UCD Innovation Academy Team Start Up Ireland Report14Nov FINAL

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UCD Innovation Academy student team report on the Irish startup ecosystem
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    Team Start Up Ireland #thebestplacetostart 14 November 2013 UCD INNOVATION ACADEMY  14 November 2013 #THEBESTPLACETOSTART page 2 BACKGROUND 3   T OP 5   S TARTUP E COSYSTEMS AS REPORTED BY THE S TARTUP G ENOME R  EPORT  4   EXECUTIVE SUMMARY 4   CRITICAL ANALYSIS OF REPORT 5   R  ESEARCH ON I RELAND ’ S S TARTUP E COSYSTEM  6   F IGURE 1   B USINESS C ONFIDENCE I NDEX FOR I RELAND (J ANUARY 2011  TO O CTOBER 2012) 7   SWOT   A NALYSIS  9   RECOMMENDATIONS ERROR! BOOKMARK NOT DEFINED.   CONCLUSION ERROR! BOOKMARK NOT DEFINED.   APPENDIX 11   A PPENDICES 1   I NTERVIEW T EMPLATE  11   A PPENDICES 2   I NTERVIEW WITH M ARK K  EARNS ,   G ARY L EYDEN ,   E OIN C OSTELLOE &   S ARAH O’F ARRELL  11   A PPENDICES 3   -   I NTERVIEW WITH ,   S EAN O’S ULLIVAN ,   CEO   R  OCOCO S OFTWARE  13   A PPENDICES 4   I NTERVIEW NOTES FROM CEO   K ATE H YDE OF WWW . HENPARTY . IE  15   APPENDICES   5   –   T WITTER S URVEY M ONKEY  17    14 November 2013 #THEBESTPLACETOSTART page 3 Background Start up Ireland is a recently formed organization, which was created to gather data and map Ireland‟s start up system. It was born from a desire to understand the true state of Ireland‟s startup ecosystem and to separate the fact from the fiction. Whilst there is much media coverage in Ireland of startups, in particular of the technology sector; the 2012 Start Up Genome Report did not mention Ireland in it ‟s publication of the Top 20 Startup ecosystems worldwide. The Startup Genome report which was sponsored by Telefonica Digital, presented research gathered from 50,000 startups and compared and contrasted 20 of the world‟s startup ecosystems. This report considered itself the most complete research conducted on the status and nature of global startup ecosystems. This project‟s brief was to critically analyse the report, inter view key stakeholders working in the area and propose an imaginative way of encouraging start ups in Ireland to register their details on the crunch database (www.crunchbase.com)  , Start Up Ireland‟s preferred database. This project took six weeks to complete and was authored by Ciara Garvan, Georgina Naughton, Kresimir Stefko, Patrick McDonnell, Tosin Popoola.  14 November 2013 #THEBESTPLACETOSTART page 4 Top 5 Startup Ecosystems as reported by the Startup Genome Report 1  Executive Summary This project has five separate strands; 1.   Critical Analysis of report 2.   Research of Ireland‟s start up system, interviews and surveys 3.   Distillation of views as included in this report 4.   Brainstorming to create solutions on how to promote Ireland as #thebestplacetostart. 5.   Production of video & online campaign 1  2012 Start Up Genome Report sponsored by Telefonica Digital http://blog.startupcompass.co/the-startup-ecosystem-report-2012-is-live    Silicon Valley ã Silicon Valley is by far the biggest, most important and influential startup ecosystem to which all other ecosystems look up to. Silicon Valley‟s total output of startups sets the baseline to which all other ecosystems are compared. Although a staggering number of startup ecosystems have been established around the world, Silicon Valley remains top of list in all dimensions. Tel Aviv ã In the Startup Ecosystem Index, Tel Aviv ranks second globally, because it has the second highest output index of startups with a healthy funnel of startups across the developmental lifecycle, a highly developed funding ecosystem, a strong entrepreneurial culture, a vibrant support ecosystem and a plentiful supply of talent. Los Angeles ã Los Angeles has long been overshadowed by Silicon Valley in terms of high-growth technology startups. The domination of Los Angeles by Hollywood and associated industries has also made it difficult for startups to shine. However the LA startup ecosystem is gaining increasing momentum and now ranks third globally. Although the ecosystem has 70% less startups than Silicon Valley, it has a healthy funnel of startups moving through the startup lifecycle. The report claims is a healthy opportunity for LA to establish itself as an alternative to Silicon Valley. New York City ã New York has established itself as a serious alternative to SV for startups in the consumer space and those focusing on e-commerce, advertising, media and fashion. However, it has long way to go to truly catch up with SV, with about the half number of startups as SV. It has the highest numbers of female tech entrepeneurs at 18%. Boston ã Boston has lost its position as frontrunner on the east coast to NYC. Although it has a well-established angel and venture capital scene, Boston creates 79% fewer startups than SV. The Boston startup ecosystem is significantly smaller than SV but it has a healthy funnel of startups throughout the Startup Lifecycle. It can be considered a serious alternative to SV.
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