Startup studio: Building a Successful Tech Business Without the Silicon Valley
The Silicon Valley model for growing an innovative tech company is highly dependent on the concept of the unicorn. VCs, angel investors, and accelerators sift through thousands of proposals sent to them by independent entrepreneurs. They fund a large number of them, hoping that one will become uber-successful. The single unicorn then attracts a huge volume of capital, allowing the VC to write off all the other companies as a loss.
This process has a low hit rate, and requires a highly developed ecosystem that can support all the…