How can we encourage the development of an innovative New Media economy in the Valley that encourages small business growth? Paul will introduce us to the proven pillars of open entrepreneurial ecosystems and walk us through a discussion about what this model may look like here.

1. Startup Communities
Paul Richards
July 8th , 2013

2. Startup communities develop innovative, entrepreneurial, growth
orientated small businesses.
• Small businesses 98% of businesses;
• Represent the backbone of the economy;
• Small businesses spur innovation;
• Diversify the economy and create niche opportunity for youth, immigration
and “new economy” jobs.
Startup Communities also create growth firms (gazelles);
• 1% of small businesses create 40% of new job creation
Startup Communities
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The “Holly Grail” of economic development

3. Elephant and the Blind Men
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It is a question of perspective!

4. • Need a core mass of talent – technical and business
• Create the community’s gravity to attract talent
• A.B.R. (Always be recruiting)
• Leverage academia (students, faculty, and networks)
• Recognize your talent gaps and fill them
•
Talent -
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Knowledge is fluid but embedded in people

5. • Group of committed leaders
• Action orientated
• Leadership should be diverse and represent the full
startup ecosystem
• focused on a very long view (10 -20 years to live the
vision)
Entrepreneurs & Leaders
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Who will take the lead? Set the example and establish the new norms!

6. • Pursue diversity
• Expand networks
• Formalize the sharing of ideas
• Stage a variety of regular events
• Commit to supporting other startups
• Be findable
Community
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Be a region that facilitates the collision of ideas; that is where ideas want to
live!

7. • identify the unfair advantages
• embrace what is unique & indigenous to the area
• don’t try to recreate another community – that boat has
already sailed
Regional CompetitiveAdvantage
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Stop the “Silicon Valley envy “and build on your own strengths

8. • Identify the top 10-15 in your market
• Startup Mentors typically come from the startup world
• Import what you don’t possess
• provide environments for them to connect
• always be looking to grow the fraternity
Mentors
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Metaphorically older and wiser and has traveled the road before

9. • encourage the “lowering of the elavator”
• crack the nut on unlocking private investment
• Adopt a “pitching culture”
• know who is interested in what
• build bridges with other communities
Access to Capital Capital
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Startup communities support their own

10. Baseline
Growth of
Core Mass
Sustainable
Ecosystem
Startup Community Continum
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11. • Strong research and technical capacity (Acadia, NSCC
& Kentville Research Station)
• Proximity to Halifax
• High quality of life – desirable lifestyle
• Emerging technology community (Refresh Annapolis
Valley)
• Institutional support (innovacorp, ACRI, etc)
• VCFN
Annapolis Valley Ecosystem
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12. Building a Foundation for a Startup
Community
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Grow existing
businesses and
ideas
Build a Network
for the
Community
Programs that
get people
thinking
differently
Build broad
based support
to prioritize and
focus on your
competitive
advantage on a
sector.
Support the growth of technology
businesses to establish a stronger
core mass.
Establish a strong tech-groups to
create networking and training
opportunities, visibility and excitement.
Program to push innovation and
create stronger ideas and
commercialization skills
Build broad based support for growing
the knowledge based industry with a
shared vision and philosophy.

13. Competitive
Advantage
(Agriculture )
Develop
“ladder”
programs
Become
a “nod”to
Halifax
Annapolis Valley Focus
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Deeper dives to enhance cluster