This SlideShare deck is an article summary of '10 Best States for Starting a Business' written by Catherine Clifford. You'll learn about the Top 10 States that ranked highest for entrepreneurship and innovation. As always, this information is intended to educate and empower entrepreneurs.

1. 10 Best States for
10 Best States for
Starting a
Starting a
Business
Business

2. Introduction
Introduction
Here are the top 10 states
Here are the top 10 states
ranked for entrepreneurship
ranked for entrepreneurship
and innovation, as measured
and innovation, as measured
by the number of high-tech
by the number of high-tech
businesses in the state,
businesses in the state,
programs that support
programs that support
entrepreneurs, and STEM
entrepreneurs, and STEM
(science, technology,
(science, technology,
engineering and
engineering and
mathematics) job
mathematics) job
concentration. Each state that
concentration. Each state that
made the list has something
made the list has something
unique to offer resident
unique to offer resident
entrepreneurs.
entrepreneurs.

3. Maryland
Maryland
The Maryland Entrepreneurs
The Maryland Entrepreneurs
Resource List is a networking
Resource List is a networking
tool for connecting
tool for connecting
experienced tech executives
experienced tech executives
with young startup
with young startup
entrepreneurs.The
entrepreneurs.The
University of Maryland
University of Maryland
Baltimore County's
Baltimore County's
ACTiVATE initiative,
ACTiVATE initiative,
supported by the state's
supported by the state's
Technology Development
Technology Development
Corporation, gives female
Corporation, gives female
entrepreneurs over a year of
entrepreneurs over a year of
support and guidance as
support and guidance as
they launch their tech
they launch their tech
startups.
startups.

4. Colorado
Colorado
In addition to attracting
In addition to attracting
hikers and bikers, the
hikers and bikers, the
Western state is a hotbed for
Western state is a hotbed for
high-tech businesses and
high-tech businesses and
ranks fourth in the country
ranks fourth in the country
for the number of new
for the number of new
businesses born. Also, it has
businesses born. Also, it has
a relatively high
a relatively high
concentration of STEM jobs
concentration of STEM jobs
and in the last two years has
and in the last two years has
bolstered its high-tech
bolstered its high-tech
workforce with an additional
workforce with an additional
1,100 software programmers,
1,100 software programmers,
840 engineers, and 675
840 engineers, and 675
science research jobs.
science research jobs.

5. Virginia
Virginia
In addition to having the
In addition to having the
highest concentration of
highest concentration of
STEM jobs of any state in the
STEM jobs of any state in the
U.S.,Virginia has been home
U.S.,Virginia has been home
to the Center for Innovative
to the Center for Innovative
Technology since 1985.The
Technology since 1985.The
CIT's mission is to promote
CIT's mission is to promote
technology-based economic
technology-based economic
growth in the state and is
growth in the state and is
focused on getting money to
focused on getting money to
more entrepreneurs in the
more entrepreneurs in the
very early, seed round of
very early, seed round of
funding.
funding.

6. UtahUtah
The Utah Science,Technology,
The Utah Science,Technology,
and Research initiative (USTAR)
and Research initiative (USTAR)
at the University of Utah, which
at the University of Utah, which
is dedicated to turning research
is dedicated to turning research
at the state's universities into
at the state's universities into
commercial businesses,
commercial businesses,
received $6 million in funding
received $6 million in funding
in 2012. Also, the state and the
in 2012. Also, the state and the
Governor's office teamed up
Governor's office teamed up
with Weber State University to
with Weber State University to
offer entrepreneurs courses,
offer entrepreneurs courses,
mentorship and affordable
mentorship and affordable
working space in a program
working space in a program
called Startup Ogden.
called Startup Ogden.

7. Massachusetts
Massachusetts
The New England state, home to
The New England state, home to
some of the most prestigious
some of the most prestigious
research institutes in the country,
research institutes in the country,
including Harvard University and
including Harvard University and
Massachusetts Institute of
Massachusetts Institute of
Technology, is a hub for STEM
Technology, is a hub for STEM
jobs. Also, in 2012, the state
jobs. Also, in 2012, the state
legislature passed a bill that will
legislature passed a bill that will
allow the Massachusetts to invest
allow the Massachusetts to invest
in several long-term research and
in several long-term research and
development activities, provide $1
development activities, provide $1
million for paid internships in
million for paid internships in
startups, and another $1 million for
startups, and another $1 million for
a program to mentor
a program to mentor
entrepreneurs about how and
entrepreneurs about how and
when to access venture capital
when to access venture capital
funding.
funding.

