If you are in Boulder, come to my community hours today between 1 and 5 at the Boulder Bookstore on Pearl Street. David Cohen (TechStars CEO and co-author of Do More Faster) and I will be hanging out all afternoon, talking to whoever shows up about anything that is on your mind, and signing copies of Do More Faster until the Boulder Bookstore runs out of them.
As readers of this blog likely know, I do monthly community hours (also known as random days) where I’ll meet with anyone for 15 minutes about anything they want to discuss. Usually they are scheduled – today’s is an open free-for-all.
Come hang out, buy a book, and talk about entrepreneurship with me and David.
The Defrag Conference is happening in Boulder on Wednesday November 17th and Thursday November 18th and is looking like it will be the best one yet. If you haven’t yet registered, use the code “foundry2” to take 15% off of your registration.
The confirmed Keynote Speakers include:
And that’s just some of the keynotes. Toss in a bunch of networking, lots of stimulating discussion, and breakouts that cover everything from APIs to shifting to the Cloud to Social Media Analytics to the Social Customer and it’s shaping up to be dynamite.
If you’re from Colorado, I’d urge you not to miss this stage of deep thinkers from around the nation coming to our fair state.
If you’re from outside of Colorado, what could be better than a few days in a resort overlooking some of the nicest mountains you’ll ever see while thinking deep thoughts?
I hope to see you at Defrag.
Last week I posted an article on peHUB titled How to Create a Sustainable Entrepreneurial Community. Here it is in its entirety.
I’ve lived in Boulder for 15 years after living in Boston for a dozen. While I’ve spent a lot of time in Silicon Valley — both as an angel and venture capital investor — I’ve never lived there. While the firm I’m a partner in — Foundry Group — invests all over the United States, I regularly hear statements like, “The only place to start a tech company is in Silicon Valley.”
When David Cohen (CEO of TechStars) and I co-founded TechStars in Boulder, Colo., in 2006, we had two goals in mind. The first was to energize the early stage software/Internet entrepreneurial community in Boulder. The second was to get new first-time entrepreneurs involved more deeply in the Boulder entrepreneurial community. Four years later, we feel like we really understand how entrepreneurial communities grow and evolve.
First is the recognition that Silicon Valley is a special place. It’s futile to try to be the next Silicon Valley. Instead, recognize that Silicon Valley has strengths and weaknesses. Learn from the strengths and incorporate the ones that fit with your community while trying to avoid the weaknesses. Leverage the natural resources of your community and be the best, unique entrepreneurial community that you can be. Basically, play to your strengths.
Next, get ready for a 20-year journey. Most entrepreneurial communities ramp up over a three- to five-year period and then stall or collapse, with the early leaders getting bored, moving away, getting rich and changing their priorities, or just disengaging. It takes a core group of leaders — at least half a dozen — to commit to provide leadership over at least 20 years.
But these two things — playing to the strengths of your community and going on a 20-year journey — are table stakes. Without them, you won’t get anywhere, but you need more. In Boulder, we’ve figured out two critical things for creating a sustainable entrepreneurial community.
First, do things that engage the entire entrepreneurial community. Over the years I’ve been to many annual entrepreneurial award events and I’ve gone to endless cocktail parties for entrepreneurs. These are nice, but they get boring quickly. More importantly, these types of events don’t actually engage anyone in anything functional — you end up seeing the same old people and saying the same things to each other.
You need to take the next step and create real events that have entrepreneurs work together on a regular basis. Meetups and Open Coffee Club type events that occur on a regular basis are a great start. Hackathons, Startup Weekend, and Open Angel Forum events are the next level. Events at the local university, such as CU Boulder’s Silicon Flatirons programs, including Entrepreneurs Unplugged and Entrepreneurial Roundtables, involve the entrepreneurial community with students who are the future entrepreneurs in the community. And programs like TechStars — which engage the entire entrepreneurial community for 90 days a year — are the icing on the cake.
