Silicon Valley is known as the leading tech startup hub in the world. This is widely evident since it is home to the world’s largest tech giants including Facebook and Google, The place is filled up with entrepreneurs from all over the world seeking to launch their tech startups and Venture capital to back them up. However, It’s a big wide world, there are other places with an environment alike that of Silicon valley. Newsflash is that Silicon Valley is no longer the place with the best tech startup environment, find out what the best place is;
Other tech hubs include:
The government’s support for local startups has played an important role in the growth of Singapore as a tech startup hub. It is already one of the world’s largest financial centers. The city’s geographical location and the booming Asian business market have given local entrepreneurs access to affluent customers and venture capital.
It is local startups like Microsoft and Amazon, that highlight Seattle as a worthy competitor in the world’s tech scene. The two companies are owned by the two wealthiest individuals in the world today. The region is responsible for over 12% increase in employment in the past two years.
Groupon and Grubhub are among 12 of Chicago’s unicorn startups with a valuation of over 1 billion dollars. Chicago has quickly risen up the ranks having ranked number 10 in 2012. This few exceptionally successful startups have led to an inflow of creative startup talent to the region. The city now has between 1800 to 3000 active tech startups.
The only reason this city has not made it to the top three ranking is the high living costs propagated by astronomical rent and travel costs. Tech city, a government startup initiative suggested that over 10000 jobs were to be created by London startups in the year 2015. The city’s strong points include access to affluent customers, multinational corporations and ambitious government initiatives.
The top 5 tech cities of the world in 2018 are:
5. Tel Aviv, Israel
This city’s tech focus has been credited to the proximity of Tel Aviv University and the Israeli Defense Forces. However, an inflow of international startup talent is now the areas greatest growth catalyst. The city has low travel costs and ranks 6th in startup experience. The city’s best feature is the startup funding that averages a $509,000.
4. Austin, US
Being the home to tech titans, IBM and Dell.the city has long been on the map of the world’s top tech cities. Recently, the area dubbed Silicon Hills has brought an influx of international tech talent due to low living costs and rapid business start up. The city ranks 5th in the world’s tech cities with affordable monthly rent.
3. San Francisco
This might be surprising to some but Silicon valley no longer holds the top spot. This is because the living costs have now become enormous. The city now ranks 20th in the world’s tech cities with low living costs. It still ranks 1st in early startup funding regardless, best feature being the software engineers salary that hits an average of $112,000.
2. Berlin, Germany
Low living costs and a booming creative scene have made lots of tech entrepreneurs from all over the world to flock to the region. At least 20,000 new jobs are to be created by tech startups by the year 2020. In the past Berlin startups have shown excellency in E-commerce, gaming and Market places. Berlin now has an influx of tech talent in Saas and Adtech. The city ranks 4th in payed holidays and cost of living. It’s best feature is it’s monthly rent that averages $1,139.
1. Beijing, China
This city is the world’s second most affordable tech city to live in. It ranks 2nd for a great startup experience and it’s best feature is an early stage funding of an average of $682,000. Beijing has it all, from government support, access to affluent customers and multinationals, tech talent and infrastructure and connectivity.