Best Cities in the World to Launch Startups
Beijing is one of the leading cities in the world as far as launching startups is concerned. The scenario over there is changing of late with a number of entrepreneurs breaking out of the traditional mold and achieving success in their chosen fields. These organizations have inspired a lot of young people to follow their lead. At present, high-end and profitable manufacturing is the main focus of China, which seems to represent a clear shift from its status as a manufacturer of economic and low-end consumer goods. What further helps is that China offers maximum tax deductions of RMB 9600 for startups.
This is especially applicable for companies set up by people who have recently graduated from their colleges and ones who were previously unemployed. The government also set up a venture capital fund in early 2015 to help seed-stage startups. The Torch Program, which is a 27-year-old initiative being run by the Ministry of Science and Technology, presently has a minimum of 1500 incubators and offers policy, consulting, and financial services for hi-tech companies.
Its neighbor Singapore may be better known for the strides it has taken in the domain of entrepreneurial development but the Malaysian capital Kuala Lumpur happens to be a low-cost alternative, especially in terms of living. This is the reason there are so many startups that are officially registered in Singapore but work out of either Malaysia or Thailand. The advantage of Singapore is that a significant amount of public and private entities are putting money in new companies and this makes incorporation easier. The test market in Kuala Lumpur, and Malaysia in general, is bigger than in Singapore. Its local population – a mixture of Chinese, Indian, and Malays/Indonesians – also provides one a glimpse of how a product could potentially fare in the bigger markets.
The internal market in Poland is much bigger than in neighboring countries like Czech Republic and Slovakia. The country also has a commendable history of entrepreneurship. Allegro, which was bought by Naspers, LiveChat, Wirtualna Polska, Nasza Klasa, and Onet are some of the successful startups of the Polish capital. Google was also looking to set up a campus over here by the end of 2015. The government also sponsors events such as Bitspiration, the largest and most advanced startup conference in Poland, which only adds to the overall environment. Other than Warsaw, Krakow, Gdansk and Wroclaw are the main centers for entrepreneurial activity in Poland.
These days Russia in general values entrepreneurship to a greater extent than before. What helps Moscow significantly is a vast pool of engineering talent, a heritage that can be attributed to the Soviet-era developments in the country. There are plenty of hardware enterprises as well. Usage of internet is also being emphasized upon to a greater extent. There are also several investors and a few entrepreneurial events are organized to foster such enterprises.
When it comes to India, Bangalore is the top name for setting up a startup. In fact, there are some other cities in India that can also be regarded as good destinations for starting a company such as Mumbai, New Delhi, Pune, and Chennai. Bangalore has a large market and an almost-unending supply of engineers. Normally, the startup industry in Bangalore is focused on tech development and engineering solutions. Bangalore also has plenty of events on a regular basis for startups such as DemoDays, conferences, targeted hackathons, competitions, and meetups. These are mainly organized by the corporate outfits.
The biggest advantage that Sydney has as a startup destination is its flourishing ecosystem that always keeps getting better. A lot of collaborative events are organized here on a regular basis such as open houses, fireside chats, networking events, and fishburners. The government provides 45% tax discount in case of research and development projects and capital expenditures under AUD 20,000 are tax deductible. The government is also aiming to alter the present system whereby employees are subjected to taxation on the basis of the salary they are expected to receive.
The ecosystem in Tunis is still developing especially in terms of the financing, mentoring, and coaching facilities available in the Tunisian capital. It was basically the Arab spring that acted as the turning point for fostering entrepreneurial spirit among the people. These days, the focus is primarily on civic entrepreneurship. The startups in the region create products that can be used to mobilize communities by ways such as political discussions. The basic aim is to get people working for the greater good. The legislators are also coming up with fresh programs and plans to help incubation, education, and acceleration of entrepreneurship. The Integrated Development Program, being run by the Regional Development Commission is one of such initiatives. It works in the local community to gather feedback on issues such as priority projects, the best options for going ahead, and various target locations.
Following are certain other cities that are regarded as the most viable startup destinations in the world:
Amsterdam, Athens, Austin, Berlin, Birmingham, Boston, Chicago, Glasgow, London, Los Angeles, Melbourne, New York City, Paris, among others.
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