Not my valley, not my valley. That seems to be the theme for startups in the fintech world. A comprehensive study by Startup Genome has concluded that "The Valley's" pedigree is facing worldwide competition for the best and brightest innovators to start the next Apple, Google, etc. Now, nothing wrong with the Bay Area but some of these new fintech hub cities are very cool and exciting. A great read and insight.
(Bill Taylor/CEO) "There’s no cooler biz on the planet than startups, and there’s no denying Silicon Valley is the startups capital of the world… for now...
...Who knows — maybe one will be home to the next Mark Zuckerberg or Elon Musk.
The 150-page report is based on a year’s worth of research, spanning a whopping 10,000 startups and 300 partner companies. This is Startup Genome’s third comprehensive report, based on speaking with entrepreneurs and massive amounts of data on startups...
...It may not come as a great surprise but this year’s top three startup ecosystems are Silicon Valley, New York, and London. However, there is a lot more to the report than the top few places. We at TNW wanted to take a closer look at each of the four regions detailed in the report...
...The biggest news for the Americas is perhaps that the US is losing dominance to Asia and Europe. Los Angeles and Chicago, for example, had the biggest drop of the top 20 cities, mainly due their lowered scores in ‘global connectedness’. However, the US is still prominent within the Americas (and the world), with seven US cities in the top 20.
Silicon Valley is still number one in most categories; however, the tech mecca has been ousted by Singapore when it comes to talent. High salaries are one of the main factors why Silicon Valley has lost first place, along with the difficulties of early-stage startups to attract experienced talent.
Despite two cities in the Americas having lost their seat in the top 20, Montreal and São Paulo, there are a lot of interesting startup ecosystems outside the US to look out for. Gauthier especially points out the Toronto-Waterloo innovation corridor.
Toronto moved up on place and is now number 16 in the rankings. According to Gauthier, this is mainly because of how well Toronto-startups are connected to the global community. The main challenge in Toronto is that early-stage startups have some difficulties with accessing experienced technical and growth talent..."
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