An apt business idea develops when innovation augment a million-dollar plan. Today innovations drive startups and certain educational startups in some Developing Countries are a result of such innovations. Other Developing Countries allocate new funds to help jobless graduates set up businesses. That established fund is for university graduates to start businesses to help stem the country’s high employment rate.
Most graduates end up on the streets, with some even resorting to vending as Countries economic crisis deepens. Usually, the governments are obligated to set up a Graduate Entrepreneurship and Employment Promotion Program with considerable seed funding to support the creation of business ventures by graduates-University students. These programs accompany entrepreneurial skills development courses designed to help in setting up the businesses.
LEADING GLOBAL STARTUP CITIES
Silicon Valley, U.S
This city is the hotspot of most innovative and successful startups in the world. The city lures some of the best tech startups across the world. There are plenty of benefits that come along with opening a startup in the famed Silicon Valley. The environment here is instilled with technological development and resources. The successful track record places every startup in an advantageous position to enjoy the perks of an already established infrastructure.
New York City, U.S
The rise of New York City as a startup hub has been commendable. The city hosts a sector that attracts investments and revenues worth billions every year. The growth in venture funding, large exits, urbanization of the startup sector and many such factors have acted as catalysts for driving the success in the city. The availability of the innovative technological tools, creative and ambitious entrepreneurs and digitization of the information-centric industries makes it the second largest startup ecosystem in the world.
Los Angeles, U.S
The startup scene in Los Angeles has finally come of age after decades of growth process. Strong distribution, execution and customer advocacy has bagged national and global notoriety for the companies here. For years, the city had been typecast as ‘entertained hub’ before the recognition of its blossoming tech sector. The diversification here perfectly suits for local marketplaces and on-demand businesses. The city is home to some of the best engineering talent, high retention rates, affordable cost of living and pleasant weather throughout the year.
One of the oldest cities in U.S., Boston, is place of origin for the tech biggies like Facebook and Dropbox. Boston is also home to the most prestigious universities in the world Harvard and MIT, and has the highest rates of venture capital investment in tech companies across the world. Startups are being funded and fostered here building a powerful ecosystem in the city. Tech and social media biggies like Google, Twitter and many more have their acquisitions in the Boston area.
Although smaller than the Silicon Valley, the startup scene is growing fast in London. The city has shown a steady growth over the past few years owing to the early startup successes, attention from global internet giants, expanding venture capital ecosystem, increased government support and attention of the financial sector. The city has great tech potential which can be witnessed with the surge of cloud-enabled and cloud-focused ventures in the startup sector.
The robust startup ecosystem in Chicago was built as angel investors started arranging themselves in networks. The deals and investments in the city receive profitable returns. The co-working culture has got everything from real estate or social good incubators to a healthcare, food and veteran tech accelerators. The city ranks amongst the top economies in the world.
Owing to the weak funding, Seattle dropped down from the fourth to the eighth position. However the funding gap is predicted to narrow down in future and tech would continue driving the startup zone due the presence of tech giants like Microsoft and Amazon. However, the report suggests that the city should improve the women entrepreneur count which is around 9 percent presently.
The capital of Germany, Berlin, has a burgeoning startup landscape. A survey says that a new venture is launched in Berlin every 20 minutes and the city is predicted to produce 100,000 new jobs by 2020. The vibrant environment, music, fashion, style, art, history of the city attracts not just the tourists but also entrepreneurs from across the world to make investments in this city. Additionally, the easy visa application attracts software engineers to the capital city of Germany.
This small city-state has made it big in the startup zone. Surprisingly, the city has traversed the path from non-existent availability of cash for startup ventures to sudden abundance for the same in no time. The entrepreneurs are tapping into the emerging growth markets here, thereby resulting in explosion of accelerators.
The Tokyo city made by Nano blocks at the International Tokyo Show 2014 in Tokyo Big Sight on June 13, 2014. The fair, held from June 12 to June 15, attracts buyers and visitors by introducing the latest products presented by different makers from Japan and overseas.