Move over, Silicon Valley. Colorado is building some serious startup swagger.
Four of the top 10 metro regions in the U.S. with the most tech startups are in Colorado: Boulder, Fort Collins-Loveland, Denver and Colorado Springs. That’s according to a report released today by technology policy coalition Engine and entrepreneurship research association the Ewing Marion Kauffman Foundation. The research focuses on high-tech startups specifically, defining them as new businesses with a concentration of employees in the fields of science, technology, engineering and math.
Here is a rundown of the U.S. metro regions with the highest ratio of tech startups compared to the national average:
- Boulder, Colo.
- Fort Collins-Loveland, Colo.
- San Jose-Sunnyvale-Santa Clara, Calif.
- Cambridge-Newton-Framingham, Mass.
- San Francisco
- Washington-Arlington-Alexandria, D.C.-Va.-Md.
- Colorado Springs, Colo.
- Cheyenne, Wyo.
- Salt Lake City
- Corvallis, Ore.
- Raleigh-Cary, N.C.
- Huntsville, Ala.
- Provo-Orem, Utah
- Bend, Ore.
- Austin-Round Rock, Texas
- Missoula, Mont.
- Grand Junction, Colo.
- Sioux Falls, S.D.
- Bethesda-Frederick-Rockville, Md.
- Durham-Chapel Hill, N.C.
- Portland-Vancouver-Beaverton, Ore.-Wash.
- Wilmington, Del.
- Ames, Iowa
As an entrepreneur looking for a startup community to launch your business, knowing where other entrepreneurs have planted their seeds may prove fruitful. And for local leaders, encouraging high-tech startup growth in your community could generate jobs. While high-tech startups have an undeniably high failure rate, those that do succeed take off quickly. On the whole, high-tech startups are good for the local job market, according to the research.
A thriving startup community that's creating jobs typically attracts vitality -- and cash -- to a region. "In the case of Boulder, a startup community whose evolution I've observed and participated in closely over the past many years, the cultural and economic transformation has been extraordinary,” says Brad Feld, co-founder of the Boulder-based Foundry Group and author of numerous books about startup ecosystems, in a statement. “While there isn't one, definitive blueprint to building a technology industry, this research can hopefully inspire communities and policymakers to work together to ensure that the spread of high-tech entrepreneurship isn't just a trend, but a long-term phenomenon.”