Silicon Valley, located in San Francisco, has always been known for its tech startups and innovative atmosphere. However, as real estate prices and the level of competition there continue to rise, literally into space, more and more companies and entrepreneurs are beginning to look for alternative places to thrive. In this article, we will look at six such alternative regions that can offer favorable conditions for the development of modern technologies and business opportunities.
Seattle, USA
Seattle attracts entrepreneurs because of the high concentration of programmers living here. This city is one of the most promising centers, where companies with different asset values are located - from small startups to corporations with billions of dollars in capital.
For example, the headquarters of the e-commerce giant Amazon stands proudly here.
This diversity creates a favorable environment for entrepreneurs with different business development prospects.
Pros: Affordable office rent: in downtown Seattle, you can rent a room for $270, which is at least $100 less than in Silicon Valley.
Cons: However, the city also has disadvantages: difficulties in obtaining visas for foreign workers, a limited number of available developers, and problems with attracting investment.
Toronto, Canada
The city is one of the leaders in terms of comfort for life, which attracts businessmen from all over the world. Many startups here grow quickly and easily become "unicorns" (reaching a market value of more than $1 billion).
Another advantage of this center is the workforce: Toronto universities annually graduate talented developers and other IT specialists.
Pros: Foreign businessmen can get a visa if they attract venture investments, tax benefits are provided for young IT companies, and renting office space costs from $120.
Cons: Investors in Toronto do not like to take risks and invest in "no-name" projects, they are quite conservative, so your startup risks not taking off.
Oslo, Norway
The most expensive, but also the safest place to do business. Norwegians are distinguished by honesty and professionalism, and trust and willingness to cooperate are their core values.
Norway moved up three places to sixth place in the World Bank's annual Doing Business rankings thanks to the leniency of checks and a small amount of registration bureaucracy.
Pros: StartupLab and Oslo International Hub incubators help foreign company owners integrate into the local community.
Cons: Large authorized capital and expensive office rent, due to the high standard of living, employees will demand high salaries.
Berlin, Germany
Many entrepreneurs prefer to choose this European capital to locate their headquarters. Every year, many events are held here, which allows businessmen to establish connections and develop international cooperation.
Pros: Rental prices are low compared to other European capitals - from 300 to 400 dollars. It is easy to get a business visa here, entrepreneurs constantly note the leniency of migration legislation.
Cons: Despite the lack of problems with financing even in the early stages in this city, investors allocate no more than one or two million euros, which is very little for a business. Therefore, entrepreneurs have to look for sponsors abroad.
Warsaw, Poland
If you're looking for the best programmers in the world, then Poland is a great place. The average salary for a developer in Warsaw is €30,000 per year, which is much lower than in Berlin or the United States, and due to its convenient location, Poland attracts many entrepreneurs. Investment funds also contribute to the development of the technology sector, in addition, the Wolves Summit, a major event for business, is held here every year.
Pros: Office rent is only 250-400 dollars, employees will demand average salaries.
Cons: Problems with transport infrastructure: the lack of major highways can cause problems with cargo transportation and logistics.
Tel Aviv, Israel
Israel's version of Silicon Valley is the pride of Tel Aviv. Thanks to the huge number of startups, Israel is recognized as a center of innovation, the shares of local companies are boldly and actively traded on the NASDAQ stock exchange.
Pros: This country has historically attracted many immigrants, which has a positive effect on the personnel issue.
Cons: The Middle East is currently the least secure region in the world. Inconvenient location in time zones adds problems.
