The Foundation of Start Up Ecosystems

Posted by Jeff Carter
on October 1st, 2012

Today I penned a column for Crain’s Chicago Business. A few people around the US are thinking a lot about how to jumpstart an entrepreneurial ecosystem. 99.9% of the time, they are interested in creating another Silicon Valley.

When many people get involved, they try to make a bunch of money off of it. Or, politicians will try and start it using government money for the cause of job creation.

That’s the wrong approach.

Silicon Valley is unique. There are ways to do it and I have spoken with different people and cities around America about it. There was a method to my madness when we started in Chicago.

However, wherever you decide to try and foster an entrepreneurial ecosystem, don’t forget about the little guys. The Mom+Pop businesses add a dimension to your ecosystem that makes it unique and gives it stickiness. That great hair salon, that great sandwich shop, that great restaurant can stimulate more growth. As I said in the article, can you imagine Chicago without it’s hot dog stands?

Find those initial risk takers, and match them with the dreamers. Take them for a cup of coffee and sandwich at a nice Mom and Pop place and map out how you will build. Then start investing and building.

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