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But its a self-fulfilling prophecy - if we don't do everything to keep companies where they are founded (which requires VCs and Angels to be more forgiving), it
by acconrad 16y ago
But its a self-fulfilling prophecy - if we don't do everything to keep companies where they are founded (which requires VCs and Angels to be more forgiving), it will only continue to improve the SV area and hurt the other tech communities, like Boston. I think if you are a founder, you should really focus on grabbing money in your local ecosystems and STRESSING to VCs/Angels that this is an investment in the local economy, and strengthening our presence in the entrepreneurial community.
- lincolnq 16y agoBut as a founder, what are your priorities? Strengthening the local economy, or making your business work? I don't think most founders have the luxury to insist that they get funded in their hometown.
- royrod 16y agoAgreed, it's a tough problem. I think Boston investors want to support Boston startups, but because of their structure/individual limitations (mentioned in the article) they can't necessarily "take one for the team" if it's investing 20% of their 'dry powder' for the year. That said I do think startups can play the "fund us locally" card a bit.
- acconrad 16y agoIt's not REALLY a priority, but a tactic for fundraising. Mint bought their domain from a VC by saying he could be the only investor in the NYC area and that would stroke his ego. The same thing needs to happen in Boston.