Generally speaking, the odds are stacked heavily against the average startup. The rate of failure among entrepreneurs and startups is startlingly high — it comes with the territory. Otherwise, entrepreneurs wouldn’t be pirates.
But, what if there were a way to reduce that failure rate by cracking the formula of startup success? No easy feat to map the double helix of startups, but entrepreneurs are risk-takers by nature, so four of these risk-loving international entrepreneurs came together to found the Startup Genome Report, a report that is part of a larger project that dives into the very anatomy of what makes Silicon Valley startups successful — or not.
The entrepreneurs who founded the Startup Genome report (Bjoern Herrmann and Max Marmer), have also created a business accelerator called Blackbox, which will be leveraging the data they have collected (and will collect) from their ambitious R&D enterprise. The Startup Genome Report, as it is today, is a 67 page analysis on data collected from 650+ web startups.
The entrepreneurs recruited both UC Berkeley and Stanford faculty members, like Steve Blank, the Sandbox Network team, the Startup Bootcamp team, and the Pollenizer team, to help coauthor and contribute to the study. The goal of the report is to lay the foundation for a new framework for assessing startups more effectively by measuring the thresholds and milestones of development that Internet startups move through.
Blackbox, which was co-founded by techVenture and other organizations that have a track record of working with 100+ startups, including 15 exits (such as Bebo, Tapulous & Lala), hopes to use the Startup Genome Report as a cipher to help crack the innovation code, and give fledgling entrepreneurs and startups from around the world access to the characteristics and qualities that make Silicon Valley companies successful.
Here are 14 of the most interesting trends identified by the Startup Genome Report, some of which are intuitive and some of which may come as a surprise. Among them? Investors may be less help than they think. Take a look:
If you’re interested in learning more, detailed analysis of each of these points can be found in the full Startup Genome Report.
The team is also introducing a new survey that aims to help entrepreneurs understand the stage their startup is in and gives them personalized tips and advice for what to focus on based on data from the research project. The more data the project collects, the more accurate its conclusions become, and the more entrepreneurs and their startups can benefit from that knowledge, so check it out here.
Silicon Valley global seed-stage accelerator focused on helping non-US startups. Custom tailored acceleration programs provide intensive individual support to highly selected startups from all around the globe. No batches, no application deadlines, just continous support. Blackbox was founded in 2010 by Fadi Bishara. Fadi has in-depth knowledge and experience related to building successful startups in Silicon Valley and elsewhere in the world. For over 17 years, he has been successfully matching human capital and venture capital needs around the globe, guiding...
The goal of the project is extremely ambitious - to map, model and analyze what makes startups tick, what helps them succeed and why many of them fail. The team is hoping that the insights generated through this project will create useful tools for increasing success rates of startups during their initial growth periods, as well as will shed light on interesting phenomena and pitfalls so that startups can be more efficient. The team laid the foundation for the Startup...