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Northern Utah is developing a reputation nationally as the next Silicon Valley. From Q3 2015 to Q3 2016, more than $627 million was invested in startup companies in Utah, according to data published by PricewaterhouseCoopers, LLC. This amount is still small compared to California, but we were No. 7 in the nation in 2014 for the total number of dollars spent in funding new tech companies.
Angel List, a website for investors, startup companies and job seekers, listed 145 new startup companies for 2016 in Salt Lake City alone. Our highly educated workforce and the neighbor-like atmosphere of our business community help draw the latest ideas and innovators in the tech industry to the state. In other words, a financial and communal support system is here, and entrepreneurs are taking advantage of it. And based on the pace of this growth, there’s little indication that the startup growth trend in Utah will change anytime in the near future.
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