Posted Nov 16, 2014, 4:32 PM
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Join Date: Aug 2006
Location: Downtown Los Angeles
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MOVE OVER, SILICON VALLEY: UTAH HAS ARRIVED
When it comes to staggering sums of venture capital raised in 2014, there's Utah, and then there's everyone else.
By Ilan Mochari
http://www.inc.com/ilan-mochari/silicon-valley-utah.html
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...James has no qualms with how things turned out for Omniture. But leaving aside that successful outcome, he cannot quite forget how Omniture--when it was a startup--endured a needless three-year wait before receiving the venture capital it warranted. He knew he was hardly the only Utah entrepreneur who felt slighted by the Silicon Valley VC mainstream. So he founded Silicon Slopes, a promotional nonprofit to help with the branding of Utah's tech community, "as a way for us to highlight how much is really going on out here," he says.
"Ten years ago, [the Utah tech scene] wasn't getting any of the press," he adds. Despite the successes of Vivint, Qualtrics, Omniture, and others, James still believes there's a general ignorance about Utah's entrepreneurial ecosystem. To underscore this notion, James cites the list I included at the top of this article. "Even ranking Provo-Orem and Salt Lake as separate entities highlights that there's still a lacking in people's understanding," he says.
To his point, not one entrepreneur or investor I spoke to for this story even remotely considered Provo-Orem and Salt Lake City as distinct or separate metro areas. Unanimously, they asserted that Utah's entrepreneurial community was statewide. To wit, Orem and Salt Lake City are only 40 miles apart. Los Angeles and Long Beach, treated as one entity on the fundraising list, are about 25 miles apart.
James adds that had Utah's two metro areas been considered as one entity, it would've ranked sixth on the list, ahead of Seattle, Chicago, and Washington, D.C.
Taken from a national perspective, Salt Lake City, in particular, has emerged as what CBRE, the commercial real estate company, calls a "high-value" market...
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Last edited by delts145; Nov 20, 2014 at 12:46 PM.
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