Austin, Texas is witnessing its own kind of gold rush, as entrepreneurs flock to the city and set up shop, making the Austin tech scene the stage for one of the fastest growing sectors in the modern age. The city is seriously progressive, fully embracing the integration of technology in business and personal life.
The forward-looking collective mindset of the city and its unique socioeconomic dynamics seem to attract tech-minded individuals, brimming with energy and ideas. Austin’s host of top-tier universities nurtures the development of a tech-savvy population.
There’s no shortage of mentorship, angel investment opportunities, and support in Austin, either. With many programs aiming to foster entrepreneurial spirit, like the Acton School of Business, E/O Accelerator, YPO, and TIE Austin, entrepreneurs have access to a vibrant and fast-paced community that is dedicated to getting you the tools you need to grow your business.
Of the many business incubators found in Austin, including BuiltInAustin and Austin Technology Incubator, one stands out particularly. Capital Factory is a centrally based incubator that is dedicated to connecting new companies with mentors, investors and customers–necessary players in the game of business success. One of the coolest things about Capital Factory is that companies can temporarily set up shop at Capital Factory headquarters, while the Factory does some serious networking leg work.
For Willy Ogorzaly, Capital Factory’s services helped get his tech startup “JustLegal” moving, connecting Ogorzaly with employees, mentors and a major, important customer. If not for the support he received in Austin, JustLegal may still be stuck in low gear in Boulder, Colorado, where the idea began.
Austin certainly has no shortage of brilliant thinkers. Those thinkers tend to stick around because Austin is also full of opportunity. The city inspires the creation of companies like “Favor”, a business self-proclaimed as “your personal delivery assistant.”
The company was founded in Austin and boasts success, with 25,000 employees and projected sales of over $100 million. The business operates through the Favor app, taking advantage of how technology easily connects people. Favor was created in Austin, for Austin; with the app, anyone can request delivery of food from any grocery store or restaurant in Austin (delivery of other items like dry-cleaning also available!)
Favor and many other Austin-based tech startups are a testament to the city’s potential for business success. According to the Kauffman Growth Entrepreneurship Index, in 2016 the growth of Austin’s start-ups was higher than any other city except Washington, D.C.
The growth of the Austin tech scene is not likely to lose momentum anytime soon. The city is keen on cultivating collaboration.
Case and point: The review site localuer.com was launched at the tech sector of Austin’s SXSW festival, after its two founders, Joah Spearman and Chase White met at the Austin-based software company Bazaarvoice.
The Localeur seed was planted and cultivated in Austin, and continues to flourish there.
Startups like Localeur have great potential in Austin, because the city’s population and visitors are so outgoing. Localeur is a platform where locals share their honest reviews and recommendations of the city’s restaurants, attractions, hotels, etc. Austin is naturally a tight-knit and expressive community–providing the locals a platform for sharing ideas and experiences was bound to be successful!
Austin’s tech scene will continue to impress with the projected growth of new companies in the realms of artificial intelligence, machine learning and virtual reality. And, with tech giants like Amazon, Google, and Facebook maintaining offices in the city, it is an exciting time to be a tech-head with a vision in Austin!
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