Startups are a gamble, but it’s possible to better understand why some thrive and many more die by looking at the ecosystems in which they operate. Such is the mission of eight-year-old Startup Genome, composed of a group of researchers and entrepreneurs who, every year, interview thousands of founders and investors around the world to get a better handle on what’s changing in the regions where they operate, and what remains stubbornly the same.
More than one analogy was used Wednesday to describe the third annual Innovate UM conference held in downtown Missoula, be it planting the seeds of tomorrow or rowing with all oars in the same direction.
Until recently, most venture capitalists were reluctant to invest in startups outside the Bay Area. I know because half the VCs I pitched when I started my company turned me down because of my location.
Data on which startups are getting funded in Heartland communities or which venture capital firm just closed a new fund is easily available. But what kind of data is actually useful in determining whether a startup community is seeing progress in producing more fast-growing startups?