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Where will the NEXT Amazon or Microsoft come from?


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Where will the NEXT Amazon or Microsoft come from?

  1. Why Startups Matter<br />How you can help make the Pacific Northwest a global innovation hub<br />Bellevue Rotary<br />September 13, 2011<br />Chris DeVore, General Partner, Founders Co-op<br /><br /><br />(206) 801-1080<br />1<br />
  2. Chris DeVore<br />General Partner @ <br />Previously an entrepreneur, product and business guy at…<br />Chris DeVore<br /><br />@crashdev<br />A Seattle native with East Coast + Bay Area perspective…<br />2<br />
  3. Topics<br />Why startups matter<br />How we’re doing<br />What it takes<br />What you can do<br />3<br />
  4. Why startups matter<br />In 2008, US venture-backed companies…<br />Employed 12.1MM people <br />Generated $2.9T in Revenue<br />Represented 21% of US GDP<br /> Source: National Venture Capital Association (NVCA)<br />Most new job creation happens in early-growth stage companies<br />4<br />
  5. Why startups matter here<br />“The key to economic growth lies not just in the ability to attract the creative class, but to translate that underlying advantage into… new high-tech businesses and regional growth. ”<br />Richard Florida, The Rise of the Creative Class, 2001<br />5<br />
  6. A global war for talent<br />Between1995-2005…<br /><ul><li>52% of Silicon Valley startups were founded by immigrants
  7. Most came as students
  8. 74% held graduate or post- graduate degrees
  9. 75% were in sciences, engineering or mathematics</li></ul>In a recent survey less than 20% of foreign students said they want to stay permanently<br />6<br />
  10. How are we doing?<br />“From bad to worse: State slips to 10th in venture capital investment”<br />John Cook, GeekWire, July 20, 2011<br />7<br />
  11. That bad? Really?<br />Source: PriceWaterhouseCooopersMoneyTree Report, 2Q 2011<br />8<br />
  12. How are we doing?<br />“Seattle should be the envy of any non-Silicon-Valley tech community in the country... yet somehow all of the neurons don’t yet seem to be firing as powerfully as they need to be.”<br />Mark Suster, “A Few Key People Really Can Make a Huge Difference”, TechCrunch, May 5 2011<br />9<br />
  13. What does it take?<br />Talent<br />Leadership<br />Anchors <br />Heroes <br />Attention <br />Recycling<br />Capital <br />Time<br />10<br />
  14. Talent<br />Attract the most talented + passionate engineers in the world<br />11<br />
  15. Leadership<br />Cultivate + support leaders who build community<br />12<br />
  16. Anchors<br />Strong + diverse “platform” companies + industries<br />13<br />
  17. Heroes<br />Bigger-than-life local heroes to show it can be done<br />14<br />
  18. Attention<br />Local media that get it + stories worthy of national attention<br />15<br />
  19. Recycling<br />“When I think about the history of Silicon Valley and startup ecosystems in general, this is the pattern I see. Entrepreneurs, angel investors, and VCs take the profits from one deal and turn around and invest in more deals”<br />Fred Wilson, “Recycling Capital”, April 17, 2011<br />Engagement by prior generations of successful entrepreneurs<br />16<br />
  20. Capital<br />Local and out-of-town VCs<br />17<br />
  21. Time<br />“Get ready for a 20-year journey. Most entrepreneurial communities ramp up over a three- to five-year period and then stall or collapse… It takes a core group of leaders — at least half a dozen — to commit to provide leadership over at least 20 years.”<br />Brad Feld, “How To Create a Sustainable Entrepreneurial Community”, October 31, 2010<br />18<br />
  22. How much time?<br />Silicon Valley wasn’t built in a day:<br />6+ generations of technology innovation, market success and redeployment of talent + capital<br />Internet<br />PersonalComputers<br />IntegratedCircuits<br />Venture Capital<br />Microwaves/Defense<br />TestEquipment<br />VacuumTubes<br />1910<br />1960<br />1970<br />1980<br />2000<br />1990<br />1930<br />1940<br />1950<br />1920<br />19<br />
  23. What can you do?<br />Start<br />Mentor<br />Invest<br />Advocate<br />Get involved!<br />20<br />
  24. Thank you!<br />Chris DeVore<br /><br />Twitter: @crashdev<br />(206) 801-1080<br />21<br />