This Top 10 U.S. City for Entrepreneurs and Startups according to Business.org (2018), proclaimed Minneapolis’s start-up growth — a remarkable 121.3% along with the state’s inexpensive cost of living is encouraging startup growth. The city’s tech pay of $103,271 is almost twice as high as the average state wage. The Tech Tribune in 2021 compiled the best tech startups in Minneapolis considering factors like revenue potential, leadership team, brand traction and competitive landscape. Its top five startups include Gravie, When I Work, NovuHealth, ClickSWITCH and Revel. The tech sector has an estimated direct economic impact of $31.1 billion, or about 9.3% of Minnesota’s total economy. (CompTIA’s 2019 Cyberstates Report).
Baltimore is affordable and close to other East Coast hubs making it attractive for startups. The tech-ecosystem in Baltimore is incorporating workforce development programs, funding efforts and partnerships. For example, a new Baltimore-based startup organization called UpSurge aims to provide mentorship, networking, educational tools and resources for entrepreneurs who anchor their companies in the city. UpSurge targets startups focused on using tech to improve equity highlighting women founders and people of color. Many partners have committed funds to support UpSurge, including Brown Advisory, the Johns Hopkins University, the University of Maryland and T. Rowe Price Group. South Baltimore also aims to attract more cyber companies in a vision dubbed “Cyber Town USA” at Port Covington.
The city is witnessing a surge of tech startups and IT jobs that are expected to rise by 6% through 2024. Tampa is strong in cybersecurity, back office and startups around the MSP (managed service provider) space. Forbes recently named it among the “Top 10 Best Cities for Young Entrepreneurs.” The Tampa Bay Economic Development Council is collaborating with city and county partners to foster economic opportunity for residents of underserved districts and attracting development to underserved communities to ensure the focus is on projects that positively impact local communities. Top startups include: vxchnge, Healthmap Solutions, Peerfit, ComplianceQuest and Homee.
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