2100 Ventures’ Post

“Ecosystems are tight, dense clusters built around talent concentrations. If you think your regional innovation ecosystem is 4-5 states, I would really rethink that.” Some fair arguments below on the importance of “place” in ecosystem building.

Innovation does not happen in a vacuum. This is a great example of the importance of the “local buzz” in proper clusters which is also effectively countering the idea of the “death of distance”. Enrico Moretti had already highlighted the matter more than 10 years ago with his quote that “a handful of cities with the “right” industries and a solid base of human capital keep attracting good employers and offering high wages, while those at the other extreme, cities with the “wrong” industries and a limited human capital base, are stuck with dead-end jobs and low average wages”. 

As somebody who is deep in the weeds on the importance of "place" when building startup ecosystems, I found this recent blog post from Y Combinator on selecting their new HQ's location fascinating. Some key takeaways: 1️⃣ People forget that YC began in Boston and then relocated to the bay area 2️⃣ Many of their early decisions about where to locate were driven by where they could get free space. The story of MassChallenge and the Boston Seaport is a similar story. 3️⃣ A recognition of how the bay area startup community is changing and shifting. Their bet is that founders want to be back in the city, not in the suburbs. 4️⃣ Proximity to other companies is critical. Originally companies wanted to be proximate to Google and now the blog post closes by highlighting their proximity to OpenAI. 5️⃣ Most importantly to my current work at National Science Foundation (NSF) and U.S. Department of Commerce, ecosystems are tightly-knit, dense clusters built on top of talent concentrations. If you think your regional innovation ecosystem is 4-5 states, I would really rethink that. https://lnkd.in/ecp9cXYq

Y Combinator was a force to be reckoned with for almost the entirety of my time at Fast Company, and while it was always present -- generating characters, innovative companies, etc -- FC hadn't dug into how it operates and the power of its formidable network since 2015. Until today. Ainsley Harris did a masterful job trying to understand the leading tech accelerator and how it really has become the decentralized corporate giant that had been its founder's ambition. [Hat tip as well to Anne Latini and Mike Schnaidt for the brilliant art direction.] Y Combinator has turned "building" into a job and becoming a company founder into a career. But what is that actually like? Is the YC network only getting stronger as it grows? Are there risks to its dominance in Silicon Valley (and increasingly, the world)? For the tens of thousands of founders who apply to YC every six months for its vaunted batches, you have to read this story before you do. https://lnkd.in/e9HxHvxD

🌟 Exciting News Alert! 🚀 TechCrunch Disrupt 2024 is heading back to San Francisco this October 28–30, and the anticipation is building up already! 🔮 Prediction: With the promise of bringing innovation at every stage of your startup journey, this year's Disrupt is bound to be an incredible platform for groundbreaking ideas and game-changing collaborations. 🌟 Major Key: The participation of world-class partners means attendees will have the rare chance to tap into the expertise and resources of tech's leading companies, paving the way for endless possibilities and growth opportunities. 🎉 Can’t Miss Opportunity: Mark your calendars and get ready to immerse yourself in a whirlwind of inspiration, networking, and knowledge-sharing that could potentially transform your startup's trajectory. ✨ As a bustling hub for tech enthusiasts and visionaries, TechCrunch Disrupt 2024 is set to ignite creativity, foster new connections, and propel the next generation of disruptive innovations. Let's gear up for an unforgettable experience that will shape the future of the tech industry! 🚀💡

Understand problems before creating solutions It seems obvious but most hopeful founders' instinct is the opposite… Y Combinator once tried an experiment They funded a bunch of promising founding teams with no ideas In the hopes they would land on a promising idea after they were funded Long story short... → All of them failed This proves we shouldn’t force ourselves to come up with startup ideas If we do then we may create a square-shaped idea Trying to solve our clients circle shaped problem Instead, I personally try to and would recommend to: → Be curious about a lot of different things → Meet lots of people and read lots of books → Most importantly practice noticing problems The best businesses come from the identification of a problem

Applying to Y Combinator—for the 6th time. This isn’t about capital. It’s about community. Most founders look to Y Combinator for funding. But for me, it’s always been about learning, about finding a group that would challenge me, push me, and even question my sanity—just as much as I question my own. When I started, I had nothing but grit, youthful ignorance, and a drive to learn fast. The school of hard knocks was inevitable, but I wondered—was there a way to fast-track those lessons? If I couldn’t have a peer group of founders just yet, I’d create my own. Each month, I’d meet with my customers, updating them on progress and learning from the insights they shared. They were my “peer group,” and through these interactions, I realized: different business scales, same fundamental challenges. Some say I’m crazy, aiming too high, too fast. But if you’re going to aim, why not for the moon? Every YC application is another checkpoint, reminding me how far I’ve come. In the last month, Chase Cohn and I clocked over 80 hours a week, sacrificing sleep to bring our vision to life. Some days felt like slow progress, but when you step back, the strides are unmistakable. We’re not here for comfort. Comfort kills creativity. Whether we make it into YC or not, we’ll keep applying. For us, it’s about marking growth, reflecting on lessons, and keeping a reminder of why we started. And meeting YC founders along the way has shown me we’re not so different; we face the same hurdles, fight the same battles. #startup #founderlife

💡 Recently, I led research at UpYouth - Tech Startup Ecosystem on analyzing the batch data of Y Combinator in Southeast Asia from 2013 to 2023 (217 founders and 111 startups) The facts were interesting: 60% founders went to elite universities; 70% founders have prior work experience in product development or growth; only less than 30% were first-time founders. Highly recommend giving this a read (only 5 min) if you are aspiring to become a founder in SEA: https://lnkd.in/gqujXusZ Kudos to Gia Binh Do Nguyen Binh Nguyen Lucas Dinh Anh Dao Hoai-Thanh Hoang for making this happen

Getting very excited to fly across the country (commercial, this time) for the Startup Grind Global Conference! We’ll be immersed in innovation and can’t wait to share the lessons learned. TODAY is the last day that our final comp pass is valid — if you want to join us in Silicon Valley, let us know now! #StartupGrind #SGGlobal2024 #StartupGrindConference Startup Grind Lansing Startup Grind

San Francisco may be famous for its fog, but at TechCrunch Mads was in no haze at all. Let's check in on his key takeaways 👇 "What an exhilarating week in San Francisco! 🚀 Between TechCrunch Disrupt and engaging with the investor community and our portfolio companies, I’m energized by the future of technology. Here are some of my key reflections from the past week. San Francisco was buzzing with over 10,000 professionals at this year’s TechCrunch Disrupt, where discussions covered everything from climate impact to AI’s transformative potential. Other than climate taking the limelight, second thoughts on high valuations and the profit x purpose matrix of startups, AI has stuck with me as a key takeaway. As we navigate the AI hype, let’s remind ourselves to focus on solving real problems efficiently. As CVCs, let’s prioritize sustainable growth metrics over hype and commit to supporting founders who prioritize real solutions. Who are you excited about in the startup community?" #Maersk #Techcrunchdisrupt2024