Raleigh is No. 1 'hot spot' for tech startups outside Silicon Valley

Photo: John West, Triangle Business Journal

By Rebecca Troyer at Triangle Business Journal 

Raleigh is the top-ranked "hot spot" outside of Silicon Valley and San Francisco for tech startups and workers, according to a new report by moving blog SelfStorage.com.

The report evaluates several factors that contribute to startup growth and attract tech workers: Local innovation, access to capital, access to educated workers, strength of the local tech startup scene and local tech wages compared to other parts of the country. The first four factors are considered positive, while the last is considered a negative for employers.

"Local startups are hiring at a faster clip than elsewhere in the Top 12, utility patents per 1,000 people are fairly high, and venture capital is proving accessible," says the report about Raleigh.