Location, Location, Location: Where You Locate Your Startup Might Be As Important As The Timing
15 May 2022
We all know the failure rate of startups: about 90% over five years. And we know Silicon Valley might still be the dominant location in the United States for starting technology companies. Perhaps that is due to the venture capitalists’ insistence that companies they fund be in or move to Silicon Valley. But as you consider the type of company you wish to start, you really should examine the importance of several factors outside of funding that could hedge your startup’s success. Where you locate your startup, even in the age of remote work, might actually be more critical than you think.
Several startup ecosystems outside of Silicon Valley have been quietly rising for more than 20 years. And in addition to the actual city, you should be studying the regional entrepreneurship ecosystem for valuable resources.