Looking for a place to launch your startup? Cities often tend to have the best startup support networks. Some cities can be particularly nurturing towards new businesses offering plenty of places to seek funding and plenty of office space/coworking space. Below are just some of the top cities for launching a startup.
Singapore
Singapore has long been used as a base for businesses wanting to access the East Asian market. It’s a particularly great city for startups as it’s home to many investors and there’s a huge support network for emerging businesses.
The cost of living is fairly high compared to other cities in the far east, but is relatively equal to many western cities. Most people live in apartments such as these condos at Thomson Plaza. Owning a car here can be very expensive, however there are great public transport links to make up for this.
San Francisco
San Francisco is home to Silicon Valley – the tech capital of the USA where Google, Facebook and Apple have headquarters. If you’re a tech startup, you’re likely to feel at home in this city. Of course, it’s not just tech companies that thrive here but also companies from many other industries including fashion and finance.
One of the reasons San Francisco is such a startup magnet is because it is full of venture capitalist firms willing to invest money into new businesses. In fact, in 2020 alone, a whopping 46 billion USD was invested into startups by VC firms – more than a third of all the money invested into startups across America.
San Francisco is notoriously expensive to live in, which could put some startups off. Austin, Salt Lake City and Denver are other great US cities for startups with slightly cheaper living costs.
London
London is another great city for startups. It’s known largely for being home to many of the world’s biggest finance companies, however industries such as tech and retail thrive here too. Investors here pour huge amounts of money into startups. The city also has the largest amount of co-working spaces of any city in the world and also has a low-cost startup visa program that makes it easy for expats wanting to settle here.
Like San Francisco, London is definitely not a cheap city to live in. Some areas like Bexley and Croydon are more affordable and could be worth focusing on. Startups looking for a cheaper UK city to plant their roots may want to consider Bristol, Birmingham or Belfast.
Vancouver
Vancouver has garnered a reputation for being Canada’s startup hub. They’ve spawned various rising B2B tech companies in recent years including Slack and Hootsuite. Construction and healthcare are also booming industries here.
You’ll find plenty of venture capitalists that provide funding for your business. The city also provides generous grants to startups and there are unique tax benefits for startups too.
While it’s one of the more expensive Canadian cities to live in, it’s not as expensive as many western cities. Toronto is the next best city in Canada for startups.
Tallinn
The secret is out when it comes to Tallinn. The Estonian capital offers so much for startups and as a result business owners are now flocking there. Some of its perks include its strong public wifi, its free public transport and its low tax for entrepreneurs. As one of the most environmentally-friendly cities in the world, it is particularly well-suited to green businesses.
Tallinn is relatively cheap to live in compared to many of the cities on the list. This is another bonus of settling here to start a business.
Berlin
Berlin is very welcoming to outsiders offering affordable visas and free university education to residents and non-residents alike. There are many initiatives for startups in this city and plenty of co-working space and affordable offices. This could make it another great place to launch your business.
Berlin can be expensive to live in, but there are some good deals to be found on property if you take the time to look around.
Stockholm
Stockholm is the Silicon Valley of Europe – many big tech companies like Spotify, Skype and Minecraft were spawned here. The city has a great startup ecosystem. Entrepreneurs can seek help from the city’s large pool of venture capitalists and take advantage of the many government startup incentives.
The cost of living in Stockholm can be quite high – things like alcohol and haircuts are known to be more expensive than many places in the rest of Europe. This could be something to consider when moving here. The cities of Gothenburg and Malmo have become popular for startups recently and are a more affordable option.
Istanbul
Istanbul has become a popular city for startups in recent years. It’s location makes it the perfect place for accessing both the European and Middle Eastern market. You’ll find a lot of incubator schemes and angel investors in this city.
Although quite pricey to live in compared to the rest of Turkey, Istanbul is fairly cheap to live in compared to many other big European cities. This makes it much easier to find one’s feet as an entrepreneur.
Sydney
Sydney is the best place to launch a startup in Australia. You won’t struggle to find funding in this city and there are a lot of resources out there for startups including courses and co-working spaces. Finance, tech and retail are some of the popular industries spawned here.
Living costs can be high in Sydney. However, prices get much more affordable the further you’re willing to live from the center. Melbourne and Perth are two other cities with great startup support networks that could be slightly cheaper to live in.
Tel Aviv
Tel Aviv in Israel could be another place to kickstart your entrepreneurial dreams. It’s not difficult to find funding here – you’ll find many venture capitalist firms and startup support schemes in this city.
Like many of the cities on this list, Tel Aviv is not cheap to live in. Property can be very expensive, but it is possible to save a lot of money on other living costs.