A Venture That Advocates for More Accessible, Visible, and Inclusive Entrepreneurship Ecosystems
What if there was a tool designed to help entrepreneurs access the resources they need? Meet David Ponraj of Startup Space. He started the company a year and a half ago with hopes to not only connect entrepreneurs with resources, but to create virtual communities with 24/7 access to local resources. Startup Space is all about connecting people to the resources they need to be better business leaders, ecosystem builders, and innovative problem solvers.
In 2003, David received his bachelor’s degree in physics from his native country of India. Shortly thereafter, he moved to the United States where he was told he needed additional education to have his bachelor’s degree federally recognized. Unsure of how to proceed or what degree to work towards next, David turned to his childhood. David’s family, which he describes as “very traditional community builders,” have spent 30+ years working with and revitalizing tribes and villages in rural India. He realized that working with others was one of his strengths, so he decided to change his career path entirely and apply for a business degree program. In 2005, David began working toward a degree in international business, and by 2015, he had finished both his bachelor’s and master’s degrees from St. Petersburg College and the University of South Florida respectively.
During this time period, David also began his entrepreneurial journey and founded Rural Handicraft Company (RHC). RHC was an import and export company specializing in textiles and handmade products. This was a social enterprise that worked with underserved women in tribal villages to train and equip them with the needed tools to be able to earn a fair wage to support their families. This was an empowerment movement that transformed the tribal villages and gave these women a voice and an income that changed their lives forever.
Unfortunately, after trying for 4 years to make the business self-sustaining, David had to close it down. The women were placed in local jobs so they could continue to support their families and David went to work in corporate America for The Nielsen Company.
“If I had the tools, resources, and community that Startup Space offers, I have no doubt that RHC would have been successful.”
David worked for Nielsen for seven years, but in 2018, he could no longer ignore his entrepreneurial calling. He quit his corporate job to launch Startup Space, a platform that helps entrepreneurs find local resources and connect with their entrepreneurship ecosystem. Startup Space provides entrepreneurs with tools and resources to start faster while providing clients, such as ecosystem builders and economic development organizations, with the data they need to show impact and provide support. Although Startup Space has only been in business for 20 months, they are forging connections in 150 cities. Their team has worked with local communities to map and provide 3,400 resources for entrepreneurs, but the storytelling and ability to showcase local impact is the most important aspect of what they do. Startup Space is free for all entrepreneurs with over 12,000+ users and growing.
The idea for Startup Space evolved from the needs David encountered when operating RHC and the struggles every entrepreneur faces of not knowing who and where to ask for help.
“Our partnerships with community organizations across the country enable partners to connect with local businesses across the entire spectrum, from home-based businesses to startups with resources and support services, to help entrepreneurs build and grow their businesses faster and with greater success… If I had the tools, resources, and community that Startup Space offers, I have no doubt that RHC would have been successful,” says David.
What David believes is missing is the infrastructure that connects all entrepreneurs to all resources in their community while simultaneously eliminating barriers to entry. Startup Space sees itself as the plumbing of an ecosystem. We all know how necessary plumbing is - it’s part of the infrastructure in which we build our homes, neighborhoods, and communities. Startup Space is systematically and cooperatively building that infrastructure for entrepreneurial ecosystems.
By utilizing the data collected within communities, Startup Space provides important metrics for community organizers to review local programming and opportunities. The tool also works with key partners to identify the resources their entrepreneurs need to build wealth for themselves and their communities.
Startup Space measures and collects the metrics that matter most to the communities they serve. Many areas need robust reports on diversity and inclusion metrics to ensure the work is representative of all the entrepreneurs within their region, not just some of them. For example, in some communities, Startup Space is helping organizers identify the greater need for specific support and programming for LGBTQIA+ entrepreneurs and entrepreneurs of color. By mapping this information, local organizations can apply for grants and other funding options to increase the support available for underestimated entrepreneurs within their region. These metrics also help community organizers shape policy and advocacy for entrepreneurship.
Kalen Acquisto, manager of The Commons on Champa in Denver, Colorado, had this to say about her work with Startup Space:
“Startup Space has allowed us to streamline processes and be more efficient at The Commons, Denver’s entrepreneurship and innovation hub. Events, ticket sales, mentorship, conference room bookings, marketing—you name it—all operate on the same platform now! This has improved processes, but also aggregated all data on 1 platform for accuracy and ease. The greater Denver entrepreneurial community has found great value in Startup Space as they are now able to access mentors, service providers, investors, and fellow community risk-takers 24/7 with the resource compass and live Q + A portal. This furthers our mission to provide entrepreneurial resources with zero barriers to entry, ultimately making business more inclusive and representative of our diverse community.”
What does ecosystem-building mean to Startup Space?
David believes that building an ecosystem is all about providing support and helping make the startup process for entrepreneurship easier. Despite the abundance of resources, it’s extremely hard to start a sustainable business. After working with hundreds of founders, Startup Space knows firsthand how difficult it is to balance a new business with the challenges of everyday life.
Startup Space believes that the first two years of a new business’s life cycle are the most crucial—not only for monetary success and the overall growth of the company but also the well-being of the people within the company. David calls this the “happiness quotient.” For example, one day an entrepreneur is thinking that whatever they’re doing is a great billion-dollar strategy. The next day (or even the next hour), that same entrepreneur is terrified that they’ll go bankrupt. Rapidly moving between these extremes can wear down even the most resilient of entrepreneurs.
“There’s a huge need for thoughtful ecosystem-building because it is how entrepreneurial communities thrive. A first-time entrepreneur needs resources and people. They need a very practical, hands-on approach to getting entrepreneurship access and experiences needed to build and scale fast,” David says.
That’s why Startup Space partners with local organizations within these ecosystems. Amanda Kelly, the Small Business Training Director of the Southeast Kentucky Economic Development Corporation, had this to say regarding their work with Startup Space:
“Be Boss Online began partnering with Startup Space during a pivotal shift in our business model. We knew where we wanted to get to but were unsure how to make it happen. Startup Space was there, helping us find solutions, answering questions, and even adding options to their platform to help Be Boss Online. Every time I have reached out to the Startup Space team, they are there—ready, willing and able to help. I can think of no better partner to work with.”
Why David loves SCN
David is inspired by being in a community of practitioners and sharing best practices with one another, which is why he values his SCN membership so much.
“I use this as a place to learn and talk to like-minded individuals,” he says. “With the partnership of SCN, I can identify the resources in the network, identify what is missing in the network, and through the relationship built by the people in the network they will find out who and what resources to fill those gaps.”
Because of this, Startup Space is partnering with SCN to create a series of podcasts and webinars that highlight the incredible breadth of work undertaken by ecosystem builders across the country. The primary purpose of the content will help ecosystem builders create stronger and more vibrant communities while building smart and aligned connections.
Meg Steuer, manager of Forge North (Greater MSP, Minnesota), and fellow SCN member has been working with Startup Space over the past year and describes the experience as “incredible:”
“They have listened carefully to our needs and developed the platform to meet them. Startup Space now houses over 500 of our community’s resources and is driving increased connectivity, conversation, and collaboration.”
In closing, David believes that through his mission to help entrepreneurs, he can make a positive impact in people’s lives. There are many factors that affect the probability of a Startup becoming successful that cannot be controlled, like serendipity and timing. However, whatever can be controlled should be tipped in the favor of entrepreneurs through the support of their communities. That is David’s new passion and mission in life, to connect entrepreneurs to their communities, so collectively we can increase the probability of success for our entrepreneurs.