Recently, Ray Leach, the CEO of JumpStart Inc., aroused the ire of economic development advocates for defending the move of a local startup named Phenom to entrepreneurial hotspot San Francisco to join 500 Startups, a top accelerator. As an entrepreneurship researcher, active angel investor and columnist, I am frequently confronted with the question, “What should promising high potential startups in less vibrant entrepreneurial ecosystems do to raise capital?”
