Chicago hosts some fastest growing companies in the USA. That’s why business experts are predicting that Chicago will turn up to be a hot spot for the best tech startups. Chicago has a lot of features that makes it an ideal place to start a technology company.
1. Diverse industry
Diverse industry like United Airlines and Boeing have their offices here. Chicago has a diverse range of industries. There is health care, educational services, technology services, transportation services, and much more. These big businesses give opportunities for small businesses. Startups are more interested in B2B companies.
2. Funding opportunity
Because of advancement in technology, it is now possible to start a business with much lower capital than it used to be before. You will find good venture capitalists in Chicago. Early stage funds, crowd funding, and angel investors are the ways of raising capital here.
3. Availability of tech talents
Hundreds of computer scientists and engineers graduate from the University of Illinois at Urbana-Champaign every year. This University is ranked sixth regarding its engineering program in the USA. These graduates enter the job market and help the tech companies to grow. But many of them are lured to move to the Silicon Valley. The Mayor of Chicago has arranged various programs to motivate graduates to remain in Chicago.
The cost of living in Chicago is lower than most of the other states. The city provides many opportunities for new businesses. It is the best place to start your next tech venture.