A part of the Boulder Thesis, which I explain in depth in Startup Communities, is that startup communities have to be led by entrepreneurs. Everyone else is a feeder into the startup community. Both leaders and feeders are important – they are just different.
Service providers, such as law firms, are feeders. Law firms with extensive experience working with startups can have a huge positive impact of a startup community. We have several in Boulder – one of the most impactful has been Cooley, especially Mike Platt and his team.
This morning Cooley announced that it is entering the Los Angeles startup community in a big way. Mark Suster explains the story, and the reason it’s such an important move, on his blog in a post titled Here are More Signs that LA Tech is Moving to the Next Level.
It’s a great example of how a professional services firm can play a key role as a feeder into a startup community.