Great post this morning on Techvibes asking “Does your city have the 5 things necessary for a Local Startup Ecosystem?” The five necessities were social density, great workspaces, events, proximity to money, and creative diversity. I think this was bang on and is definitely something many passionate people (myself included) here in Edmonton are working on through initiatives like Startup Edmonton, artsScene Edmonton, ENTS, Democamp and more. We’ve still got a way to go, but if we can get everyone working towards a common vision for a great startup ecosystem in Edmonton, we’re on our way.

Social Density – The success we’ve had with our startup has been the result of having a solid supporting network of peers and mentors that have provided us with the guidance, experience, and honest feedback that every entrepreneur needs to have around them. But for us, that network has composed primary of people outside of Edmonton – people I’ve met in other cities and through conferences. I’m starting to meet more entrepreneurs in town (which is awesome), but I think what we still need are more local mentors who have the (relevant) experience we can all draw from. Note: we’re working to get more of these kinds of mentors up to Edmonton through events like Startup Weekend and Startup School.

Great Workspaces – While we have a great quality of life in Edmonton, we’ve definitely a ways to go here. We have a lot of sprawl and people all over the place. Incubators are good (and we have a lot of those), but they’re also an expense that most early stage startups (like most of the ones we have in Edmonton) can’t afford yet. Having more common spaces where we can gather and share experiences the better. I love the idea of Bootup Labs in Vancouver, an accelerator that houses 6-8 startup companies every few months where the focus is on growing entrepreneurs and companies who work in close proximity to each other. We need more places like that in high density areas (like downtown).

Events – Anchoring the community through events and interaction is key. We’ve got things like Democamp, Tweetups, and new events we’re working on like Startup Weekend, Founders and Funders, GameCamp, and Launch Parties. In LA and SF, there’s a least 3-4 events a week! The more of startup focused events we have happening in Edmonton, the better. (Note to all event organizers – enter your stuff into sites like ShareEdmonton so we can better coordinate dates)

Proximity to money - This is definitely an important one. I wouldn’t say we have a lack of money and investors in Edmonton. I’ve pitched them along with investors in Vancouver, San Francisco, Seattle and LA (we’re a content/entertainment focused startup after all). It’s a matter of finding the right fit between our generation of entrepreneurs and investors. Cool technology is one thing. But real companies are built around products that people will actually buy and use. Investors invest in good ideas with traction, bolstered with extraordinary people at the helm. You’ve got to be investable if you want an investor. The bottom line: We need more wins, more entrepreneurs, and more visibility for our startups in Edmonton to show that we have a startup community worth investing in (from within and beyond).

Creative diversity - This is exactly why I’m personally invested in growing next gen initiatives like artsScene Edmonton and TEDx Edmonton, and trying to mix the traditionally isolated groups of creatives, entrepreneurs and technology people. It’s about more than just getting people to experience and be inspired by the arts. We’re lucky in Edmonton to already have a thriving arts and culture scene. It’s a matter of harnessing Edmonton’s creative energy into the development of new products, technologies and companies that can compete in the global creative economy. The more that creative entrepreneurs experience financial success, the more resources they’ll have to reinvest in our creative community, and the cycle will continue.

So what will it take to get us Edmonton’s startup ecosystem going? Everyone argues for better government incentives and more educated investors. While those things definitely can influence how things come together, I believe it comes down to us as a grassroots community of entrepreneurs. Entrepreneurs who have the unstoppable will and passion to create great companies, who are able to produce innovative products that people around the world will actually buy and use, and who have the commitment to support each other towards making Edmonton’s startup ecosystem great.

Who’s with me?