March 31, 2016

Why Tech Companies Have Started Looking Outside Silicon Valley

Oh, the highly anticipated and “ever-so-glorious” Silicon Valley. Where the masses flood in search of that next big idea to take them to the limit.

Located in Northern California, Silicon Valley is home to many of the world’s largest high-tech corporations, as well as thousands of startup companies. But this isn’t news to you. What you maybe didn’t know is that the luring appeal Silicon Valley once held is quickly diminishing due to high startup costs and a still fragile economy.

In a recent article on gan.co, the author discusses why building your company outside of Silicon Valley could offer greater chances of success:

  1. You have a unique perspective
  2. You can easily earn respect
  3. You already stand out
  4. You have fans
  5. You’re an attractive investment

The author explains, “For these reasons and more, so-called “second-tier” cities — places like Pittsburgh and Cincinnati, Prague and Cairo — are quickly becoming more and more desirable locations to grow a startup. And we don’t see that trend changing anytime soon.”

Unlike Silicon Valley, entrepreneurs who decide to build their business in one of these emerging economies can take advantage of being in a less saturated local market.

Remember, just because something looks appealing and has proven successful for others, it doesn’t mean it’s a right fit for you or your business. If you’re already in Silicon Valley and struggling, it’s not too late to get out. If you’re considering moving there, stop and evaluate the pros and cons first — you may be surprised at what you find. Who knows, building your company outside of Silicon Valley may save it.

Read the full article on gan.co.


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