Las Vegas Ranked Best City in America for Pre-IPO Startups
A state by state ranking of where startups have the best chance of success
The top 15 cities for Pre-IPO startups in 2023
Las Vegas displaces Austin as the best city for startups in 2023 based on data from over 6,000 pre-IPO startups that have raised money online from investors.
DENVER, COLORADO, USA, April 6, 2023/EINPresswire.com/ -- A Crowdfund Capital Advisors (CCA) study ranks Las Vegas as the best city in the country for startups. Las Vegas moved up nine spots to displace Austin in the 2023 survey. Irvine, CA; Nashville/Franklin, TN; Washington, DC, Naples, FL; Dover, DE; and Albuquerque, NM joined this year’s list, while Miami, FL; Carlsbad, CA; Portland, OR; Denver, CO; Philadelphia, PA; and Detroit, MI all dropped off the list of the top 15.
The annual study seeks to determine where startups have the best chance of success by using data from over 6,000 companies that have raised money online from investors, primarily in their communities. CCA compared the 100 biggest U.S. cities on data ranging from the amount of money invested into pre-IPO startups, the number of fundraising campaigns, the average valuation for companies, the number of investors in fundraising rounds, the success rate of campaigns, and the number of unique industries represented.
The Investment Crowdfunding advisory firm released the study Monday. “Startups and small businesses have vast local and regional economic impacts,” says Sherwood Neiss, Principal at CCA. “Not only do they provide innovative products and services to consumers both locally and nationally, but they also fuel local economies with tax dollars, spur employment, and create community pride and development.”
The top fifteen American cities for startups in 2023 are:
1: Las Vegas, NV
2: Austin, TX
3: Wilmington, DE
4. Seattle, WA
5. Atlanta, GA
6. San Diego, CA
7. Chicago, IL
8. Irvine, CA
9. Houston, TX
10. Nashville/Franklin, TN
11. Boulder, CO
12. Washington, DC
13. Naples, FL
14. Dover, DE
15. Albuquerque, NM
A combination of the number of startups raising capital online from community investors, deal success rate, average valuation, and the number of unique industries represented helped Las Vegas displace Austin for the number one seat.
“If one takes time to understand the entrepreneurial scene in Las Vegas, they will find all the key elements,” says Neiss. “Engaged civic leaders open to learning about the startup ecosystem, where they collaborate on the vision and provide government sponsorship of events, gatherings, and tax breaks. The community has training and mentorship programs for local entrepreneurs. It has benefitted from revitalization efforts from large companies and hosts trade shows, funding programs, co-working spaces, and a low living cost. This is why Las Vegas has become one of the fastest growing tech hubs in the country.”
“Affordable prefab housing company Boxabl, HVAC & Plumbing rollup firm Snowball Industries, and on-demand mobile IV drip therapy company ResetIV topped the Las Vegas list and highlighted the variety of startups,” says Neiss.
The Top 5 states for startups in 2023 are:
1: California
2: Florida
3: New York
4: Washington
5: Texas
According to the CCA Startup Viability Index, California is the best state for startups, given its blend of tech-enabled cities, infrastructure, highly educated workforce, entrepreneurial spirit, and investor enthusiasm. The most significant drawbacks to California are its tax structure and cost of living.
New York, Florida, Washington, and Texas follow. Florida, Washington, and Texas benefit from no state tax. New York, despite taxes, has so many appealing cities that it has managed to maintain its status near the top.
“Multinational corporations begin as startups,” says Jason Best, Principal at CCA. “They create roots in local communities, create loyal jobs that recycle capital locally, promote gender and race opportunities, and improve the standard of living regionally. Civic leaders that want to create local Silicon Valleys should focus on a checklist of activities to increase their ranking.”
Sherwood Neiss
Crowdfund Capital Advisors, LLC
+1 2022477182
email us here
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