What better way to start 2020 than being mentioned in Inc.’s list of best cities to start a business. According to Inc. and innovation policy company Startup Genome, Austin is leading the country when it comes to job creation and high-growth company density. On top of that, we’re fourth in early-stage funding.
There’s a new generation of startup companies that have been transforming Austin’s market, and it’s exciting to witness founders who are developing amazing startups every day. The article mentions local favorite consumer product companies, which Capital Factory has had the chance to collaborate with, such as Yeti Coolers and Kendra Scott. They’ve been making a huge impression on the city, along with the rising Siete Family Foods startup which recently raised $90 million and tripled its nationwide distribution. We haven’t had the pleasure to work with Siete Family Foods yet, but we’d love to collaborate!
“Austin is one of the few markets that is able to support a full range of startups— like Silicon Valley or New York,” says Joshua Baer, the founder of Capital Factory, the city’s dominant startup incubator. –Tom Foster for Inc.’s The 50 Best U.S. Cities for Starting a Business in 2020
Inc. refers to Capital Factory as “the city’s dominant startup incubator,” a title we’re more than happy to accept. However, there are many incubators, accelerators, and VC’s around town that we have been proud to work alongside— Techstars, Austin Technology Incubator, Central Texas Angel Network (CTAN), Silverton Partners, and LiveOak Venture Partners to name a few. Getting Austin to the top of Inc.’s list has been thanks to everyone’s amazing efforts in the startup ecosystem.
Texas is a Powerhouse
The list doesn’t just stop at Austin. Dallas/Fort Worth and Houston were ranked №29 and №45 respectively, which is incredibly telling of the impact Texas has on the nation’s economy. Each city has its strengths: Dallas/Fort Worth has an abundance of large companies with the funds and capital to assist startups, while Houston excels in energy, space, and the medical technology field.
Capital Factory’s Texas Startup Manifesto is an effort to turbocharge collaborations across the state in order to help connect the critical components of the startup ecosystem and create real change in the world. Simply put: we’re stronger together. Since announcing our commitment to the Texas Manifesto in 2017, we’ve been leading collaboration efforts between Austin, Dallas/Fort Worth, Houston, and San Antonio through numerous summits, roadshows, mentorship, hackathons, pitch competitions, “Ask Me Anything” sessions, and much more. You can check out our upcoming events here!
The results from Inc.’s 2020 Surge Cities index prove that there’s massive value in working together— as a Texas Startup Megatropolis we can unlock billions of dollars in capital and unleash thousands of diverse entrepreneurs, changing the world for the better.
We feel privileged to be part of Austin’s rise as a hub for a diverse range of startups, and we can’t wait to see what we can help accomplish all across Texas moving forward. If you’re interested in plugging into the Texas startup ecosystem, stay connected with us through our Austin Tech Live or Dallas Tech Live mailing lists and @CapitalFactory for updates.