Investment Money Flows into Houston Metro
If you’ve got the entrepreneurial spirit there are few places better than the Houston metro area to set up shop– particularly in Austin. There are an interesting mix of variables that make the area so attractive to small companies. According to tech.co those incentives include things like affordable housing costs and no state taxes.
As if no state taxes wasn’t enough, there is also a lot of money coming into the area for startups. According to Austin Business Journal, at least four Austin-area startups reported raising investment capital totaling $2.8 million to the U.S. Securities and Exchange Commission in the last week of May.
- Citizen Shipper LLC completed a $500,000 seed round of funding.
- Georgetown software maker AccuBuild IT LLC completed a $2 million equity financing with three investors.
- Snap Trends Inc., a social media curator, raised $225,015 of a planned $2 million financing involving four investors.
- Microcontroller developer Ambiq Micro Inc. collected $90,000 from a lone investor.
Tech.co breaks down a few more reason why startups, particularly tech-based companies, are so attracted to the area:
Local Talent is Plentiful – Hiring from a local pool of talented individuals is more cost-effective than conducting a search outside the area, especially when you factor in the cost of helping someone relocate. Fortunately, there are many nearby schools that produce talented people with a strong interest in technology, including the University of Texas.
The Number of Startup Communities Continues to Grow – A long list of startups communities (you may check weekly new startups on ATXStartupHunt) make it easier for new companies to launch their tech product or services from Austin. Some of the most notable communities include Capital Factory, Techstars, Dreamit Ventures, WeWork and TechRanch.
Strong Local Support – The Austin Chamber of Commerce is committed to helping tech startups build and thrive within the city. To help meet this goal, they heavily provide support via events such as the bimonthly investor/startup mixer.
