It doesn’t matter if you are planning to embark on a new journey in a new place or you are a fresh college graduate. You can be sure that somewhere out there, there is a promising startup waiting for you to create. It could be just in your neighborhood, online, or several miles away. The good news is that up and coming entrepreneurs now have a long list of options to consider. Yes, you can finally say goodbye to Silicon Valley because the following 15 cities are some of the best destinations to do a startup.
- Austin, Texas
The tech hub of Texas, Austin serves as the home to more than 5,500 startups together with big-boy firms including Apple, Google, and Facebook. Educated millenials flock to the city to enjoy its vibrant dining and arts scene with a lower price tag for cost of living. These things all result to an exceptionally high employment rate.
- San Francisco, California
It is not surprising that San Francisco that is adjacent to Silicon Valley tops the list. The city brims with money, highly educated young tech talents, and entrepreneurs. Startups continue to launch at an amazing growth rate of 106.9%. And with the median income in the city, there is no reason to think twice with starting your own venture here.
- Minneapolis, Minnesota
Minneapolis takes pride on education, age of population, and overall affordability that can rival those of Austin. The city has a remarkable startup growth of 121.3%, which happens to be the highest out of all the cities included in this list.
- San Jose, California
San Jose boasts of college degrees, startup growth, and youth that justify its position in the list. The Silicon Valley stalwart currently has the highest home prices in the United States, with tech giants coming up with creative alternative offices.
- Columbus, Ohio
Columbus has been labeled as the next startup city and this is almost expected. Ohio’s capital city makes a solid argument with a large population composed of educated young adults and solid figures for startup growth. On top of that, the city is also very affordable.
- Nashville, Tennessee
For the longest time, Nashville has been famous for its country and western music, but entrepreneurship now hits a beat in the Music City. There is also a healthy growth rate of startups in the epicenter of Tennessee with reasonably inexpensive housing and rent as well as a large youthful population.
- Atlanta, Georgia
It goes without saying that Atlanta, GA is one of the fastest growing places to see young, successful entrepreneurs. With schools like Georgia Tech, Georgia State, Spelman and Morehouse College, and Clark Atlanta University, there is a wide pool of innovative talent emerging every year. One of the reasons this city is lower on our list is because Dekalb and Fulton county business license offices have been known to be challenging places for new or small businesses to set-up. With a little more friendliness and faster customer service, Atlanta could be at the top of our list!
- Boston, Massachusetts
The high density college town deserves the bragging rights for the degrees. In spite of the high rent, investor money continues to flow, with startups raising $367 million just in February 2018 alone.
- Seattle, Washington
Microsoft, Starbucks, and Amazon are all nestled in Seattle. The Emerald City is educated and youthful and despite the slowed down growth of startups, it remains to be a favorite among budding entrepreneurs.
- Richmond, Virginia
Last year, in Virginia, more than 326.22 million was invested into companies statewide. A large portion of that money was from venture capitalists and angel seed investors. These numbers are expected to rise this year, which makes this an ideal place for entrepreneurs looking for funding.
- Detroit, Michigan
This city is seeing a major resurgence and we’re all here for it! Millennials have taken the city by storm by opening a wide variety of stores to help rejuvenate the city. One of the benefits of starting a business here is cheap property. However, some of the challenges business owners face are costly renovation build outs (as many building structures are older), in addition to high property taxes imposed by the city.
- Portland, Oregon
While Portland is not as youthful or as Detroit, the living is fairly cheap here, not to mention that it is more chill and artsy. The startup growth of Rose City is far from being slow and is a place to keep an eye out for.
- Miami, Florida
With its beautiful beaches, sunny weather and live culture, Miami is a sprouting place for young, eager entrepreneurs. However, the cost of living can be pretty expensive.
- Denver, Colorado
There are lots of young people in Denver and they are working. The city even has the lowest rate of unemployment. The easy transportation access and panoramic mountain scenery are hard to beat as well.
- New York, New York
The hustle and bustle of startups created in the Big Apple is simply thrilling! It has long been a staple place for fashion businesses to launch, among other artsy industries. However, the cost of living here is extremely high, which makes it difficult for entrepreneurs who have less capital to work with. It’s still a favorite on our list!