Most entrepreneurs dream of launching a tech startup in Silicon Valley. It is the famous name in the tech industry. However, if you are smart, you may want to look elsewhere for the perfect startup location. Silicon Valley real estate prices are sky rocketing, with homes in the area routinely selling for at least $200,000 over their asking price. Thankfully, there are some great alternatives to Silicon Valley for startups to plant their roots. Find out the best Silicon Valley alternatives below.
The city of Roanoke in Virginia is a great startup location to consider. You will not have a lack of talent in the area. Virginia Tech is just 45 minutes away. In addition, the area boasts a low cost of living, unlike Silicon Valley. Despite the low cost of living, Roanoke still has a great city center to offer, full of culture and great restaurants. If you are looking to stretch your startup capital, Roanoke, Virginia may be the place to plant your roots.
If you do not mind going international, Santiago, Chile is an excellent location to base your tech startup. You just have to be willing to dabble in an overseas market. The Chilean government offers up to $40,000 in equity-free grants through the Start-Up Chile program. In addition, the program also grants you access to a residence visa. Compared to the rest of Latin America, the Chilean business environment is much more transparent. This is a huge benefit to heading south with your startup. This is certainly a great alternative to Silicon Valley, no matter whether you speak Spanish or not.
Denver, Colorado is a great city to start your tech business in. It is also an excellent city to live in. This will make it easy for you to find talented employees willing to relocate to the city. Recruiting will not be difficult in the area. Denver offers more amenities and support to budding startups than other areas in Colorado, despite common belief. That makes this Denver an excellent Silicon Valley alternative to consider for your tech startup.
Bucharest, Romania is not a location you typically here about when discussing the best startup locations. However, it was the perfect place for CyberGhost VPN found, Robert Knapp. Knapp has said that if located in Silicon Valley, his tech startup would not have lasted more than six months. The country has a growing tech sector. But, developers’ salaries are low. This puts less of a burden on your burgeoning company. In addition, living costs are incredibly low, with rent for a one-bedroom apartment clocking in at just about $400/month on average. If you need to bootstrap your tech startup, Bucharest, Romania may be the perfect place to do just that.
The presence of Starbucks and Amazon makes Seattle, Washington a thriving hub for burgeoning tech startups. The city is a mecca for intelligent millennials and technology startups. Recently, VC investment has doubled for startups in the area. In fact, Seattle has reached Series G level funding. The city also ranked number one for tech jobs in the United States. It has a great startup community that thrives on its mentorship-driven environment. If you want to head to a place that provides for great collaboration amounts entrepreneurs and talented tech employees, consider moving your startup to Seattle, Washington.
If you are an entrepreneur who is interested in picking the perfect location for your tech startup, Silicon Valley is the city at the top of everyone’s lists. However, there are some other cities that may be a wiser choice for savvy tech entrepreneurs looking to bootstrap their business. Consider the Silicon Valley alternative locations mentioned above. These locations may be the best choice to keep costs low and stretch your startup capital as far as possible, without sacrificing excellent talent pools.
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