How Entrepreneurs In Surprising Places Are Building the New American Dream in The Rise of the Rest by Steve Case

In “The Rise of the Rest,” Steve Case brilliantly explores the untapped potential of entrepreneurship in unexpected places across America. This captivating book uncovers the inspiring stories of innovators who are redefining the American Dream and driving economic growth in overlooked communities.

Dive into the pages of “The Rise of the Rest” and be inspired by the incredible journeys of entrepreneurs who are transforming their communities and shaping the future of the American economy.

Genres

Business, Entrepreneurship, Economics, Innovation, Technology, Startups, Venture Capital, Regional Development, Social Impact, Inspirational

“The Rise of the Rest” by Steve Case is an eye-opening exploration of the entrepreneurial potential that exists beyond the well-known tech hubs of Silicon Valley and New York City. Case, the co-founder of AOL and a successful investor, embarks on a journey across the United States, visiting cities and towns that are often overlooked in the entrepreneurial landscape. Through engaging storytelling and insightful analysis, Case highlights the remarkable innovations and thriving startup ecosystems that are emerging in these unexpected places.

The book delves into the stories of entrepreneurs who are leveraging local resources, talent, and community support to build successful businesses. Case emphasizes the importance of fostering entrepreneurship in these “rise of the rest” cities, arguing that it is crucial for creating jobs, driving economic growth, and revitalizing communities. He also addresses the challenges faced by entrepreneurs in these regions, such as limited access to funding and networks, and offers practical solutions and strategies for overcoming these obstacles.

Throughout the book, Case presents a compelling vision for a more inclusive and geographically diverse entrepreneurial ecosystem in America. He highlights the role of policymakers, investors, and community leaders in supporting and nurturing entrepreneurship in underserved areas. Case’s insights and observations serve as a call to action, encouraging readers to recognize and support the untapped potential that exists in cities and towns across the country.

Review

“The Rise of the Rest” is a must-read for anyone interested in entrepreneurship, economic development, and the future of the American economy. Steve Case’s compelling narrative and well-researched insights shine a light on the incredible opportunities that exist in often-overlooked parts of the country. The book is both informative and inspiring, offering a fresh perspective on the entrepreneurial landscape and challenging conventional notions of where innovation can thrive.

Case’s writing style is engaging and accessible, making complex economic concepts and entrepreneurial strategies easy to understand. The stories of the entrepreneurs featured in the book are truly inspiring, showcasing their resilience, creativity, and determination in the face of adversity. These stories serve as powerful examples of the transformative impact that entrepreneurship can have on individuals, communities, and entire regions.

One of the strengths of the book is Case’s ability to provide practical advice and actionable insights for entrepreneurs, investors, and policymakers. He offers valuable lessons on building strong startup ecosystems, attracting talent and capital, and fostering collaboration between the public and private sectors. Case’s vision for a more inclusive and geographically diverse entrepreneurial landscape is both compelling and achievable, providing a roadmap for driving economic growth and creating opportunities in underserved communities.

Overall, “The Rise of the Rest” is an essential read for anyone who believes in the power of entrepreneurship to transform lives and communities. It is a book that will inspire readers to think differently about the American Dream and the potential for innovation and economic growth in unexpected places. Steve Case’s insights and observations serve as a powerful reminder that the future of entrepreneurship in America is bright, and that with the right support and resources, entrepreneurs in surprising places can build the new American Dream.

Recommendation

West Coast successes such as Apple led people to believe start-ups must launch in innovation hubs like Silicon Valley. Today, however, communities across the United States are increasingly nurturing new businesses. To boost that effort, in 2014 AOL founder Steve Case launched the ongoing Rise of the Rest initiative, a nationwide undertaking designed to shine a spotlight on innovation growth outside of the traditional coastal tech hubs through city visits and events, and capital investments. After seeing the support and energy from the Road Trips, the initiative grew to become a seed-stage investment fund backed by prominent business executives, tech leaders, and entrepreneurs. Here, Case describes Rise of the Rest’s annual innovation competitions and showcases in US cities that don’t usually make the lists of innovation hubs. Like the Johnny Appleseed of innovation, he hits the ground in the middle of the country and encourages innovative businesses to bloom.

Take-Aways

• Rise of the Rest encourages cities across the United States to invest in innovation.
• Business conditions increasingly favor start-up growth in cities beyond Silicon Valley.
• Rise of the Rest demonstrates that supportive networks help start-ups succeed.
• Rise of the Rest encourages communities to leverage their local strengths to support entrepreneurs and innovation.
• Support for start-ups can revitalize stagnant communities.
• Adversity can spark innovation and create new opportunities for entrepreneurs.
• Diversity and sustainability fuel innovation.

Summary

Rise of the Rest encourages cities across the United States to invest in innovation.

