TLDR:
- Pittsburgh is attracting European tech startups looking to break into the US market.
- The city’s location and culture, straddling the East Coast and Midwest, offer benefits for startups.
European technologists and entrepreneurs are turning to Pittsburgh as a prime location to establish their businesses in North America. Marek Hajn, cofounder of PocketSquare Ventures, highlights the challenges of navigating the differences between doing business in Europe and the United States, with Pittsburgh emerging as an attractive option. The city’s strategic location bridging the East Coast and Midwest is seen as appealing to startups seeking to expand into the US market.
Europe has historically faced challenges in venture capital availability for startups, but the landscape is evolving. While Pittsburgh experienced a dip in venture capital in the second quarter of 2024, overall investments in startups reached $3.12 billion in 2023. The city’s blend of Midwestern friendliness and East Coast openness creates a unique business environment that fosters collaboration and growth.
In addition to its well-established tech reputation, Pittsburgh boasts a strong industrial and academic presence, offering resources for European companies looking to relocate. Large research universities and active labs produce skilled graduates, contributing to the city’s tech sector growth. Hajn’s PocketSquare Ventures helps European companies tailor their sales message for the American market, emphasizing the importance of highlighting benefits over features.
Pittsburgh’s appeal has also caught the attention of foreign-owned firms, with more than 400 such companies employing over 55,000 people in the region. Organizations like the Pittsburgh Regional Alliance actively engage with potential investors and partners, traveling to Europe to spread interest and facilitate business connections. The city’s focus on tech and innovation, particularly in AI, aligns closely with the interests of European firms and entrepreneurs looking to establish a presence in North America.
