A closer look at startup culture in Texas: A booming state for business
3 Jul 2021
Throughout the pandemic, Texas has been criticized for how it implemented lockdown regulations and health protocols. Now, Texas has fast become a hub for emerging startups and innovative tech businesses. Today, the four major cities, Austin, Dallas, Houston, and San Antonio form the Megalopolis hub for upcoming venture capitalists.
While their economy has seen rapid growth in recent years, Texas alone contributes more than $1.9 trillion towards the overall American GDP. With these figures, and more and more major corporations relocating to the state, it’s no wonder some have already pinned Austin as the Silicon Hills of The Lone Star State.
The state does offer some attractive income and corporate tax jurisdictions, and these and many other reforms have seen a large portion of investors, and major corporations flock towards setting up new headquarters in Texas. The popularity currently surrounding Texas startups and venture capitalists funding new businesses has shaped the booming landscape it is today. But what has been driving venture capitalists and investors to fund small startups and local businesses in the area?