Charleston, South Carolina is often known for its historic downtown area and beautiful coastal views; however, in recent years the city and metro area has become the home for budding startups. For example, the Milken Institute recently reported that Charleston is the 5th city in the United States for high-technological industry output. The region is slowly developing into a hub for technology startups and is starting to outpace other cities, like Austin, Texas, in its growth of technological jobs. The region has become a hub for entrepreneurship and technological innovation, but is looking to attract additional social networks and social trusts in order to finance budding businesses.
The city is currently alive with technological and innovative talent and is working to secure additional interest from venture capitalists. Although Charleston is currently ranked as the 75th largest metro area in the United States, many people who work in Charleston work primarily online. According to the Charleston Regional Development Alliance the city is ranked in the top 10 fastest growing cities for software and internet technology. Recently, companies like Blackbaud, Boeing, Google, TwitPic, BoomTown and Amazon’s CreateSpace have offices or have emerged from Charleston to help make-up the local technological landscape.
Many people believe that one of the reasons Charleston has become a hub for entrepreneurs and innovators is the beautiful climate and comfortable culture. People who are in the technology industry are able to work from where they want to because most of their work is mobile. Many of the local startups also rely on out-of-town talent to support their work. Local universities also help to produce people with a knowledge set that is well equipped to work in the budding technological climate.
The city and state have been supportive about developing Charleston as the home of technological innovation. For example, the Industry Partnership Act invests $200,000 out of a fund that is made up of individual and corporate donations to local startups in order to supportive innovative work. In the last ten years, Charleston has dramatically grown to support the technology community and will continue to receive support from incoming technological advancements, like Google Fiber.
Many of the companies within the Charleston area are growing in size and entrepreneurs can find shared working spaces from which they can grow their companies. Although Charleston is still catching up to some of the larger technological cities, such as San Francisco or New York, it is beginning to become a medium-sized player in producing entrepreneurs.