When it comes to starting a new technology company, one thinks first of Silicon Valley in San Francisco, CA, USA. However, the rise in the cost of living and property prices makes it difficult for entrepreneurs as they are already on a budget. For this reason, entrepreneurs should not forget that there are many alternative locations for a start-up that are significantly cheaper than in Silicon Valley. Below are the 5 best cities besides San Francisco to start a startup.
- Boston, MA, USA: Boston is the east coast version of San Francisco. It has a very educated population as it is home to more than 60 universities. Also, some of the most prestigious universities like MIT and Harvard are located in Boston and this makes it easier to find the talent you need. Also, don’t forget that both Bill Gates and Mark Zuckerberg began studying in Boston.
- Berlin, Germany: Berlin is one of the fastest growing startup ecosystems in the world. There are many startups headquartered in Berlin. There are also many accelerator programs and incubators that help entrepreneurs grow their business. It is in the middle of Europe and Germany has a very strong economy. Therefore, Berlin is the right place if an entrepreneur wants to operate in Europe or expand his business in Europe!
- Bangalore, India: Bangalore is home to around 4900 active startups. It has been one of India’s leading tech cities since the 1970s. It has low labor costs along with great technical talent. In addition, there are many early adopters in Bangalore, so startups can easily showcase their MVP or finished products and find some active users. It also has great investor potential.
- Istanbul, Turkey: Istanbul is the bridge between Europe and Asia. It is a very large city with a population of 15 million people and its population is mostly made up of younger people. Mobile device ownership and internet penetration rates are very high. New business accelerator programs and incubator centers are opened every year, making it easier to get on a program to grow your business. However, since it is an emerging market, one should be ready to face the challenges of an emerging market.
- Melbourne, Australia: Melbourne often competes with Sydney for Australia’s tech city, but Melbourne has lower cost of living and real estate compared to Sydney. That makes Melbourne attractive for startup founders. In addition, employees are open to new ideas and innovations, which makes it easier to find early adopters. In addition, the business world is very diverse, so startup founders from all industries can try out their opportunities in Melbourne.