Rachid Sefrioui, venture capitalist based in Los Angeles, CA, has compiled a list of the Top 10 Cities in the world to launch a tech start up.
The Factors for a city to make the list:
- Availability of talent (“it’s all about the startup team”)
- Availability of infrastructure
- Availability of capital (“yes, this minor factor”)
- Legal environment (labor law, corporate law, tax)
- Entrepreneurship spirit (“Yes, people who are looked upon favorably to leave secure jobs and pursue an entrepreneurial journey)
The Top 10 Cities in the World to Launch a Tech Startup List
1. Palo Alto (Silicon Valley)
2. Los Angeles (Silicon Beach / SoCal)
3. Boston (Route 128 corridor)
4. London (Silicon Roundabout)
5. New York (Silicon Alley)
6. Dublin (“2012 City of Science”)
There were 5 runner-up cities (making this really a top-15 list) as well:
2. Buenos Aires
Personally, I was disappointed that Seoul, South Korea, was not on the list, as this city has worked hard to ensure that all 5 factors are there. As reported recently in an INC Magazine article on the return of Korean entrepreneurs, there is a growing trend towards supporting the kind of risk taking that tech entrepreneurship requires, and the Korean business powers-that-be are now aware of the usefulness of having ambitious, innovative upstart companies available to keep the Korean economy competitive on a global scale.
Also missing from the list is Mumbai, Chennai, or Bangalore. Entrepreneurship is now an integral part of the Indian business culture, and the tech infrastructure is very strong.
Although US cities claim four of the top five slots, other US entrepreneurial hubs like Austin, Texas, were left off the list. Many cities in the US share not only the five factors listed above, but also the supporting ecosystem of networking, academic and government support that have made these four cities so successful.
If you are looking to launch a startup in the US, or set up a business in the US, contact us today to get a free incorporation consultation, find out (without risk or obligation) how we can get you started.