Are you thinking about moving to Houston and plunging into the world of startups, by either picking a startup job in Houston or setting your startup? Trust us, this does not require you to think twice about it. The fertile startup city is ideal not just for beginning a startup but also for those wanting to work and learn in a dynamic startup work culture.
Here is a guide to help you be sure about your decision of moving to Houston for helping your entrepreneurial aspirations reach new heights.
Home to a prestigious NASA facility and around 6.5 million people, the city is one of the top global startup ecosystems. It is one of the largest American cities and one of the most happening ones too. The various startups in the city have motivated hundreds of students and professionals to move into the city. These startups have a major share of contribution to the city’s GDP of $525 billion. This GDP is almost double the average global GDP of ecosystems across the world which is $267 billion.
Moving to Houston would mean getting your hands on some fantastic personal benefits and fantastic entrepreneurial advantages. The city has a strong economy whose foundation can be traced to oil trade. Houston was one of the few American cities that bounced back after the 2008 recession without any adverse effects, thanks to the regional oil and gas industry.
Why is Houston the Best Place for your Entrepreneurial Venture?
Setting up your entrepreneurial venture in a big city like Houston has its own advantages. Even though there may be stiff competition, you are likely to get noticed and get the right investors with a proper sales and marketing strategy. There are more than 1000 companies in Houston that together stand at a $4 million valuation.
Houston Exponential, a Startup Genome partner, is creating favorable and dynamic ecosystems for startups to grow. The organization is creating opportunities for various players in the ecosystem to convene. These include the multiple startups, academic groups, investors and government agencies. The aim is to help these parties connect so that the right resources can be delivered to the right places in a high growth and high impact economy.
Houston is a Business Friendly City
Houston welcomes entrepreneurs with open arms and loves innovation. The city is home to several Fortune 500 companies. Working in a city with such amazing companies offers you several opportunities for networking with the right parties. This can help you build strategic relationships. Irrespective of whether you are a B2B company or a B2C company, this strategic networking can help you build potential client bases or get you the right connections to do so.
By Moving to Houston You Are In an Ecosystem With 5000+ Investors
Funding is an essential factor that ensures the smooth running of your venture. Houston as a city has a remarkable startup funding potential and has over 5000 investors in the city. These investors are always on the lookout for startups with innovative products and services to collaborate with. Not just that, moving to Houston can help you get access to several business incubators and similar organizations that can help accelerate your startup journey.
Houston has Amazing Workspaces to Offer
A good office space can do wonders to your entrepreneurial journey. A lot of startups tend to move to big cities, but the high rents can often limit them to a home office. Rents in Houston are comparatively lower than other major cities like New York or Los Angeles. A good office makes your venture look well established and reliable. Not just that, a good office space can help you be more productive without any distractions that you may have at a home office and help you draw a clear line between your personal and professional life.
Coshared offices are also quite common in the city. These offices are affordable and fully equipped helping you save the cost of setting it up. These shared office spaces are also a hotbed for ideas and for networking with other startups.
Moving to Houston, Gets You The Best of Talent
The University of Houston is one of the top universities in the area which churns out some of the best talents each year. Apart from that, several more colleges and universities attract a lot of students each year for their tech, business, and several other courses. A lot of these students decide to stay back after graduating to explore the startup job market in Houston. Not just that, the sea of professionals moving to Houston looking for forward to work with the startups are also an excellent human capital resource for startups. The talent pool is brimming with entrepreneurs with some of the best innovative ideas.
A lot of innovative business ideas often remain ideas and are not translated into successful business ventures due to the lack of guidance. If you have an idea for a disruptive business venture and are looking for guidance, schedule a free consultation with Yostartups to join their acceleration program that has helped launch successful startups worldwide.
Be a Part of a Rapidly Growing Tech Startup Ecosystem in Houston
Apart from the oil and gas industry that dominates the regional economy, the tech startup sector in Houston has created itself a significant market that has helped set it apart than the other sectors. Some of the sub-sectors within the broader tech sector that is soaring exceptionally well are:
Houston is a Hub for Advanced Manufacturing and Robotics Startups
This subsector has been growing exponentially over the years. A large part of this growth can be attributed to factors like the proximity to a NASA manufacturing unit and top-notch educational programs in this field in the regional universities. The city is an advanced manufacturing and robotics hub in the making. When it comes to success stories from Houston, there are quite a few but two of them that stand out are that of MacroFab and re:3D. MacroFab is an electronics manufacturing platform which raised over $5.8 million and re:3D is a 3D printer gigabot company that was initially funded Startup Chile. The 3D printer gigabot brand recently won a $1 M Creator Award from WeWork.
Houston is a Hub for Health and Life Sciences Startups
This subsector gets a significant chunk of the total venture capital funding of Houston, all thanks to the groundbreaking health startups. These startups were responsible for bringing a 24.2% of the total venture capital funds in the Houston Ecosystem in the years from 2012 to 2017. The global concentration of health investments is just half of this amount. Constellation Healthcare Technologies which was acquired for $311 million and Cardon Outreach which was acquired for $400 million are two of the major exits in the Houston health and life sciences startup scenario.
One of the pillars that hold up this sub-sector is the healthcare sector which is the second largest job market and is responsible for creating jobs for over 325,000 people. In addition, the city houses some of the world renowned universities offering top-notch courses in health and life sciences. One of these institutions is the Texas Medical Center which is the largest medical center in the world. Are you stll thinking whether whether moving to Houston is a good idea or not?
Houston is a Great City for AI, Big Data, and Analytics Startups
The AI, Big Data and Analytics sub-sector has soared within the larger tech niche. The sector saw a quadrupling of the investments in its ventures in just a period of 2 years. This is another sub-sector after the health and life sciences sub-sector in Houston to have the highest share in the total regional venture capital funding with a share of 16.2%.
A lot of companies in this subsector, by. moving to Housto, have made the maximum out of the city’s advantage in the oil and trade business. Arundo Analytics is one such company which has a globally spreading client base. The company recently acquired funding of over $25 million and creates AI products for the oil and gas industry. You can check out 1001 startup ideas collection by YoStartups, click on this link to checkout hot startup ideas in AI & Big Data.
Some of the ecosystem partners powering the startup culture in Houston are:
Fanin Innovation Studio
Houston Angel Network
University of Houston – Hatch Pitch
Rice University – McNair Center for Entrepreneurship
Rice University – Owl Spark
Moving to Houston can help you gain a lot of entrepreneurial exposure, networking opportunities and the right platform to start your business venture. The city also offers a lot of advantages in terms of connectivity. It is well connected within the city and with the rest of the country and the world. The city’s major connectivity advantage is that it has active ports due to the oil and gas industry which are great for businesses logistically to import and export things.
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This article is from Yostartups, YoStartups is a Pre Accelerator, and it empowers entrepreneurs to propel their business ideas into successful ventures. Yostartups’ core mission is to take the message of entrepreneurship to 1 billion people globally by 2020.
In case you are looking at scaling or launching a venture on similar lines, you can apply for our virtual acceleration program Excelrate on our website, Yostartups.com, Yostartups’ Excelrate program will help you in streamlining and structuring your startup idea. We have limited scholarships and discount packs for deserving business ideas, depending on the strength of your startup ideas, you may qualify for a discount.