How can a contemplative critique on religious teachings, published in 1841, apply to modern, tech entrepreneurship? What if the essay conveys transcendental knowledge, individualism, and Indian religious principles? Okay, this is starting to sound like Steve Jobs’ wilderness years… Do you want to see where it goes?
Here are three lessons in entrepreneurship from Compensation, an essay by Ralph Waldo Emerson:
Do. (Startup Commons’ mantra in case you were wondering)
“Do the thing, and you shall have the power.” This quote from Ralph Waldo Emerson’s Compensation sums up entrepreneurial existence. Anyone can conceive a grand idea, but the people who manage to execute on their visions are few and far between. Furthermore, all of the rewards and accolades go to the doers, not the theorizers and critics on the sidelines.
Whether you are looking to build a company or cultivate a startup ecosystem, there is only so much theorizing and planning you can do. At a certain point, you just need to act on your ideas and focus on implementation. Influence and power come to those who do; the entrepreneurs of the world.
Karma (You get what you give)
Although Emerson studied at Harvard Divinity School, he was heavily influenced by Indian religious teachings, which are reflected in the Transcendentalist movement he founded. Karmic principles are a resounding theme in Compensation. “Always pay; for first or last you must pay your entire debt,” wrote Emerson. “He is great who confers the most benefits.” How does this apply to high-tech entrepreneurship?
In the face of tumultuous ups-and-downs, entrepreneurs must remain resilient and optimistic that the work they put in will eventually pay off. Data-driven businesses, such as social networks and fintech operations, often require significant upfront investment before they can be monetized since value often comes in the form of network density and information exchange. The same principles hold true for bloggers and content creators who must build up followings before they can cash out on their networks. Essentially, you will eventually be repaid if you provide value, but on the flip side, you will have to pay if you take value away from society.
Investment (Invest in human capital)
“It is best to pay in your land a skilful gardener, or to buy good sense applied to gardening… So do you multiply your presence, or spread yourself throughout your estate.” Even back in 1841, Emerson understood the power of division of labor and delegation. He also knew that “the real price of labor is knowledge and virtue, whereof wealth and credit are signs.”
When you are building a venture, investing in talent and delegating responsibility play vital roles in startup success. Additionally, if you are an angel investor or venture capitalist, you must seek out entrepreneurs with proven knowledge and virtue.
Since many entrepreneurs and startup employees may lack track records and wealth, investors and lenders should look for other signals when seeking to extend credit. KPIs and data can provide strong signals for investors. For example, information on events that founders attend, accelerators in which a startup participates, and social networks that employees cultivate can provide valuable insights regarding a team’s knowledge and virtue.
What have we learned from Ralph Waldo Emerson?
In the United Nation’s World Economic and Social Survey 2013, the Department of Economic and Social Affairs stated that “unless human development and environmental protection goals are integrated, they will remain in competition, jeopardizing both sets of goals.” How can we reduce global income inequality, lift over 1 billion people out of extreme poverty, and reverse environmental degradation simultaneously?
This complex issue requires a fundamental shift in how we approach economic development. Governments need to harness the power of public-private partnerships to align human development and environmental protection goals. What follows is a three-pronged strategy to help us pursue sustainable development.
1. Create public-private partnerships for sustainable development
Public investment in economic development should focus on leveraging private resources and capital for sustainable initiatives. In order to leverage private resources, the public sector can pursue pooling mechanisms, equity finance, social impact bonds, job bonds, trade credit offsets, and data sharing.
The goals of public-private partnerships should be to create an overarching authority, assign roles to key players, and streamline funding for development. In such arrangements, it is essential that the public sector keeps pace with the private sector and that outcomes are measurable.
In order to foster sustainable development, public-private partnerships should have two objectives: fostering startup ecosystems in developing economies and using social psychology to alter consumption and investment habits.
