At this year’s Saratoga Forum, Andrew Acriman, head of Reach Labs at Second Century Ventures, shared powerful insights on what it takes to grow a thriving startup ecosystem. With two decades of entrepreneurial and investment experience, Andrew has seen firsthand how ecosystems evolve and what it takes for them to succeed today.
The Evolution of Ecosystems
Andrew explained that early ecosystems grew almost by chance, fueled by a few breakout successes. The second wave came as regions tried to replicate Silicon Valley’s model. Now we’ve entered a new phase, where the most successful cities lean into their unique strengths. Whether it’s hospitality in Miami or shipping in Long Beach, focused strategies create momentum.
Customers Drive Growth
One of Andrew’s key messages was simple: customer traction matters most. Revenue attracts investors, validates business models and strengthens communities. While capital, mentorship and community are important, none carry the weight of real customer demand. For mentorship to be effective, it should come from exited founders or leaders just a few stages ahead in the same industry.
Better Corporate Engagement
Andrew also challenged corporates to rethink how they work with startups. Long negotiations and complex contracts slow progress. Instead, he encouraged standard agreements, clear budget paths and incentives that reward quick learning. A pilot that ends in three months can be a success if it leads to the next opportunity.
Practical Tools
Among the most compelling ideas was a simple pilot fund. By giving corporates access to modest grants for first projects with startups, ecosystems can turn budget barriers into opportunities. Startups book revenue, corporates test faster and regions create repeatable pathways for growth.
Andrew’s perspective reinforces what we value most at Upstate Capital: building connections that move founders, investors and corporates forward together. For Andrew’s full speech, please click on the video below: