4 Reasons Boston is Better for First Timers

 This morning, I awoke to a tweet from Blank Label's Fan Bi that said, "Boston actually getting better for first-timers or still more noise than signal?" which was addressed to many of the young entrepreneurs.  It got me thinking, and so I'd like to highlight why I think Boston IS getting better for first timers (but perhaps still has much work to do).

4 Reasons Boston is Getting Better for First Timers:

1) We have our own support group: DartBoston

So much goes back to what Cort and Jake have made.  Pokin Holes and Capitalize are events that everyone in the young community looks forward to.  DartBoston starts out by being a place for many Young Entrepreneurs to meet and get excited about each others startups, but as people engage and keep coming back there's much more to be had.  

Many close friendships form that lead to them helping each other; whether it's phone calls between young entrepreneurs set up for themselves (Fan Bi, Jeremy Levine and Michael Raybman do this) or a Capitalize, pre-pitch practice, there's now a place for young people to meet and help one another.  And this doesn't even include the show itself where 49 companies have gotten feedback on Pokin Holes and the 9 companies that have gotten investor feedback on Capitalize. 

2) Young Entrepreneurs are getting involved in the solutions

You can see all the solutions outlined in the past post, "Entrepreneurs are about solving problems: 8 Ways Young Entrepreneurs are Part of the Solution", but suffice it to say things are getting better because:

• there's a community (DartBoston)
• better connections being made (Family Dinners, BeIn, etc)
• greater awareness of what's available (Greenhorn) and what's going on (BostInnovation)
• more support within local universities (IDEA, HIC, MIT100K, UMassVDC)
• more workspace solutions (Vogel Labs)
• more work opportunities (Career Combine & Propel Careers)

3) Many in the Community are Stepping Up

Nine different VCs have done Capitalize to show their support of young people and try to lower the barriers to getting to make a pitch.  Quite a few first timers are in DogPatch Labs right now, which provides them free office space while they get started.  If you attended the Husky Innovation Challenge final, you would have seen quite a few older members of the community, many with no connection to Northeastern, coming to support the entrepreneurs.  

Whether it's the StayInMA program paying so students can afford events or the MIT Enterprise Forum giving tickets away, barriers are lowering on getting educated and networked as well.  

Many are saying they're committed to helping first timers and working to do their part to help.

4) Cause for optimism: new programs and positive signs

There are multiple new incubators and early stage funding programs in the works from Reed Sturtevant and Katie Rae's Project 11 to Lee Hower and Rob Go's untitled early stage investment fund.  Angel Bootcamp brought out many potential new angel investors as well; however, time will tell both how many investors are created from the event and if they choose to invest in first timers.

Many of the workspaces are expanding, providing more options, from BetaHouse to Vogel Labs, to DogPatch Labs to the CIC to Workbar...they're all expanding and trying unique options to provide innovative working options for entrepreneurs.

Finally, I think one of the most encouraging examples is Highland Capital.  Last night they had two of their members as the VCs providing feedback on Capitalize and two of their best local portfolio companies are run by first timers: SCVNGR with Seth Priebatsch and Gemvara with Matt Lauzon. Hopefully their success inspires more chances taken.

Conclusion:

While there is much work to be done still (mainly in the investment space, it seems), I see plenty of signs that things are MUCH better for first timers than a year ago and that things are in the works already that will help. I believe there is a strong case that things will continue to improve.  

What's also interesting is that much of what's "getting better" are actually things we're doing ourselves. I think that speaks to both the entrepreneur spirit and us understanding most what's needed.  (Shameless plug) If you're a recent grad or student reading this, we'd love to have you take This Survey to help us understand.

These were the positives...What do you find that is or isn't working in the ecosystem? Let's get the good and the bad out here.

Photo Credit: ReneS on Flickr