2. Foster startup ecosystems in developing economies
As our global society becomes more interconnected and the pace of technological change accelerates, fostering startup ecosystems is the most effective way for developing economies to cultivate environmentally-friendly businesses, compete on a global scale, and boost GDP. In order to foster startup ecosystems, the public sector should focus on partnerships that utilize equity finance, data sharing, and trade credit offsets.
Regarding equity finance, the public sector can make direct investments, taking stakes in companies, or indirect investments, investing in equity and debt funds. It is wise for governments to pursue both strategies by making direct investments in sustainable, startup-ecosystem builders and participating in sustainable venture capital, as well as real-estate, funds.
Data sharing plays an essential role in enabling governments and ecosystem builders to visualize, benchmark, and accelerate startup-ecosystem growth. On the ground level, governments need to convince startups and entrepreneur-support organizations to share their data. This can be done by giving users control of their own data and tying funding incentives to data sharing. At the top level, governments and key ecosystem builders should form public-private partnerships to manage and act on aggregated data. Organizations, such as Startup Commons Global, can assist in the formation of data-sharing partnerships.
According to M-CAM, the originator of TCOs, offsets are like coupons for foreign businesses that can be repaid to the country with which they are conducting business in three ways: cash, training/capacity building (3X cash value multiplier), and proprietary technology transfer (10X cash value multiplier). Governments should focus on using trade credit offsets to encourage foreign businesses to train entrepreneurs and supply knowledge to startups within their national ecosystems.
While fostering the growth of startups, governments should simultaneously work with the private sector to alter consumption and investment habits so that markets effectively support sustainable startups.
3. Use social psychology to alter consumption and investment habits
In “The Psychology of Human Misjudgment”, Charlie Munger, Vice-Chairman of Berkshire Hathaway, outlines 25 social-psychological principles that affect human behavior. By applying a mixture of these principles, public-private partnerships can influence changes in consumer and investor habits, resulting in more sustainable business practices.
To alter consumer behavior, state and local governments should use social impact bonds and job bonds to leverage private investment for bolstering the market-penetration efforts of sustainable, local startups, such as aquaponics farms. These innovative financing mechanisms are preferable to subsidies because they minimize downside risk for governments, provide political viability, and give private investors skin-in-the-game.
Once private investors have infused capital into startups, the parties should focus marketing and sales efforts around Munger’s principles. For example, they can use Influence-from-Mere Association Tendency to spread local-food preferences within community organizations, such as churches and university clubs. Additionally, they can harness the power of Inconsistency-Avoidance Tendency by having people make public-voluntary commitments to the local food movement.
In order to entice investors to fund sustainable initiatives, governments are already experimenting with securitization of small-scale, green loans. These loans can cover sustainable initiatives, such as businesses and homeowners putting solar panels on their roofs. Since people are skeptical of securitization after the 2007-2008 financial crisis, social proof will be essential in creating the market for green asset-backed securities. As a higher number of reputable institutions invest in such securities, more investors will join the movement, due to social proof.
By applying simple social psychology, the public and private sectors can collaborate to reduce carbon emissions, while simultaneously opening new markets and creating jobs.
4. What can you do?
Whether you are acting in the public or private sector, you can do three things to help with human development and environmental protection:
The “Jemez Principles” for Democratic Organizing list six concepts that NGOs, governments, and activists should follow to empower the people they represent. These principles are directly applicable to startup-ecosystem development.
1. Be Inclusive
When developing startup ecosystems, all stakeholders should have seats at the table. These stakeholders include owners, employees, investors, governments, NGOs, large corporations, traded businesses, and local businesses. Do not fear different perspectives. They will ultimately contribute to stronger solutions.
2. Emphasis on Bottom-Up Organizing
Startups must play a central role in startup-ecosystem development. If you want to grow your startup ecosystem, it is essential to mobilize founders and employees. You can create as many tax incentives and angel investor networks as you want, but if people are not motivated to start and scale companies, growing your startup ecosystem is a lost cause.
