That means leaders outside the hubs have to think differently about building their teams. Culture and flexibility become essential tools for attracting and retaining people, not just nice-to-haves. Leadership has to be more intentional and communicative, because team cohesion can’t be outsourced to proximity.
There’s an upside to this, too. People outside major startup ecosystems are often looking for something different, be it meaningful work, genuine career development, or stability. Such factors are far more appealing to them than cycling between startups every couple of years. Stability can be a serious differentiator for leaders who recognise and invest in it.
Not every technology company should follow the venture capital model
The sector talks as though venture capital is the natural path for any technology company. In practice, it’s designed for a very specific kind of business: one chasing extremely rapid growth, willing to absorb high risk, and aiming for a very large exit.
Many technology companies don’t fit that profile, particularly those building enterprise software, government technology, or data infrastructure. For these businesses, longer sales cycles and steady growth are more typical than explosive user acquisition. They can be highly valuable and highly sustainable; they just don’t fit the VC mould.