Richard Florida argued that successful communities expressed an openness and tolerance for diversity, new ideas, for change, for innovation, for participation by the members of the community. That quality of openness, even an embrace, of new ideas translates economically into a diverse business community with, arising from, a constant source of entrepreneurial activity. The diversity allows it and its community to survive the inevitable down cycles in one industry with a balancing up cycle and growth in another.

And that openness translates into many characteristics in a community including: better schools, greater participation by community members in community activities, cleaner air and water, a thriving art scene, a diverse religious and spiritual community and diversity in personal lifestyles, higher per capita incomes, lower unemployment rates, shorter unemployment periods.. and on and on.

But then, having read Richard’s book, you knew that.

Best Premises,

Martin Lindeskog – American in Spirit.
Gothenburg, Sweden.

Your point, Sanjay, is an excellent one:

“There are several traits of entrepreneurship and innovation that foster in a diverse culture. Thinking out of box, finding new way of doing things, challenging and altering age old traditional processes to name a few. In a closed and restrictive society, such tendencies are naturally suppressed.”

It applies to all types of diversity. The business world is a richer place, not only for having both gays and straight people, but for having men and women, people of color, people from many nations and ethnic backgrounds, rural and urban, and so on.

When we are open and in touch with people from many backgrounds, we tend to be more open to ideas and not stuck in a box.

Anita

There are several traits of entrepreneurship and innovation that foster in a diverse culture. Thinking out of box, finding new way of doing things, challenging and altering age old traditional processes to name a few. In a closed and restrictive society, such tendencies are naturally suppressed.

It is good to see such open conversation taking place. The more we talk about it, the more people will take notice and mend ways.

When there are no restrictions and the population is generally more accepting of change and open minded – that’s an atmosphere that can create new concepts, new ways of thinking and new acceptance.

In thinking about venture capital, isn’t that exactly the type of environment you would expect small businesses and new entrepreneurship to flourish? The two aren’t connected, per se, but they both come from a similar free-wheeling, change-creating culture. I don’t think gay = VC, but the underlying cultural forces for both have some similarities.