Tomorrow night at the Atlanta Tech Village is Atlanta Startup Village (ASV) #39. ASV is free to the public and the largest monthly gathering of entrepreneurs in the Southeast. Here are the presenting startups:
Please join us at the event and connect with fellow entrepreneurs.
Continuing with yesterday’s post on Rating the Atlanta Startup Scene, several people have asked how we get more local institutional capital. Institutional capital, like it sounds, is capital provided by institutions like university endowments, pension funds, etc. Generally, institutional capital is a much larger source of capital, as compared to angel capital, and thus an important part of a thriving startup scene, especially for startups that hit the growth stage (see Scaling a Startup is Expensive).
Here are four reasons there’s a lack of institutional capital in Atlanta (and all areas outside the Bay Area, Boston, and NYC):
As expected, the answer to having more local institutional capital is to have more successful startups with solid exits that generate returns for first-time funds so that they can then raise another fund with institutional capital. It’s a multi-stage process that requires a decade or more to see results. The best thing we can do as a community is to help produce more successful startups.
What else? What are some other reasons for a lack of local institutional capital?
Two years ago I put together a few thoughts on the Atlanta startup scene and gave ratings for each of the major components. Well, it’s time for an update. We’ve made good progress in a few areas and moved backwards in others.
Here’s my rating of the Atlanta startup scene:
Overall, I’d give the community a B with a quality foundation and significant room to grow and improve. As a community, the most important thing is to increase the number of startup success stories. Results matter.
What else? How would you rating the different components of the Atlanta startup scene?
On Independence Day here in the United States, we love to watch fireworks and feel the boom of the explosion in the sky. For today’s post, watch a video titled What’s the origin of fireworks? from Mental Floss.
Happy 4th of July!
Atlanta Startup Village #38 just kicked off. Watch it live streaming from the Atlanta Tech Village event center and check out the presenting companies:
Also, join the ASV Meetup group and get notified of future events.
The Atlanta Startup Village is the largest monthly gathering of entrepreneurs in the Southeast.
Recently I overheard an entrepreneur in the halls of the Atlanta Tech Village say, “I’m going to be successful like X.” Now, ‘X’ in this case, was a successful company in the Tech Village. The fact that another company, in the very same building, achieved success made the entrepreneur more confident.
Proximity to success inspires entrepreneurial confidence.
The early employee at a startup that goes on to do great things has more entrepreneurial confidence to start their own venture.
The high school student who reads about the entrepreneur down the road is more likely to say “I can do it too.”
The next door neighbor that just had their first successful exit inspires their neighbor to think “what if” on a new idea.
The idea that successful entrepreneurial activity attracts other entrepreneurial activity is real. Inspiration comes from many places and proximity to success is one of them.
What are you doing to increase your entrepreneurial confidence? What are your doing to put yourself around successful entrepreneurs?
Next Monday is Atlanta Startup Village #37 at the Atlanta Tech Village. Atlanta Startup Village is the largest monthly gathering of entrepreneurs in the Southeast. Every month five entrepreneurs give five minute pitches followed by five minutes of audience question and answer. For Monday’s event, there’s a strong showing of portfolio companies from Atlanta Ventures:
Join the meetup and come to the Tech Village on Monday night.
One of the most important things an entrepreneur can do in their journey is find a community. The high highs and low lows of being an entrepreneur are incredibly stressful. By finding a community of like-minded entrepreneurs that are eager to share ideas and the ups and downs, success is accelerated and emotions modulated.
Here are a few ideas for finding an entrepreneurial community:
Finding an entrepreneur community is immensely valuable and should be high on the list of things to do when building a company.
What else? What are some more thoughts on finding an entrepreneur community?
Several times this quarter entrepreneurs have asked me for advice, I’ve obliged, and then they’ve promptly given me an NDA to sign. My response is always the same: unfortunately, I don’t sign NDAs to hear startup pitches. Mark Suster’s great post On NDAs and Confidentiality covers all the major points:
This is the annual no NDAs reminder for most entrepreneurs (note: investors do sign NDAs for growth stage startups).
What else? What are some more thoughts on NDAs between entrepreneurs and investors?
Join us at the Atlanta Tech Village tomorrow night for Atlanta Startup Village #36. Atlanta Startup Village is the largest monthly gathering of entrepreneurs in the Southeast. Five startups give five minute pitches followed by five minutes of audience questions. Here are the presenting startups:
RSVP at the Atlanta Startup Village Meetup and come by the Tech Village tomorrow night.
David Cummings on Startups 