Every city wants to be the next Silicon Valley—or at least, Silicon Valley before housing costs went through the roof.
So who's on deck? It depends how you slice the data.
The Kauffman Foundation—a nonprofit devoted to promoting entrepreneurship—releases an annual startup index that ranks startup activity in metro areas based on several factors, including the rate of new entrepreneurs entering the market, the total number of business owners, the rate of startup growth, the number of businesses that scale up successfully, and the density of small businesses, startups and established businesses overall. According to the 2017 rankings, Miami tops the list, followed by Austin, Los Angeles, San Diego and Las Vegas.
Meanwhile, the real estate company Cushman & Wakefield used another set of factors, like higher education, available capital, tech workers and entrepreneurship, to generate its Tech Cities report, listing the hottest tech markets around the country. Not surprisingly, Silicon Valley and San Francisco top the list, followed by Washington, D.C.; Boston; Raleigh-Durham; Seattle; and Austin.
Looking at the number of deals and their total value in any given region during the last quarter offers a different snapshot. The heavy hitters of the second quarter of 2017 were San Francisco, New York, Los Angeles, Boston and San Jose, according to the National Venture Capital Association. Next up? Seattle, San Diego and Austin.
Rankings aside, it's clear that there's lots of startup activity going around across the U.S.—and lots of entrepreneurs and cities committed to building a strong ecosystem for founders and VCs alike. Here's a look at where things stand around the country.
From the Midwest to the Rockies