Dallas named as 1 of 5 key emerging U.S. high technology hubs
Move over Silicon Valley.
The current tech boom is not just in the Bay Area, and some unlikely cities are gaining traction as key hubs.
by Cadie Thompson, CNBC
Friday, 2 January 2015
Dallas is heating up as a hotbed for both tech workers and companies.
The city was ranked as the fourth best city to work in tech, according to SmartAsset's report. Those in the tech industry in Dallas make 73 percent higher wages than the city's average compensation and also account for 4 percent of Dallas's total workforce.
While the city is home to some big companies including Texas Instruments and AT&T, the city's start-up scene has also had significant growth, especially since the 2008 recession, said Aziz Gilani, a partner at the Houston-based venture capital firm Mercury Fund.
"Dallas was going through an identity crisis before the recession. It was a city that didn't have [a start-up] industry that was at all investable and had no funds to invest in them," Gilani said.
However, what emerged post-recession were three organizations that helped jump-start entrepreneurship in the city. These include The Dallas Entrepreneur Center, the tech accelerator Tech Wildcatters and the accelerator VentureSpur.
About 33 Dallas-based tech companies have been acquired since 2012, including the enterprise cloud company SoftLayer, which was bought by IBM in 2013 for $2 billion, according to data from CB Insights.
And the state of Texas is also slated for a big year of tech IPOs. The state has 22 tech companies in the the IPO pipeline for 2015, according to CB Insights.
Full article:
http://www.cnbc.com/id/102303349#.