Is location important when you thinking about starting up? Should you startup in a particular city as compared to others? Why Silicon Valley or London, or Tel Aviv or Bangalore???
The answer is yes, a good location can assist the founders in their startup. Unless you are running a very offline or location specific business where you need to be stationed in the city of launch, it is advisable to move to a city where the startup ecosystem is stronger. In such cases as well, we can have a team in the city of launch to gather/execute the physical part of the business whereas the marketing, technology teams can be seated elsewhere. The reasons for choosing a city which is more conducive to startups are as follows:
- That is where the experts are. Having an established startup ecosystem will ensure that the location will have better more experienced people to mentor and assist you.
- The culture will ensure that you will feel in place and in general you will receive more assistance from people around. People will be more sympathetic and understanding towards what you are doing.
- Vendors & supporting Industries will be more established, thereby enabling your startup to grow with better services and experience supporting it.
- The funding community tends to be more active and involved in the city's startup scene.
- Finding co-founders and hiring the best talent will be easier, which gets drawn due to the city's reputation and culture.
Hence, if one has an option to shift, one should.
The answer is yes, a good location can assist the founders in their startup. Unless you are running a very offline or location specific business where you need to be stationed in the city of launch, it is advisable to move to a city where the startup ecosystem is stronger. In such cases as well, we can have a team in the city of launch to gather/execute the physical part of the business whereas the marketing, technology teams can be seated elsewhere. The reasons for choosing a city which is more conducive to startups are as follows:
- That is where the experts are. Having an established startup ecosystem will ensure that the location will have better more experienced people to mentor and assist you.
- The culture will ensure that you will feel in place and in general you will receive more assistance from people around. People will be more sympathetic and understanding towards what you are doing.
- Vendors & supporting Industries will be more established, thereby enabling your startup to grow with better services and experience supporting it.
- The funding community tends to be more active and involved in the city's startup scene.
- Finding co-founders and hiring the best talent will be easier, which gets drawn due to the city's reputation and culture.
Hence, if one has an option to shift, one should.
No comments:
Post a Comment
What do you have to say about this post?