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Salt Lake named one of the best cities to found a startup in new study

Aerial view of downtown Salt Lake City, Friday, Feb. 13, 2015.
Aerial view of downtown Salt Lake City, Friday, Feb. 13, 2015.
Chelsey Allder, Deseret News

SALT LAKE CITY — Salt Lake is the 12th "Best (City) to Found a Startup Outside Silicon Valley and New York" in 2015.

Salt Lake is also "the ideal place to start a company" for those who want a "family-friendly, deep-root environment," business research firm DataFox reported.

To generate their results, DataFox looked at 12,000 U.S.-based startup companies, and factored in the availability of capital, affordability, success of early-stage companies and a community of entrepreneurs.

The study references Salt Lake City's culture of growth, high startup density and low cost of living as three major factors that make the city a good place for startups.

Additionally, Utah came in eighth in Gallup-Healthways' 2014 State Well-Being Rankings. This high quality of life standard means "a founder with a family can buy a large home with a backyard in Salt Lake, rather than an overpriced condo she'd struggle to afford in San Francisco," DataFox's Anisha Sekar writes.

As far as networking goes, Salt Lake City has six business incubators — which is defined as an organization that helps budding businesses grow — including the Impact Hub and a large LDS population to peddle products as salespeople, according to the study.

Other cities included in the study were Cambridge, Massachussets; Santa Monica, California; Fayetteville, Arkansas; Boulder, Colorado; Wilmington, Delaware; Pittsburgh, Pennsylvania; Atlanta, Georgia; Scottsdale, Arizona; St. Louis, Missouri; Durham, North Carolina; Cleveland, Ohio; Austin, Texas; Seattle, Washington and Providence, Rhode Island.


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