Here is a quick and definitive guide for those planning to move to Seattle to explore its startup ecosystem. The largest city in Washington State, Seattle is an up and coming entrepreneurial hotbed. A lot of entrepreneurs and job seekers who want to work in startup entrepreneurial ventures are moving to Seattle for better opportunities.
Seattle is home to many soaring industries that contribute to its GDP of $301 billion. Some of these industries include aerospace, agriculture, clean technology, life sciences, maritime, military and defense, tourism, and transportation & logistics among the others. The city of 3.7 million people consists mainly of skilled workers whose expertise lies in an array of fields.
The capital of the Washington State, Seattle is home to more than 3000 companies from diverse industries which hold an average valuation of $4.3 million. Move to Seattle and be part of a rapidly growing startup scene in a steadily growing economy. There is a lot Seattle has to offer for entrepreneurs and for those seeking to learn and grow in the dynamic work culture that startups have to offer.
Why Should Startups and Entrepreneurs Move to Seattle?
Seattle offers a favorable business environment and has given rise to several Fortune 500 companies like Microsoft, Expedia, Boeing, Costco, and many more. The city has the right cultural, legal, and economic framework that can help businesses grow and is a growing startup hub in the region. Consider moving to Seattle to be a part of this up and coming startup ecosystem in the Puget Sound region. The startup ecosystem proudly boasts of two unicorn companies – OfferUp and Adaptive Technologies. The latter is a biotech company that has a valuation of over $1 billion and raised a funding of $411 million.
Be a Part of a Supportive Startup Community in Seattle
A supportive community of startups and other entrepreneurs is an asset that you can enjoy when you move to Seattle. The entrepreneurs and startups in the city have a strong sense of community and are always willing to offer help in any way. Whether it is for feedback of your product or for making a professional connection, the city’s entrepreneurial community will always have your back. Startups in Seattle enjoy several events that are conducted by various startup ecosystem partners. These events help the community work as an influential collective of entrepreneurs. The community of startups in Seattle is very people focused and does not undervalue the importance of people whether it’s the investors, customers, or the employees.
Moving to Seattle is an ideal move for those who are looking to grow in a laid back but focused community. Several national players have set base in the city and startups in Seattle have access to these successful entrepreneurs for guidance and any other help. Be a part of the 300 plus events that are held for helping startups interact with the established names and other like-minded startups in Seattle.
Startups in Seattle have Access to Rich Source of Funding
Entrepreneurs moving to Seattle are benefitting from the community of investors in the city. Investors in this city play a more prominent role and have been helping startups in Seattle by showing them the right direction apart from the monetary support. Entrepreneurs in Seattle can always rely on the community of investors for insights and direction for their startup ideas. The community of investors is not just in rich in terms of financial capital, but also when it comes to the advice and experience, they have to share with the players in the startup ecosystem. Move to Seattle and be a part of a city that is home to hundreds of angel investors and active venture capital funding companies like Founders’ Co-op, Maveron, and Trilogy Equity Partners.
Seattle has a Young and Vibrant Pool of Talent
You will not be disappointed with the pool of talent in the city when you move to Seattle. This emerging startup city has some of the youngest, and this pool is continually replenished, thanks to the prestigious colleges and universities in the region. The University of Washington is an important source of talent for startups in Seattle and is also one of the top tier research institutes in the region fuelling the startup ecosystem.
Seattle offers Unmatched Work-Life Balance
A healthy work-life balance is vital for entrepreneurs for their growth and for them to be able to be the most productive. The city has more access to nature and green lands as compared to other startup cities in America like New York or Los Angeles. There are a number of outdoor activities to choose from. The picturesque surroundings that offer the perfect escape from the town area is a precious asset the city has to offer for those moving to Seattle.
Move to Seattle to make the Most of the Government Initiatives
Startups in Seattle can enjoy an array of government initiatives that are directed for the well being of the city’s startup ecosystem. The city has partnered with various business organizations to offer services that are beneficial for startups at various stages. Startup Seattle is one of the many efforts from the government to provide startups guidance in various forms. The organization helps entrepreneurs get access to the various resources that the city and its community have to offer. These resources include the various training and research institutes, business incubator organizations, and startup accelerator programs among the others.
If you are looking for the right organization to help you launch your business ideas into successful ventures, schedule a free consultation with premier startup accelerator brand YoStartups who can help you move in the right direction. The brand has helped numerous startups across the globe with their startup bootcamp and accelerator programs that designed to work well in different industries.
Be a Part of a Rapidly Growing Tech Sector in Seattle
The glorious tech sector is one of the many reasons that people move to Seattle. The city is home to tech leaders like Microsoft and Amazon who have helped the economy grow and are giving it back to the tech sector by playing crucial roles in the startup ecosystem. The sub-sector pillars holding up the broader tech sector in Seattle are cleantech, advanced manufacturing & robotics, and the AI, Big Data & Analytics sectors.
AI, Big Data and Analytics Startups in Seattle
Seattle is an important Big Data and cloud computing hub in the U.S owing to the presence of national players like Microsoft Azure and Amazon web services. The sub-sector bagged a fourth of the total venture capital funding in the city in the years between 2012 and 2017. Some of the successful ventures in this sub-sector in Seattle include Textio, VoloMetrix, and Qumulo. Microsoft acquired VoloMetrix, a big data and analytics company, for $250 million in 2015 making it one of the most notable deals in recent years. An important catalyst that drives the growth of the AI, Big Data and Analytics sector in Seattle is the Allen Institute for Artificial Intelligence. It was founded by Paul Allen, Microsoft’s co-founder and is a major AI research and incubator organization in the region.
Cleantech Startups in Seattle
One of the main factors that have helped the cleantech subsector be under the spotlight is the state government support. Washington State has an array of incentives for companies in this sub-sector which include sales and tax credits for any renewable energy based equipment that generates electricity and B&O tax reductions for solar energy system manufacturers. A lot of cleantech professionals move to Seattle to make the most of the growing cleantech job market in the region. Some notable names of sub-sector include companies like Powerit Solutions and Imperium Renewables. Cleantech Alliance is a trade association of over 300 members that plays an essential role in encouraging clean technology innovations in Seattle.
Advanced Manufacturing and Robotics Startups in Seattle
The advanced manufacturing and robotics sub-sector in Seattle finds itself as a part of several industries that use its applications. These industries range from agriculture to aerospace to logistics. Companies like Glowforge are gaining more and more popularity. The company is a leading 3D laser printer manufacturer and raised $22 million in Series B funding. Robotics research groups like UW Robotics and State Estimation Lab; Modelling, Motion, and Medical Robotics; and Pacific Northwest National Laboratory play a significant role in the growth of the advanced manufacturing and robotics sub-sector.
The ecosystem framework in Seattle in continually strengthened by the presence of dedicated ecosystem partners like:
Seven Peaks Ventures
Seattle Angel Conference
Angel Resource Institute
Microsoft for Startups
Move to Seattle for giving your entrepreneurial dreams the right base to grow. The city has everything from ample angel investors to an efficient infrastructure to supportive local policies to help startups grow. Enjoy the benefits of the fantastic connectivity Seattle has as it is connected via road, air, and water mediums to the rest of the country and the world. The trickle-down effect in the economy owing to the big corporations in the region creates a favorable economy for startups in the region as well.
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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.
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