Entrepreneurship and innovation are journeys often embarked upon alone, but they don’t have to be. There is a common belief out there saying, “Work in the dark, shine in the light” and don’t tell anybody until it’s done. Well, I believe the opposite is true. TELL – what you’re doing (not the details, but the main idea) – this outperforms the benefits of working “hard” in the dark. When you do so, and you actually ask for help or intros, it is enlightening.
Now, who are you telling it to? Ask yourself this question, “If someone knows it, who would amplify the idea and make some intros?”
Unless you’ve built 10 companies and know everybody, this is where the startup ecosystem comes in. Understanding the pivotal role of accelerators, incubators, corporates, and venture capitalists (VCs) is akin to recognizing the rich tapestry of support, guidance, and resources available to innovators and entrepreneurs. The significance of this ecosystem is not just in the financial investment but in the mentorship, expertise, networks, and validation they offer.
This ecosystem represents a collective of entities that are essentially saying, “Ask for help, because we’re here to guide you through.”
Drawing inspiration from my book, Today’s Superpower: Building Networks, there’s a story that encapsulates this message perfectly. Patricia Letayf and Alice Bosley, co-founders of the startup incubator Five One Labs, navigated an environment fraught with challenges. Located in the Kurdistan region of Iraq, they embarked on a mission in 2017 to support entrepreneurs in conflict-affected areas. Despite the independence referendum in Kurdistan that year, which led to the shutdown of all airports and borders, trapping Alice in Iraq with limited access to funds, they persevered. Their determination to support their community, coupled with their innovative approach to building networks and leveraging partnerships, helped them navigate through a seemingly insurmountable situation. They leaned on collaborations, securing funding, and resources that enabled them to make a significant impact.
More details about the story are available in the book, but that should be enough to remind everybody that in the journey of entrepreneurship and innovation, reaching out for help is not only encouraged; it’s a strategic move towards success.
In a world that’s increasingly interconnected, the notion of going it alone is outdated. Yes, some people say soon a 1 person company will build a $1B business but that’s different. That one person will still need intros to customers, and investors; and that’s what a startup ecosystem is all about.
I am excited to share that tomorrow, driven by a joint effort of startup ecosystem enthusiasts Alain Bindels, Aline Noizet, Niko Freitag, Himanshu Nimje and myself, we’re launching the STARTUP ECOSYSTEM database EMEA. Why? To help founders find the most relevant programs, to help corporates partner with institutions having direct access to startups; to help agencies find the clients they need.
Remember, in the vast world of entrepreneurship and innovation, you are never alone.
Sources:
https://fiveonelabs.org/who-we-are
