8 Rising Tech Hubs of the World
Growing a start-up is a lot like growing a plant. It requires a certain amount of resources in order to thrive, and some cities in the world have cultivated ideal environments for such growth. For the best chances of survival and success, a start-up needs an area with a history of investment in technology, access to plenty of young talent, including those fresh out of university, and a purpose. Naturally, taking root in the right place is key to long-term success, and these cities offer some of the best conditions for tech start-ups to grow.
Heralded as the new Silicon Valley, Eindhoven has made a name for itself as one of the most inventive cities in the world. With specialties in hardware design, the output ranges from 3D printing and forward-thinking electric cars to biodegradable implants designed to replace traditional vaccination. Part of the reason why Eindhoven has generated so many success stories is its popularity amongst tech-savvy developers and entrepreneurs, with more than 11,000 forward-thinking tech minds currently living and working in the city. Of course, the Eindhoven University of Technology is another hub for creative ideas, that each year produces thousands of tech-savvy graduates ready to join and develop the industry.
India has been on the radar as a potential start-up paradise for more than half a decade, particularly in the city of Pune, and much of the potential can be attributed to favorable conditions. Development in the city has been largely focused on co-working spaces and educational facilities which, coupled with a strong nightlife culture and surprisingly efficient transportation, has reeled in a great depth of young talent and innovative ideas. Pune is proof that there are opportunities for entrepreneurs in every sector, from taxi booking platforms to restaurant discovery, and exam preparation to home loans, but it isn’t all serious – fantasy games of cricket have also proven extremely popular.
As far as offerings go for tech-loving college graduates, Nicosia offers ideal conditions. Wannabe business owners typically choose this location for its low start-up expenses and relatively strong prospects for high income, but it’s also very much on the pulse of modern technology – so much so that controversial cryptocurrency has become part of daily life for some residents. Bitcoin can be traded in place of ordinary cash, and brick-and-mortar Bitcoin trading stores have also been developed. This trendy culture has garnered interest from companies like NCR and TSYS, both of which have set up a base in the city, and several start-ups rooted in social media and the online world at large are performing well. Not lastly, the raising online casino industry also has a strong presence in the island, as plenty of casino operators and online slots portals run their operations from Nicosia.
Built on a culture of manufacturing and a wealth of financial expertise, Hong Kong has long had strong conditions for nurturing successful start-ups in the tech industry. The city’s fast internet and distinct lack of online censorship make it attractive to budding business owners and tech-savvy young talent, many of whom have taken advantage of the start-up oriented networking opportunities which have emerged over the past decade. As seen in Nicosia, several businesses in Hong Kong have also cashed in on the recent popularity and potential of Bitcoin trading, particularly the country’s most successful start-up, BitMEX.
When it comes to hosting tech giants, Dublin has an impressive resume. Ireland’s capital is home to the European headquarters of Google, Facebook, Amazon, and LinkedIn, and it might have something to do with the city’s low corporate tax rate. Along with the presence of credible universities and a generally young population, lower costs are a huge drawcard for young entrepreneurs, which makes significant tech growth a likely prospect for the near future.
Malmo has a proud history of attracting investment and young, inspired people with their tech startups.
Boasting more patent applications than you can poke a stylus at, the city is also home to a few businesses whose outputs have become household names. Tech start-up King is amongst the largest success stories since launching “Candy Crush Saga” back in 2015, but Malmo has also used new developments as opportunities to revolutionize and streamline the technological aspects of the healthcare and tourism industries.
Tel Aviv, Israel
As the world’s most popular start-up hub, Tel Aviv owes a lot to its history of flexible social hierarchies and a lack of respect for authority, traits which created the melting pot of new ideas and innovation of today. The city has no shortage of shared workspaces designed specifically to meet the needs of young creatives, as well as 8000 square meters of office space belonging to Google, which can only further bolster opportunities for graduating students.
Santa Monica, California
Santa Monica’s beachside lifestyle is like a magnet for students and young professionals and has become a huge drawcard for tech start-ups in the area. It’s so popular, in fact, that start-up accelerators – companies organized for the specific purpose of assisting new start-up businesses – have set up camp in the area. The city boasts a few big-name success stories, including the renowned mental health company, Headspace, with its popular meditation app, and the rising streaming platform Hulu.
Thanks to a host of rising talent and interest in the tech sector, the future for these cities is looking LED-bright and primed for growth. Those interested in a career at the forefront of new developments and revolutionary ideas in the tech sphere would feel right at home in any of these cities.