(Startup Genome, 2017)
“Technology is generating wealth and innovation at an exponential pace but only a handful of places in the world are capturing most of that value creation… Without immediate and aggressive actions to develop stronger ecosystems, this divergence will continue and more places will miss out on technological growth and dynamism”.Clike here to read
The One Entrepreneurial Ecosystem – this is the mission and goal of the Global Entrepreneurship Network that bases its work on the idea that entrepreneurs no longer need to be restricted to geographical sectors. The development of ideas comes from the surrounding ecosystem and in order to implement them successfully in the entrepreneurial world, this needs to be accessible to everyone and this will henceforth create more success. This brings up the idea of the globalization of startup hubs from Silicon Valley, Berlin or Bangalore. All of these hubs are in a revolution and are changing the world together. Two important steps need to happen; the first being the assessment of the surrounding ecosystem and what one might due to improve their ecosystem and second, the comparisons of ecosystems and how they differ from each other. This can help determine the input and output of the certain sector and see exactly where the improving needs to be. As JF Gautheir states, “introductions, favors, connections – people who are busy working on their own ideas and organizations frequently take the time to make these because they know it will come back around. This mentality of trust and open support helps startup ecosystems thrive”. The startup community is growing and people are encouraged to take action to invest and seek guidance in these new emerging ecosystems. Technology is generating immense wealth and only a few ecosystems of the world are capturing the value of creation. We need to act, as many ecosystems will miss out on the growth and innovation this sector has to offer.