Updated: Apr 27, 2020
How we define a successful startup impacts not just the entrepreneurs, but those who support and inventst in them. Consider our national start-up ecosystem with its geographies, support systems, institutions, and funding sources. Which entrepreneurs are celebrated? Who gets the invite to that panel discussion?
Venture capital is valuable, accessible to but a select few types of companies in very specific geographies. Yet, the vast majority of ecosystem stakeholders drive start-ups towards a funding model, rather than towards the possibility that they won’t get funding and should prepare by addressing product:market fit and business model fit to make a first sale.
Venture has self-defined for us all a very exclusive definition of success. Yet, there are broader stories of entrepreneurial success just waiting to be told. In this animated video we are talking about those stories - they are the 83%. Today's capital structure promotes the development of startups and small businesses that fit the investment requirements of lenders and equity investors. We'd like to focus on the 83%, creating a defined, viable, actionable framework for their success.