4 Ways Atlanta Is Becoming a Silicon Valley Competitor
Everyone knows that some of the world’s largest technology corporations reside in the Silicon Valley of California, and it’s hard to compete with the area’s wealth. However, the Bay area isn’t the only United States tech hub. Atlanta, Georgia is also a major player in the technology sector.
As far as technological advancements and major tech companies are concerned, Silicon Valley is far ahead of Atlanta. However, when it comes to small tech businesses and startups, aspiring entrepreneurs will have a tough time in the Silicon Valley. The Bay area is one of the worst places to begin a company, but those dreams have often been realized simply by visiting Atlanta Tech Village or Tech Square in Georgia.
The tech industry in Atlanta is already quite impressive, and there is always room for growth in the technology business sector. Atlanta grants more than 1,500 patents to new businesses alone for new technological innovations every year. It’s also been named one of the best places to start a business by Forbes. This is just one of the many reasons that Atlanta is defining itself as the East Coast’s version of Silicon Valley, but here are a few more:
1. Atlanta’s Economy Is Rising
It’s true the Silicon Valley’s economy is booming, and the average salary for a tech job is the highest in the nation. However, Atlanta isn’t far behind. The city took a significant hit in the 2008 financial crisis, but it’s been steadily gaining speed in the tech industry. According to a chart from 42 Floors, “The Atlanta metropolitan area is considered the eighth-largest economy in the country and the sixteenth-largest economy in the world.” This booming economy is largely a result of their determination to put startup companies on the map.
2. Woman-Owned Businesses Can Make It in Atlanta
Georgia is currently one of the best states for women-owned businesses. In fact, it was the number one state in 2013, according to the Atlanta Business Chronicle. The Bay area has always been high on the list of regions that support women-owned businesses, but they haven’t reached the top. Prominent women-operated businesses including Partpic and Rimidi got their start in Atlanta, and have already been largely successful at expanding their businesses.
3. There’s No Shortage of Fortune 500 Companies
With the third largest concentration of Fortune 500 companies in America, Atlanta can certainly compete with the major concentration of high-profile businesses in Silicon Valley. However, Atlanta’s businesses are far more willing to work with the surrounding startup businesses to help them get a leg up in the industry. What’s more, British tech firms looking to infiltrate the United States tend to gravitate more often towards Atlanta than larger tech hubs because of the success rate for startups. This means they’re slowly going international.
4. Atlanta Has Drive
If you look into the history of Atlanta, you’ll see that it hasn’t had an easy time staying at the top. However, it continually works to rebuild itself, both figuratively and literally. It’s the only United States city to have burned entirely to the ground twice and then picked up the pieces and started over again. This idea has translated to the way they handle new entrepreneurs and tech jobs.
The city has a drive to stay afloat, come recessions or natural disasters. It’s the sheer determination of Atlanta to help startups and small businesses rise to the top that will have the Silicon Valley watching their backs in the future.