1. San Antonio
As the seventh largest city in the U.S. and with the biggest chunk of its population between 25 and 34, San Antonio is a perfect place to add to the rising cities list.
The city is pouring money into revitalizing its downtown area to encourage young professionals to make San Antonio their permanent homes as well as developing its angel investor and venture capital networks to help address the needs of smaller startups.
"San Antonio has always had a very strong small business presence," says Rene Dominguez, director economic development for the City of San Antonio."We have some industries that really lend themselves to small-business formation and growth
"Rackspace has a desire to make San Antonio an IT, tech-driven community and it matches up with the city's goals as well," Dominguez says. >>>Rackspace Not on 'Cloud 9' Anymore From establishing Geekdom, a collaboration space that is a point of concentration for tech and entrepreneurialism in San Antonio, and a major supporter behind TechStars Cloud, a San Antonio-based accelerator launched in January 2012 that funds companies focused on cloud computing and cloud infrastructure. "San Antonio has a lot to offer tech startups," says Jason Seats, managing director of TechStars Cloud. "The community is small, but concentrated and because of initiatives like Geekdom it's very easy for newcomers to get acclimated and meet everyone. Local investors are just getting the angel-investing bug and there is healthy support to see San Antonio-based companies succeed." Startups are also launching within the biotech and medical device industry, particularly with unique assets to the city like University of Texas' Health Science Center and several biotech incubators, such as T3DC, that all lend themselves to fostering small business creations, Dominguez says. Among its myriad of city-supported programs and initiatives, the San Antonio Economic Development Corporation (SAEDC) was created in 2010 by the city council to help spur the development of innovative companies and bring high-paying jobs to the city. It has the authority to make equity investments in companies, mainly within bioscience and health care. The investment funds are provided through grants approved by City Council to the SAEDC. "We're not necessarily venture capitals because we're not looking for risky ventures," Dominguez says. "We're looking for projects that
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts