Global Start-Up Communities

Abstract

Although economic globalization has transformed contemporary conceptions of space, location still matters enormously for both individual entrepreneurs seeking to develop a sustainable business and policy makers looking to foster entrepreneurship within a particular city or region. In making the decision where to locate, what factors does an entrepreneur need to consider? What type of region offers a young firm most support in developing innovative products or services necessary to succeed today? And what capacities should government and policy makers be looking to develop in order to ensure that multiple startups decide to start operations in their particular region?This paper focuses on three “success conditions” that we believe are important in assisting entrepreneurs and governments in building successful startups and flourishing startup communities. First, it is important to understand the main risks facing startup ecosystems, notably skepticism, theatre and scaling. Second, the local character (or “Local DNA”) and path dependencies of a region are crucial. Finally, all startup communities need to develop strong links with resources that exist at a global level.