The Boston Entrepreneurship Ecosystem
David Chang, the Director of the Babson College Summer Venture Program, recently lead a talk about his experience navigating the Boston Entrepreneurship Ecosystem.
Learning About the Boston Ecosystem with David Chang
So who exactly is David? He’s an “accidental entrepreneur.”
Originally attending Cornell’s School of Engineering, David never imagined that he would step foot into the business realm. However, after a few classes and working with Oracle directly out of college, he found himself drawn towards the startup world. Since then, has worked with countless startups like Edocs, Siebel, Verisign, and even some familiar names like Paypal and Trip Advsior. He’s a knowledgable man and has imparted a bit of wisdom on the new Summer Venture Program participants. Here are some of the key takeaways from his talk:
- Ideas alone are worthless
It’s hard to run a business alone. You may have a brilliant, million-dollar idea, but have no one to help you make that idea a reality. Work with other people. Often times entrepreneurs are so afraid that someone will “steal” their idea, that they refrain from sharing it with the people who could help them complete their mission—this only stunts your businesses growth and ability to succeed. The bonds you make with the people you work with will most likely outlast the business idea itself. Take the time to foster relationships with those around you and know your strengths as a business person, recognize who you need to balance out those weaknesses.
- Connect, connect, connect, and then connect some more
As students we have the ability to connect and learn from others without people thinking we are just trying to forward our own agenda. Take advantage of this. Use your school email to reach out to experts and ask them questions. Seek mentors now. Your network is only as powerful as you make it, so be sure to utilize it.
- What does the Boston Entrepreneurship Ecosystem comprise of?
Universities, investors, accelerators/incubators, co-working spaces, local pillar tech companies, the media, networking events, and so much more.
Boston is such a rich environment for booming businesses. Participating in accelerator programs, signing up for networking events, and reading the local news, are all ways to get involved in the Boston ecosystem. Stay updated, connected, and always be on the lookout for a way to get your foot in the door.
The talk concluded with some few tips on how to be a successful entrepreneur. David focused on the importance of doing small iterations over a long period of time in order to enact substantial and positive change to your business. He exclaimed that being an entrepreneur is like riding an ongoing roller-coaster. You will hit your lows and failures, but learning how to move on from these failures is incredibly valuable.