The entrepreneurially inclined often idolize Silicon Valley as the startup destination, a market ripe with opportunities for disruption, innovation and a plethora of other buzzwords that have wannabe CEOs chomping at the bit. We talked to business experts and examined the data and hard numbers surrounding startup activity to come up with a list of markets future founders may want to consider when nurturing their unicorns. Below are a few of the most popular markets for startups in 2015 some expected, and some curveballs.
But while Silicon Valley is certainly enticing for founders and job seekers looking to get in with a startup at the ground level, savvy entrepreneurs will look beyond the obvious when making a decision about where to designate home base. There’s recently been a push to bring venture capital funding and startup innovation to off-the-beaten-path destinations, such as Colorado and South Florida, where the cost of living is much more manageable than in San Fran or NYC.
The view that Silicon Valley and New York are the meccas of startup innovation isn’t exactly misguided; in fact, nearly three-quarters of all U.S. venture capital investment occurs in just three states — California, New York and Massachusetts.
“People move to regions for school or for jobs at established companies and then almost always later stay in those cities when they become entrepreneurs,” says Professor Olav Sorenson from the Yale School of Management, whose work includes a focus on startups and the markets within which they tend to thrive. “The one and only exception to that in the United States has been Silicon Valley, which has attracted entrepreneurs from around the globe.” Read more…