Silicon Valley is typically known as one of, if not the most famous start-up hub of the world, housing the global giant technology companies such as Apple, Facebook and Google. A truly powerful district of the world, Silicon Valley is situated in the southern bay area of San Francisco. Not only home to some of the world’s most influential tech companies, it is one of the most likeable areas for a new tech business to flourish. It’s unusually high concentration of talent, paved the way for Silicon Valley to boom in the early 1970’s, with Stanford University and Berkeley offering unprecedented, reputable engineering courses.
However, in all its glorified splendour, there are a number of other prominent tech inspired start-up cities in America, Europe and Asia. Reboot Online Marketing decided to assess the data regarding each city’s value, growth rate, venture capital, talent pool, infrastructure and other key factors which would highlight the city’s valuable hold in the start-up world. In doing so, the list of top 10 cities has made it that little bit easier for entrepreneurs to invest their money wisely, in a thriving city that would come to shape their expanding business models.
Notable Companies: Apple, Adobe Systems, Google, Intel, Oracle, Tesla Motors, Facebook, Visa, eBay, Cisco Systems, HP
Infrastructure: Transportation in Silicon Valley is one of the most notable around the world, including the quality of buildings and facilities available for all types of businesses. The access to technology, telecommunications and a reliable electricity supply, ensures Silicon Valley is the perfect climate for anyone looking to build a business.
Talent Pool: There are currently an estimated two million high-tech workers in Silicon Valley, attracting some of the world’s skilled workforce to the technology industry.
Government Incentives: The local universities are very well supported by the government, but the government also helps ensure that the area thrives through a system of business friendly legislation and policies to help facilitate the birth and growth of start-up companies.
Notable Companies: Lenovo, JD.com, Kingsoft, Dangdang, Fingertech, Founder Group, Hoolai Games, Hylink Digital Solutions
Infrastructure: This popular city in China houses more than 21 million people alone and is the country’s economic, cultural and political epicentre.
Talent Pool: Beijing has some of the best universities in the country and many of these are close to the city’s tech hub of Zhongguancun.
Government Incentives: The government has tax incentives for start-up companies, funding research and development but also provides direct funding which can be as high as $100,000 per start-up.
New York City
Notable Companies: Shutterstock, American Express, Tumb1r, Atari, DoubleCLick, Etsy, Monster Worldwide, Citigroup, Time, NBC, Viacom
Infrastructure: New York is where it all happens – known for its busy and energetic working environment, start-up businesses can enjoy modern office space and easy access to telecommunications.
Talent Pool: There are around half a million high-tech workers and the numbers are growing.
Government Incentives: The state of New York offers a whole range of incentives and tax credits catered to start-ups. Start-Up NY offers up to 10 years of tax-free operation for new businesses or when relocating near or on a university/college.
Notable Companies: Shazam, StatPro Group, Diploma, CronLab, Powa Technologies, Datamonitor, Cheapflights, GoCardless
Infrastructure: Despite Britain’s recent Brexit, London remains the financial and business capital of Europe and a major partner for the economic market at home and abroad.
Talent Pool: London has a start-up growth of 3.3%, and around 3,200-5,400 tech start-ups are launched every year.
Government Incentives: The British government offers low corporate tax rates, free support to relocate to the UK, mentoring programmes and direct funding to help new businesses flourish.
Notable Companies: SoundCloud, Balcklane, Foodora, EyeEm, 6Wunderkinder, Directed Edge, GetYourGuide
Infrastructure: Berlin offers some of Europe’s most reputable office space and technologically superior production facilities which can be used for a number of reasons. Berlin is also the centre of science, business and finance and boasts a well-established transport network.
Talent Pool: International workers make up nearly one half of the entire labour force in Berlin, meaning the talent pool is second to London when discussing diversity. Berlin is also the most popular of student cities.
Government Incentives: The government encourages start-ups and companies to relocate to Berlin and to develop their business in its bustling city. The government offers tax incentives, public funding and incentives for entrepreneurs and investors alike.
Notable Companies: Fiverr, Optimove, PrimeSense, IronSource, MyHeritage, Sisense, Webydo, Wix, Zerto
Infrastructure: Tel Aviv was named one of the hottest start-up nations in 2015 and its success continues, with its high-end infrastructure and links to international markets. Israeli tech sales and IPO’s hit $15 billion in 2015 alone.
Talent Pool: Tel Aviv has an extremely high level of qualified individuals, with experience and education related to tech-related industries. Immigration is also high, creating a diverse spectrum of talent and creativity.
Government Incentives: Tax and legal support is provided to new businesses, supporting local businesses.
Notable Companies: Flipkart, InMobi, Aujas Networks, OnMobile, Wipro, KineticGlue, iRunway, BA Systems
Infrastructure: Despite its challenges, Bangalore is one of the rising stars of the start-up world, due to its rapid development and successes in business.
Talent Pool: The capital of the state of Karnataka is the epicentre of research universities and institutes, meaning its work force is educated to a high standard. Not to mention, these universities produce English-speaking tech workers.
Government Incentives: No matter if you are an international entrepreneur or domestic start-up founder, the state helps with direct funding.
Notable Companies: Grab (the former GrabTaxi), Lazada, Capillary Technologies, Dignify, Wego
Infrastructure: Singapore is one of the best connected cities in Asia and offers one of the largest Asian markets for start-ups, for those launching at home and for international investors as well.
Talent Pool: Singapore has a high demand for engineers who specialise in software development, but this is making it a lot more challenging for new start-ups to recruit the best workers.
Government Incentives: The government has incorporated start-up friendly policies for tech start-ups. New start-ups can receive up to $2 million through the Technopreneurship Investment Fund.
Notable Companies: Vizerra, Darberry, ZeptoLab, Talkbits, KupiVIP, VisibleNation
Infrastructure: Moscow is now the leading high-tech city in Eastern Europe. Moscow is also conveniently situated to European and Asian markets.
Talent Pool: This Russian capital is one of the best places to launch a business and one of the best in the world for a tech company. Software engineers who graduated from Moscow universities are known to be some of the best in the world.
Government Incentives: Start-up businesses in the Skolkovo zone are eligible for up to seven years free of tax.
Notable Companies: Aventones, Hoope, Austral3D, Teamscope, Agent Piggy, Uniplaces
Infrastructure: This is one of the most developed cities in South America and has one of the leading transport networks in Southern America.
Talent Pool: Santiago’s workforce are highly skilled and educated and the cost of hiring permanent high workers and engineers is one of the cheapest than other start-up cities.
Government Incentives: The Chilean government has a strong emphasis on attracting new start-ups to the capital. Regardless of an incredibly low corporate tax rate, entrepreneurs in this area can be eligible for $40,000 equity free funding, office space, mentoring programme and one-year visa.
Infographics and research courtesy of: www.rebootonline.com