This document outlines 10 common challenges for emerging market startup ecosystems and offers responses to each. It notes that 1) there are few investors and most offer poor terms, 2) there are few experienced entrepreneurs, and 3) there are few customers willing to pay. It suggests focusing on traction over features, looking for profitable customer acquisition channels. It also advocates for more exits, distributing equity widely, starting regionally before going global, and having more confidence as the ecosystem matures.