Startup ecosystems can be fragmented, competitive, and hidden to newcomers, which is detrimental for local startups and community growth. The Startup Ecosystem Canvas seeks to provide local entrepreneurs with a clear list of resources for every stage of their startup journey, and outline a basic framework for communities to map their ecosystem.
With applications for the Chicago Founder Institute now open, we are excited to release the Chicago Startup Ecosystem Canvas, which is currently in Draft v4 below! It was developed by the Chicago Founder Institute and local leader Jason Jacobsohn.
This is just a DRAFT, and more input is needed, so please leave your comments on this collaborative Google document to help us complete the list. There are definitely omissions on this current version.
Are you looking to build a startup in Chicago? Then apply to the Chicago Founder Institute today!
Startup Stages
There is no one right way to build a technology company, but for the sake of simplicity we have outlined a basic, common, sequential framework.
1. Idea Stage
This is where new entrepreneurs get inspired, learn best practices, develop skills, validate ideas, and begin to build their team and product.
A. Inspire
- Startup Media: Centralized local information, listings, and news. (i.e. startup blogs/ publications/ lists/ FB groups/ newsletters)
- Inspirational Events: Open, inclusive, beginner startup events (i.e. Startup Weekend, idea fairs, and inspirational meetups)
B. Educate
- Best Practices: Beginner knowledge-sharing events. (i.e. beginner events that serve to educate more than inspire, like Startup Founder 101, etc).
- Training & Feedback: Skill & Idea development. (Ex. bootcamps and comprehensive training programs, like Founder Institute, etc)
C. Validate
- Team Formation: Resources for teaming up. (i.e. events or other resources that facilitate early-stage recruitment and cofounder matching)
- Build First Product: Hackathons & resources to build. (i.e. hackathons and other builder-focused events and resources)
2. Launch Stage
In this stage, entrepreneurs establish and formalize the company, develop the product, get feedback from customers, and prepare for the next step.
A. Start
- Establish: Law firms & banks for startups
- AEGIS Professional Services
- BMO Harris Bank
- Bridgeview Bank
- Chase Bank
- Cole Sadkin LLC
- Fieldman Law Group
- Fizz Law
- Foley & Lardner
- Hershman Cohen
- Holland & Knight
- Horwood Marcus & Berk
- Howard & Howard Attorneys PLLC
- Katten Muchin Rosenman
- MB Financial Bank
- McGuire Woods
- Meyer Law
- Michael Best & Friedrich LLP
- Much Shelist
- Neal, Gerber & Eisenberg
- The Private Bank
- Silicon Valley Bank
- Square 1 Bank
- Synergy Law Group
- U.S. Bank
- Zeller Law
- Zulkie Partners LLC
- Workspace: Co-working and flexible workspaces (note: “official” office space goes in 3.1.a. Infrastructure)
B. Develop
- Formalize: Accounting, development and HR for early-stage startups.
- 1st Chicago Accounting
- 20spokes
- Adage Technologies
- AppDevy
- BUILTByBacksspace
- Caxy Code Creative
- Del Real Tax Group
- Doejo
- Early Growth Financial Services
- Eight Bit Studios
- Kohactive
- LaunchPad Lab
- Lauzen Accounting
- Marengo Hampshire Partners
- MWC Accounting
- O'Neal Consulting Chicago
- Ora Interactive
- Pasquesi Partners
- Sydcon
- Steel Croissant
- The Startup Accountant
- Vokal
- Prepare for Seed: Incubators and advanced mentorship. (i.e. advanced knowledge sharing, later stage events and resources)
C. Launch
- Seed Accelerators: Seed funding mentor programs (Techstars-style programs that provide funding)
- Pitch & Demo: Show local startups for investment (i.e. demo days for companies seeking seed investment)
3. Growth Stage
Here, a startup proves their utility, receives recognition, and scales up. This usually requires funding, angels, VCs, and ways to connect them to startups.