3. Let People Speak for Themselves
Startup founders and employees should dictate the services they receive and have a say in the policies aimed at them. Additionally, the European Union will be implementing General Data Protection Regulation (GDPR) so that individuals have a say in the data collected on them. To help startup-ecosystem developers comply with GDPR, Startup Commons has built data-collection platforms that place users in control of their data.
4. Work Together in Solidarity and Mutuality
Startup-ecosystem developers are all working toward the same goals of supporting startups and fostering economic development in their regions. Therefore, startup-ecosystem developers should collaborate and complement each other, rather than providing overlapping services and competing for resources. Startup Commons’ Ecosystem Mapping Application solves this problem by helping organizations visualize how they fit into their larger ecosystems and discover niches for themselves.
5. Build Just Relationships Among Ourselves
In competitive capitalism, we often fail to treat each other we justice and respect. Distribution of resources and decision-making privileges should be a meritocratic process. By gathering clear data and KPIs, organizations can hold each other accountable and distribution can become a more just process. Startup Commons’ KPI Database and Dashboard assists startup-ecosystem developers in achieving accountability.
6. Commitment to Self Transformation
Startup-ecosystem developers must “walk their talk” and embody the values they hope to cultivate. It is difficult to support entrepreneurs if you fail to practice entrepreneurial principles in your own life. One way to start is by adopting the Startup Commons Business Plan Tool in your organization or government agency. If you would like further guidance, The Startup Way, written by Eric Reis, explains how you can apply entrepreneurial management principles to your organization.
As a startup-ecosystem developer, you should always keep the “Jemez Principles” close to your heart. Now that you understand these powerful principles, go out and apply them to empower your people.
When silos exist in startup ecosystems, systems, processes, and organizations act in isolation. Silos create inefficiencies that ultimately harm startups, along with the other organizations involved in the ecosystem.
For startup ecosystems to retain good health, the flow of data, knowledge, talent, funding, and other resources is essential. In this post, we will explore three types of silos that generate inefficiencies and stagnate startup ecosystems, stopping the flow of resources and ideas.
1. Insufficient Ecosystem Mapping
When roles of entrepreneur-support organizations are not transparent, startups often have difficulty figuring out which organizations to work with, and organizations’ operations often overlap significantly. Startups need specific assistance during each stage of their development, so it is crucial that they are able to identify organizations that are best-suited to their developmental needs. If organizations are all providing similar services, there will be unmet needs during key stages of startup development. Additionally, operational overlap also means that entrepreneur-support organizations will be competing for funding from similar sources.
Using Startup Commons’ Ecosystem Mapping Tool, ecosystem developers can solve the problems of operational overlap and startups identifying the proper support organizations. Rather than simply listing support organizations, our mapping tool illustrates the role each organization plays in relation to startups’ development phases.
2. Opaque Impact Metrics
When organizations fail to adopt and share common impact metrics, operations become less transparent, funding becomes a guessing game, and all accountability is lost. Similar to how customer acquisition rates and costs quantify startup success, impact metrics should be used to quantify the success of support-organization operations and government programs. Before anything can be improved, it first needs to be measured.
Startup Commons’ KPI Data Dashboard makes data collection and benchmarking easy. With our comprehensive tool, ecosystem developers and policy makers can make data-driven decisions to implement ecosystem-growth strategies.
3. Segregated Vertical
Events, support organizations, and startup communities often focus on specific verticals, such as biotech or video games. This leads to echo chambers and closed sub-communities within larger startup ecosystems. Similar to academia, these sector-specific silos create narrow-minded thinking and reduce cross-sector collaboration, which is essential for tackling difficult problems.
For example, what does a fintech company do if they are trying to encourage millennials to provide microloans to smallholder farmers? Although they may be able to build a transaction platform on their own, it may be wise for them to partner with agtech companies to source potential loan candidates, along with video game developers to produce interactive educational content.
Startup Commons breaks down silos associated with specific verticals using the Ecosystem Portal. This one-stop-shop showcases events, people, startups, and service providers in your ecosystem.
