Chris Heivly takes a second turn at explaining why accelerators are not an economic development tool
For more than 30 years, Heivly has worked at the highest levels for some of the world's most recognized brands, including MapQuest, Rand McNally, and Accenture.
Just a few days after we posted this article in late February with the headline “Techstars taking some public relations heat for changes it is making,” Chris Heivly wrote his initial blog post with the intriguing headline “The Fallacy of Techstars As An Economic Development Tool.”
The Durham, NC resident is one of the nation’s leading experts in how to turn start-ups into multimillion-dollar companies and has been dubbed the “Start-up Whisperer.” For more than 30 years, Heivly has worked at the highest levels for some of the world’s most recognized brands, including MapQuest, Rand McNally, and Accenture. He has also personally directed over $75 million in investment capital on behalf of these and other companies. Heivly currently serves as one of two managing directors of The Startup Factory, the largest seed investment firm in the Southeast.
Last week Heivly published a sequel, “kinda” in his words. It is titled “The Accelerator as an Economic Development Tool (Part 2 kinda).” In the follow-up, he wrote, “A few months ago, I shared some thoughts on the accelerator strategy change at Techstars and its economic impact for regions not called New York, London, San Francisco, and Berlin. This has sparked more conversation than just about any post I have written. Ever. (The lesson for me is that what I know is not what others know – hence keep writing about what I see and hear. Duh.) Let me dig in a little deeper for those that care about growing a robust start-up community and the role that an accelerator (not just a Techstars accelerator) can and should play in your city or region.”
Heivly concludes is second blog post with these insights: “Growing your start-up community and entrepreneurial ecosystem is a complex process. There are many elements to growth and they all work differently in different regions. But there is never ‘the one thing’ you must have to really propel your region forward. Like an accelerator.”
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