I disagree that Houston does not embrace failure. You need to think about what happens to wildcatting oilmen (quintessential startups) when they hit a dry hole. They regroup and try again. There is no stigma associated with the failure.

I myself have brought a company through bankruptcy have have seen no ill effects on my career. I am curious to ask what instances you have of Houston not supporting people or companies who have been through a reversal.

I also believe we are missing one factor (and I think Seattle misses it, too) and that is a group of universities that can spawn startups. That is why Silicon Valley and Route 128 have been so successful. Rice and UH serve that purpose to some extent, but I would say that the Medical Center needs to pick up that mantle.

Don’t get me wrong, I think both Rice (especially the Rice Alliance – I am a judge in their business plan competition) and UH’s Entrepreneurship program are valuable. I just wish they were bigger.

Dan Piette

I remember reading a similar quote in “Regional Advantage”, which told the story of Silicon Valley’s success. It was as wrong then as it is now (particularly in regard to Houston). Business failure isn’t seen as a “badge of honor”, but maybe a respectable battle scar. The difference in places like Silicon Valley, Houston, and the poker table is that you are judged by your next success without regard to past failures.

I’d say Houston has all three of the listed elements, as well as (4) great technical and management talent, and (5) successful research institutions. Now if we can just attract (6) a critical mass of private investment capital ….

Much appreciate your candid honesty and accuracy, and I agree with your comments. The work that you, Kurt, Marc and others have done for Houston in the past year are solid foundations for elements for one and two.

Jim