Now that you understand how silos can stagnate startup ecosystems, we hope you take time to investigate Startup Commons’ digital solutions. If you want to learn more, feel free to contact us!
Startup Commons Workshop, one day before Slush 2017: Breaking and Connecting Startup Ecosystem Silos
Working with advanced cities in the context of startup ecosystem development you easily find out that the most common challenge for them is breaking and connecting startup ecosystem silos, which is avoiding, from economic development perspective, collecting data variety coming from diverse data types, sources and formats.
In practice this means that data in a silo is not just isolated from broader processes, services and human team, it is also isolated from broader decision-making so therefore there are city benefits that data silos are not currently leveraging, holding back the pace of city startup ecosystem development.
Startup Commons is organising again our Startup Ecosystem Development Workshop taking place on November, 29 during SLUSH 2017 event in Helsinki, covering not only implementing end-to-end digital solutions to knock down ecosystem silos but also planning strategy and building local digital team so that economic development and digital development functions are understood and operated closely together at all levels, from finance to strategy to operations. The workshop is targeted to key stakeholders responsible for city, regional or national economic development
Our workshop program will cover this time the following topics:
To see the full program and to register please go to the event page.
Additionally, you will have opportunity to connect with your global peers to share best practises and build cross border relationship.
Startup Commons has assisted national and local governments at various Ecosystem Maturity levels and population sizes in US., EU and Asia on policy-making and developing solutions, services and instruments on how to nurture and grow a thriving startup culture and how to develop startup ecosystems in a globally connected world.
Early-bird tickets available until next November, 11th. But hurry up, there are only five tickets left!
NOTE: Exact venue location of the workshop in Helsinki will be confirmed closer to event time and details. Details are updated on the event site and all ticket holders will be notified by email, once the location is defined.
In recent years, the Government of Malaysia has been taking proactive steps to build a strong infrastructure for the Malaysian entrepreneurship scene. The development of a strong and sustainable startup ecosystem is considered to be a key economic driver for the nation to remain competitive in the global landscape.
MaGIC (Malaysian Global Innovation and Creativity Centre) was launched on the 27th of April 2014 by President Barack Obama and Prime Minister YAB Dato’ Sri Mohd Najib Tun Abdul Razak. Since the birth of MaGIC, there has been a significant number of entrepreneurs benefiting from the programs and initiatives offered by the Centre.
Startup Commons was invited to host a workshop at MaGIC on building digitally connected and data-driven startup ecosystem. The workshop supported the mission to catalyze the entrepreneurial ecosystem in Malaysia by introducing key stakeholders of ecosystem development to the framework targeting various activities and measuring the impact of these activities, and also providing better understanding of the relations between different areas.
"The workshop participants found useful insights on the architecture of startup ecosystem around the world, that will be useful when building similar ecosystem for Malaysia. On the other note, participants learned on designing program and platform that is data and KPI driven, allowing us to achieve result with higher effectiveness." MaGIC
The workshop generated great interest from the participants. We at Startup Commons hope that tools provided and skills learnt at the event will contribute to strengthening the entrepreneurship community.
With a view to build a sustainable long-term partnership, Startup Commons top-level people met with several organisations in Malaysia to get a better understanding of local startup ecosystem, its challenges and opportunities. These are major stakeholders in building robust startup ecosystem:
Malaysia is definitely placing great importance on the development of its digital economy as it will be a key pillar of its current and future economic growth and MDEC, has taken the mandate to look at the Digital Economy of Malaysia in a more holistic manner, involving also other agencies that are playing a relevant role.
Many of these agencies have the mandate to become more self sustainable, having already initiated a transition to reduce public funding dependency towards self sustaining agency operations. This direction requires “business-minded” people leading and operating these agencies and therefore, even more special focus on measurement-driven, efficiency and results as the only way to improve.
