According to a recent Inc. magazine, there is a new Silicon Valley in town and it’s called Provo, Utah. Research shows that out of the top 12 venture-capital-backed startup locations in the U.S., Provo and Orem ranked eighth in 2014. Specifically, they received over $460 million in venture-capital spread among nine major deals. Equally impressive, Salt Lake City and Ogden received over $275 million. Read on to learn how a small city in Utah is revolutionizing the startup scene. Why Provo is So Popular Provo, which is 45 miles south of Salt Lake City, is quickly becoming one of the most popular locations for tech jobs and startups. Provo has successfully attracted and retained top tech talent from all over the world because salaries, real estate and quality of life are excellent. Even though Provo’s population is only approximately 116,000 people, there are more venture-funded companies than anywhere else in the world. Some of the most notable tech companies in Provo include Abode, Domo and Qualtrics. Provo proudly provides their own entrepreneurial mecca, called the Startup Building, which rents space and provides collaborative resources for startups. Established Utah entrepreneurs are noted for consistently supporting …show more content…
Geographically speaking, the Northern Wasatch area of Utah, which is the section that contains Provo, Ogden and Salt Lake City, is home to over eighty percent of the state’s population. Local universities have excellent STEM programs, local cities provide commercial incentives and local companies maintain strong relationships within their respective industries. Everything is interconnected through a well-designed freeway and mass-transit system. Because communities are tightly knit, many startups are home-grown and venture-capital funding is generous, the so-called Silicon Slopes area has successfully established itself as a magnet for tech