Startups are cool. There is no denying that. You learn like never before, engage with someone, understand all issues, comprehend events outside your imaginations, work on tight budgets and yet manage to create an effect on the economic scene. If you have an idea that is brilliant and could potentially change something-either minimally or drastically, then you can open a startup. A startup needs a good ecosystem to grow and thrive. This conditioning is important to be able to make the business work, add value, make money and contribute to growth.
What are the factors a startup needs to thrive?
- Available SOP’s
- Incentives by the government
- Deals for startups per capita
- Business investment ecosystem
- Cost of setting up a business
Since startups are rapidly growing in every sphere from AI, fitness, food, transport, the location is not only Silicon Valley. Silicon Valley was earlier the haven for startups. A recent research proved that it has become a passé. Now, we have emerging startups which grow your business due to sheer location.
The factors considered to scout for the best states are-
- Local employment
- Education levels
- Startups deals
- States Kauffman Index
- Amount most startups were funded if per-capita
The 10 best states in the US to start a start up
This is a high performing state which has Boston as an excellent pillar for startups. It is growing and though may be considered expensive; it has a unique reach to people.
- An average company received $2.5 million to start operations.
- Many skilled degree holders and professionals
- Innovative ecosystem
This startup vibrant city is a perfect setting for learning and unlearning. One gets sufficient state support and the tech market is very huge here.
- High education levels
- Number of young adult residents
- Better transportation
- Open business community for a camaraderie
The vast farms of Colorado and the busy cities go hand in hand. It offers all the necessary elements to boost talent. Large universities and research also add to the benefits.
- Funded startups by the state
- Startup waves grew by 29% from 2016-2017
- Excellent transportation facilities
- Educated youth population
With giants like Amazon, Starbucks in the state, there is some motivation to perform. It is expensive and still has all the elements needed for a tech market.
- Highly educated, culturally rich place
- Big firms employees and large universities
- Affordable and good infra facilities
This amazing city needs no explanation for why it should be chosen. It has everything you need at the best of its abilities.
- Smart City grant received
- The powerful nerve center of business and trade
- Busiest city in the world
This large city is not just your hiking spot. It can also empower you to hike to your dreams and get your startup a nice doyen.
- Excellent public transportation
- Affordable and better quality of life
- Incentives and SOP’s by Government
This state has good performing companies and some of the biggest in the world are here. It has good revenue potential and research facilities due to good universities.
- Less state income tax
- Large skilled local population
- Innovative incubator programs
Maryland is forged on inclusive development and many venture capitalists have invested aggressively. It attracts great investments and leverages decent funds.
- Inclusive, engaging peer-driven community
- 17% increase in startup establishments in Q1
- Infrastructural facilities
Oregon has a history of good investment activities and trends in acquisition and support. It promises to fund as part of state policy.
- Touch key point for multiple businesses
- Booming SOP’s to startups
It is a hub of technology that has many tech giants housed in it. Many educated millennials work here and its low cost of living adds as a cherry on the pie.
- Home to 5500+ startups
- 0% state income tax
- Inexpensive and culturally vibrant.
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