In the context of startup ecosystem, different agencies agree on the need to bring more networking, collaboration and connectivity amongst them and while offline activities already "get it", - digital is no different and it should reflect that: interactions, service processes, service development, ecosystem management, etc. Therefore, there’s initial common vision and good starting point to explore a digital approach aimed to bring more digital connectivity to all parties involved so that information can flow horizontally to reach other organisations, as well as measurability and scalability to make life easier to all actors for best navigation within the startup ecosystem.
Startup Commons team has been invited to build a piloting project proposal, with main objective to initiate data and KPI’s -driven approach by data collection and metrics implementation in order to become more efficient in end-to-end perspective (user, operative and decision making level). The piloting project itself will be a big opportunity for Malaysian agencies to understand this digital startup ecosystem infrastructure that will bring more synergies to boost productivity, competitiveness, and resilience.
A startup ecosystem is an immense source of data: just think for a while all type of possible interactions amongst the different players. Every entrepreneur, team member, mentor, investor, service provider, community, startup event, pitching competition, incubator, accelerator, platform, even our favourite place to grab a coffee with our team generates impactful data: numbers, words, tags, audio, videos, photos, geocodes, etc. Everything in real time.
Most advanced startup ecosystems in the world with their governments at the forefront have begun to become aware of such vast of data as a high value asset for overall goals of efficient government, public safety, but also to change how government operates for the benefit of all and in the context of startup ecosystems, how it can be used to generate more effective policies to serve startups in the most effective ways possible to facilitate innovative companies development, bring more economic development and make cities and countries more prosperous. This is also something that even few early stage startup ecosystems like Ho Chi Minh City, in Vietnam, are seriously planning as they have understood how it will help a city or country to “skip a generation” of trying to only build or grow traditional “offline” models to support entrepreneurs, innovation or startups and that by moving towards the digital side, they will accelerate the pace of growth.
This is a journey with no turning back and an ongoing challenge, which begins by:
Certainly, many cities everywhere see the potential of data and analytics to develop their startup ecosystems, like for example Malaysia is doing by putting in place Adax, an initiative by MDEC to enable businesses, governments, academia and professionals to rapidly adopt Data Analytics as a tool to empower decision making and innovation. But at the same time there is a natural fear to initiate this journey to firstly collect data and then turn data into knowledge to later put knowledge to work for the sake of the startup ecosystem growth. That’s the goal: make your startup ecosystem more intelligent.
Implementation requires to work at multiple levels, from grassroot to decision making level but as it happens in most of data-driven projects, one key component of its success depends on solid infrastructures and when it comes to data-driven startup ecosystems, it is mandatory to have an infrastructure (both offline and online) that reflects a deeper understanding as well as holistic view of startup ecosystem development. Startup ecosystems are about networking, collaboration and connectivity, and while offline infrastructures get it, - digital is no different and should reflect that: interactions, service processes, service development, ecosystem management, etc.
To gain that holistic view, the startup ecosystem should gather data not only from the public supporting services and programs but also from private side so therefore private sector data is key to changing policy to support entrepreneurs, startups and innovation and therefore building public-private partnerships (PPP) is another key component in order to create more comfortable environments where public and private sector can operate together at different levels, causing more volume and variety of data that will enrich startup ecosystem analytics. Additionally, this PPP models should be built so that cities and countries own the data and not let them to hands of foreign government or some private businesses. At stake is nothing less than the future economic of your towns, cities and countries and the digital economic development is so important that it must be under own control.
This huge amount of data by itself is useless and the digital startup ecosystem infrastructure must process and store data in appropriate form (which data must be collected from the interactions among the different user roles of the startup ecosystem, frequency of data collection, accuracy of data, and are current databases suitable for collecting real-time data) to turn data into actionable information and, ultimately, knowledge, and then the startup ecosystem will be better positioned to respond and be more efficient in all levels.
