The more different the startups are, the more they're going to benefit from being nearby. The knowledge spillovers happen most within a radius of 20 meters, or 65 feet.
Neighborly influence falls off dramatically beyond that distance-so much so that the individual startups might as well be located on different floors entirely. The benefit is strongest when the neighboring startups focus on very different markets and share some social interactions.
The reality today is, we are unlikely to speak to people who are very different from us unless there is some sort of mechanism that brings us together. Our study shows that geography can be super powerful because you don't necessarily pick who you're going to run into, as it's more provided by the physical environment.
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