The Rise of the Rest initiative brings together innovators, government representatives, potential funders, business leaders, policymakers, and other participants to support innovative entrepreneurs in America’s heartland.

“It was about backing entrepreneurs everywhere, and in the process leveling the playing field of opportunity.”

Each Rise of the Rest Road Trip visits five cities in five days, investing at least $500,000 in local start-ups through pitch competitions and innovation showcases to demonstrate how entrepreneurship and innovation can give rise to new companies and new jobs. Rise of the Rest investors also visit local start-ups, learn from local leaders and spend time with elected officials.

The start-ups most likely to succeed have a clear identity, good timing, and an offering that meets a market need. Success by a start-up firm is rare – only one out of 10 succeeds – and it requires essential resources that Rise of the Rest can help deliver: connections, money, attention, and support from credible partners who add legitimacy. As an external supporter, Rise of the Rest can spark change in the local communities it visits, such as those on one recent tour: Dallas, Texas; Birmingham, Alabama; Louisville, Kentucky; and Chattanooga and Memphis, Tennessee.

Such cities often can provide both strong roots and a nimble business environment. For example, investment in Detroit’s urban core and in the Shinola company – which makes handcrafted watches, bikes, jewelry, and more – is helping the city recover from the automotive industry’s decline.

Business conditions increasingly favor startup growth in cities beyond Silicon Valley.

Currently, half of venture capital investment in the United States goes to California companies. This creates a feedback loop since investments draw more investments. However, investors are increasingly supporting start-ups outside centers like Silicon Valley, Boston, and New York, and creating jobs in communities that need them.

“Sustainable investing…is a new wave that’s gaining momentum.”

Smaller cities offer expertise and infrastructure for a variety of industries, including transportation and agriculture. They often boast a lower cost of living than urban innovation hubs. However, as Rise of the Rest’s investors demonstrate, encouraging a city’s innovative start-ups requires embracing the whole community, not only its entrepreneurs.

Rise of the Rest demonstrates that supportive networks help start-ups succeed.

Tech start-ups benefit from clustering, which fosters mutual support – particularly in areas offering educational and labor pool resources. Start-ups benefit from Rise of the Rest’s visits, competitions, support, and investment facilitation as well as support from other interested parties, including federal, state, regional, and local governments; other businesses; academia; investors; media; and civic organizations.

“The most successful emerging ecosystems recognize that scaling a start-up requires network density – being in close, regular contact with other creators.”

Communities benefit when they create innovation hubs. Rise of the Rest works to highlight many examples, such as Louisville’s Muhammad Ali Center, which serves start-ups by nurturing confidence, dedication, respect, and spirituality. The innovation ecosystem in Madison, Wisconsin, features a strong work ethic and academic involvement from its excellent branch of the University of Wisconsin. Having a physical place where entrepreneurs can come together boosts their success. Examples include Louisville’s 1804 Entrepreneurship Center; the TitletownTech Center in Green Bay, Wisconsin; the Warehouse District in Phoenix, Arizona; and, in Ohio, the OTR in Cincinnati and the Idea Foundry in Columbus.

Rise of the Rest encourages communities to leverage their local strengths to support entrepreneurs and innovation.

Around the United States, Rise of the Rest has amplified the idea that cities should make the most of their local assets.

For instance, citywide internet access and the regional freight industry set the stage for Chattanooga’s start-up culture. Northwestern Arkansas capitalized on the spirit and retail expertise of homegrown Walmart.

Central Florida’s Space Coast is a perfect location for aerospace innovation. Farther south, Miami’s local campaigns to attract talent and investors, and its inclusive eMerge conferences helped the city become an innovation hub. On the Gulf Coast, Tampa demonstrates how revitalizing a city’s center and supporting workers’ wellness contributes to start-up culture.

“The blanket presumption that tech companies are better off in Silicon Valley has been replaced by the realization that some companies are actually better off because they’re not in Silicon Valley.”

In Dallas, where entrepreneurs benefit from the city’s pro-business attitude, Rise of the Rest brought leaders with investment ability together at Paul Quinn College, an innovative but resource limited institution, to strengthen both. The Dallas Entrepreneurship Center also helps start-ups develop.

The hypersonic aircraft builder Hermeus found an Atlanta location near Georgia Tech, the state’s engineering university. The city’s predisposition toward established corporations initially limited its start-up culture until those senior companies began working with universities and local governments to support new firms, including recent succes such as Mailchimp. Atlanta unicorn founder Sean Henry decided against moving to Silicon Valley because he found more dedicated workers and less intense competition in his home state. The innovation supporting Atlanta’s Opportunity Hub (OHUB) evokes the spirit of Martin Luther King Jr. to amplify opportunities for underrepresented innovators.

Denver, Colorado, a nationwide top-five city for start-ups, became an innovation hub due to its exceptional physical and cultural assets. Rise of the Rest found that Denver’s supportive government, academic, and business communities, sense of local cohesion, and business leaders’ commitment to entrepreneurship all made it fertile ground.