Data will only deliver value to the whole startup ecosystem, if it is translated into specific improvements tracked by traditional KPIs such as company birth rates, company death rates, rate of high growth firms (based on employment growth), rate of high growth firms (based on turnover growth), survival rates at 3 and 5 years, net job creation, job quality, volume of deal flows, and valuation of startups, which are very important to answer questions like what innovation is happening in sector x, y, z, at what phases the startups are, what is the ROI of innovation support services, where to invest to further improve and accelerate, what startups to promote, showcase to global investors, etc. The real challenge comes, when you wonder, what are the operative sublevel indicators that contribute the most to these traditional KPIs and this is where the digitalisation process fits for producing, collecting and analysing real primary data to match those supporting organisations, services and activities that produce more funding attracted, big investments, more exits, more disruption and eventually more economic development.
The good news are that no matter where you are on your startup ecosystem maturity level, the first step is to evaluate your status and to begin to plan for the future and there’s no doubt that future will be digital.
Startup Commons announces its digital startup ecosystem infrastructure goes mobile with fully responsive user interface
Mobile World Congress, Barcelona – February 28 – Startup Commons has released the latest versions of its Digital Ecosystem Infrastructure with full support for mobile front-end services.
Digital Ecosystem Infrastructure (DEI), the core element of the overall Startup Commons Digital Solution, is an ecosystem management software built specifically for startup ecosystems to automate back office functions connected to user facing front office functions - a suite of integrated modules, applications and views that national, regional and local governments and economic development organization use to collect, store, manage, visualize and analyse data from their startup and entrepreneurship ecosystem activities.
“We see increasing demand for our digital startup infrastructure platform, when most of countries, cities and regions plan, how they can better support and develop their growth company and SME ecosystem and also better measure the results and use of money,” commented Óscar Ramírez, Startup Commons CEO today in Barcelona. He continues “Today we announced a support to build mobile front-end services, for example, manage and participate in startup events locally, share and find information and use the local services for entrepreneurs and startups. Mobile services are an important part of startup infrastructure services especially in our fast growing Asian market.”
Ecosystem Explore is module of the DEI to provide "one-stop-shop", of real-time information about ecosystem startups, events, services and support organizations directly from DEI database. To visualize the pulse of startup ecosystem functions by startup development phase, location, type and time to help manage connections between all stakeholders. Now this module can be used also in mobile.
More information on Startup Commons Digital Ecosystem Infrastructure on
About Startup Commons
The Startup Commons Digital solution is designed and built from the ground up to serve startup ecosystems - to automate and connect back office functions like community management, CRM, reporting and analytics to user facing front office functions like events, forums, social networks and communications. Startup Commons customers are, for example, national and regional economic development organizations, universities, corporates and entrepreneurship programs in Europe, Asia and North America. Startup Commons is headquartered in Helsinki, with offices in the US and Asia.
CEO Óscar Ramírez
+34 656 180 880
After hosting the Startup Ecosystem Development workshop and receiving positive feedback from our guests, we would like to share with our readers the knowledge and success stories we gathered from presenters and visitors.
The workshop was a one-day event during SLUSH festival in Helsinki, it attracted interest on global scale: the guests came from 9 countries in Europe, South America and Asia and various business areas, including policy makers, platforms and API developers, professional services, multinational corporation and startup communities (incubators, accelerators and hackathons).
The idea behind hosting such workshop was to introduce key stakeholders to ecosystem development framework that helps in targeting various activities and measuring the impact of these activities, and also assist in better understanding the relations between different areas.
Despite having limited time to cover such a vast concept, the workshop speakers from Startup Commons and Resolute HQ introduced guests to Ecosystem Development process from the ground up:
To showcase practical applications of the theory, we had several inspiring presentations from the companies already working (and succeeding) in this space:
Additionally, big number of practical materials and tools were provided during and after the workshop.
We would also like to say thanks to our esteemed partners – EY and University of Helsinki / Think Company for their excellent assistance during the workshop, as well as for City of Helsinki, Head of Unit, Tommo Koivusalo for the kind words and encouragement for shared efforts that systematic development of vibrant Startup Ecosystems requires.
The video streaming was not provided at the event, but we highly recommend to watch this video of Valto Loikkanen presenting at DOKU: TECH 2016 on “Raising ecosystems from the ground up”.
