Econ Dev Show Podcast - Economic Development 185: How Local Governments Can Power Startups with John Lynn
In this episode of the Econ Dev Show, Dane Carlson sits down with John Lynn, co-founder and managing partner of Quay Acceleration, to explore how public-sector-backed accelerators are reshaping the entrepreneurial landscape. They discuss the shift from private, investor-focused models to community-centered programs funded by economic development organizations, the unique benefits these accelerators provide to entrepreneurs, and how communities can measure success beyond ROI. John shares real-world examples, including a retail storefront accelerator in Manhattan, insights into evolving capital markets, and his vision for the future of entrepreneurship in an ever-changing economy.
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Ten actionable takeaways for economic developers
- Define success metrics for accelerators that align with community priorities, not just investor ROI.
- Focus on retention of high-revenue companies as a key measure of long-term impact.
- Pair accelerator participants with experienced mentors from relevant industries.
- Use accelerators to address specific local economic challenges, such as high retail vacancy rates.
- Integrate accelerators into broader multi-tiered economic development strategies.
- Ensure program content is field-informed and reflects the latest industry practices.
- Leverage public visibility to attract community engagement and media coverage.
- Conduct feasibility studies before launching to ensure sustainability and fit.
- Expand success metrics to include job creation, revenue generation, and brand recognition.
- Build relationships with global networks to bring investment and expertise into local programs.
Special Guest: John Lynn.
Sponsored By:
- Sitehunt: Sitehunt is an AI-enhanced platform that helps economic developers build a comprehensive property database, enabling informed decisions and efficient RFI responses to accelerate site selection and project success.
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