Readers here know I started my own business this year. I have been to a few networking events, including an information session on startup companies. Turns out I wasn’t really part of the target audience. This was really for those people that were starting something bigger than a 1-person business. “Startups” refers to businesses that require significant fund-raising to start – the kind that venture capitalists are interested in funding. “Venture Capitalist” is a term that makes you think of Silicon Valley companies. That’s a fairly true expectation – 76% of all venture capitalist investment in 2017 was kept in California, New York and Massachusetts (which really means San Francisco, New York City and Boston).
Forbes has come up with a list of the 10 best up-and-coming cities for startups. To define “up-and-coming,” the cities with the 10 largest VC investment totals were eliminated – San Francisco, New York, Boston, San Jose, Los Angeles, San Diego, Seattle, Chicago, Washington, D.C. and Austin. (The gap between #10 Austin and #11 Atlanta is more than $500 million, making it an ideal cutoff point.) Then, they used 13 metrics to come up with the 10 best up-and-coming cities to receive venture capitalist dollars. See all the details here. Drum roll, please….
- Columbus OH
- St. Louis MO
- Atlanta GA
- Denver CO
- Baltimore MD
- Cincinnati OH
- Portland OR
- Philadelphia PA
- Minneapolis – St. Paul MN
- Charlotte NC
My birth state of Ohio did quite well. And Charlotte made the list. So if you know a venture capitalist who’s looking for a place to park his/her money, tell them to give me a call. 😊
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