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TLDR:
Key Points:
- Seattle’s startup ecosystem could benefit from more operators, sizzle, and founders investing in each other.
- Investors highlighted the need for more founder support, connectivity, and transparency in feedback.
Seattle’s startup ecosystem has some key elements missing that could elevate it to the next level, according to a panel of early stage venture capitalists. The panelists suggested the following key aspects that could enhance Seattle’s startup scene:
The panelists noted that Seattle often receives criticism for lacking homegrown funding for tech startups compared to other major hubs like Silicon Valley or New York. However, they emphasized that the focus should not solely be on the number of VCs or dollars available locally, as many Seattle startups raise investment from outside firms, which can be a positive feature.
Leslie Feinzaig, founder of Graham & Walker, highlighted the importance of founders supporting each other in the ecosystem, noting that experienced startup individuals investing in early-stage companies can be beneficial. To address this, efforts such as Seattle Foundations, an invite-only organization, are being made to foster connections among tech founders.
The panelists also discussed the need for Seattle founders to add more “sizzle” to their pitches and for the ecosystem to embrace more transparency and directness in feedback. Additionally, the city could benefit from retaining top engineering talent, who often have lucrative opportunities at large tech companies in the area.
Overall, the panelists emphasized the significance of creating a more connected and vibrant entrepreneurial community in Seattle, promoting a culture of support and collaboration among founders, investors, and advisors to propel the city to the forefront of the global startup landscape.
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