In the past few weeks we have been exposed to a mix of start ups, global companies, venture capitalists, angel investors and numerous examples of brands, technologies and developments that have emerged from the Northeastern seaboard. Despite this influx, some random trivia has stuck in my mind.
Population of Boston 645k, population of Massachusetts 6 million.
It has rapidly become apparent that this city and state punches well above its weight.
Whilst Scotland boasts a similar scale and a rich culture of discovery and innovation we often fall short at the final hurdle of commercialising this and reaping the fruits of our labors effectively. Below I have noted 5 pointers that may help us to replicate this ‘winning formula’ in Scotland
Rising early - Business meetings and networking events start at 6.30 or 7.00am, armed with a strong coffee Boston starts early. People driven by the desire to succeed, inspire and share open up their minds while the rest of the world is asleep. There is a crispness and intent in these early morning exchanges. Participants have the resolve to make the most of them given they compete with valuable duvet time.
Celebrate smart - With Harvard, MIT and Babson in the vicinity there is no lack of polished and highly educated business brains, but somehow it goes a little further, there is a buzz here around innovating, business is not solely the domain of Harvard grads and men in suits. Coffee shops are awash with caffeine fuelled start ups and college kids with Zuckerbergesque ambition. Innovation is happening on the fringes everywhere you look; great institutions open their doors to feed on the energy with daily events and open discussions.
Ecosystems - Success feeds on success here, infrastructures emerge to ensure that the most innovative ideas can survive. One great example is the Mass Challenge a call to world to bring its bright ideas to this cradle of innovation to nurture and grow them. The beauty of the Mass challenge lies in the diversity of ideas. Finalists encompass clean tech, high tech and social enterprises to custom fit bras and retractable high heels. Our hope is that in the coming years a Saltire ecosystem will emerge that can reinvigorate the Scottish business world with our Global outlook and desire to invest, inspire and succeed and that models such as these can be replicated back home. http://www.masschallenge.org/
Intentionality - When networking, people unabashedly have clear agendas – from the start up entrepreneur who needs 400k investment to the MBA graduate looking to buy out a company. At first it’s a little disarming – us Scots aren’t so good at being direct about exactly what we want, perhaps for fear of judgement or seeming ‘too ambitious’. On reflection this approach makes life simpler, goals can be achieved in a more effective and timely fashion. Ambition here doesn’t seem to have an upper limit.
Look outwards – As a historical trading port Boston has always set its sights over the Atlantic into the possibilities beyond. It would have been easy to rest on its laurels and wealth of traditional industries. This outward perspective imbues Boston with an intrepid spirit and lust for adventure. It has taken industries like pharmaceuticals and appropriated them as their own. Debate rages on over whether the next new media or communications game changer will come from Silicon Valley or Route 128 in Massachusetts and whether it will be a David or a Goliath who strikes the next blow. Given the caffeine consumption and the early starts I’d be inclined to choose Boston, however, I wouldn’t rule out another smart and innovative country just across the water and a wee bit north ….
Great post, Joanne, my alarm clock is already set!