From talking to our guests it became obvious that ecosystems and their development have become an urgent topic in many parts of the world. That is way we are taking on an ambitious goal for 2017 to host 12 workshops around the world. We welcome all stakeholders who are wishing to collaborate on various areas for such event (place, coffee, food, communication, etc.). The concept and main themes for the workshop can be found here. Please get in touch to discuss opportunities for partnership!
And for the readers, keenly interested in the subject, we provide detailed excerpts from the workshop on specifics of ecosystem development.
2017 promises new innovations and closer collaborations among various agents to bring these innovations to life, so don’t hesitate to contact us to discuss how you can contribute to growing successful startup ecosystem in your region!
Billion dollar startups are emerging faster and faster. Given innovative startups’ critical role in the information economy, the importance of healthy startup ecosystems only stands to increase in the future, being this the reason why local, regional and national governments across the world are establishing programs to support tech entrepreneurs in an effort to stimulate economic growth and job creation.
One quite common starting point to connect, support and grow a startup ecosystem is by mapping it in order to know what is going on in the startup ecosystem, who are doing what and why, where and when are things happening or how different parties can "get in on it". Some relevant reference cases related to that are Berlin Startup Map, Mapped in Israel or Digital NYC to name a few.
However, usually in this type of cases there’s an important speed gap between the showcased information and real startup ecosystem activity that generally becomes into outdated and inaccurate information for all user roles within the startup ecosystem, generating a lot of frustration.
The main reasons behind that result are:
Therefore, the level of maintaining the basic information and improving quality and completeness of the information becomes "continuous effort to sustain", so more systematic and sustainable solution is eventually needed.
Countries like Vietnam are implementing digital backbone to digitally connect and visualize Vietnam startup ecosystem functions to stimulate further innovation in its emerging tech scene with the objective to collect, maintain, distribute, showcase and use vietnamese startup ecosystem information on real-time to benefit all parties involved.
This Digital Ecosystem Infrastructure solution has the architecture to connect these manual mapping efforts with systematic approach to get primary measurable data from the startup ecosystem and one key component connected to this digital infrastructure via API's is the ecosystem view module that can showcase all the information and resources of cities' digital economy in one place, visualising the pulse of startup ecosystem functions by startup development phase, location, industry, time, etc. helping people and startups find the right services and connections at the right time and also helping public & private sector decision makers and service providers target their services to the specific needs of the startups and other ecosystem actors.
This ecosystem view provides access to tools, services and support needed to turn ideas into real businesses, including:
Additionally, from local/national economic development or innovation agencies as well as supporting organizations perspective, the ecosystem view module turns the collected information into actionable knowledge to improve and redesign existing programs, services, funding schemes, etc or to create new ones as fast as possible, getting for example:
Overall, this digital ecosystem view simplifies things and makes the startup ecosystem more transparent and all parties can get more benefits from them. Additionally, by just adding startup development phases layer, it provides the right services at the right time. This alone is valuable for the future. The digital ecosystem approach is all about better access, transparency and efficiency. This, along with the statistical data that this it generates, leads to accelerated development of all areas it spreads to and effectively connects a city or country with the new digital finance world.
In addition to the digital solution and architecture, another key component is the shared source licensing model, mainly developed for public sector constraints and known challenges, allowing them to get access to source code to give them full freedom to develop any adjustments, functionalities, new features etc. as they like either with existing or external development resources. Parallely, as we are working globally with other cities and countries and building everything under the same technological infrastructure,whenever a city develops a new functionality, it becomes available at no cost to the rest of cities, which drives down everyones new development associated costs. Also, there is no vendor lock, being able to keep the full software and freely continue to develop it further as independent software.
If you want to explore how this digital solution fits on top of the work you are doing now to support startups and innovation to go further with what you’ve got, then contact us to organise a workshop to take your startup ecosystem to the next level.
Supporting governments startup ecosystem development, from consulting to digital infrastructure for connecting, measuring and international benchmarking.
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