This past December I spent a week in Boston
to try to get to know some of the local VC’s and entrepreneurs a bit
better. One of the meetings I had (organized by my good friend Jeff Yolen) was with New
Atlantic Ventures held the at the CIC, aka the Cambridge
Innovation Center (no prizes for guessing where it’s located).
As they showed me around the CIC I was instantly envious. I recently wrote a blog post about why I believe that startup teams in close proximity perform better. I believe that first-time entrepreneurs also benefit hugely from working in close proximity to other companies. VCs constantly share cross fund information and are therefore always getting dialed into what is going on in the industry. We know prices of deals, compensation, who’s doing well / poorly, etc. Entrepreneurs need to share more information with each other. I’m surprised how few people talk about valuations, term sheet terms, how much to pay recruiters, etc. A tech lab is a perfect hub for this kind of cross-company fertilization.
To read the full, original article click on this link: I Want My CIC! … The Benefits for Startups to Be Co-Located | Both Sides of the Table
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