Startups · Entrepreneurship

Silicon Alley vs. Silicon Valley. Where should I go to launch my startup?

Anonymous

September 14th, 2016

I am working on an idea around fin tech and I am doubting which location will be best to launch my company. I know all the big VCs are in the Bay area but all the big banks are in NYC. With this in mind, I am confused and not sure about the decision here. Help, please :)


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Dave Perry Global Business Strategist & Technology Commercialization Consultant

September 14th, 2016

Ridhdhi, There are many excellent VC's in NYC also so go where your customers are ... they are most important. Dave

Teddy Matheu CEO at Clear Idea Labs, LLC

September 14th, 2016

From a product/idea development standpoint I would go (assuming I have a choice) to where it is easiest recruit potential customers who can help me in validating the MVP.

From a team standpoint, I would go where I can surround myself with people I trust and who bring complimentary skills to the table.  

Good Luck!

Annick Fuchs Startup lawyer in the Silicon Valley and Europe, ex Director Legal PayPal

September 14th, 2016

Are you going to apply for licenses (money transmitter etc)? Or using bank partners for the regulated part of your business? Or is your business activity not regulated?

Martin Omansky Independent Venture Capital & Private Equity Professional

September 14th, 2016

Boston has lots of VC's and lots of financial institutions. And Boston is cheaper than New York. Sent from my iPhone

Phil Morettini

September 14th, 2016

Either would work fine, there are plenty of VCs in NY. Raising money is important, but where do you want to live? Startups are hard enough while living somewhere that you like. Although it seems like the practical choice, I wouldn't pick a location strictly based upon where the "money" is. If your idea is good enough and you can execute, you'll get funded.

Rod Abbamonte Co Founder at STARTREK / @startupHunter / @startupWay / @CoFounderFound / @GOcapital / @startupClub / @lastminute

September 15th, 2016

Stay in your Silicon.

Jennifer Byrne Co-Founder & Partner at Quesnay Inc.

September 15th, 2016

Happy to discuss we've done an extensive amount of fin tech work in both the Valley and NYC jen@lab1492.com www.lab1492.com Jennifer Byrne Quesnay Inc. Mobile: 646.477.0571 *Check out our latest Innovation challenge: nabpilot.org/challenge

Tom Duffy

September 15th, 2016

where are you now?
do you have a MVP?
do you have revenue?
Where is your customer?
Who is your customer?
Do you have product?
i would not leave your day job until you have answers to the above questions