74.5 F
68.3 F
69.7 F
64.3 F

Birmingham a top destination for startups, founders

Birmingham has always been an economic hub. Though known for its steel production in decades past, the city continues to reinvent itself in unique ways. 

One of those ways has been its magnetism for startup companies and the founders who get them off the ground. 

New data shows Birmingham is on the map with the most founders per capita with the likes of Dallas, Boston and California’s Silicon Valley.

Birmingham even ranks ahead of startup hotspots Portland, Philadelphia Phoenix, and Las Vegas.

RELATED: Study: Entrepreneurship growing in Alabama

Within the state, Birmingham holds a major gap between other hubs, according to findings from LiveData Technologies. 

(LiveData Technologies/Contributed)

Birmingham’s founder boom is likely driven in part by a low cost of living. For new startups operating on new startup budgets – affordability is a lifesaver. 

The city also has an extensive network of accelerators. 

From the University of Alabama at Birmingham’s business research impact to SLOSS.Tech bringing together some of the most innovative minds and expansive offering of coworking and networking spaces, Birmingham is intentionally motivating founders. 

RELATED: CROUX, VivoSphere win Alabama Launchpad cycle

On the state level, Alabama Launchpad offers early stage funding and business coaching to startups, holding four competitions per year, each offering up to $150,000 in investment.

While some cities are known for their concentration in a particular sector, such as tech or finance, Birmingham’s startups span a range of industries from healthcare and biotech to fintech and e-commerce.

RELATED: Innovate Alabama awards millions to small businesses

Grayson Everett is the state and political editor for Yellowhammer News. You can follow him on Twitter @Grayson270

Don’t miss out!  Subscribe today to have Alabama’s leading headlines delivered to your inbox.