on 07 September 18
Silicon Valley is traditionally where many of the world's greatest tech startups have gotten their start. But new cities and regions around the world are developing strong reputations for offering serious advantages and productive climates for nurturing new tech startups.
Here are some of the best places around the world to start your tech startup, and some things you should consider about each one.
Silicon Valley, California
Silicon Valley is the yardstick by which all other tech startup areas are measured. It has developed its reputation for having a superior support network and abundant opportunities to secure funding over many years. In fact, if you choose Silicon Valley as your startup environment, you'll be glad to know that the potential capital raised here is at least 32% higher than you are likely to find anywhere else in the world.
Tel Aviv, Israel
Believe it or not, Tel Aviv is currently the hottest spot on the planet for tech startups. The area boasts the highest density of tech startups anywhere. If you choose this area as your base, however, you will need to rely heavily on advertising in order to secure revenue for your startup. The climate also favors smaller, tech-based companies over larger, more general startups.
Los Angeles, California
L.A. has long held attraction for hopeful, ambitious types. But where once you were likely to find aspiring artists, actors, and musicians, you can now add tech startups to the mix. Their reputation for having a solid network of support is growing along with the pool of tech talent.
Seattle has become a real contender, and is giving Silicon Valley some stiff competition when it comes to an encouraging environment for tech startups. It also has a solid tech history, having been the home to Microsoft for many years. Interesting fact: 41% of the entrepreneurs you're likely to run into here at one time called Silicon Valley home.
New York City, New York
New York is the hub of tech startups on the East Coast. While the name is not exactly synonymous with tech, since thereâs so much else going on, it is still a great place to start a tech startup. If you are a woman looking to start something, you might be encouraged to know that in New York, women make up at least one-fifth of all entrepreneurs here.
Boston is a hotbed of highly educated entrepreneurs. The entrepreneurs you will find here are more than three times as likely to hold a PhD than the entrepreneurs in Silicon Valley. While funding is abundantly available, the number of startups calling the Boston area home is considerably smaller - there are at least 79% fewer startups here than in Silicon Valley.
London is a top destination for European tech startups. Considering its great location, it tends to attract American startups who are looking for European talent. While there are dramatically fewer startups getting their start in London when compared to Silicon Valley, you will find that they have a similarly strong support system.
Given Toronto's close proximity to New York City and Boston, you might think they would have a hard time attracting good tech startup talent. But in spite of this, Toronto manages to attract a number of self-sufficient entrepreneurs. The one major downside to starting your startup in the top Canadian tech region is that funding sources are few and far between. Most entrepreneurs who put down roots in Toronto get the majority of their capital from their personal networks of friends and family.
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