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Some companies have stepped up to solve this problem. Founded by Jason Evanish, a Northeastern graduate, Greenhorn Connect has established itself as the Boston hub for entrepreneur resources, events and organizations.
The recent increase, according to boston.areastartups.com, in the number of new start-ups is a result of more than just the city’s talent and money – Boston has always had those resources. Some feel the notion of the start-up has been cast in an especially appealing light by recent success stories and media attention.
“I think first-time entrepreneurs come into it thinking they’re going to make it big; they learn very very quickly that it doesn’t work that way,” Najjar said.
The economy is also a strong factor in the increase in interest, Adomdza said.
“The rate at which people start companies increases in economic downturns, and a lot of Fortune 500 companies were started during economic downturns,” Adomdza said.
Oftentimes a start-up is founded by a group of professionals coming from companies who were forced to lay them off in trying economic times.
“The reality is, some people found start-ups not out of choice, but out of necessity,” Najjar said.
With this increase in start-up interest has come a rising demand for resources both in Boston and at Northeastern. A number of organizations have developed services catered to fledgling companies.
MassChallenge, a Boston non-profit, connects potential start-ups to the people and knowledge they need to be successful, according to its website. Teams from around the world are able to pitch their ideas to judges in hopes of earning one of 125 coveted spots in the MassChallenge Accelerator Stage – a three-month program in which teams are given everything they need to jump-start their success. MassChallenge is able to provide this opportunity because of donations from existing businesses.
“MassChallenge’s success in Boston is really based on the participation of the community,” director of partnerships Scott Bailey said. “Boston is really great at finding really motivated, driven people as well as the resources to back them up.”
Northeastern has a number of resources available to students with an idea and a passion. The Entrepreneurs Club provides students with a support network and the resources they need to change an idea into a business model. Likewise, IDEA, Northeastern’s Venture Accelerator provides students with coaching, mentoring and funding once their ideas begin to take form. These programs have received praise from people outside the Northeastern community.
“I’m really impressed by the resources Northeastern offers its students,” Bailey said. “We see a lot of great start-ups from there.” But students need only heed Najjar’s advice for success: “If you have an idea, get started.”