5 Best Cities Around the World to Launch a Startup

Forget Silicon Valley -- these five cities are thriving.

By Ceren Cubukcu

Nur Ismail Mohammed | EyeEm | Getty Images

This story originally appeared on Personal Branding Blog

When it comes to starting up a new technology business, the first place that comes to mind is Silicon Valley, which is located in San Francisco, Calif., USA. However, the rise of living costs and real estate prices is giving entrepreneurs a hard time because they already have a limited budget. For this reason, entrepreneurs should not forget that there are many alternative locations to found a new business that are much cheaper than Silicon Valley. Below you can find the five best cities, besides San Francisco, to launch a startup.

Related: 3 Simple Ways to Increase Empathy at Work

1. Boston, Mass., USA

Boston is the east coast version of San Francisco. It has a very educated population because it hosts more than 60 universities. Also, some of the most prestigious universities such as MIT and Harvard are located in Boston and this makes to find the necessary talent easier. Also, don't forget that both Bill Gates and Mark Zuckerberg began their studies in Boston.

2. Berlin, Germany

Berlin is one of the fastest growing startup ecosystems around the world. There are many startups headquartered in Berlin. Also, there are many accelerator programs and incubator centers to help entrepreneurs grow their businesses. It is in the middle of Europe and Germany has a very strong economy. Therefore, if an entrepreneur is targeting to be a business in Europe or wants to grow his/her business in Europe, Berlin is the place to be!

Related: The Do's and Don'ts of Asking for a Raise

3. Bangalore, India

Bangalore hosts around 4,900 active startups. It is one of India's leading tech cities since 1970s. It has low labor costs along with great technical talent. Moreover, there are plenty of early adopters in Bangalore so startups can showcase their MVP or finished products easily and find some active users. It has a great investor potential as well.

4. Istanbul, Turkey

Istanbul is the bridge between Europe and Asia. It is a very large city with a population of 15 million people and its population mostly consists of younger people. Mobile device ownership and internet penetration rates are very high. New business accelerator programs and incubator centers are opening up every year so getting into a program in order to grow your business is easier. However, it is an emerging market so one should be ready to be up against the challenges of an emerging market.

Related: Why Employer Branding Is So Important

5. Melbourne, Australia

Melbourne often competes with Sydney to be the tech city of Australia but Melbourne has lower living and real estate costs compared to Sydney. This makes Melbourne attractive for startup founders. Also, its people are open to new ideas and innovation and this makes finding early adopters easier. In addition, the business community is very diverse so startup founders from any industry can try their chances in Melbourne.

Related Topics

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Living

Invest in Yourself: 10 Things Every Working Woman Should Do This Year

When striving for success, it is easy to forget about your mental and physical health. But without health, you cannot fully succeed. Follow these ten lifestyle strategies for success in your personal and professional life.

Business News

This OnlyFans Star Was Once Part of a Fanatical MLM Cult. "I Was Forced Into Celibacy."

Cami Strella was lured into a multilevel marketing scheme but escaped to start her own six-figure-a-month business.

Marketing

This Is the Overlooked Tool Your Business Needs to Reach Your Target Audience

Voice search is growing, and your business can utilize this important functionality to get more customers. Here's how.

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.

Business Ideas

How to Make Thousands of Dollars on the Side As a Virtual Assistant

Apply your skills and experience to create a lucrative virtual assistant side hustle or full-time business.