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Study ranks Charleston among ‘The Next in Tech’

Technology
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A new study ranked Charleston No. 25 nationally for its growing tech ecosystem.

TechNet, a bipartisan national network of tech executives, and the Progressive Policy Institute, a Washington, D.C.-based policy group, wanted to measure startup ecosystems around the country.

The resulting Metro Startup Economy Index was calculated by taking the percentage of job postings in a metro area containing the word “startup” and dividing that percentage by the median percentage for all metro areas analyzed.

The study identified the country’s 10 biggest technology hubs, and then listed the 25 cities that are “The Next in Tech,” or places with emerging startup communities. The 100 largest U.S. metro areas were considered for the study, but only the top 35 are included in the report.

Data is from an average of results collected in October 2016 and March 2017.

“Startup culture, which began in the garages of Silicon Valley, has spread across the nation,” said Linda Moore, president and CEO of TechNet, adding that, across the country, “entrepreneurs are launching new ventures in the hope that they can become the next big thing.”

The Tech Hubs

Rank

Metro Area

Metro Startup Index Value

1

2

3

4

5

6

7

8

9

10

San Francisco

San Jose, Calif.

Seattle

New York

Boston

Austin, Texas

Provo, Utah

San Diego

Chicago

Los Angeles

18.2

14.0

7.6

7.4

6.4

5.3

3.6

3.5

3.5

3.5

The Next in Tech

Rank

Metro Area

Metro Startup Index Value

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

Washington, D.C.

Atlanta

Denver

Salt Lake City

Portland, Ore.

Dallas

Raleigh-Durham, N.C.

Worcester, Mass.

Philadelphia

Nashville, Tenn.

Phoenix

Houston

Cincinnati

Richmond, Va.

Charleston

Madison, Wis.

Pittsburgh

Sacramento, Calif.

Charlotte

Baltimore

Cleveland

New Orleans

Minneapolis

Miami

Detroit

2.6

2.5

2.3

2.3

2.3

2.1

2.0

2.0

2.0

1.8

1.7

1.4

1.4

1.4

1.4

1.3

1.3

1.3

1.3

1.2

1.2

1.2

1.2

1.2

1.2

Source: Progressive Policy Institute and TechNet

The leaders behind the study said budding startup communities spur job creation and typically need support to thrive.

“Policymakers on the national, state and local level must pay close attention to startups — encouraging their formation and removing the obstacles to their growth,” said Michael Mandel of the Progressive Policy Institute, who performed the study.

“Put simply, this requires better regulatory policy, improved access to talent, and better access to markets and capital. Such startup friendly policies do not necessarily require large amounts of money. They do, however, require governments to do things differently than before.”

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