Helping startups thrive pays off for the entire community
Ryan Leary
Worcester has potential to put itself on the map of the startup world, but there is some discussion about what it takes, how it gets done and how important to the city it really is.
There's no doubt that cities that maintain a young, entrepreneurial population recognize substantial economic growth. An energized startup culture and entrepreneurial ecosystem create demand for products and services that only local businesses can meet, and the majority of dollars generated in these ecosystems tend to stay in the local economy.
The energy that entrepreneurial activity generates is contagious, attracting more people and further growing both the ecosystem and its multipliers. Emerging companies move into the city and college students remain after graduation, generating a larger, more diverse talent pool. Then, demand increases for everything from real estate to retail.
I see this cycle in action each day. As more people utilize our co-working space, I hear many opinions on how Worcester can improve its appeal as a place to live and work. These opinions sometimes turn into action, leading to projects like the Worcester Blue Light Initiative, an entrepreneur's effort to install LED lighting to highlight a specific area of the city to integrate public safety, sustainability, technology and culture. This reinforces the point that a startup culture is a critical building block of a stable Main Street business environment. As proprietors of restaurants or retail shops see increasing demand, they become more confident in opening or growing their businesses, leading to a more inviting city.
Worcester's base of larger corporations also stands to benefit greatly from a booming startup community.
Regardless of industry, corporations have vast supply chain needs that can be met by local startups. Even innovative demands can be outsourced to local startups and solopreneurs through contract work or incentivized challenges.
But here's the thing: None of this happens if we just talk about it.
A vibrant startup community doesn't just emerge from nowhere. We have to take meaningful action to make these things happen and approach the task as a necessity. Let's build on the opportunities that we already have, such as the Startup Worcester program from the Worcester Regional Chamber of Commerce. Let's work with the people who are already making things happen and seriously support their endeavors. Let's call on locally based corporations to see the value in interacting with the startup community. We need to aggressively promote the success stories — and even failed ventures — to let everyone know that great things can and do happen in Worcester.
Finally, we need a “go big or go home” attitude in our approach to initiatives and investments that support local innovation.
Ryan Leary is co-founder of Running Start, a collaborative workspace for entrepreneurs and startups in Worcester. Contact him at rleary@kennebecholdings.com.
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