Big Ideas For A Startup Culture

Yikes, I’m late in posting this story from October 2017.

Consider it a postscript to my two-part series on the “Two Wisconsins”. In researching how Wisconsin might create a vigorous 21st century economy I sat down with startup maven Troy Vosseller. He had  strong, specific ideas. The piece begins:

The question put to the venture capitalist was: How do you juice up the Wisconsin startup scene when the state is judged the absolute worst in the nation for fostering new businesses?

Troy Vosseller, 32, who’s a sure-footed Madison entrepreneur, was in an expansive mood as he held forth on the evils of non-compete clauses and Wisconsin’s bad-news rankingfor startups by the entrepreneurial-focused Kauffman Foundation.

He also made a forceful case for upgrading and expanding UW-Madison’s computer science program, arguing that Wisconsin is critically short of tech talent.

We were in the temporary Gorham Street offices of gener8tor, the new-business incubator Vosseller runs with partner Joe Kirgues and others to nurture the ventures they invest in. Next spring, gener8tor moves up to Madison’s signature spot for startups — the new StartingBlock complex on East Washington Avenue.

“I can’t name a single venture-backed startup founded by any ex-employee of the Wisconsin Fortune 500 companies,” he tells me. These companies include giants like Rockwell Automation, American Family Insurance, Northwestern Mutual, Harley-Davidson and Johnson Controls.

“Yet if you look at robust startup ecosystems like Silicon Valley’s it’s extremely common. You have people who, say, worked at Yahoo who have a great idea, leave their job to create their own company, have their ex-manager who made a lot of money in her own startup invest in theirs, and later the company is bought by Microsoft or who knows who.

“The virtuous cycle continues in those ecosystems,” Vosseller explains. “It’s commonplace. Yet here in Wisconsin I can’t think of one example [of a startup spinning off from a major corporation]. This speaks to a cultural risk-aversion we have, but some of the blame also rests with corporate restrictive covenants.”

Ah, yes, the non-complete clauses that Epic employees face when they leave the Verona campus and have to cool their heels.

To read more, please go here.

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