Next, you have to continually get fresh blood into the entrepreneurial ecosystem. It has to be easy for a new entrepreneur to emerge in your community and get connected with the experienced entrepreneurs and investors. If someone moves to your community, it has to be easy for him or her to engage. Experienced entrepreneurs and investors should want to work with new entrepreneurs and new entrepreneurs should have their minds blown when they move from their otherwise dull and disengaged community to your exciting, welcoming and engaging community.
We are in the midst of an entrepreneurial revival across the United States (and the world) right now. Hopefully we’ll learn from the past cycles and do things to keep things going this time around so that in 2025 there are numerous strong entrepreneurial communities throughout the United States. My partners and I at Foundry Group look forward to helping nurture many of these communities with investments and our engagement over the next 15 years.
Want to work for a startup?
Have you ever wanted to work for a web startup, but aren’t sure where to look or how it might be different from a big company gig? Come check out the TechStars Smackdown event on October 12th in Boulder.
It’s not a typical job fair. The event starts with a panel of entrepreneurs that will answer questions about what it means to work for a startup – common questions such as salary levels, equity versus salary compensation, work/life balance, and job security. Then 12 Boulder companies (Vacation Rental Partner, ScriptPad, Rezora, SendGrid, Omniar, StatsMix, Spot Influence, Graphic.ly, Snapabug, Next Big Sound, Orbotix, BlipSnips, and Gnip) will each get 5 minutes to sell you on why working for their startup will be a great career move.
The event ends with networking so you can meet the founders of these companies in person.
It’s free and open to the public, but requires a reservation. Check it out – you might be the key employee that helps propel that company to stardom.
Entrepreneurial communities grow up around smart people. Whenever someone in state or local government asks me what they can do to accelerate entrepreneurship, I always tell them to put as much money and energy as they can into education. If you build a broad base of smart, inquisitive, curious people that are long term members of your community (e.g. they don’t move somewhere else), you’ll be delighted with the results over a long period of time (think 20+ years).
Richard Florida, one of the most thoughtful writers and thinkers about entrepreneurial communities, recently identified Boulder as the “brainiest city in the US.” Richard Florida’s first book, The Rise of the Creative Class, is a must read for anyone that cares about entrepreneurship and entrepreneurial communities. It forms the basis for his body of work around the notion of a creative class and has influenced plenty of my thinking in this area.
To get a feel for the data and description that names Boulder as the Brainiest City in the US, there’s a quick slide show (that I can’t embed) that has the following data on it.
This reflects nicely on my post about Entrepreneurial Density from a week ago. 25% of the population in Boulder has a graduate or professional degree. Don’t forget that about 20% of the population of Boulder are undergraduate students. That’s a remarkable number.
I’m heading to Chicago early tomorrow morning to participate in a two day event around this years Excelerate program. Monday is Angel Excelerator 2010 and Tuesday is the Excelerate Demo / Investor Day. David Cohen and I are doing a talk together and we get to watch our friend Dave McClure juggle 500 hats. There are plenty of smart people in Chicago – I look forward to spending a couple of days hanging out with some of them.
There are two positions that I find difficult to fill in Boulder in the various companies we are investors in. The first is a real product manager (PM). We’ve got a bunch of great ones in Boulder, but there appears to be 100% employment for them and I don’t poach from myself as that seems counterproductive. The other difficult person to find is a UX design guru.
Now, there are a number of strong web design and development firms in Boulder, such as our friends at Slice of Lime, and we use them regularly throughout our portfolio. They are also plenty of strong UI developers. However, in some companies we really need a full time UX person, especially those that are software dev heavy. We’ve managed to solve this in most cases, but it’s hard and the pool of gurus is small.
So, I’m looking for one UX person that can also handle the UI development who is off the charts that wants to move to Boulder. I’ve got a well funded company with an awesome technical team for you to join that is working on some really interesting and difficult stuff. It’s going to market in Q4 with a unique product that has the potential to really shake up a particular segment. I’m not looking for a UI person that thinks he can do UX; rather I’m looking for an amazing UX person who specialized in web services and is comfortable crossing over the UI development.
If you are this person, email me right now.
