At the beginning of June I visited the impressive startup ecosystems of Boston and New York together with Sigrid and Katja of my team. My goal was to profile the strengths of the Dutch ecosystem, our technology clusters and the competitive advantages of The Netherlands, as well as to explore opportunities for cooperation and investments.
The organisation was excellent and done together with our partners, with Tjarda Moolenaar, from the NVP; Marianne van der Steen from MBI in Utrecht and the excellent support by both our consulates in Boston and New York. Their work is absolutely crucial when it is about getting the right contacts and entries, but also insights. For instance by being introduced to the very innovative model the Swiss consulate has developed to support cooperation and business in Boston. This would be worthwhile for our Foreign Office to look into!
And also Dutch startups shouldn't forget that our consulates can provide you with contacts and information.
Looking at Boston and New York, we are discussing two completely different clusters in different stages of development. Boston has a very mature ecosystem, with top universities, the big pharma companies, amazing startups and a very strong investment climate.
I met quite a few of the investors and they explained to me how important it was to build long term relationships and trust. It is all about knowing each other and investing in the four T's: team (quality,resilience) technology (innovative, possible), traction (realistic opportunities of the business model) and target (market potential)
Therefor it was also good to meet Dutch business men who had built up a very successful career, starting companies in the Boston area and explained how it worked. They told me that sometimes it took about 30 to a 100 pitches before they received an investment. Something to keep in mind if you have been turned down "only" for the fifth time. Being part of the network, however is key. I guess the fifth T would be "trust".
A highlight of the visit was the launch of the mentoring network organised by Dutch Basecamp and the Ministry of Economic Affairs. This energetic network can help you to receive practical advice from Dutch mentors who have started their businesses in Boston.I also gave a pitch at the Silicon Valley Bank in Boston. Dave Derks from Certa Legal explained more into depth the ins and outs of our system.
Our concept of the Netherlands being One Single Hub for startups and that together we are the largest ecosystem in Europe found fertile grounds. A large part of the people we spoke to offered their services and networks to strengthen the cooperation. We will connect them with the right people in our hubs.
New York is a relatively young ecosystem, compared to Boston and is built on numerous awesome startups and daring investors. Like in Boston it is an open culture of joining and sharing. People respond rapidly to your ideas and questions in conversations and via email. It is constructive and energetic, based on opportunities and joining forces.
Boris of the Next Web had invited us for an inspiring dinner with startups, business men and women and investors. A perfect start to emerce into the ecosystem. I gave a speech about Smart Cities at the Northside festival, which will also come to Amsterdam thanks to Kajsa Ollongren and her team.
Meeting Steven from Karma gave me a clear indication that changes within the European Telecom Market will be only a matter of time. Technology and innovative startups with new business models will lead the way.
We visited Shutterstock in the Empire State Building. This scale up which has its EU headquarters in Amsterdam is an amazing company with huge potential. And I had an inspiring meeting with the board of Union Square about the potential of Europe and the Netherlands as well as the challenges. Realising a Digital Single Market will be crucial to our future competitiveness. Not a moment to lose there!
The cherry on the cake was the meeting organised by the Dutch consulate. With Dutch startups pitching in front of New York investors. A great opportunity to learn from each other and receive feedback. Building strong relationships here is key as well. That is why exchanging startups between Amsterdam and New York is such a good idea, and also involving the Netherlands as One Single Hub. One huge pool of potential and established quality and networks. From Groningen, to Eindhoven, Rotterdam, Twente or Maastricht.
By signing an MOU in May with MaRs Toronto, co-signed by the Universities of Utrecht, Twente and the Radboud Academic Hospital, we are working on realising long term cooperation.
Transatlantic cooperation is important, but no more important than strengthening networks within Europe. That is why Sigrid Johannisse will visit Warsaw in June to talk to her counterparts of Germany, Poland and the UK and give a presentation on what our StartupDelta approach is. All in preparation of the three day StartupFest, in May 2016, where we want to attract the startup talent from all over Europe and across the globe.
We are working hard on putting the Netherlands in the international spotlight and I invite you to strongly support us in this and do the same!
My team and I have been working hard for the past six months, and we will keep up this fantastic job, branding and strengthening the networks of StartupDelta. So let’s go for one more year of energy boost!
Joining and sharing!