secrets of successful startup ecosystems

12
Secrets of Successful Startup Ecosystems Chris Yeh @chrisyeh

Post on 17-Oct-2014

1.296 views

Category:

Business


5 download

DESCRIPTION

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

Page 1: Secrets of successful startup ecosystems

Secrets of Successful Startup Ecosystems

Chris Yeh@chrisyeh

Page 2: Secrets of successful startup ecosystems

You can’t replicate Silicon Valley…

Page 3: Secrets of successful startup ecosystems

…But you can learn from it.

Page 4: Secrets of successful startup ecosystems

Lesson 1

• Entrepreneurs are the essential element in the ecosystem

Page 5: Secrets of successful startup ecosystems

The rest of us are just service providers

Page 6: Secrets of successful startup ecosystems

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

Page 7: Secrets of successful startup ecosystems

Entrepreneurs don’t have option value

Page 8: Secrets of successful startup ecosystems

Lesson 2

• Make it easy for entrepreneurs to start companies (before they wise up!)

Thanks Hugh MacLeod!

Page 9: Secrets of successful startup ecosystems

Silicon Valley wins because we reduce the friction of company formation

Page 10: Secrets of successful startup ecosystems

This gets you to success or failure faster

Page 11: Secrets of successful startup ecosystems

Entrepreneurs are optimists

• 81% of entrepreneurs think their startup will succeed!

• All you have to do is remove obstacles and they do the rest!

Page 12: Secrets of successful startup ecosystems

Thanks folks!

Chris Yeh@chrisyeh