Startups, angel investors, startup hubs- they all seem nice at first.
The task of getting on with your business, finding an investor, the quirkiest way to promote it, or becoming a part of a well-connected professional network is the real challenge.
This article puts together the top five best cities for startups. They can flourish more than anywhere else in the world.
Hold on to your reins because there are some surprisingly strong contenders from the developed and developing world!
Wellington, New Zealand
A series of startup incubators, accelerator programs, networking events, and investment schemes have begun to pop up in Wellington as of late, making it possibly the most southerly startup hub of them all.
Setting up your business comes amazingly cheap and hassle-free, as there is no capital gains tax and the rent is favorable.
There are also great government grants and incentives for research, development and for anyone trying to build a business.
The business culture is very much in-line with the culture of New Zealand in general; laid-back, creative, fun loving, and balanced. The city is tightly networked, yet the competition is healthy and corruption is absent.
Stylish startup hubs, such as Silicon Valley and Bay Area, are proving costlier by the minute for tech-based startups, due to the competition and the chaotic ecosystem.
Bangalore, on the other hand, is the new place to be for MNCs and new entrepreneurs alike.
Bangalore’s challenging, often dysfunctional infrastructure makes it a welcome challenge, making an impact easy to create with a startup.
Hence, Bangalore is a busy hub for innovation and initiative that is set out to solve real problems.
The city programmers work for new companies, as well as local and multinational giants.
Before getting into the pros and cons Tallinn, here’s some trivia; did you know that Skype was founded by three Estonians? Well, this pretty much sums up how friendly a startup hub it is.
Estonia is known for its revolutionary decision of making the internet a fundamental right, hence, tech-based startups are high in demand.
Estonia also happens to be one of the most liberal tax regimes in Europe, its companies are registered in a more startup-friendly manner, and most importantly, the network is thriving due to a healthy number of startup conferences, talent hunts, and government incentives for new entrepreneurs.
Tel Aviv, Israel
Tel Aviv is definitely one of the most renowned cities for a startup. It has an almost unbeatable tech ecosystem, a very strong talent pool, and open business culture.
One can probably find a cheaper place to set up shop, but it is highly doubtful whether the value for money can be beaten.
However, the challenge remains that the number of local customers is very few; hence, a startup here has to focus on international markets.
Government initiatives, such as Startup Chile, have helped Santiago startups to really thrive.
In spite of the low bureaucracy, high levels of trust, and a healthy economy, Santiago still needs to attract more entrepreneurs and investors from the global community.
Yet, Startup Chile has brought in over 480 startups alone! Santiago is also the global leader in creating female entrepreneurs, with 20% of women making up its startup workforce.
If you have any other recommendation of best cities for startups do leave a comment below and we can add them to the list.