Experts could debate all day long the ingredients for a killer entrepreneurial climate and the virtues of one city over another. But if I’ve learned one thing over the years, it’s that every region in this country is different. While each might aspire to be the next Austin or Menlo Park, you can’t start with what you don’t have.
Instead, you must start with what you do have: the assets and strengths in your own backyard.
The Backyard Effect yields the secret sauce
It may take some time to uncover, but every region has a secret sauce. I call it the Backyard Effect. It’s when a region embraces and connects its unique assets to foster startup success.
The Midwest is a prime example. It’s not just a nice place to raise a family. Sure, the cost of living rocks and houses with walk-in closets are affordable. But there’s much more than a great quality of life going on here.
Besides all the right ingredients — technology, talent, and early-stage capital — the Midwest has a truly connected community. That’s our secret sauce. Our Backyard Effect.
And these aren’t just connections on paper. They’re the kind of connections that are drawing entrepreneurs and investors to states like Ohio, Pennsylvania, Indiana, Illinois, and others to create and invest in new companies.
The landscape is changing in the Midwest
The share of U.S. cities receiving venture capital rose from 2009 to 2014. As Harvard Business Review reports, venture capital first fundings are spreading throughout the country. . . . . . .>>> READ MORE at: