BizSugar.com › Startups › Entrepreneurial Hotspots Are Where Startups Are Headed

Recently, Ray Leach, the CEO of JumpStart Inc., aroused the ire of economic development advocates for defending the move of a local startup named Phenom to entrepreneurial hotspot San Francisco to join 500 Startups, a top accelerator.
As an entrepreneurship researcher, active angel investor and columnist, I am frequently confronted with the question, “What should promising high potential startups in less vibrant entrepreneurial ecosystems do to raise capital?”
And all too often, the answer is to leave town.
As I see it, there are four reasons why promising companies that need capital should leave places like Cleveland for entrepreneurial hotspots like San Francisco.