In the American venture-capital business, the San Francisco-San Jose corridor dominates by number and value of transactions, but other US cities outpace that ecosystem in growth. The industry can credit municipalities that favor city managers with entrepreneurship responsibilities, partnerships with local universities, and active angel-investor networks. Those points were among the reasons why the Kauffman Foundation ranked Austin, Texas as the top US city for startup activity in 2016, followed by Miami in second place. Venture-capital opportunities in the US now commonly reach to the hinterland. Indicative of the trend, Cincinnati-based Everything But the House and Cleveland-based MacroPoint each landed more than $40 million in venture funding at the end of last year. Expect to see a growing volume of US regional startup funds make their way to international prominence over the cycle ahead. ■
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Image: In Austin, technology displaces Western stereotypes. Credit: WOCLeeds at Can Stock Photo.
