Things we learned at our summer party, Part 1
Last month we held a summer party for people who are active in the Norwich start-up scene. Partly to say thank you for the (usually unsung) effort they put in, but also to try to get a read on the mood of the community.
We ran three collaborative design exercises at the back of the venue. The first was a ‘state-of-the-nation’ exercise, taking stock of the Norwich start-up scene as it is today. I’ll summarise that in this post.
The second focused on the ‘needs and wants’ of the start-up ecosystem and where investment should be made. The third was more about the behaviours and activities that entrepreneurs need to exhibit to make their own contribution. More on these two in later posts.
The Start-up Pushmi-Pullyu
The first exercise was called the Start-up Pushmi-Pullyu. A Post-It note brain-dump of things that are holding us back and things that are helping us move forward. We ended up with about 70 contributions to this. Here’s my summary:
What’s holding us back?
Funding shortage: Growth is being stifled due to the lack of accessible funding and venture capital. Public investments are being directed elsewhere in the county, outside of Norwich.
Inadequate infrastructure: Limited affordable and flexible workspaces and a lack of resources for start-ups hinder the ability to grow and scale businesses locally.
Weak support networks: Insufficient industry support, mentoring, and skills development are leaving entrepreneurs without the guidance they need.
Talent drain: The belief that success requires moving to bigger cities, coupled with a loss of graduates and companies leaving to scale, is depleting the local talent pool.
Cultural and mindset issues: Issues like imposter syndrome, low confidence, and a lack of belief due are holding back potential founders.
Difficulty in building momentum: The challenge of reaching critical mass and the absence of a strong success narrative in the city make it hard to gain and maintain momentum.
What’s moving us forward?
Strong community and collaborative spirit: The close-knit, passionate community in Norwich is a significant driving force, with a focus on collaboration over competition and a shared belief that “rising tides raise all ships.”
Active and supportive networks: Robust networks like Sync, NorDev, and Hot Source are connecting people, fostering collaboration, and amplifying the community’s voice, creating a supportive environment for start-ups.
Growing infrastructure and resources: The increasing number of collaborative workspaces like Akcela are providing infrastructure and resources for start-up growth.
Event-driven momentum: High-profile events like SynctheCity, pitching events, and interdisciplinary gatherings are creating connections and driving momentum within the start-up scene.
Positive local environment: The relatively low cost of living and the attractiveness of Norwich as a place to live means the city is drawing in talent.
Can-do attitude and local pride: The community’s “can-do” attitude instils a sense of pride and optimism that propels the start-up ecosystem forward
Draw your own conclusions, but we were pleased to see that the things holding us back seem fixable – with focus, resources and good communication.
Perhaps more importantly, most of things driving us forward are ‘money-can’t-buy’ attributes of the Norwich ecosystem. The strength of informal communities and networks, the lively events scene, plus the quality of life and work here in the Norwich are things that few other cities have.
It feels like these will have an amplifying effect on the economic impact if we can get more structured investment into the start-up ecosystem.