Provo: City of Startups

According to CNN, Provo is a great place for startups, even beating out Salt Lake City:

The Provo-Orem area is often overshadowed by its northern neighbor, Salt Lake City. It’s a third of the size and doesn’t have its own NBA team. But Provo actually raises more venture capital money for startups.

Entrepreneurs have found that Provo, like Boulder, provides top-notch resources paired with reasonable living expenses. Startups can also turn to research facilities at the Mormon Church-run Brigham Young University, which is gaining recognition for its support of student business ventures.

Building a culture of startups is important but not necessarily easy, so it’s laudable that Provo is succeeding.

Provo is a great place for startups.

But could it succeed even more? I think so. Note, for example, the Boulder comparison in the quote above. The Colorado city actually shows up in the number one spot on CNN’s list, once again illustrating how it economically outshines Provo. The reasons for that are complex, but as I’ve been arguing lately Provo should be trying to understand and address the differences between between it and other cities. In other words, the city needs models along with a critical understanding of their applicability.

In any case, Provo deserves some back patting for landing on CNN’s list. But it’s vastly more important that lists like this serve as the impetus for more improvement. Or said another way, there are five other cities that have been singled out here and each of them offers important lessons that Provo should internalize.

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1 Comment

Filed under Development, economics

One response to “Provo: City of Startups

  1. Bill Graff

    Love your stuff. Keep it coming.

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