by Daniel Schutte
Recent events in the financial services industry serve as a necessary and unfortunate learning opportunity for all of us, especially in the entrepreneurial support space. The breakdown in stakeholder communication, lack of appropriate risk management, and absence of critical counsel are just a few of the issues that have been highlighted in conversations and articles. While we cannot speak to federal, state, or local policies, (or individual institutions) it is important to stress the significance of understanding, supporting, and creating new solutions and platforms to assist financial institutions on their technological journey.
A strong, growing entrepreneurial base is vital for our industry to thrive, and this growth depends upon the effort of the broader financial services market. We at The Venture Center are committed to partnering with small businesses, accelerator alumni, and other startups to connect them with investors and help launch and sustain their businesses. However, it is equally important to ensure that entrepreneurs have the same opportunities at the regional and local bank levels.
We urge our banking partners to continue driving sustainable and predictable innovation through startup partnerships. It is crucial that we do not let broader market concerns stifle innovation and product adoption. Doing so would set the industry back years. Instead, let us work together to create a supportive ecosystem that fosters high-impact, high-evidence innovation, entrepreneurship, and growth.
About The Venture Center The Venture Center is a globally recognized Arkansas-based Entrepreneurial Support Organization (ESO) that helps entrepreneurs turn their start-ups into viable, high-growth businesses. By leveraging the expertise of a world-class team of mentors, intensive programming, and introductions to the investor community, The Venture Center serves as an engine for economic growth in Arkansas and beyond. Learn more at www.venturecenter.co. Follow The Venture Center on Facebook, LinkedIn, Twitter(@VentureCenter), and Instagram.