In the startup world, there is no place like Silicon Valley. But while Google engineers live in the parking lot at work, the rest of the world is stepping up its startup game.
Check out five of the best cities in the world to run your startup:
1. Warsaw, Poland
Poland is proper in the middle of the European Union, bringing Europe’s love for small businesses along with the cost and standard of living that entrepreneurs love to the table.
Warsaw is home to funding opportunities, but what makes it unique is the opportunities for those intending to bootstrap their business. Sixty percent of the digital startups in Poland reported bootstrapping their startup. But most of all, low costs in Poland kept them profitable from day one.
2. Boulder, Colorado
Boulder is a playground for the eco-friendly and the lovers of endurance sports. It also represents one of the brightest beacons of the American entrepreneurial spirit. In 2010, Boulder boasted over six times the typical tech startups per capita than the national average.
This entrepreneurial spirit results in an economy that depends on itself and not on a single employer. As a result, it is home to venture capitalists and incubators like the famous Techstars.
The best reason to run a startup in Boulder is that, while it is now becoming well-known for its startup scene, the city has been running in this capacity for years. Since 1960, Boulder has provided a quiet, leafy home to startups that would become huge companies. Ball Aerospace, one of the first contractors sought by NASA, and StorageTek, purchased by Sun Microsystems for a cool $4.1 billion, were all nurtured here.
3. London, UK
London is the premier place to start up and run a business. As Europe’s technology and financial capital, it offers a vast amount of resources for fledgling businesses in all industries. The cosmopolitan lifestyle and breadth of culture make it an inspiring city to live and work in.
London startups may have access to some of the most excellent resources in the world, including finance and talent. However, they certainly pay for the luxury. London was recently ranked as the most expensive city in the world to run a tech startup.
Fortunately, because it has plenty of resources, startups are not forced to head down the conventional, expensive route. Collaborative offices abound in London, and the UK government has been actively working to lower startup barriers, including funding and relief for entrepreneurs.
As an old saying goes: you get what you pay for. Those who can afford London get access to the global financial system, over a dozen incubators, and the opportunity to shop near one of London’s 12 billion dollar unicorns.
4. Tel Aviv, Israel
Tel Aviv is commonly recognized as having a significant influence on the global startup scene. Still, few go far enough to mention what the Mediterranean city brings to the table.
Israel is a small country regarding land and population, but not regarding startups. According to recent reports, for every one thousand people living in Tel Aviv, at least one person owns a startup.
The city credits this success to a national ethos that rids its residents of the fear of success and encourages them to move on from failures quickly. Plus, with a city full of people in the same boat, an entrepreneur can run into the inspiration they need by just living their daily life.
5. Singapore
Until recently, Singapore lingered on the periphery of startup scenes. Despite being recognized as a global business hub, it was not experiencing the exponential growth of other cities in Asia and worldwide. But in 2012, the state began working hard to change that. Since then, Singapore has joined the global list of the top 10 startup ecosystems in the world.
Entrepreneurs looking to head to Asia find Singapore an easy place to set up a business. They also find plenty of access to financial and technical resources required for success.
The downside of Singapore is often cited as its high cost of living, which does not approach London costs but is about equal to the costs of living in a multicultural and cosmopolitan European city. There is also a current lack of tech talent in Singapore compared to other cities. However, considering the rapid growth and investment currently being made here combined with its position at the crossroads of Asia, this could change soon.
There is no place like California. But fortunately for entrepreneurs, there are plenty of places in the world offer unique ecosystems primed to prepare them for success.
