Posted on 05/28/2012 6:34:55 AM PDT by SeekAndFind
When Doug Imbruce wanted to start an interactive video company in 2009, he had no luck finding investors in New York. So he moved to Silicon Valley — where venture capitalists were receptive to his pitch — and founded Qwiki.
But in February, he decided that being so far away from the nation’s big media companies was stifling his start-up’s growth. So he moved back to New York, bringing the company with him. Qwiki, with 15 employees, now operates out of a SoHo loft space.
“We went to Silicon Valley because they understood how big we wanted to get,” Mr. Imbruce said, “and we moved back to fulfill that promise.”
The recent burgeoning of New York’s Internet industry has forced some entrepreneurs — who, just a few years ago, might have felt they had little choice but to head west to pursue their dreams — to make a difficult choice. New York is now enough of an attractive alternative that a few West Coast-born start-ups are even packing up and moving east.
Much of this change has to do with the way that the technology industry has shifted toward creating consumer products and applications, rather than building the basic framework of computing and the Internet. Many new start-ups benefit from proximity to the media, advertising and fashion industries, New York’s strengths. And as the city’s industry grows, entrepreneurs say, it is offsetting some of the traditional disadvantages of being outside Silicon Valley.
There is little talk of New York overtaking the Bay Area as the hub of the country’s technology industry. And the concept of New York as a real rival to Silicon Valley can make some Californian eyes start rolling.
(Excerpt) Read more at nytimes.com ...
RTP (Research Triangle Park) in the Raleigh, Durham, Chapel Hill area of North Carolina has taken the place of Silicon Valley...
Taken the place of Silicon Valley?
LOL.
Yep...More high tech businesses moving OUT of California and many moving INTO North Carolina....
I know a few of them - they still keep all their innovation in CA - the R&D centers stay behind in CA while manufacturing ops are moved to cheaper locales. What companies have found to be near-impossible is in replicating that high-innovation environment Silicon Valley and the larger SF-LA area possess. The missing key is what I mentioned in my comment earlier - the chain of high-tech universities of the likes of Stanford, CalTech, USC, UCLA...
They shouldn't come south we are just a bunch of toothless rednecks down here. Better the Kalifornicators stay with their own kind in NYC.
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