It's every entrepreneur's dream: to find yourself in the kind of exciting, supportive environment in which your startup can take hold and grow.
Getting accepted into an incubator or mentorship program can increase your chances of success, but living and working in one of the top global cities for startups gives you access to all kinds of competitive advantages.
Startup cities are hubs of innovation, networking and funding opportunities. You're exposed to other people just like you, and people who were just like you years ago, before they made their millions. They have the kinds of work spaces, living accommodations, professional resources and technologies that make it possible for you to get your idea off the ground and survive those startup ups and downs.
This complete and total immersion in startup culture is rare, but it's happening in some cities more than others.
Now, there are a lot of ways to rank top startup cities, but I'm loving the way Bernard Moon from SparkLabs Global Ventures went at it recently. As part of a more general look at global venture capital trends for Q2 2015, Moon put together a formula to figure out which global cities offer the hottest ecosystems for startups.
That Silicon Valley tops the list should surprise no one, but did know that Stockholm offers the second hottest ecosystem for startups? Tel Aviv is no slouch in third place, followed by New York and Seoul to round out the top five. I'm proud to see Boston (our own Silicon Valley of the East) in a solid sixth, with Los Angeles, Beijing, London and Berlin all recognized among the top ten.
Each city was evaluated based on its:
- Funding Ecosystem & Exits
- Engineering Talent
- Active Mentoring
- Technical Infrastructure
- Startup Culture
- Legal & Policy Infrastructure
- Economic Foundation
- and Government Policies & Programs
Cities could have scored up to a total of 80 points. In a column for VentureBeat, Moon shared the actual scores for each of the top ten cities:
Check out more of Bernard Moon's research on Global Technology Trends & Startup Hubs on Slideshare.