Beta Boom inaugural accelerator launches in Salt Lake City this summer
Startups in markets outside of the pre-eminent technology and capital hubs often have little trouble finding early-stage support from local institutions and tech community builders. However, in dozens of conversations with civic stakeholders, investors, and founders in emerging technology regions such as Salt Lake City and Nashville, we have discovered a gap: many of these startups lack sufficient access to early capital to get them beyond the seed stage — capital which still tends to be centered in hubs like Silicon Valley, New York, and London. In addition, there are fewer mentors with specific domain knowledge and global experience in these smaller markets. This lack of access to early-stage capital and suitable mentorship makes it difficult for native startups to succeed.