Having discussed the types of people and organizations involved in a startup community, we now turn to the resources and conditions in a city that accelerate or constrain the ability of entrepreneurs to succeed. We call these factors and organize them using a framework we call the Seven Capitals.
While collectively, along with the actors, these parts of a startup community are of course important, it's critical to understand that the interaction between them is what matters most. Still, an understanding of the factors is valuable when engaging with a startup community.
THE SEVEN CAPITALS
Now that we've identified the who in startup communities let's shift gears and discuss the what, the critical resources and location-specific conditions that impact entrepreneurship in a place.
Let's start with a framework called the Seven Capitals. These are the core assets of a startup community that produce economic value. Like the traditional meaning of capital, they can be depleted and subsequently require replenishment through the investment of time, effort, or money. They ...