September 24, 2014
Bambi Francisco, Founder and CEO of Vator.tv, spoke during Tech Cocktail Sessions in Las Vegas, where she shared layers for a foundation in building a regional tech hub based on her experience in Oakland. There needs to be eight building blocks in place before a city can become a tech hub:
1. Favorable infrastructure: Housing and commercial units needs to be available to attract business.
2. Startup infrastructure: A network of VCs to attract startups and investment into the region, as well as co-working spaces and events.
3. Targeted startup district: Francisco says, “It’s very difficult to create a tech ecosystem. You can’t diffuse the brain power, you have to bring it together so you can work together.”
4. Anchor tenant and venue: Find a space to create a district and build momentum.
5. Neighborhood development: you need to attract business and make the place livable, that’s how you attract talent.
6. Economic incentives: Creating tax breaks to businesses that create jobs.
7. Startup incubators: “You need to create this ambient knowledge where you share what it means to take risks and to create a startup,” explains Francisco. This includes partnerships with the government.
8. Series A investors: These are the people who write the checks between 3M-5M that allow these startups to flourish.
Francisco also emphasized on the importance of preserving the regional culture and make sure it is an inclusive.
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