8. Texas
Texas
The Lone Star State has
The Lone Star State has
more than 2.2 million
more than 2.2 million
small-businesses
small-businesses
accounting for more than
accounting for more than
half of its private sector
half of its private sector
jobs. Also, since 2009,
jobs. Also, since 2009,
Texas has ramped up its
Texas has ramped up its
STEM workforce by 34,000,
STEM workforce by 34,000,
primarily in the computer
primarily in the computer
and IT fields.
and IT fields.

9. Washington
Washington
Impact Washington supports
Impact Washington supports
manufacturing in the state and
manufacturing in the state and
has a specific program
has a specific program
targeting small manufacturers.
targeting small manufacturers.
Also, manufacturers can get
Also, manufacturers can get
access to funding through the
access to funding through the
state's Washington Economic
state's Washington Economic
Development Finance
Development Finance
Authority's Industrial Revenue
Authority's Industrial Revenue
Bond program. In addition to its
Bond program. In addition to its
support for manufacturing, the
support for manufacturing, the
home state of software giant
home state of software giant
Microsoft has a high percentage
Microsoft has a high percentage
of STEM workers, with notable
of STEM workers, with notable
concentrations in engineering,
concentrations in engineering,
science and computer workers.
science and computer workers.

10. Arizona
Arizona
The Southwestern state hosts the
The Southwestern state hosts the
Arizona Innovation Challenge each
Arizona Innovation Challenge each
year where it gives out $3 million
year where it gives out $3 million
in awards to entrepreneurs. Also,
in awards to entrepreneurs. Also,
the state encourages investment in
the state encourages investment in
small Arizona businesses by
small Arizona businesses by
granting tax credits through its
granting tax credits through its
Angel Investment Program, which
Angel Investment Program, which
it has budgeted $20 million for
it has budgeted $20 million for
through 2016. Also, Arizona has a
through 2016. Also, Arizona has a
Fast Grant program giving winning
Fast Grant program giving winning
entrepreneurs funding to use to
entrepreneurs funding to use to
hire expert consultants and test
hire expert consultants and test
new products.The goal of the
new products.The goal of the
program is to help startups
program is to help startups
transform an innovative new
transform an innovative new
product or idea into a money-
product or idea into a money-
making venture.
making venture.

11. Georgia
Georgia
Atlanta is relatively active city for
Atlanta is relatively active city for
venture capital, with 54 startups
venture capital, with 54 startups
getting money in 2012, according
getting money in 2012, according
to the National Venture Capital
to the National Venture Capital
Association, the venture-capital
Association, the venture-capital
industry association.The capital
industry association.The capital
city's co-working space,The
city's co-working space,The
Atlanta Tech Village, has a waiting
Atlanta Tech Village, has a waiting
list of more than 100 people, a sign
list of more than 100 people, a sign
of the city's active startup culture.
of the city's active startup culture.
Also, the Georgia Department of
Also, the Georgia Department of
Economic Development runs a
Economic Development runs a
training program called
training program called
Entrepreneur-Friendly
Entrepreneur-Friendly
Communities where it teaches
Communities where it teaches
local communities how to
local communities how to
encourage and foster small-
encourage and foster small-
business growth.
business growth.

12. Florida
Florida
While Florida doesn't have
While Florida doesn't have
much to brag about when it
much to brag about when it
comes to encouraging
comes to encouraging
innovation, the Sunshine State
innovation, the Sunshine State
has the highest business birth
has the highest business birth
rate in the U.S., helping it to
rate in the U.S., helping it to
narrowly secure a spot on the
narrowly secure a spot on the
entrepreneurship list. Also, the
entrepreneurship list. Also, the
state has a very high growth
state has a very high growth
rate of self-employed
rate of self-employed
individuals, including the
individuals, including the
addition of 59,000 personal
addition of 59,000 personal
finance advisors since 2002,
finance advisors since 2002,
39,000 property managers, and
39,000 property managers, and
38,000 securities and financial
38,000 securities and financial
services individuals.
services individuals.

13. Information
InformationAttributes
Attributes
Original Article Link
Original Article Link
10 Best States for Starting a Business
10 Best States for Starting a Business
Original Article Author
Original Article Author
Catherine Clifford
Catherine Clifford
All information and content is
All information and content is
property of the respectful owners.
property of the respectful owners.
This SlideShare presentation is
This SlideShare presentation is
intended to educate and empower
intended to educate and empower
entrepreneurs.
entrepreneurs.

14. TheEnd
TheEnd
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