Chicago’s Innovation Advantage Over Silicon Valley

Chicago

We at FintekNews are from the great city of Chicago and always have a fondness for the Super City (it really is) and the “get it done” attitude and innovation. Now with the tech sector booming Chicago is becoming the “go to” place for tech startups. A new KPMG report echoes that times 2. So, Chicago has advantages over Silicon Valley? One word of warning; THE WEATHER. All else, go Windy City, Go.
(Bill Taylor/CEO)

“The entrepreneurial spirit in Chicago has never been more alive. Over the last 3 to 5 years, there’s been a growing buzz in Chicago’s technology community. As a Chicago native and tech entrepreneur, I’ve had a strong sense that something has been brewing in the city–a visceral feeling without much tangible explanation; a feeling of excitement, optimism, intensity. The contagious energy has been an element and driving force behind a renewed creative culture, generating activity in Chicago’s tech startup scene.

Now, the thriving spirit in the tech community is manifesting into global recognition. Among other up and coming cities, a new KPMG report lists Chicago as a contender to be an international hub for innovation because of its talent and infrastructure.

A developing startup ecosystem has helped foster more than $1.7 billion in funding in 2016 and has given rise to a raft of promising new companies. Uptake, the latest Chicago-based startup to reach a billion dollar valuation, even beat out Slack and Uber to be named the hottest startup of 2015.

In addition, Chicago also ranks among the best in the country when it comes to growth of tech jobs. This is not surprising considering the number of high-profile tech companies in and around Chicago: Salesforce, Google, CareerBuilder, Orbitz, Groupon, Redbox, Motorola, and many more.

But if you take a closer look, you’ll see that Chicago’s potential for innovation lies deeper than growth in the tech sector. While growth in venture capital, tech talent, and new blockbuster startups can certainly help, Chicago’s greatest and most unique asset ultimately boils down to one thing: culture.

Whereas Silicon Valley attracts the most brilliant technologists, and New York City attracts those who value big living and opulence, Chicago attracts the…”

Source: Inc.com