San Francisco is best city for startups

San Francisco, home to the Golden Gate bridge and Alcatraz, is the best city for startups, according to a recent survey, with data from StockApps.com giving an overall score of 550.

What makes San Francisco so startup-friendly? For one, the city has a long history of tech innovation. And today, the city is home to more than 8,000 tech startups.

The second-ranked city, New York, earned an overall score of 217.

“San Francisco and New York remain top spots as the best places for a startup to flourish. Because of its overall score, San Francisco is the ‘supernova’ of startup ecosystems,” explained StockApps’ Edith Reads.

“New York City should be commended for continuing to have the world’s second-best startup ecosystem, as it was last year.”

Silicon Valley

San Fransisco’s proximity to Silicon Valley contributes to the presence of many skilled people inside its borders. There is a culture of innovation, talented engineers, high-quality institutions, venture investors, and entrepreneurs, added Reads.

New technology companies heavily influence the culture of doing business in San Francisco. The people who work in this industry collaborate on moving it ahead by exchanging ideas. Because of this, it is the perfect place to call home if one fancies new technologies.

 Regarding growth and innovation, the software and data industries stand out as the frontrunners, the StockApps survey showed.

The social and leisure technology sector is the most dynamic, following the software sector. Conversely, the e-commerce and retail technology sector has fewer startups.

Technology in the financial and medical fields are two more dynamic sectors with enormous growth potential.

Financial technology (FinTech) has already begun to change how people interact with their finances. In the medical sector, mobile health (mHealth) startups are working to make it easier to track and improve health.