From founders to investors: Nurturing the next generation of innovators

From founders to investors: Nurturing the next generation of innovators - Tenity Insights from Davos 2025

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The startup ecosystem is a constantly evolving space where founders, investors, and policymakers shape the future of innovation. In a recent episode of Innovation Connected, recorded at the World Economic Forum in Davos, Carman Chan (Founder & Managing Partner, Click Ventures) and Sam Tidswell-Norrish (Chair of the Board, OPUS) shared their perspectives on how ecosystems develop, the transition from founder to investor, and the global investment landscape.

Here are some of the most valuable takeaways from the conversation, packed with insights on fundraising, community-building, and the role of serendipity in the startup world.

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The power of serendipity in startup growth

Networking often determines the fate of founders, especially in high-stakes environments like Davos. As Sam Tidswell-Norrish puts it:

“It’s based on one very simple premise that a 15-minute conversation can change anyone's life.”

For many entrepreneurs, one pivotal meeting can connect them with potential investors, mentors, or corporate partners who can significantly impact their trajectory. Sam recalls his first Davos experience at 25 years old, where an unexpected conversation led to long-term collaborations and investments.

This phenomenon of 'engineered serendipity' is what makes global forums like Davos a goldmine for founders. But while luck plays a role, building an ecosystem that enables these moments systematically is what separates great hubs from the rest.

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What makes a startup ecosystem self-sustaining?

Startup hubs worldwide are trying to replicate the success of Silicon Valley, but what makes an ecosystem truly sustainable?

“To have an ecosystem, you need to have different parts that can make the ecosystem auto-run,” says Carman Chan.

In well-established ecosystems like the U.S., the infrastructure is designed to enable a continuous cycle where successful founders reinvest in new startups:

🔹 Access to venture capital at every stage of growth
🔹 A strong secondary market for early exits and liquidity
🔹 A culture of reinvestment—former founders becoming angel investors

“When you have a mature ecosystem, people are more clear about their own positioning, and you can cherry-pick how you want to add value,” Carman adds.

However, many Asian and European startup ecosystems still lack these layers, making it harder for founders to exit and reinvest, which slows down the cycle of innovation.

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Why some ecosystems struggle while others thrive

Ecosystems don’t emerge overnight—they require long-term commitment and structure. As Sam Tidswell-Norrish points out:

“Building a community with real intent is key. You can’t just throw together founders for beer and pizza and call it a network—it has to be engineered with infrastructure.”

This is why some communities, like Silicon Valley’s Sand Hill Road, have thrived for decades. The U.S. startup ecosystem benefits from structured investments, standardized legal processes, and access to funding at multiple stages.

In contrast, many European markets struggle due to fragmented regulations and cultural differences. For example, in Germany, investment documents require a notary to read them aloud word-for-word, delaying deal-making.

“Some ecosystems prioritize protection over speed, which slows down innovation,” Carman observes.

The U.S., on the other hand, has simplified early-stage funding with convertible notes, allowing startups to raise money without complex legal fees. This flexibility accelerates funding rounds and keeps innovation moving.

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The rise of the Middle East in venture capital

While Silicon Valley and London remain major VC hubs, the Middle East is becoming an increasingly attractive investment destination.

“Middle Eastern investors were very open in the early days, deploying capital with few restrictions,” Carman explains. “But now, they’re implementing conditions—you need to show direct impact in the region.”

As a result, startups looking to raise funding in the Middle East need a clear regional strategy. Simply pitching to investors without engagement in the market won’t work anymore. Similarly, Sam warns founders not to expect quick money in the region:

“Don’t turn up with an empty bag expecting to fill it with cash. It’s about long-term commitment and relationships.”

This shift indicates a maturing investment landscape, where startups must demonstrate tangible value to regional economies.

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Fundraising in 2024: challenges and opportunities

Fundraising remains one of the biggest challenges for founders, and geopolitical tensions are making it even more complex.

“It’s not just about raising money anymore—it’s about where you’re raising it from, and whether regulatory or geopolitical factors will affect future growth,” Carman notes.

This means that LPs (Limited Partners) and VCs (Venture Capitalists) are being more selective, with some regions seeing a slowdown in capital deployment. However, pockets of opportunity still exist—particularly in sectors like AI, climate fintech, and deep tech.The key for founders? Targeting the right investors who align with their industry and geographic growth strategy.

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Final takeaways: The future of startup ecosystems

As global startup ecosystems evolve, founders and investors need to adapt to the changing dynamics.

🔹 Networking and serendipity still matter, but ecosystems must be designed to facilitate these moments.
🔹 Regulatory and legal frameworks can make or break a region’s attractiveness for startups.
🔹 The Middle East is emerging as a strong player, but securing funding requires real commitment.
🔹 Fundraising is harder than ever, making strategic alignment with investors essential.

Reflecting on Davos 2024, Sam captures the overall sentiment:

“There’s a step up in energy. People are enthusiastic about turning things around after a few tough years.”

Whether you’re a founder, investor, or ecosystem builder, the lessons from this episode of Innovation Connected highlight the importance of reinvestment, community, and adaptability in shaping the future of startups.

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For more insights into fintech investment trends, corporate venture capital, and startup growth strategies, subscribe to Innovation. Connected – World Economic Forum Davos 2025 Edition.

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