New York City Leads as America’s Top Tech Hub
26th February 2024: Datamaxtexas.com has recently ranked the leading US cities as the biggest tech hubs. The ranking is based on StartupBlink’s data for startup numbers and incubators of each city, availability of tech jobs from Indeed and the raised venture capital of the recent year. Each city is assigned a score based on these criteria.
New York City tops the list as the leading tech hub in the US by a total score of 21.7. The city is leading mostly due to the largest venture capital of last year at $52B. Additionally, it ranks first thanks to its impressive number of startups, availability in the tech job market, and a significant number of incubators, further securing its place in the rankings.
San Jose closely follows in the ranking with a total score of 13.9 and $26.7B in venture capital, which is nearly half of New York’s total. The city secures the second position, driven by its significant number of startups and the second-largest tech job market among the cities on the ranking.
Boston marks the third spot just slightly behind San Jose with a total score of 13.1. Majority of Boston’s score comes from venture capital investment of $35.2B which is the second highest on the list. The area’s significant number of incubators supports its place in the ranking, while having fewer startups and tech jobs compared to New York and San Jose.
Los Angeles takes the fourth position, scoring 10.3. With $23.9B in venture capital and a growing number of tech jobs, Los Angeles is rapidly becoming one of the most important tech hubs, being home to almost 3.8K startups. The city is also one of the biggest startup incubator hubs, making it one of the best places for tech networking.
San Francisco secures the fifth spot in the rankings with a total score of 7.7. This position is primarily influenced by its highest number of startups in the country, totaling 11.7K. The city’s impressive venture capital funding of $9.1B and a significant count of 123 incubators, which matches New York, are notable contributors to its score. San Francisco’s ranking is lower by a relatively smaller pool of available tech jobs compared to other leading cities.
Washington, D.C. captures the sixth spot with a score of 6.5. The capital’s position in the top 10 is secured by the number of tech jobs, the highest in this ranking, at 29.6K. It has fewer startups and less venture capital than other cities, but its job opportunities still make it a major player in the tech industry.
San Diego ranks eighth with a score of 4.1 and has 1.1K startups that have collectively raised nearly $9.7B in venture capital, particularly in the field of biotechnology. Being the fourth Californian city on this list, San Diego offers 2.8K tech jobs, making it an appealing destination for tech professionals.
Chicago, claims ninth place with a score of 3.8. Chicago’s influence in the tech scene comes from its venture capital investment of $7.2B and a reasonable amount of tech jobs available in the city. The city’s notable number of incubators at 76 and startups also contributes to its ranking as a significant tech hub in the Midwest.
Philadelphia, finishing tenth with a score of 3.4 is slightly behind Chicago. The city has a higher venture capital investment of $7.7B compared to Chicago but ranks lower due to its smaller number of startups, totaling 587. Philadelphia’s tech scene is supported by a strong job market with 3.8K tech jobs and 55 incubators.
Commenting on the study, a Datamax Texas spokesperson said, “It’s interesting to see New York leading, not just because of its huge funding and tech jobs but also as it shows tech growth beyond the global center for high technology and innovation like Silicon Valley. San Jose’s obviously still strong with lots of startups and funding. But what is more interesting is to see places like Boston and Philadelphia showing lots of venture capital even with fewer startups, showing they’re focusing on quality over quantity.”
Findings summed up:
