10 Rules for a Strong and Lasting Startup Community

The author's journey in the startup realm spans regions from the coastal plains of Virginia to the Gulf Coast of Florida, with stints in Eastern North Dakota, the Twin Cities of Minnesota, Seattle, Silicon Valley, and South Florida. With involvement in nine startups and numerous affiliations as an angel investor, board advisor, and mentor, the author discerns the attributes of healthy startup communities versus those that are indifferent or even antagonistic.

Defining a 'Startup Community,' the author clarifies that it transcends geographical boundaries, comprising practicing and aspiring entrepreneurs across multiple counties. The challenges arise when certain entities, like universities or municipalities, attempt to confine participation within specific geographic or institutional domains, fostering competition and thwarting collaboration.

The author presents ten guiding principles for fostering a healthy and sustainable startup community:

1. No one owns or controls the community: A healthy startup community rejects dominance by specific entities, fostering a collaborative environment free from restrictions.
2. The community is open to all who want to participate and contribute: Embracing diversity and inclusivity, a healthy startup community welcomes positive contributions from individuals across various demographics.
3. The community is horizontal, not vertical: Encouraging a broad spectrum of ideas and industries, a thriving startup community resists biases for specific sectors or entrepreneurs.
4. Entrepreneurs lead the community: Successful entrepreneurs, not bureaucrats or academics, should spearhead a startup community, drawing from firsthand experience.
5. Mentors and supporters are generous first, and invested stakeholders second: Genuine support for entrepreneurs takes precedence over personal gain, ensuring the community's well-being over individual benefits.
6. Failures, pivots, and restarts are celebrated, and entrepreneurs are recycled: Viewing failure as a stepping stone to success, a healthy startup community recognizes the iterative nature of entrepreneurial journeys.
7. Seed capital is entrepreneur-friendly, not predatory: Startup financing should reward investors without exploiting entrepreneurs, creating equitable deals for sustainable growth.
8. Service providers are properly engaged and not allowed to be pushy or trivialized: Striking a balance between service providers' engagement and entrepreneurs' needs, the community thrives when both parties benefit.
9. Innovation and disruption are valued as much as job creation or retention: Prioritizing long-term value creation over short-term job retention, a healthy startup community supports disruptive innovations.
10. The community prioritizes acceleration over incubation and weeds out do-nothings and bad actors: Focusing on scalability, a thriving community distinguishes between active contributors and entities draining resources without progress.

In summary, these principles, proven globally, contribute to the creation and sustainability of healthy startup communities. While not prescriptive, they provide a foundation for defining the ethos of a community and fostering an environment conducive to innovation, collaboration, and growth. The emphasis is on articulating and embodying principles that resonate with the unique identity of each startup community.