Welcome!

News Feed Item

Is Your City the Next U.S. Tech Hub?

Emerging Tech Clusters Offer the Benefits of Silicon Valley, Without the Cost

CHICAGO, IL -- (Marketwired) -- 08/06/14 -- Turns out Silicon Valley isn't big enough for the latest tech boom. Other tech hubs are popping up across the nation. New kids on the block, including Phoenix, Minneapolis and even Indianapolis, want a piece of the action.

Other cities are jumping in too. Chicago Mayor Rahm Emanuel is pitching Chicago as the Midwest's answer to Silicon Valley. He's promoting a digital incubator called 1871 and recently announced a $70 million grant to build a Manufacturing and Design Innovation Institute known as Digital Lab.

But what can these new Silicon-esque locations offer to emerging tech companies? Plenty, as it turns out. These cities have strong pools of tech talent associated with their local universities, a friendly business climate and an established pipeline of venture capital funding.

And, more reasonable real estate costs.

Real estate is typically the third-largest expense for tech firms, after salaries and IT. In Silicon Valley, average office rental rates run at $35.40 per square foot compared with Indianapolis, which clocks in at $17.15 per square foot, JLL research shows.

Forbes contributor Joel Kotkin, who last year offered a list of surprising cities creating the most tech jobs, believes that Indianapolis, a city that is generally less expensive than the trendier cities, could attract more tech investment once the current bubble conditions die down.

"This is a two-way street," said Greg Matter, co-head of JLL's tech brokerage group. "Tech companies are seeking talent and space wherever they can find it and cities are vying for these companies to boost their economy and position them as the next Silicon Valley."

The Twin Cities, for example, has developed a robust start-up environment, attracting high-profile IT companies such as computer manufacturing, software development and mobile apps. Google recently formed a partnership with local co-working provider CoCo as a way to tap into Twin Cities IT talent.

In Phoenix, local municipalities, state universities and incubators are driving high-tech start-up activity in the region. Arizona State University's SkySong project helps companies grow by providing capital networks and access to skilled labor. GoDaddy and Isola recently expanded in the region by leasing 150,000 and 25,000 square feet of office space, respectively.

"As the tech boom continues, we will see more surprising locations claim the tech hub moniker," said Matter. "Silicon Valley is not going away any time soon, but tech firms should quickly set their stake in the ground in the new emerging locations before they are priced out of the market."

EMBED VIDEO:
https://www.youtube.com/watch?list=PLlxyPWiQ--BZ5l9swJ9MjtKoCw-i9qlJo&v=r_LP_Sj6bXE&feature=player_embedded

Embedded Video Available

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2649567
Embedded Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=2649591

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...