September 12, 2014
Cities all over the world have taken a page from Brad Feld’s book Startup Communities: Building an Entrepreneurial Ecosystem in Your City on creating sustainable ecosystems. From Santiago, Chile to Tel Aviv, Israel, we’ve seen more investments being allocated to creating unique tech hubs. During our upcoming Celebrate Conference, a panel will focus on a discussion about building a sustainable ecosystem for your startup, including figuring out how to make collisionable cities for startups.
Tech Cocktail will bring entrepreneurs from all over the world to discuss how their cities are becoming sustainable tech hubs. Entrepreneurs like Tony Hsieh and Dan Gilbert have played an important role in leading startup communities in cities like Las Vegas and Detroit. Gilbert, the chairman of Rock Ventures and Quicken Loans, purchased Detroit’s Madison Theater when it was crumbling away and reopened as a co-working space for startups. It was the beginning of a change in Detroit.
Hsieh lead the turnaround of downtown Las Vegas when he moved into the vacated City Hall and announced plans to relocate Zappos’ headquarters with its more than 1,000 employees. He created the Downtown Project, Hsieh’s $350 million campaign to transform the area around his new corporate home.
Sometimes the initiative is not led by entrepreneurs, like in the case of Miami and Santiago in Chile, where investment comes from feeders such as The Knight Foundation and the Chilean government. In both cases, the investment has proven to be catalyst in creating a startup hub in both cities by attracting new entrepreneurs.
But how can cities measure whether they have been successful in creating a sustainable hub? According to Feld, this can take up to 20 years. But based on the success of cities like Las Vegas and Detroit, each city creates its own goals of success and sustainability. There isn’t a perfect formula or model that fits all. In the case of Las Vegas, these investments have brought more commerce, more foot traffic, more construction and more renovation to downtown. In Miami, this funding has provided more co-working spaces and investment.
The idea is to start a conversation and create something unique to your city. Who needs Silicon Valley when you can create more in your own city? Won’t you join us to discuss what you’re doing in your local community, and collect ideas from other like-minded leaders in October at Tech Cocktail’s Celebrate Conference?
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