by: Grow VC Group
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Overview

The role of technology startups in our global economy has never been more important. Startups may seem insignificant compared to large multinational companies that have trillions of dollars of wealth sloshing around in public markets, but a Kauffman Foundation study found that the majority of job growth in the United States is driven by technology startups. The power of information technology has been steadily increasing for the last three decades and has recently reached a level of maturity that has started to trigger a reorganization of the global economy. It has never been easier or cheaper to create a startup thanks to infrastructure like open source software, software as a service, cloud hosting, globally ubiquitous payment processing, viral distribution channels, real-time collaboration, on demand logistic services and hyper-targeted advertising.

As a result, the pace of change is speeding up and the implications of this are immense. Billion dollar startups are emerging faster and faster. Given the innovative startups’ critical role in the information economy, the importance of healthy startup ecosystems only stands to increase in the future, being this the reason why local, regional and national governments across the world are establishing programs to support tech entrepreneurs in an effort to stimulate economic growth and job creation.

Background

The City of Barrie has a strong entrepreneurial ecosystem background with key players like Invest Barrie, Henry Bernick Entrepreneurship Centre at Georgian College or VentureLAB. Its target is to make the transition from entrepreneurship to startup ecosystem and wants to encourage technology entrepreneurs to start and grow global businesses that will create more jobs, boost Barrie’s economy, strengthen global connections and make the city a more desirable place to live, work and visit.

Barrie’s tech startup ecosystem is in the very early stages of development and they face challenges like lack of volume factor, limited access to investment, key services and activities, as well as a framework in place to break with silo mentality and implement a holistic approach that can bring more connectivity, measurement and benchmarking to its startup ecosystem.

Solution

Initial two days kick off workshop to build mutual understanding of the current level of Barrie’s startup ecosystem and services, to figure out what development and focus is required first and which parts of this development would benefit the most to begin with. This allows to then set a clear target and milestones, along with a specific plan, timeline and budget to reach the set target.

Read more and see the list of deliverables on Startup Commons Blog.

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About the author

Grow VC Group The Grow VC Group is the world leading, global pioneer of securities crowd funding, peer to peer marketplaces, new investment models and global business development. Established in 2009, the Group has developed new investment models on six continents and continues to innovate the global market.

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This entry was posted on Monday, March 28th, 2016 at 4:00 pm and is filed under Business Updates. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.