Depending on what list you consult, you’re bound to receive different answers for where you should launch your startup. For this list, we analyzed population trends, startup growth, and other opportunities that these cities clearly presented over others.
According to research by Statistic Brain, 50% of startups will fail after five years. Fortunately, the stock market and economy are in a forgiving mood for now, as most economists predict the economy to grow by 2.7% this year. 2018 offers a great opportunity to launch a new product and startup, but what cities offer the best conditions for success?
According to CNBC, Austin was the best city in 2016 to launch a startup. Austin leads the pack in labor force creation and also offers some of the best opportunities for tech. Large firms, such as Google and Amazon, both have headquarters in Austin.
Beyond this, Austin is a magnet for millenials. Homes for sale in Austin, TX remain in high demand and the culture of the city and beyond has been a popular place for brands to test new products that cater to younger demographics. With its eclectic cultural scene, Austin will seemingly remain one of the best places for startups for a very long time.
A 2013 study found that Boulder, Colorado had more tech startups per capita than any other city in America. To be fair much of Boulder’s tech base can also be owed to its close proximity to Denver, which also ranks very well for tech startups. The difference is that Boulder offers the same high quality of life at a slightly cheaper rate than Denver. Add in the fact that Boulder actively promotes its Techstars apprenticeship program to its youth, and Boulder still remains one of the best cities for any startup. It was also chosen by Nerdwallet as the best city for female entrepreneurs.
In 2016, Columbus had a startup growth rate of over 96%. A report by Business.org also placed it in the top 5 best cities for startups in 2018. With a highly educated youth and growing population, Ohio’s capital city offers numerous public grants and startup programs to help entrepreneurs thrive. Even TechCrunch declared Columbus America’s next best startup city just last year.
San Jose, California
Finally, sunny San Jose has also been a hotbed for entrepreneurs and new startups over the last decade. With a rate of startup growth beyond 115% in 2016, San Jose continues to be a tech hub rivaling rising Boston and Austin. With a highly educated youth and great reputation for innovative startups, San Jose remains one of America’s best cities for startups in 2018.