Entrepreneurship in locations outside startup hubs

Abstract

Startups are usually concentrated in hubs like Silicon Valley, Boston, Bengaluru and DelhiNCR. These startup hubs provide an ecosystem that gives access to the talent, funding, mentors and business partnership. This requires entrepreneurs with business ideas to relocate to these hubs to develop their ventures. This creates two problems: First, the over-concentration of entrepreneurs on the hubs puts a strain on the city resources. Second, entrepreneurs who want to build businesses centered around their present locations do not get access to some resources the startup hubs offer. By identifying the factors that enabled success in locations outside startup hubs, startups can be supported throughout the country, resulting in more widespread development. This study’s aim was to discover the factors that have contributed to the success of entrepreneurial ventures that are located outside startup hubs. The objectives are: 1. Find what factors have contributed to success of startups outside the startup hubs 2. Identify what support needs to be provided so that startups can become successful outside the hubs.