Dear D.C.: Who is Going to Step Up?

D.C. is on its way to becoming a Tier 1 startup hub. I’m not being facetious. I believe that.

I fundamentally believe that D.C. is the most important city in the world for America's innovation economy. It's brimming with potential. And the moment is clear. We need to promote partnership (or, at a minimum, conversations) between technologists and Capitol Hill to make sure that America maintains the best technological capabilities in the world. Our physical proximity to policymakers and their influencers offers a clear strategic advantage. However, there are other facets that we can and should seize to become a tech hub in our own right.

And we are slowly making progress. Last month, Capital Factory announced the launch of Station DC , a physical space designed to foster innovation and convene tech founders and policymakers to advance our country's national interest. The DMV is also increasingly attracting early-stage investment — an indicator that bodes well for the next decade of homegrown startup growth.

But there are still gaps — namely, from my perspective:

• Connectivity: We've got every level of government in our backyard (who, btw, is the biggest customer in the world), big-name corporates to facilitate partnerships, more than a dozen nearby colleges and universities cranking out talent, a robust local and national media presence, and a growing number of successful startups. But, we are mostly operating in silos. That needs to change. It doesn’t help that D.C. is a transient city, making it hard to build lasting bonds when people are constantly moving. Although I often feel like that is an excuse.
• A healthy risk appetite: D.C.'s ethos is more measured and methodical than bold. That risk aversion is reasonable (the majority of folks here work within or adjacent to the government), but it hinders the moonshot mindset that puts startups and their ecosystems on the map. We have to be willing to go big. And more importantly, we need to be willing to celebrate those who try and fall short.
• A central galvanizing force: It will take genuine commitment, patience, discipline, and collaboration for D.C. to reach the next level and become a recognized and respected city in the global innovation economy. At the end of the day, that takes leadership.

The last point is the one I want to focus on and make a call for.

We need a leader. A true champion.

In my mind, that leader has significant capital, influence, and passion for both D.C. and its entrepreneurs and a willingness to go all in.

So, no tall order, right?

Here's what that looks like in a few rising ecosystems:

• Dan Gilbert in Detroit: Gilbert has committed quite meaningfully to Detroit's startups through both his family office and venture firm, Detroit Venture Partners, which focuses on investing in the city's startups to turn Detroit into an innovation hub once again. He's also invested significantly in Detroit's real estate, revitalizing downtown with numerous commercial and residential projects through his company, Bedrock Detroit.
• Jeff Vinik in Tampa: Vinik's investments have boosted the local economy and fostered a vibrant startup scene. Similar to Gilbert, he's made extensive real estate investments, spearheading the $3 billion Water Street development to transform Tampa's waterfront. He's also partnered with Embarc Collective to provide resources and mentorship to startups and entrepreneurs and engaged the community through initiatives like the Vinik Sport & Entertainment Management Program at the University of South Florida to develop future business leaders in sports and entertainment.
• The Walton's in Northwest Arkansas: Their efforts have made the region a magnet for entrepreneurs and innovators. They have supported the business and medical schools at the University of Arkansas, brought in global venture firms, coordinated collaboration between local governments on infrastructure and community projects to attract businesses and talent to the region, backed local companies, built collaborative office spaces, and created a great quality of life through arts, outdoors, and more. It's truly remarkable.
• The Pritzkers in Chicago: Their efforts have been a huge catalyst for the city's innovation ecosystem. They've developed modern mixed-use projects and office spaces to facilitate collaboration and attract tech companies through the Pritzker Realty Group, supported 1871, an incubator that provides resources, mentorship, and networking opportunities for entrepreneurs, and made significant investments in Chicago-based startups through the Pritzker Group VC.

Admittedly, these examples focus heavily on placemaking. I'm not entirely sure that is exactly what D.C. needs.

But the leadership and willingness to bet big on the city to make it a better place to start and scale a tech company is. FWIW, people like Steve Case and Ted Leonsis ushered in the beginning of D.C. innovation with AOL and essentially put D.C. on the map. They continue to support the ecosystem through Revolution and their focus on promoting startups in the D.C. area, but it is time for a new generation to step in, stand by their side, and help carry the torch.

I believe that D.C. can unify faster with an individual (or maybe it is a collection of individuals?) to rally behind.

I also believe leadership will spur the connectivity and risk appetite D.C.'s ecosystem desperately needs.

So, my question is: who will do it for D.C.?