05 May Building a Bridge for Startups in San Antonio
The Valley of Death
San Antonio’s startup ecosystem needs a bridge. We see a gap in startup companies growth between early stage and self-reliant maturity. In startup communities this gap is often referred to as the valley of death. Unfortunately, many don’t survive to see the other end of the valley. Most often, we see startups fail due to a lack of connections to find VC funding and investors or an inability to sustain long enough to reach a revenue positive state.
Venture capitalists tell us they want to see San Antonio’s talent pool grow. Talent follows resources. It’s a symbiotic relationship. The more resources, support, and funding we put in, the more attractive San Antonio’s startup ecosystem becomes to new talent. If you build the bridge, they will come.
Many early stage companies in San Antonio have lots of potential. The talent is already here and I see it first hand on a daily basis. They need connections and mentors who want them to succeed. They need a community that is willing to build the bridge over the valley of death.
A Community of Builders
Geekdom is one of those communities. At our core we are here to build up San Antonio’s startups. We are a collaborative coworking community that supports entrepreneurs on their journeys. We want to see companies start, grow and stay in San Antonio.
Geekdom’s programs help build startups. We host startup weekends to spark ideas, free legal clinics to incorporate companies, a community fund that invests $25,000 a quarter, a pre-accelerator, and an incubator. These valuable programs help hundreds of entrepreneurs progress from ideation to early-stage startups.
And we’re not alone. Launch SA, Velocity TX, UTSA’s Center for Innovation, Technology and Entrepreneurship, and the City of San Antonio provide entrepreneurs early-stage support through their programing. Trinity University and other local colleges, even high schools, have thriving entrepreneurship departments. We have also seen growth in startup funding with the presence of the Geekdom Fund, Active Capital, MGV Capital, HOLT Ventures, and Alamo Angels.
Calling all Builders
San Antonio has made great strides, but there is still a gap in the bridge over the valley of death. Geekdom is focused on filling that gap. Our mission is to build San Antonio one startup at a time. We want to help launch the city’s next 500 startups with at least 75% of them remaining here.
But, we can’t do it alone.
We need an accelerator partner that will help our local startups move beyond early-stage to maturity. San Antonio entrepreneurs need the focused, results-driven education, mentorship, and financing a premier accelerator provides. Graduates of top programs reach key milestones, such as, time it takes to raise venture capital, exit by acquisition, and gaining customer traction faster. (source) We’re looking for these kinds of results. Geekdom has joined the Global Accelerator Network with an eye toward attracting an established accelerator to San Antonio or creating our own.
We need your support. If you’re part of an accelerator, contact me. If you want to offer mentorship, resources or funding, contact me. Our entrepreneurs and our city need you.
Geekdom is a willing steward of San Antonio’s startup ecosystem. We have the physical space to offer. We see our eager, ever-growing startup community ready to cross the bridge into maturity . We want you to join us. Let’s build San Antonio together.
Charles Woodin, CEO