TLDR:
- Silicon Valley has been the envy of many U.S. cities for its high tech business hub
- Investments in venture capital in various metro areas hint at emerging tech hubs
In the article “Cities Emerging As the Next Silicon Valley” by 24/7 Wall St., it is highlighted how various cities across the U.S. are starting to emerge as potential high tech hubs, following in the footsteps of Silicon Valley. The focus is on analyzing the increase in venture capital investments per capita in different metro areas from 2017 to 2022 to determine the cities that are becoming the next Silicon Valley.
The San Francisco-Oakland-Fremont and San Jose-Sunnyvale-Santa Clara metro areas still attract the most venture capital investments, but other cities are catching up. For example, in 25 metro areas, venture capital investment per capita grew significantly, ranging from $598 in Reno-Sparks, Nevada, to $4,871 in Carson City, Nevada. These cities are spread across the country, including major business hubs like New York City, Miami, and the Research Triangle in North Carolina.
The analysis took into account factors such as STEM occupational employment, college attainment rates, and total population to determine the emerging tech hubs. Cities like Boulder, CO, Boston, MA, and Carson City, NV, showed significant growth in venture capital investments, with per capita numbers rivaling those of Silicon Valley. These cities are investing in higher education, skilled workforces, and companies, positioning themselves as potential hubs for innovation and technological advancement.
