While Boston, San Francisco, San Jose, Seattle and San Diego are seen as the Big Five technology and innovation markets, some “left-behind” cities are evening out the playing field and emerging as tech hubs.
Boulder, Colorado was named as the top rising tech hub in the world by SmallBusinessPrices in 2018. Thanks to its reduced cost of living and expansive coworking network, startups are able to thrive in this city. This has led major companies such as Facebook and Google to have second headquarters in the area.
Miami, Florida ranked first in startup activity in the U.S. back in 2017 and brought in $1.4 billion in investment money in 2018. Additionally, the city had the highest startup density in the country last year. The city’s diverse economy led well-known coworking operator Industrious to expand its services across Miami, which is perfect for growing startups.
Madison, Wisconsin is known for being a biotech and healthcare hub, but it is now luring in technology companies thanks to its blossoming startup scene. Madison’s affordable cost of living and convenient transportation led to the opening of StartingBlock last year, which is coined as the entrepreneurial epicenter of the city.
Overall, entrepreneurs looking for cities that nurture their companies without breaking the bank should take a look into Boulder, Miami and Madison.