When an international expansion is the next step in your business’s growth, careful selection of your destination is important. Conducting thorough market research can help you choose the right location opportunities. Some cultures will be more receptive to the products you offer. Some markets just aren’t ready for your services.
When you’re investigating different locales, you may want to consider how innovative they are. Innovative cities often offer support to new businesses developing product and services. They may also be experimenting with other policies designed to incentivize new business.
If you’re looking to establish your US branch in an area known for being innovative, take a look at this list.
1. San Francisco Is the Top Innovation City in the World
When thinking about innovation cities, you no doubt thought of California’s famed Silicon Valley. Perhaps surprisingly, California’s top-ranked city is actually on the other side of the bay. Silicon Valley is on the southern side of the San Francisco Bay Area but doesn’t include San Francisco itself.
That may be changing, as San Francisco is now the top-ranked innovation city in the world, at least by a few different measures. When it comes to the amount of investment capital in the area, San Francisco gets top billing.
2. In a New York Frame of Mind
If the technology-centered culture of the West Coast doesn’t have much appeal, you can look toward another hub of business activity in the US. On the Eastern Seaboard, New York City has always been one of the drivers of American business.
It’s little wonder, then, that the city that never sleeps manages to collect its share of investment capital. By some measures, it’s tied with San Francisco and San Jose, so you won’t go wrong by choosing this East Coast alternative.
3. History and Innovation Collide in Boston
When you think of Boston, you may think of the city’s historical association with events like the Boston Tea Party. Or you may think of their sports teams. Some people will even associate Boston with its academic and literary scene.
In the past, Boston was a center of both culture and business, and that still rings true today. If you need proof of the city’s innovative roots, simply look at the nearby Massachusetts Institute of Technology (MIT).
MIT isn’t the only organization innovating in one of America’s most historical cities. Depending on the measure you use, Boston ranks within the Top 10 or even the Top 5 of innovation cities around the world.
4. LA Is a West Coast Hub of Innovation
San Francisco, San Jose, and the remaining Silicon Valley area generally steal the spotlight when people talk about innovation cities in California. You shouldn’t overlook Los Angeles, however, as the city ranks within the Top 10 on most measures. For example, it ranks seventh in the world in terms of investment capital.
One of the benefits of LA is its proximity to other major global hubs, such as Tokyo and Beijing. It’s also a stone’s throw away from Silicon Valley, which means you’re really getting the best of both worlds here.
5. Consider the Windy City
The American Midwest may seem to have been dismissed on this list, but you can look at Chicago as an example of Midwestern excellence. Although the Windy City currently ranks outside the Top 10 on a few measures, it’s still an excellent location to consider.
Although not as big as New York or LA, Chicago is still a major metropolis. It’s also an important central hub, connecting the East and West Coasts, as well as providing easy access to the Canadian markets.
Dozens of Other Cities
This list only includes some of the top cities, and it only considers a few measures. If you use different measures, another US city might be the right innovation city for you. Dallas–Fort Worth, Atlanta, and Denver could all be considerations for your business expansion.