Building a Startup Ecosystem
Thanks everyone who attended this AIPMM Meetup. Feel free to favorite this if you like it. Abstract In the last few years, various cities across the U.S. have built startup communities. These communities, known as startup ecosystems, are driving innovation through small business synergy. Studies show that a startup ecosystem can drive business growth and innovation through collaboration. Startup ecosystems help entrepreneurs connect with collaborators, investors, and other organizations to manage the balance between innovation, product development and customer development. This discussion will focus on how a startup ecosystem helps entrepreneurs launch new companies and accelerate business growth. About Hector Del Castillo: Hector Del Castillo has over 15 years of experience transforming products to wealth for technology-based companies. He helps strengthen product portfolios, guide high performing cross-functional teams, and create new revenue streams within product-driven organizations. As a consultant, trainer and coach, he helps executives, senior managers and entrepreneurs transform ideas into a great business. About AIPMM The Association of International Product Marketing and Management (AIPMM) is the authority for product management knowledge. It is where product professionals go for answers. It is the world’s largest professional organization of product managers, brand managers, product marketing managers and other individuals responsible for guiding their organizations and clients through a constantly changing business landscape. It is the only organization that represents those who manage the entire product life-cycle throughout any industry. Consultation Appointment Need help transforming your product idea into a great business? Set up a free initial 30-minute consultation appointment and let me know how I can help you. Learn more at http://bit.ly/1heVQiK. You can connect with me at http://linkd.in/hdelcastillo. I look forward to hearing from you. Regards, Hector Del Castillo Connect: http://linkd.in/hdelcastillo Follow: @hmdelcastillo
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Building a Startup Ecosystem
- 1. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Hector Del Castillo linkd.in/hdelcastillo This presentation may contain copyright material owned by other authors. I have made an attempt to make proper attributions. If you feel that I have failed to do so, I would greatly appreciate it if you contact me directly so I can attempt to correct the matter.
- 2. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Special Thanks
- 3. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Follow: @AIPMM @hmdelcastillo Use: #AIPMM #Ecosystem Tweet!
- 4. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo What you want out of this session • Expand my network • Ideas to help the startup community • Challenges and obstacles in the startup process and how best to deal with them Today’s Topic Benefits of building a startup ecosystem and its impact on your community
- 5. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo What We Will Discuss • Introduction • Benefits of building a startup ecosystem • Key elements of a startup ecosystem • Impact on local communities • Q & A
- 6. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Poll
- 7. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Benefits • Supports launch of new companies1 • Fosters business synergy2 • Enables business scalability3 • Creates jobs in your community4 • Boosts economic growth5
- 8. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Startup Ecosystem A community of entrepreneurs, inventors, makers, researchers, intrapreneurs and collaborators in a location (physical or virtual), interacting as a system to create new startups.
- 9. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Key Elements Startups Funding Organizations Support Organizations Service Providers Government Research Organizations Large Companies Source: Feld, Brad (2012-09-06). Startup Communities: Building an Entrepreneurial Ecosystem in Your City Wiley.
- 10. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Boulder Thesis Led by entrepreneurs Have a long-term commitment Inclusive of anyone who wants to participate Engage the entire entrepreneurial stack Source: Feld, Brad (2012-09-06). Startup Communities: Building an Entrepreneurial Ecosystem in Your City, Wiley.
- 11. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo
- 12. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo “A startup is an organization formed to search for a repeatable and scalable business model.” - Steve Blank
- 13. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Startup or Small Business? Poll Points Company < 3 years old Company requires investment to operate Have pivoted or planning a pivot Company is designed to quickly scale Total True = 1 False = 0
- 14. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo If Total = 4 you’re a startup Otherwise, you’re most likely a small business. Startup or Small Business? Points Company < 3 years old Company requires investment to operate Have pivoted or planning a pivot Company is designed to quickly scale Total True = 1 False = 0
- 15. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo
- 16. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Startup Success Inspire Goals Lead Teach Vision Mentor
- 17. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Startup Life Cycle Conceive Launch Grow Mature
- 18. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Source: Steve Blank, “Why the Lean Start-Up Changes Everything.” Harvard Business Review
- 19. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo
- 20. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Focus on Your Value Proposition Customers StartupCollaborators Unique Value Proposition Source: Alexander Chernev, Strategic Marketing Management, 2012, 6th Edition
- 21. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Key Takeaways • Supports new startups1 • Engages multiple stakeholders2 • Synergy requires collaboration3 • Must have long-term commitment4 • Includes coaches and mentors5 • Allows a business to quickly scale6 • Accelerates economic growth7
- 22. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Q & A Hector Del Castillo, CPM, CPMM Product Innovation Consultant linkd.in/hdelcastillo @hmdelcastillo hmdelcastillo@aipmm.com
- 23. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Need Assistance? Need help transforming your product idea into a great business? Set up a free initial 30-minute consultation appointment and let me know how I can help you. Learn more at: http://bit.ly/1heVQiK
- 24. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Upcoming Learning Opportunity Certified Innovation Leader (CIL®) Oct 30-31, 2014 - Bethesda, MD Course Preview Interested in attending this course at a convenient location near you? Contact us.
- 25. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Upcoming Courses Certified Product Manager® Sep 8-9, 2014 – Boston Metro Area Dec 8-9, 2014 – DC Metro Area Certified Product Marketing Manager® Sep 10-11, 2014 – Boston Metro Area Dec 10-11, 2014 – DC Metro Area Click on the dates above for more information. If you have a team of 10 or more that you want to certify, contact us.
- 26. © 2014 Hector Del Castillo, Creative Commons Attribution License http://linkd.in/hdelcastillo Please Join Us Again! Meetup: DC Lean Startup Mentor Panel (Braintrust) Aug 20th Webcast: Transform Your Career With An AIPMM Certification Aug 21st Meetup: Unscripted: Using Media to Build Your Brand Aug 22nd AIPMM Webinar Series: http://aipmm.com/aipmm_webinars Global Product Management Talk http://www.blogtalkradio.com/prodmgmttalk Call For Speakers: http://www.boldpm.com/call_for_speakers Topic Suggestions: support@aipmm.com Announcements: http://www.aipmm.com/subscribe LinkedIn: http://www.linkedin.com/company/aipmm Membership: http://www.aipmm.com/join.php Certification: http://aipmm.com/html/certification/