Highlighting the Central Texas Angel Network, the growing computer game industry, and deep pools of venture capital, Austin’s sizable and growing “Silicon Hills” startup community was the first in a New Series In The New York Times looking at startup communities across America.
Austin is one of the top areas for venture capital investment in the country, garnering $621 million in 2012, according to the Austin Chamber Of Commerce. Software and semiconductor firms received about 43 percent of that.
The big benefit of Austin, according to the story, is that it’s a less high-pressure scene than places like Silicon Valley and Boston, and that companies are able to grow and flourish here even if they never achieve billion-dollar valuations.
The Times reports, “The region’s start-up ecosystem includes several venture capital firms, the Central Texas Angel Network, one of the most active angel networks in the country, groups that foster and encourage entrepreneurship and several well-known incubators. There’s plenty of talent in the area, both recent graduates from the University of Texas and refugees from Austin’s large tech companies, like AT&T, I.B.M. and Dell. But it’s also not hard to get talent to relocate. Austin is a Colorado River town, with three lakes within the city’s limits, rolling hills, a relatively low cost of living for a metropolitan area and a great music scene.”