Silicon Valley · Entrepreneur

Do I need to live in one of the major startup ecosystems to build a billion dollar business?

Olesya Mayorova QA Lead - Towards Mars!

November 18th, 2016

I believe that the resident country has everything to do with the limits to your business success. Of course, there are exceptions to the rule but there are very few of them.

Let’s say that the same entrepreneur starts a company in one of the developing countries and at the same time starts the same company in Silicon valley. If the company in the developing country is earning millions, there are good chances that the company in the Silicon Valley will be earning billions. Some of the key factors would be, big entrepreneur community, big market, stable country… Do you think that it is necessary to live in some of the major startup ecosystems in order to build a billion dollar business?

Jim Jurewicz Director - The Brainstorm Company & President GRID TV - The Americas

November 18th, 2016

Yes, it is called the planet. Olesya, seriously the world is the startup marketplace. If you need outreach help please connect with me on LinkedIn.

Peace,
Jim

Scott Poniewaz Marketing Professional & Entrepreneur

November 18th, 2016

No you don't. Take a look at the story of Mailchimp out of Atlanta.

Dane Madsen Organizational and Operational Strategy Consultant

November 18th, 2016

It is more important that you have a billion dollar idea - however living in one of the major areas will help you build it, but it also competes with you for talent and skills. You might actually get better visibility in a non-major community than with major communities. Dane Madsen Dane@DaneMadsen.com 206.900.5852 Mobile Sent from my mobile device. Forgive typographical and grammatical errors.

Daniele Cesano Sustainability Entrepreneur

November 21st, 2016

I think it depends a lot on the scope and public of your idea. If your idea focuses mostly on improving the life of family farmers in developing country, then you may find investors everywhere that have an appetite for these types of projects but you'd like to have your HQ in a developing country where most of your market is (Africa, LatAm, etc). If your start-up focuses on an innovative solar-panel film then you may want to find a tech hub that can host your idea. Anyway, I also think that exploring opportunities in a place that is an investment hub is always a good strategy. It doesn't mean you'll need to live there, but it would be good to pitch your idea to a few people maybe staying over a few weeks a year and build relations there, or get advise from someone who has a more or less constant presence in these hubs.

Bennet Bayer Global CMO, Strategy & Tech Exec Ronin ♦ Mobile, Cloud, ICT/IDC, The IoE & Big Data Business

November 21st, 2016

Not at all!  I have seen ideas come from anywhere - look at "7 Villages" for example.  Time I have spent in Bangladesh, Tanzania, Namibia...lots a clever ideas all over the world.  Good ideas grow no matter where they come from.  Now to accelerate them is where it helps to have exposure into larger investment markets - which could Hong Kong, Singapore, London, Silicone Valley or any place where ideas meet capital!