Why Syracuse is a Great Place to Launch Your Business

Downtown Syracuse

It’s not by accident that StartFast was founded in Syracuse.  Do you know why the region is the place to start your next venture? Here are four good reasons:

1. Transitioning away from its industrial past, a new Syracuse has emerged: a dynamic hub for tech entrepreneurship. Take a look at the Startup Genome’s interactive startup map to get a feel for the diversity and breadth of the innovative ventures and resources here and in the region:

2. Looking for interns or fresh, innovative business associates? One of the biggest assets the region has to offer are the 500,000 students attending more than 100 acclaimed colleges and universities, three of which made Forbes’ list of the top 15 most entrepreneurial universities in the United States.

Madden School of Business at Le Moyne: An AACSB Accredited Business School boasting a tier one MBA program and StartFast’s gracious host this summer, Le Moyne offers a robust, pre-professional undergraduate education, including a strong entrepreneurship program. Inside the walls of its beautiful building, the Madden School offers ample resources, including coworking areas, a maker space with 3D printing, and an entrepreneur-in-residence who provides mentorship and guidance.

Syracuse University: In line with its ranking as the 14th most entrepreneurial university in the U.S., Syracuse University has invested heavily in supporting student-led ventures through initiatives like the Student Sandbox and the Couri Hatchery. The Syracuse Student Sandbox is an incubator launched in collaboration with and housed by the Tech Garden. The Sandbox offers students a safe environment to test out ideas and develop businesses by providing space and resources, including mentorship and legal consulting. It recently gained national recognition when Sandbox alumnus BrandYourself was featured on NBC’s Shark Tank.

Franklin Square

3. Driving this emerging entrepreneurial culture are a number of local organizations and networks that provide resources and connections to founders, mentors, and investors in the area. Here are just a few working to sustain the burgeoning tech industry’s momentum:

Upstate Venture Connect (UVC): By connecting entrepreneurs, industry professionals, investors, and mentors across Upstate New York, UVC (headed by StartFast’s very own Nasir Aliwho serves as co-founder and CEO), aims to develop a competitive, collaborative, and supportive tech culture in the region, similar to that found in areas like Boston and Silicon Valley. UVC organizes events for networking and professional development, and provides members with access to databases and connections to angel networks, industry professionals, and serial entrepreneurs for mentorship and investment opportunities.

Centerstate Corporation for Economic Opportunity: Citing $2.3 billion in regional investment over the past year, Centerstate CEO, the largest regional development institute in the area, has been instrumental in building the region’s entrepreneurial economy. Initiatives range from direct funding (Grants for Growth) to indirect support in the form of regional business forecasts, resources and networking events.

Seed Capital Fund of Central New York (SCF): Have an idea and looking for funding? This organization, also founded by StartFast’s Nasir Ali, provides competitive seed funding to regional entrepreneurial ventures.

The Tech Garden: Located in downtown Syracuse, the Tech Garden, an affiliate of Centerstate CEO, provides space, resources, programming, and mentorship to help local tech startups thrive. The Tech Garden offers access to an in-house software development team, seasoned mentors, venture capitalist networks, and bank funding sources. It also hosts a variety of programs open to aspiring entrepreneurs, such as The Germinator, a tech startup competition that offers mentorship and capital to winning contestants.

Currently,  24 companies across various industries call the Tech Garden home, including:

Spincar Logo

SpinCar, a StartFast alumnus, creates interactive 360º images of vehicles for sale with tagged, touchable hotspots that allow consumers to interact with cars virtually before visiting a dealership.

RushTeraLogo2

Founded by StartFast’s own Chuck Stormon, RushTera is a leading file storage and sharing service for multimedia producers, used by filmmakers, festivals, and studios worldwide.

Arboxy Logo

Arboxy Creative Group specializes in innovative, integrated marketing, design, and branding services to help businesses navigate the digital world.

Autumn colors

4. Aside from the awesome incentives and resources provided by these organizations, Syracuse is also just a great place to live. It boasts a hip, thriving downtown, the 7th largest mall in America, and easy access to nature and other recreational activities. As a mid-sized city, Syracuse avoids a lot of the issues that plague larger metropolises: housing in Syracuse is affordable, crime rates are low, and educational quality is high, leading to its ranking as the 4th best place to raise a family. It is strategically positioned between major Northeastern and Canadian cities, made accessible for market and leisure purposes by major highways and a recently expanded airport. While the winters may be a little harsh, spring, summer, and fall are absolutely beautiful.

Thinking of starting your next venture here, yet? Attend a local tech meetup, pitch your idea at 1 Million Cups, or get in touch with us here at StartFast!