Hampton Roads Techstars Partnership: Boosting Startup Ecosystem

Hampton Roads is partnering with global accelerator Techstars as it works to take its startup ecosystem to the next level.

The area, which encompasses the metropolitan areas of Virginia Beach, Norfolk and Newport News, as well as the surrounding micropolitan, was recently chosen as the next stop for Techstars’ Ecosystem Development Group.

Techstars, founded in Boulder, Colorado, in 2006 as a community building initiative, is best-known for its intensive accelerator programs. The Techstars Economic Development Group was created last year and is an initiative that works closely with a community’s government stakeholders, community leaders and influencers to learn about and grow that community’s startup ecosystem.

Objectives and Progress

Ian Hathaway, senior director at Techstars, said the initiative is a one-year engagement with a three-fold objective: complete an assessment of the region, do discovery and engagement of the startup ecosystem and provide access to resources.

“[The Ecosystem Development Group] is basically in response to communities around the world reaching out for years asking for our help,” Hathaway said. “They tell us, ‘We need help in getting things going,’ or ‘We’ve got stuff going on, but it’s not in an integrated, systemic way.'”

The program kicked off in Louisville, Kentucky last year and Hathaway said they’ve since completed work in Buffalo, New York, and have an on-going presence in Taipei, Taiwan.

“Each situation has been different in terms of how the cities were chosen. Through evolving conversations, there was a feeling that what we do could be beneficial,” he said. “There are obviously common threads, but the priorities will vary. In general, the goal is to increase participation and access in the startup community.”

Hathaway said the assessment, a critical component of the initiative, is already underway and should be published in March or April. They’re also hiring a program director, someone already engaged in the Hampton Roads ecosystem who can not only lead the effort now but continue to move the needle forward once Techstars’ work is complete.

“Our strong preference is to get someone who knows the local community to drive that engagement,” he said. “There will be a lot of discovery with a heavy emphasis on founders, locating those individuals and building relationships. Our goal is not to compete with, but to be additive to what already exists here.”

Integration with Richmond

Another thing Hathaway said he hopes the initiative will accomplish is helping Hampton Roads to more closely integrate with the Richmond startup ecosystem. He said that the more aggregation these two startup communities experience, the better they’ll both be.

“My hope is that what’s happening becomes a tighter integrations between Hampton Roads and Richmond,” he said. “One mistake regions make is that they play zero-sum games. They don’t see the bigger picture, which is being able to exist within a larger economic system.”

Question & Answer

What is the objective of the partnership between Hampton Roads and Techstars?

The objective of the partnership is to elevate the startup ecosystem in the Virginia Beach, Norfolk, and Newport News metropolitan areas by completing an assessment of the region, engaging with the startup ecosystem, and providing access to resources.

Who is leading the initiative from Techstars’ side?

Ian Hathaway, the Senior Director at Techstars, is leading the initiative in partnership with the local government stakeholders, community leaders, and influencers.

When is the assessment of the region expected to be published?

The assessment of the region is already underway and is expected to be published in late spring, around March or April.

What is Techstars looking for in a program director for the initiative?

Techstars is looking to hire a program director from the local community who is already engaged in the Hampton Roads ecosystem. This individual will lead the effort and continue to progress the initiative after Techstars’ work is complete.

What is the hope for integration between Hampton Roads and Richmond’s startup ecosystems?

The hope is to create a tighter integration between Hampton Roads and Richmond’s startup ecosystems, aiming to benefit both communities by existing within a larger economic system.