April 7, 2016

#GiveFirst + Authentic = #StartupCincy

Give a little bit
Give a little bit of your love to me
I’ll give a little bit
I’ll give a little bit of my love to you
There’s so much that we need to share
So send a smile, and show you care

“Give A Little Bit” Supertramp

What is the best way to create, build and sustain a startup community? Are there models we could adopt and expand? This is a discussion I’m always interested in furthering. The just released Growing a Global Ecosystem by Techstars gives us a close look at how the best in the world are aligning and growing participants in communities around the globe.

You can’t have a thoughtful discussion about growing startup ecosystems without referencing Brad Feld’s “Startup Communities.” Feld’s deeply held belief that you can create a vibrant startup community in any city in the world is an inspiring challenge. Moreover, his efforts in Boulder, CO prove that with the right approach, participants and dedication, you don’t have to be Silicon Valley to create a vibrant startup ecosystem. But Feld isn’t the only one pioneering startup communities in unexpected places. Mark Suster and his colleagues at Upfront Ventures are doing incredible things in Southern California. And if you’re still skeptical, look no further than Israel – a small nation in constant turmoil with limited resources is producing some of the best startup companies in the world. Israel’s story offers some powerful lessons on 21st century economics and diversity: Startup Nation is a highly recommended read.

Sarah Anderson and David Cohen
David Cohen of Techstars with Sarah Anderson of Cintrifuse

Inspired by the efforts of these communities, we’ve been on an incredible journey here in #startupcincy. As with most things, the credit for successfully establishing a tech startup beachhead belongs to many in the community’s history: entrepreneurs, investors, mentors, etc. – lots of “leaders and feeders.” I’ve been heavily involved in growing #startupcincy the last 3 years as the director of Cintrifuse’s Fund of Funds. Many leaders in other communities have asked me, “how were you able to get your city’s major corporations – Procter & Gamble, Kroger, Western & Southern, Cincinnati Children’s Hospital, and the University of Cincinnati – to not only invest, but become active participants in local startups?” I’ll let you in on a little secret: it was easy because…

 It was their idea. That’s the truth. Thanks to the (dare I say) “entrepreneurial” vision of 30 CEOs, representing the largest corporations in Cincinnati, Cintrifuse was created to cultivate a more robust environment for startups.

The leadership, investment, and participation of major corporations breaks the conventional wisdom of startup communities, and serves as a distinguishing characteristic of #startupcincy. This breakthrough reflects a foundational element of Cincinnati: authenticity. The word “authentic” derives from the Greek autos and hentes, meaning “self” and “achieving.” If a community of authentic participants working to achieve something together doesn’t make a great startup community, I don’t know what does.

The motivation that drives our community is matched by  a key principle in the success of Techstars: #GiveFirst. Many have written about it, and I realized it firsthand on a trip to Boulder last week. To build and sustain a vibrant startup community, the #GiveFirst ethos is a necessary ingredient.

We’ve paired #GiveFirst with the authenticity unique to Cincinnati, and I’d like to think that is the foundation of #startupcincy. A once seemingly small hashtag has turned into a movement here, which many diverse participants in our community connect and identify with. It is a movement without boundaries: we have venture partners around the world, large corporations locally and abroad, major universities and world class hospital systems, and of course, talented entrepreneurs, that all consider themselves members of #startupcincy.

The best part? We’re just getting started. In future posts I’ll go into more detail about what we’ve learned, what we can do next, and how to scale #startupcincy even more. For now, I’ll keep doing everything I can to preserve authenticity and build the #GiveFirst ethos. As Nicole Glaros, Chief Product Officer at TechStars, says: “Our strategy is that when we #GiveFirst to founders, every community benefits.”

Comment below to share a story of authenticity or #GiveFirst in #startupcincy, or to let me know how I can help you.