Last week, we were in Lima for our second stop of the Momentum Tour. We met with government officials—the people who oversee the support that startups receive directly from the country—investors investing in the country’s best seed-stage founders, and corporates doing business with the country’s newest startups. Everywhere we went, I asked whether they felt like Lima was a great place to grow a startup. And, everyone’s responses seemed to distill down to five common themes around what it means to build a company in an emerging market.
So many startups think they have to move to San Francisco in order to be successful. But data shows that accelerators, mentors, and investors are all primarily looking locally when they’re supporting founders. Here’s proof.
Cities and towns large and small have a confidence problem right now, but it’s time to start taking pride in the connections, support, and stories you already have, instead of waiting until you cross over “the finish” line.