Last week I co-hosted a lunch for Jared Polis with Kyle Lefkoff at Boulder Ventures which Jud Valeski covered nicely in his post titled Luncheon with Jared Polis. Jared was one of the first people I met when I moved to Boulder (thanks to an introduction from my long time friend Dave Jilk) and we’ve been great friends and partners on a number of fronts ever since.
The attendees at lunch were a bunch of Boulder entrepreneurs in three areas – software / Internet, biotech, and natural foods. While I spend almost all of my time focused on software / Internet, it’s always interesting to hang out with some of the Boulder entrepreneurs in other segments to hear what they are thinking and working on.
During lunch, I reflected some on the number of times I’ve heard in the past year from people outside of Boulder about how Boulder has become a nationally known entrepreneurial center. The comments come from all over and are often followed by the question “how can we do what you guys have accomplished in Boulder in our city?”
While I was listening to everyone and being proud of the little 100,000 person town I call home, I thought of a new phrase that I hadn’t used before: “entrepreneurial density.” I wondered out loud if Boulder was the “highest per capita collection of entrepreneurs in the US.” I have no idea if this is true but from my travels around the US it feels like something that might be true.
On Saturday morning as I was filling my car up with gas, I ran into someone I know that works at Rally Software. This kind of thing happens all the time – I’m constantly running into, sitting next to, or just saying hi as I wander down the street to people that work at startups in Boulder.
Entrepreneurial density isn’t just the “number of entrepreneurs per capita”, but it’s the “number of people that work at entrepreneurial companies per capita.” It gets even bigger when you include students and calculate the “(number of people that work at entrepreneurial companies + the number of students) per capita.
As ED = ((entrepreneurial_emps + students) / adults) approaches 1, you get complete entrepreneurial saturation. I’m going to guess that Boulder’s Entrepreneurial Density using this equation is somewhere between 0.50 and 0.75, but this is just a guess. I’m curious if anyone out there has a real way to calculate this.
I get a lot of inbound resumes from folks looking to relocate to Boulder. I also get a lot of requests from local CEOs for candidates for various positions. I do my best at connecting folks, but I’m sure plenty of connections slip through the cracks.
So – David Cohen of TechStars (who has the same thing happening to him all the time) and I have created a new private email list for CEOs of Boulder-based companies. We have started to email qualified inbound resumes to this list. By qualified, I mean that it’s a real inquiry, rather than a generic “resume spam email” which is the only email I get that I won’t respond to.
If you are a CEO of a Boulder-based company and want to be added to this list, just email me. Alternatively, if you are interested in relocating to Boulder and want to get exposure to the local CEOs, just email me.
Did someone recently say email was dead? Whatever.
A week ago I had just gotten home after a month in Homer, Alaska. I was totally chilled out – I worked plenty in July but had very little physical human interaction with anyone other than Amy. I’m sitting here in my Boulder condo today thinking about the entrepreneurial tour de force that was the last six days. I think I interacted with more different people each day than I did cumulatively over the previous 30 days in Homer.
The Boulder New Tech Meetup double header (Tuesday and Wednesday) started things off. The second Boulder Open Angel Forum delivered. Then we had TechStars Demo Day which was amazing, followed by an Open House at Jive Software (they acquired TechStars Boulder 2007 company Filtrbox last year and are growing like crazy), a Return Path board dinner at Black Cat, and the the TechStars Afterparty at the Draft House. Friday saw a Return Path board meeting and lunch with the folks at Return Path followed by TEDxBoulder on Saturday. Oh, and in between I had piles of “regular work.”
There were numerous blog posts and tweets from the week, but my favorite post about an event from the week is up on the True Ventures web site titled On The Road With TechStars Boulder. In addition to all the locals, there were a huge number of folks from out of town who participated in the various events and I smiled a big smile when I read the post.
Last night during the TEDxBoulder intermission break, I had a few quiet moments to myself as I wandered around the grounds of the Boulder Chautauqua. I was filled with a deep satisfaction about the amazingness of the people of Boulder. While there are lots of other great places in the world, I am most at home here. And it’s good to be back home.