The Israeli city of Tel Aviv is home to nearly 438,000 people, and is the start-up capital of the world. The city is home to more than 2,500 tech start-ups, and has the highest number of Nasdaq companies of any city in the world. A bestseller about Israel’s economic miracle, Start Up Nation, describes the city as “The New Silicon Valley.”
While Washington, DC has historically been a hub for government agencies, the start-up scene is exploding. Contactually, FiscalNote, and GoDaddy are all rising from this region. Almost every industry is seeing disruption in the area, thanks to local investments. GAN, for example, works with start-ups within 50 miles of its headquarters. The government has a huge role to play in fostering the start-up ecosystem, but it is doing little to help the entrepreneurs.
The United States used to be the start-up capital of the world, but that is changing. Earlier, America had a monopoly on start-up activity. The rapid rise of potent start-up hubs in other regions of the world has diluted the dominance of Silicon Valley. Despite this, the U.S. is still the start-up capital of the world, but successful startups no longer need to launch in Silicon Valley to raise funds. For many, the U.S. government’s focus on immigration is limiting the flow of highly skilled people.
Another notable start-up in Tel Aviv is MyndYou, which is based in the SOSA hub in Tel Aviv. SOSA aims to bring Israeli entrepreneurs and big corporations together. With eight million inhabitants, Tel Aviv has become increasingly attractive to innovators and entrepreneurs. The Israeli government has a long history of supporting technology start-ups. But that has not stopped the city from attracting new businesses from other parts of the world.
Another recent success is Hatchbuck, which offers marketing automation and customer relationship management software. The company was founded by Jonathan Herrick and has raised $10 million in investor funds. It also took advantage of the T-REX co-working space in Memphis. Its space offers 160,000 square feet of space, a great place for entrepreneurs to create their businesses. There are countless resources for start-ups in Memphis to help them plan their strategy.
Regulatory uncertainty, frequent changes, and lack of clarity are key issues that young entrepreneurs are sensitive to. Government policy should focus on creating an environment where new businesses can flourish. In doing so, it will unleash the creativity and innovation of young entrepreneurs. Fortunately, there are many benefits to this. The government is starting to recognise the value added by startups. In the meantime, the government is taking measures to ease these burdens. If these measures are not implemented, the start-up community will continue to suffer.
Denver’s start-up ecosystem is one of the best in the world, and it encourages entrepreneurial spirit and entrepreneurship. The city is home to many influential individuals in business and in the arts. This can be leveraged to form collaborative business ventures. For example, Forkly, a Denver-based start-up, has partnered with internationally renowned chefs, local businesses, and a number of national brands to launch a new concept.