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Building Startup Communities: Annapolis Valley
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Building Startup Communities: Annapolis Valley

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How can we encourage the development of an innovative New Media economy in the Valley that encourages small business growth? Paul will introduce us to the proven pillars of open entrepreneurial …

How can we encourage the development of an innovative New Media economy in the Valley that encourages small business growth? Paul will introduce us to the proven pillars of open entrepreneurial ecosystems and walk us through a discussion about what this model may look like here.

Published in: Business, Economy & Finance

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  • 1. Startup Communities Paul Richards July 8th , 2013
  • 2. Startup communities develop innovative, entrepreneurial, growth orientated small businesses. • Small businesses 98% of businesses; • Represent the backbone of the economy; • Small businesses spur innovation; • Diversify the economy and create niche opportunity for youth, immigration and “new economy” jobs. Startup Communities also create growth firms (gazelles); • 1% of small businesses create 40% of new job creation Startup Communities 2Add Footer The “Holly Grail” of economic development
  • 3. Elephant and the Blind Men 3Add Footer It is a question of perspective!
  • 4. • Need a core mass of talent – technical and business • Create the community’s gravity to attract talent • A.B.R. (Always be recruiting) • Leverage academia (students, faculty, and networks) • Recognize your talent gaps and fill them • Talent - 4Add Footer Knowledge is fluid but embedded in people
  • 5. • Group of committed leaders • Action orientated • Leadership should be diverse and represent the full startup ecosystem • focused on a very long view (10 -20 years to live the vision) Entrepreneurs & Leaders 5Add Footer Who will take the lead? Set the example and establish the new norms!
  • 6. • Pursue diversity • Expand networks • Formalize the sharing of ideas • Stage a variety of regular events • Commit to supporting other startups • Be findable Community 6Add Footer Be a region that facilitates the collision of ideas; that is where ideas want to live!
  • 7. • identify the unfair advantages • embrace what is unique & indigenous to the area • don’t try to recreate another community – that boat has already sailed Regional CompetitiveAdvantage 7Add Footer Stop the “Silicon Valley envy “and build on your own strengths
  • 8. • Identify the top 10-15 in your market • Startup Mentors typically come from the startup world • Import what you don’t possess • provide environments for them to connect • always be looking to grow the fraternity Mentors 8Add Footer Metaphorically older and wiser and has traveled the road before
  • 9. • encourage the “lowering of the elavator” • crack the nut on unlocking private investment • Adopt a “pitching culture” • know who is interested in what • build bridges with other communities Access to Capital Capital 9Add Footer Startup communities support their own
  • 10. Baseline Growth of Core Mass Sustainable Ecosystem Startup Community Continum 10Add Footer
  • 11. • Strong research and technical capacity (Acadia, NSCC & Kentville Research Station) • Proximity to Halifax • High quality of life – desirable lifestyle • Emerging technology community (Refresh Annapolis Valley) • Institutional support (innovacorp, ACRI, etc) • VCFN Annapolis Valley Ecosystem 11Add Footer
  • 12. Building a Foundation for a Startup Community 12Add Footer Grow existing businesses and ideas Build a Network for the Community Programs that get people thinking differently Build broad based support to prioritize and focus on your competitive advantage on a sector. Support the growth of technology businesses to establish a stronger core mass. Establish a strong tech-groups to create networking and training opportunities, visibility and excitement. Program to push innovation and create stronger ideas and commercialization skills Build broad based support for growing the knowledge based industry with a shared vision and philosophy.
  • 13. Competitive Advantage (Agriculture ) Develop “ladder” programs Become a “nod”to Halifax Annapolis Valley Focus 13Add Footer Deeper dives to enhance cluster