A. Recognition
- Investor Networking: Connect professional investors with founders. (i.e. events or groups that facilitate connections with professional investors )
- Major Media: Mainstream local business press. (i.e. major local or regional publications that frequently champion local businesses)
B. Funding
- Micro-VCs: Seed-Stage Investors
- Venture Capitalists: Series A and beyond
- Adams Street Partners
- Alpha Capital Partners
- Apex Venture Partners
- Arch Venture Partners
- Baird Capital
- Batterson Venture Capital
- Chicago Ventures
- Edgewater Funds
- Essex Woodlands Health Ventures
- First Analysis Venture Capital
- Foundation Capital
- Founder Equity
- High Street Capital
- Hyde Park Venture Partners
- JK & B Capital
- Jump Capital
- MATH Venture Partners
- MK Capital
- OCA Ventures
- Origin Ventures
- Pritzker Group Venture Capital
- Trident Capital
- Waud Capital Partners
- Willis Stein and Partners
- Wind Point Partners
- Wynnchurch Capital
C. Growth
- Infrastructure: Office space, HR, local business insurance. (i.e. office space/ HR/ insurance providers for capital-rich companies to grow and scale)
- Startup Scaling: Growth accelerators/consultants. (i.e. programs and business consultants for capital-rich companies to grow and scale)
4. Success Stories
Successful homegrown companies that have raised significant institutional funding, employ a large workforce, or have achieved liquidity.
- Avant
- Basecamp
- BenchPrep
- Blinkfire Analytics
- Braintree
- Cameo
- CareerBuilder
- Cars.com
- Classkick
- comScore
- Dose
- Fooda
- FourKites
- Groupon
- GrubHub
- Gogo
- InContext Solutions
- Inventables
- Morningstar
- Ocient
- ParkWhiz
- Power Reviews
- project44
- Raise
- Redbox
- Retrofit
- Risk I/O
- Rocketmiles
- Scout
- Snapsheet
- SpotHero
- SproutSocial
- Stats LLC
- TempoIQ
- Trunk Club
- Uptake
- YCharts
- Yello
Supporters
To facilitate the steps, every ecosystem needs strong supporters.
1. Evangelists
Successful local founders who lead the ecosystem & frequently mentor newbies. (i.e. Local leaders who have taken a leadership position, speak at a lot of startup events, mentor all the programs, etc)
- Adam Siegel
- Ajay Patel
- Alex Campbell
- Ashish Rangnekar
- Bart Carlson
- Brian Busche
- Carlo Navarro
- Charles Kwon
- Colleen Egan
- Cory Warfield
- David Culver
- David Douglas
- Desiree Vargas Wrigley
- Donata Kalnenaite, Esq.
- Elly Deutch
- Emerson Spartz
- Eric Broughton
- Ethan Austin
- Gary Silverman
- George Deeb
- Hala Hemayssi
- James Michelson
- Jason Fried
- Jason Green
- Jason Jacobsohn
- Jason Rubinstein
- Jason Weingarten
- J.B. Pritzker
- Jeff Hoffman
- Jeff Hyman
- Jeff Judge
- Jeff Lyons
- Jeff Maier
- Jeff Weber
- Jessica Zweig
- Joe Abraham
- Joe Born
- Joe Dwyer
- John R Dallas Jr
- Kelly Fitzsimmons
- Kevin Taylor
- Lauren Katzberg
- Lina Pakrosnyte
- Louis Morales
- Mark Achler
- Mark Lawrence
- Mark Pickett
- Matt Moog
- Michael Carruth
- Michael Kramer
- Michael McCoy
- Neil Kane
- Pam Krengel
- Patricia Riskind
- Patrick Tannous
- Peter Tapling
- Rajesh Voddiraju
- Reva Minkoff
- Ronald Franczyk
- Ross Kimbarovsky
- Seth Kravitz
- Steven Jones
- Tom Denison
- Troy Henikoff
- Tyler Travitz
- William Furlong
2. Government
Public organizations that facilitate local economic development
- Chicagoland Chamber of Commerce
- Hyde Park Chamber of Commerce
- Illinois Chamber of Commerce
- Illinois Department of Commerce & Economic Opportunity
- MBDA Business Centers
- Oak Park Economic Development Corporation
- World Business Chicago
- WorldChicago Tech Fellowship Program
3. Talent
Major local business or tech universities and employers that attract and retain local talent.
-
Local Universities (universities with prominent technical or business programs)
- Local Employers (Major technical employers with large local offices)
Learn more about theStartup Ecosystem Canvas here, and leave us your thoughts on the Chicago Canvas on this collaborative Google document (This is just a DRAFT, and more input is needed!)
Are you looking to build a startup in Chicago? Then apply to the Chicago Founder Institute today