Support for start-ups can revitalize stagnant communities.

Pennsylvania towns that once worked together to win World War II defense contracts are now applying similar tactics to creating a technology hub. Technology that focuses on robotics is a boost for Pittsburgh, which suffered when the steel industry declined. Carnegie Mellon University grads are choosing to stay in Pittsburgh rather than move to either coast.

Traditionally, investors in Omaha, Nebraska, have put more stock in established companies than start-ups, but the University of Nebraska-Lincoln Innovation Campus is turning that around. Rise of the Rest introduced investors and mentors from Omaha and Lincoln to LifeLoop, a successful start-up that coordinates among senior living community residents, staff, and family members.

“Some communities that previously declined or stagnated are seeing new life as hometown entrepreneurs decide to innovate in place, particularly given the support of the Rise of the Rest tour and its funding competition.”

The business culture of Salt Lake City, Utah has shifted from a pattern of working and commuting to a consolidated live, work, play approach. The city’s public, private, and academic sectors and its generous civic spirit all help foster innovation. Rise of the Rest underscored its priority on entrepreneurship for everyone when it convened at a Salt Lake prison that included a focus on entrepreneurship skills. The investors also toured the city’s Spice Kitchen Incubator is working both to make a profit and help alleviate poverty, showing how an innovator “can do well while doing good.” The start-up community now refers to Salt Lake City as “the Silicon Slopes.”

Nashville, Tennessee demonstrates the value of tapping into a local community’s inherent strengths – in its case, entertainment and health care. Government, start-up hubs, and a cultural focus on creativity help support its new businesses. Rise of the Rest’s activities in Memphis also delved into the role of entrepreneurship in the music industry.

Rise of the Rest finds that tech hubs, business ecosystems, incubation sites, and government all contribute to a productive environment for innovative firms.

Adversity can spark innovation and create new opportunities for entrepreneurs.

When a crisis strikes, whether it’s a slow pandemic or a sudden natural disaster, Rise of the Rest has found that opportunity and innovation can emerge from the disruption. For example, nonprofit and for-profit start-ups both came to Puerto Rico to help it recover after Hurricane Maria.

In Ohio, a government-funded nonprofit helped small, young businesses survive the COVID pandemic. In Minneapolis, Minnesota, the Coven work sharing space helped support the community both during the pandemic and the civic upheaval that followed the death of George Floyd at the hands of police. A local delivery business, Dispatch, helped provide materials when the pandemic disrupted supply chains.

Nationwide, the pandemic brought massive job changes and a new awareness of sustainability, resilience, and the need for meaningful work. This led to the emergence of innovative civic and business efforts, such as Oklahoma’s TulsaResponds, which helps organizations feeling the effects of the pandemic.

“We might now be at the moment where work and life are functionally being unbundled, creating unparalleled flexibility.”

The pandemic’s trend toward remote and hybrid work loosened the ties between jobs and a sense of place and made workdays more fluid and adaptable. This “great unbundling” of workplace and home means new businesses can find roots and talented people almost anywhere. Many workers are moving, often back to their hometowns. As Rise of the Rest investors posit, the communities most likely to benefit from this trend are too far from big urban centers for easy commuting and offer a sense of belonging, as well as recreation, entertainment, and a lower cost of living.

Diversity and sustainability fuel innovation.

Diversity in entrepreneurship boosts economic equity. The start-up system often offers scant opportunities to women and people of color – only a tiny fraction of standard funding goes to their enterprises.

“We cannot keep our entrepreneurial edge in the world if we do not welcome entrepreneurs to our country.”

Rise of the Rest addressed this imbalance with an Equity Edition tour, to connect Black entrepreneurs with funders and resources. One Rise of the Rest Equity Edition competition winner started Rheaply, a business that reuses lab materials.

Recognizing sustainability as an opportunity rather than a problem can help spark solution-focused start-ups. Examples include companies that offer mobile electric vehicle charging stations, technology that regulates room temperature, cultured seafood, and a substitute for plastics-based packaging material.

“Everyone has a role to play.”

Policymakers, funders, civic leaders, academic institutions, and businesses can encourage entrepreneurs by recognizing and supporting innovation. Rise of the Rest continues to find opportunities across the United States, confirming that innovation remains a hallmark of the nation’s culture. It has shown how entrepreneurs and innovators help themselves and their communities when they have the courage to pursue their dreams.

About the Author

Steve Case, co-founder of America Online (AOL), founded the Rise of the Rest initiative and heads the venture-capital company Revolution LLC. Rise of the Rest Road Trips visit multiple cities each year and the organization holds an annual Rise of the Rest Summit. Case also wrote the NYT bestseller The Third Wave: An Entrepreneur’s Vision of the Future.