10 The TEP Times | Fall 2014
#TEP2014
TEP 2011-2013 Results: What We’ve Learned
T
here is a collective intelligence
born from conferences that bring
together some of the best and
brightest minds of the entrepreneurial
communities in the US and Germany.
Ideas crystalize, hunches coalesce; this
kind of multiplying effect of intelligence
has been the central goal of the TEP conferences.
In October 2012, in the midst of
Superstorm Sandy, at the city’s only open
conference facility, The University Club,
some 40 leaders in the space met to discuss entrepreneurship. This became the
basis for TEP and was expanded during
the 2013 TEP conference. Here is a summary of the results as well as the pre-conference study we conducted.
Attendees agreed that uncertainty often overshadowed opportunities for innovation in the business community.
However, they recognized that innovation was the only way forward in the age
of globalization.
Here are the 7 key findings from
the past conferences:
1. A Truism that is Still True: The
World is Fundamentally Changing. “The
democratization of entrepreneurship is a
phenomenon we haven’t seen since the 90’s,
when everything still cost a lot of money.”
2. There Are More Opportunities Than
Challenges. Although challenges remain
for leveraging the full potential of digital
transition in both cities, all participants
pointed to the tremendous opportuni-
Developed in 2012: Overview of key strengths,
weaknesses, challenges and opportunities
Strengths
Opportunities
• Urban hubs attract talent and ideas
• Clear strategic priority and access to
capital and a large consumer market
(NYC)
• Pool of talented engineers and
consumer experience designers
(Berlin)
• Access to European markets, including Central Eastern European talent
(Berlin)
• High transparency, but important
networks
• Close cooperation with academic institutions
• Berlin startups with clear global focus
• Cost of living (Berlin)
• “Convener power” of some city institutions
• Strategically think about what a
“super-easy” expansion across the
Atlantic would look for tech companies: workshop and discussion
series
• Begin the expansion across the
Atlantic by starting at home
• Cost and incentives are not driving
factors in the beginning
• Strategic cooperation has already
started
Weaknesses
• Federal regulations not always aligned
with the needs of cities
• High cost of living, especially housing
(NYC)
• Track record of successful ventures
and returns still limited; no role models (Berlin)
Challenges
• Europe is not a single market for tech
companies; legal and language conditions will not change soon
• Networks are important, but take
time to build
• Engineering talents are becoming
harder to get and retain
• Regulatory environment: Immigration and visas and labor law
• Convince decision-makers that the
economic dimension of the tech/
startup sector is likely to grow and
have broader implications for citizens
(Berlin)
For the full version see: http://tep.nyintl.net/TEPC2013_prep_paper.pdf
ties that exist in both New York City and
Berlin.
3. Key to Initial Success: People, Ideas,
and Execution over Money and Politics.
“Berlin and New York are attractive because of their non-economic aspects.”
4. Key to Continued Success: The
Important Integration of Strategy, Policy
and Communication. Interviewees pointed to New York City’s efforts to promote
the city as a digital hub. Representatives
of global foreign firms mentioned these
efforts as an important reason to open an
office in the city.
5. You’d Better Be in Berlin and New
York. “Berlin is two years behind London
and even more behind New York. But
Berlin might be even more promising than
New York.”
6. A Lesson for Germans from Ameri
cans: Support People Who Try, Even If
They Fail. "Key philosophies of the startup
ethos seem unknown in Germany. For
instance, failure is still hard to accept in
German business and law.
7. Immigration is a Key Challenge. New
York and Berlin both struggle with federal
regulations that do not support the needs
of digital ventures.
Early pre-conference feedback from attendees suggests that the climate for startups in both Berlin and New York has improved since the first conference in 2011.
City leaders now have seen the value of
startups as economic and social engines. It
will be fascinating to see what entrepreneurs
at this conference feel are the new rules of
the road for startups in 2014 and beyond.
Any conference in New York requires the support of outstanding partners.
The TEP Conference 2014 is privileged to work with some of the best partners in New York, Berlin and beyond.
Part-financed by the EUROPEAN UNION
European Regional Development Fund
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