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For decades, Silicon Valley has held a monopoly on the tech startup industry. Some of the most successful companies of recent decades have come out of the Valley, and more startups spring from the area than anywhere else in the world. However, launching a startup in the Valley has always had severe limitations, especially for Black and brown founders. The most obvious limitation is the prohibitive cost of living in Silicon Valley. With an average house price near $1 million and the average rent inching closer and closer to $3000 , merely surviving has been a significant stress factor for most young entrepreneurs in the city. Silicon Valley’s enduring legacy of racial and gender discrimination has made everyday life particularly uncomfortable for many non-male, non-white startup founders. Over the past few years, the tech industry in cities like Seattle, Austin, and, more recently, Atlanta, have exploded. Yet, the industry seems to have overlooked one city with enormous potential:...
A recent report by Volusion reveals the 15 U.S. cities that house the largest number of minority-owned startups . California appears most often on the list, representing five cities. San Jose, Riverside, and Los Angeles occupy the top spots on the list, followed by San Francisco in fifth place and the state capital, Sacramento, in last place. Other cities in the top 10 include Miami, Florida and San Antonio, Texas. The absence of some major cities on the list points to a larger issue. Minority representation in the startup arena pales in comparison to the overall U.S. minority population. While minorities are on pace to constitute more than one half of the U.S. population in the next 25 years, minority-owned startups make up just over 25 percent of new businesses. In addition, the presence of minority-owned startups in many of the listed cities is disproportionate to the city’s overall minority population. Volusion reports that “ Out of the 50 largest metropolitan areas in the U.S.,...