Feb. 23, 2025
Beyond Silicon Valley: A New Map of Startup Opportunities
Last week we all stopped doomscrolling for a few moments to watch the season 12 finale of The Pitch 🎉 and found out what what it's really like to raise money for your startup. The hot takes have started to roll in. Here's the latest:
The startup world has a Silicon Valley problem
"I've been told you need to think like a West coast white man that started a company," says healthcare founder Devina Desai. But a new generation of founders is proving success can come from anywhere – and they're doing it their own way.
Regional Funding Ecosystems Emerge
While VCs cluster in California, smart founders are tapping into regional opportunities. State and regional governments are stepping up with matching funds, healthcare initiatives, and R&D grants.
In Alabama, the state matches startup investments dollar-for-dollar. Khaylah Epps of Oma Health discovered this could double her fundraising impact – turning $250,000 into $500,000.
Family offices are stepping up too. Devina's company landed an established family office as lead investor: "They've invested in over 250 companies, with 35 active healthcare companies." These investors often bring deeper industry expertise than tech-focused VCs.
Local pitch competitions and accelerators are also filling the gap. The Startup Colorado pitch competition awarded $140,000 to the founder of PartyTrick.
Authentic Leadership Wins
Some founders are rejecting the pressure to fit Silicon Valley stereotypes. "As someone that's been in healthcare for so long, I can't say something that stretches the truth." says Devina.
Capella Kerst closed her round after having dinner with investors where she demonstrated her technology over a borrowed wine bottle.
The results speak for themselves. As announced on the season 12 finale, The Pitch saw $3,881,000 invested in founders on season 12 – many operating far from Sand Hill Road.
This all reminds me of my favorite startup proverb: great companies can start anywhere. And a bottle of wine loosens VC pockets 😜
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