, VCs and entrepreneurs up for it? Or is it just about aping one of these top few areas? Surprisingly Sao Paolo is above Bangalore! goes to show how Brazil is quickly coming to the mainstream radar.
I've gotten many emails about how startup communities grow and develop completely separately from Silicon Valley. Following is an overview of what's driving the Kansas City startup community right now, written by Herb Sih, the co-founder and managing partner of Think Big Partners.
The founders of Think Big Partners toured the startup scene in Silicon Valley before they launched their Midwest business incubator and startup accelerator.
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