Austin ranks among list of startup-friendly locales

 

Article Provided by: The Austin Business Journal

Live music, breakfast tacos and startups — Austin has gained a reputation for all three.

Austin ranked No. 13 on a list of the best cities to launch a startup outside New York or Silicon Valley compiled by business intelligence company DataFox.

Reviewers noted that Austin's "music and nightlife scene [have] attracted young people, creative types and entrepreneurs alike," leading to a collaborative environment for producing new ideas."

Still, the DataFox assessment conflicts with a November report by Small Business Trends that ranked Austin the top city in the country to found a startup in 2016.

DataFox highlighted Austin's cheaper cost of doing business compared to other areas of the country. Venture capital funds many startups and the state's low regulatory burden boosts the impact of those funds.

"Though Austin doesn't have as much venture capital as Silicon Valley, when it comes to early-stage companies, it doesn't have to: a $50,000 seed round goes a long way for an entrepreneur just starting up," Anisha Sekar wrote for DataFox.

Cambridge, Massachusetts ranked first on the DataFox list, followed by Santa Monica, California, and Fayetteville, Arkansas, home of Walmart.

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Author: Monte Davis

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