There are certain regions around the world where entrepreneurs dream of launching their startups. Silicon Valley, Bangalore, Boston, London and a few other regions enjoy this reputation. What is it that makes these regions really attractive for entrepreneurs and investors? Is it the availability of finance, the availability of talent, the right incentives from the government or the X factor. To be honest it is a combination of all these. At the same time, even though some regions that have a great combination of finance and talent, they can never become the right region for entrepreneurship.
Regions like Silicon Valley and Bangalore were actually small and financially insignificant areas before they developed into the power houses of innovation that they are today. Somehow, one success followed the other and before long these regions developed the reputation of “the place to be” for entrepreneurs. The early successes in these regions led to the formation of a business cluster that attracted both investments and talent. One experiment after the other led to development of clear structures and services that foster and support startups. Before long, these places started attracting talent and investment from across the globe.
Sustainable innovation and entrepreneurial activity needs creativity. It is a known fact that diversity fuels innovation. Nothing like a fresh new perspective for the next best idea! For a geographic location to sustain innovation, it needs to be open to diversity of cultures. Most innovative regions have a real cosmopolitan feel to them.
All the above factors attract investors to these regions and Venture Capital firms start pitching their tents as well. Due to this fact, the chances of a startup getting investments in these regions become higher. Over time, a lot of support services start mushrooming like incubation units for startups, part time administrative and legal services and flexible consultancies for the startups.
Want your startup to have better chances: choose the right region!
Rachna Dayal : Investment 