Building Your Startup Ecosystem
Chapter 1: Startup Ecosystems
What Is a Startup Ecosystem?
A startup ecosystem is a network of startups, investors, and others who come together to foster startup formation and growth. The network fosters innovation through shared resources such as capital, talent, and mentorship.
At the core of the network are startups led by founders who launch high-growth businesses. Accelerators and incubators provide education around the initial launch of the business. Investors, including angels, venture capitalists, online crowdfunding sites, and grant providers, provide capital. Universities provide the talent for launching and supporting startups. Freelancers provide additional talent in the form of labor. Providers offer support for legal, financial, marketing, and other services. And lastly, mentors provide coaching and guidance on how to grow the business.
Events, newsletters, and blogs foster the community through communication. Local corporations may also participate through sponsorship and other support. Look for these elements in building your startup ecosystem.
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