Everyone knows Silicon Valley as the geographic anchor for technological innovation. It has long been one of the go-to places for new companies to get their starts.
Outside of the Valley, the US has quite a few other startup hubs including New York, Boston, Austin, and the Research Triangle in North Carolina. However, there are plenty of strong startup scenes outside of the US that are responsible for many innovative companies.
Around the world, technological innovation is happening quickly, and it doesn’t seem to be slowing. Here are 10 regions where startups are doing big things.
The UK’s capital city may well be considered the capital of the European startup scene as well. With high-profile areas such as Silicon Roundabout, the startup scene in London has birthed companies such as Hailo, GoCardless, and TransferWise. Although some have criticized the startup scene in London, it continues to attract top talents and companies that are looking to fund startups.
Tel Aviv, Israel
Israel as a whole is quickly becoming the next technology powerhouse, and Tel Aviv has led the charge with startups. The country is known for its cybersecurity efforts, some of which caught the attention of Google. However, startups like Waze and Wix have jumped into the national spotlight and brought even more attention to the second most populous city in Israel.
Paris is known for being innovative, traditionally in both fashion and cuisine. Now, its innovative nature is showing in its startups as well. Part of Paris’ success has to do with a supportive government. Recently, a $250 million startup fund was launched as part of “La FrenchTech.” Additionally, the 42 school, funded by entrepreneur Xavier Niel, trains 1,000 new programmers each year for free.
The past few years have seen hundreds of millions of dollars invested in Canadian startups; many of those are based in Toronto. WP Technology, Bionym, and Wattpad are some of the growing startups in the city. The presence of major tech companies, like Google, and major universities plays a key role in the health of the startup ecosystem.
São Paulo, Brazil
The center of the startup scene in Brazil is São Paulo, the most populous city in the country with nearly 12 million residents. 500 Startups has a presence in Brazil alongside local accelerators Wayra and StartupFarm. Risk is seen a little differently in Brazil, thus promises of equity aren’t typically as accepted as traditional payment.
With a thriving art scene, Berlin is a hip city in Germany that remains relatively affordable. Google has a major office in Berlin, and it helped establish a co-working space in the city as part of its Google for Entrepreneurs program. Plus, Berlin has relaxed visa rules meaning it is easier to import top talent for your startup. Online music startup SoundCloud was founded in Stockholm, but it got off the ground in Berlin.
If you want to talk about startups in Kenya, or in Africa for that matter, you have to mention the budding tech scene in Nairobi, Kenya’s capital. Tech centers like iHub and other accelerators are providing resources for entrepreneurs in the area. The scene hasn’t truly exploded yet, but it is well on its way and initiatives by bigger companies like Microsoft are setting the foundation for even more innovation.
Many prominent VC firms, such as Accel, IDG Ventures, and Intel Capital have opened offices in India, recognizing the wealth of opportunity there. Bangalore leads the charge in many people’s eyes for startups in the country and the UK Indian Business Council has recently made investments in furthering the development of new companies.
An increase in both funding and exits means that Singapore is on the rise as one of the next top startup markets in Southeast Asia. Singapore hasn’t produced many household names in technology companies, but many major investment firms have invested in Singapore companies.
The startup scene in Sydney is driven by a zealous community of entrepreneurs. Co-working spaces such as Fishburners and incubators like Pushstart and Founders Institute are helping to grow the scene as well. Companies Canva and Atlassian have ties to Sydney and there are a plethora of up and comers as well.
What do you think?
What are some other major startup hubs around the world? Let us know in the comments.