Why Do Entrepreneur Awards Matter So Much in Local Ecosystems?

January 17, 2017

7:00 pm

The amount of awards given out to companies both big and small is truly staggering. And while you might think a congratulatory mindset in local ecosystems can create an overly supportive community, the inclination to celebrate smalls wins is what keeps startups going long enough to realize their true potential. And if that isn’t what starting a business is all about, we don’t know what is.

In fact, acknowledging and celebrating the measurable wins is part of the road map to success because it builds community. With a supportive ecosystem, startups can revel in the communal approach to running a business.

“When choosing milestones to celebrate with your team, start by examining your core values. Then, identify concrete, measurable things you do as a company to support those values. For instance, if one of your core values is exceptional customer service, a good measurable milestone might be getting 20 five-star customer reviews on Yelp. Every time your team hits a milestone, go out for pizza, a movie or a happy hour.”

While you might think celebrating small milestones is only good for businesses, you couldn’t be more wrong. A supportive ecoystem bodes well for everyone involved, even the government. As the Harvard Business Review touts in a report on building successful entrepreneurial ecosystems, celebrations matter.

“Governments should be bold about celebrating thriving entrepreneurial ventures. Media events, highly publicized awards, and touts in government literature, speeches, and interviews all have an impact.”

Founders typically spend their time plotting ways to change the world and are focused on their daily grind. But awards are an easy way to stop and showcase their efforts, giving employees and supporters a chance to highlight the little wins, which provides a path to inspire future founders.

Celebrations offer ecosystems an opportunity to engage all of the players that make a difference. Ecosystems are more than the top startups; they are the organizations that provide advice, the investors that provide guidance, and the peers that provide support. That is why awards matter.

Introducing the CT Entrepreneur Awards

As an emerging ecosystem, local Connecticut leaders are heeding the conventional advice and engaging the community to create the inaugural CT Entrepreneur Awards.

The CT Entrepreneur Awards will celebrate the entrepreneurs and support system that make Connecticut work. The inaugural awards will recognize a variety of individuals and organizations that connect, collaborate, and communicate amongst each other to help entrepreneurs succeed. Want to learn more? Check out the answers to some frequently asked questions about the CT Entrepreneur Awards below:

What are the CT Entrepreneur Awards?

The CT Entrepreneur Awards recognize the individuals and organizations that are instrumental in running the state’s ecosystem. From community builders and events to government officials and advisors that continuously support entrepreneurs, the awards celebrate local leaders that make a difference.

How do the CT Entrepreneur Awards work?

The CT Entrepreneur Awards are community driven. We have established nine main categories to collect a broad array of leaders that create the foundation for entrepreneurs to succeed. In phase 1, we ask you to nominate as many leaders as possible that deserve recognition for their work in the community.

What’s the next step in the process?

During January, we are collecting nominations. From that broad list, we will narrow the field and hold final voting in February. The awards ceremony will be held in late March or early April and act as the event to bring together all of the people dedicated to supporting entrepreneurs throughout the state.

Head on over to the website now and nominate your peers, advisors and organizations that have helped you throughout the year!

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Joel Whipple works to help businesses grow. Joel balances an understanding of entrepreneurship and digital media to help companies identify, develop and leverage an engaged audience.

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