Where do startups find their resources?

In our previous article, we understood that startups need four essential elements to develop: skilled workers, funding, information and social capital. Here, we'll talk about how startups can access these resources.

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• Accessing skilled workers: strategies and tactics

You're probably wondering how and where startups can access different resources. For skilled workers, the founding team usually has the skills to turn their ideas into reality. If not, founders will try to partner with someone who has the skills they're looking for. They'll look for a specialist in their own contacts who's willing to take a stake in the company, or if not, they'll look to universities to find cheap labor, as their resources are limited.

The more educational institutions there are in an ecosystem, the more likely startups are to find talent. Silicon Valley is a prime example. Located close to prestigious institutions such as Stanford and Berkeley, this region is home to many technology startups. These universities attract and train the best IT talent from all over the world, contributing to the dynamism of the ecosystem. Similarly, the growth of Indian IT startups is closely linked to the expansion of IT training in the country's universities. This growing availability of technical skills is fuelling innovation and growth in startups, strengthening the ecosystem as a whole.

• Navigating information access: insider tips and tricks

Usually, the expert on your team will know where to find information which may not be available to the general public. This knowledge may come from the person's previous experience. Those who develop useful innovations are often people who have previously raised a fact or problem related to its activities.

In addition, the various websites of international organizations (e.g. the World Bank) can also be a great help in accessing the various information required for the development of innovation. These organizations draw up periodic reports on a given environment, providing data on a population where we wish to launch an innovation.

• Building social capital: networking for success

Once you've got all the information you need, and the skilled workers to turn your idea into reality, you'll need the social capital to make the connections that will facilitate the introduction of the innovation. An entrepreneur with a strong network will always be better than a novice entrepreneur. The network enables us to meet the right people, make collaborations, gain visibility and prepare the various actors for the innovation we're about to launch.

If you don't have a strong family network, you can start networking by applying to contests. Judges are generally experts who have contacts within the business ecosystem, and can help give your project visibility by talking about it on LinkedIn or during various meetings. In fact, if they know about your project, they're more inclined to talk about it during their exchanges with influential people.

You can also join incubation programs in support structures such as incubators to develop your network. These structures have a special place in the ecosystem, enabling you to acquire contacts with different actors who could be useful to you in your launch. To find out which support structure is best suited to your current project, take a look at the article on this website.

• Funding: the backbone of startup development

Access to the resources you need to develop your startup inevitably requires adequate financing. As far as skilled workers are concerned, if they don't want a percentage of your startup's equity - which, let's not forget, is highly exposed to uncertainty - compensation for their services becomes necessary. This compensation extends to the purchase of raw materials for prototyping, and the acquisition of complete and accurate information essential to informed decision-making. Furthermore, participation in incubation programs, vital for network expansion and mentoring, often requires a financial investment, if not obtained through competitions.

However, the discussion of financing options merits a separate article, in which we examine the different possibilities available to startups.

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As you can see, a well-developed environment, with access to a skilled workforce, accurate information, a vast network and various sources of funding, is conducive to the development of startups. Do you think your current environment is an obstacle or a catalyst for your startup?