Throughout the US leg of the 2016 elevate61 tour, the participants visit three vibrant cities that all have a very apparent and unique start up culture. Here's a little insight as to why they're known as some of the tech-friendly and innovative cities in the world...
Although Los Angeles is not typically associated with fresh ideas and innovation, this west coast city has been home to some of the most successful online companies to date, including CitySearch (sold to Ticketmaster for $260 million in 1998), Overture (acquired by Yahoo for $2 billion in 2003), eHarmony and LowerMyBills (bought by Experian for $330 million in 2005). And that's not even counting MySpace, which Rupert Murdoch famously paid $580 million for in 2005.
The Southern California locale benefits from its easy proximity to Silicon Valley, just an hour's flight away, as well as from the many universities in the area.
Technology and digital-media companies rival media and movies in this area near Los Angeles. But what the city lacks in physical size, it makes up for in innovation and in the resources needed for small-business success. With more than 23,000 small businesses, and 32 percent of them owned by women, Los Angeles represents a great business opportunity for growing companies.
Still one of the best places in the US to found a company, San Francisco houses innumerable startups, universities, venture capitalists and established tech giants. Often refrred to as the global epicenter of innovation, disruption is in the blood of San Francisco – a reason why More and more entrepreneurs and start-ups are choosing to set up headquarters in this innovative city.
New York City:
New York has forever harboured a hotbed of entrepreneurial activity. It has hosted ventures in numerous powerhouse industries such as fashion, banking, media and advertising. More recently, Internet and technology growth has accelerated, thanks to successful entrepreneurs from the initial Internet boom, as well as city initiatives such as the investment fund NYC Seed and incubators aimed at helping laid off Wall Street workers forge an entrepreneurial path ahead.
New York's eclectic mix of trades and assortment of individuals within them, gives start up companies a varying views into how business works. As new generations of Internet entrepreneurs emerge and support one another, entrepreneurs and start up businesses are only getting stronger.