The founders met at one of the premiere universities in the world. They were at a place that nurtured ideas, in a region with experienced venture investors who saw the potential of the company. That gave them the ability to raise capital, refine their plans and grow the company.
Every city needs a success story like Hubspot, but Boston has many others including iRobot, Wayfair, Acquia and Carbon Black, to name but a few. Just last year, Klaviyo went public, adding to the parade of startup success stories.
As these companies generate wealth for the founders, that in itself provides an angel funding system where founders flush with cash from their exits support a new generation of founders, and on it goes in this virtuous wealth-generating cycle.
What's more, these companies also produce other entrepreneurs, who leave and start their own companies, often supported financially by their old bosses.
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