The entrepreneurial environment in Texas is thriving. In later years, a very robust entrepreneurial system has been built making it easier for startups to survive. This is one of the reasons why investors seem to believe enough in these startups to continue to invest. In two years the Texas startups have doubled their venture capital.
Last year, Texas startups attracted no less than $10.55 billion in venture capital. This is up 123% from the $4.73 billion raised in 2020. This is a huge and impressive increase and a clear expression of how well the entrepreneurial ecosystem in Texas is doing.
Austin is leading the way
These numbers are impressive for Texas. Austin in particular has some impressive numbers these years. Austin is in the top 5 U.S. markets when it comes to VC funding in 2021. Austin exceeds Boston, San Francisco Bay Area, Seattle, Los Angeles, and Washington in yearly increase by raising their VC funding by 111%. This is a very positive development for the city and the state. Entrepreneurs are creating jobs for Americans and play a huge role in bettering the economy.
New entrepreneurs enter crowded markets
The increased number of startups and their ability to raise VC funding is a very clear indication of a flourishing culture. In Texas, there is a low cost of doing business, no state income tax, and a wide range of talent. There are lots of opportunities to start your own business in Texas. If this is something that you are considering, some things are good to know from the start. You will probably be entering a crowded market where the competition is fierce. Consider how you’re going to stand out.
One of the most important things for any new business is the right branding. Make sure that you consider storytelling – one of the great stories of being an entrepreneur from Texas. Spend some time on your brand identity and find a really good name. Look for a name that’s going to stick with people. If you need some help in how to find a creative and appropriate business name, you can use the online generator on businessnamegenerator.com. When you have a great business name, make a really good logo and nourish your online presence.
The value of being in an entrepreneurial hub
It’s great news for new entrepreneurs to be entering an entrepreneurial hub. This means that they’re starting their business in a thriving environment where they’re great conditions for new businesses as well as a culture that supports entrepreneurship. This will also make it easier to raise further VC as the investors already have a trust in this particular environment and the businesses that grow from here.