What is the best neighborhood for a new startup in NYC?
Best places to live in - April 30, 2019
Million dollar investments, young, innovative designers, the development of advanced ideas… Those are all associations when referring to perhaps the most used term in the economy of today: a startup. But little do people know what the startup is actually. Especially in a place like New York City. Everyone wants to start something, get rich and get their own 5 minutes of fame – in less than 5 minutes. Still, leaving this aside, let’s answer the burning question: what is the best neighborhood for a new startup in NYC?
Before we talk neighborhoods, let’s start with some basics
A startup is a firm in its earliest, zero development phase. A company as such is most likely not yet registered and has a small team. In this team, each individual takes on several roles. The programmer could be the technical director and the product development manager, while the director often performs, besides the tasks of managing the entire project, also HR, marketing, and sales. So before you even start moving your business, you have to have patience and ideas to start a startup company. And that is not easy.
How do startups work in NYC?
Startup consists of a group of people gathered around the ideas they believe in. This can imply that they will develop a product, service, or platform that solves some real problems in a new, better and more efficient way, offering a completely fresh product or service.
Maybe a startup will become a real company, and maybe it will never reach that stage. Perhaps startup will throw away 30 ideas until they reach the one that is worth the elaboration. They may have created a prototype of their future product and are already looking for investors. Or maybe they are looking for business partners and are just based on the idea. So you need a team of people you trust in and an idea. Startups usually gather friends who become coworkers, so hopefully, you have a team around you… Or you have already checked the neighborhoods where millennials live in NYC. But where to base your startup company?
New business or a startup?
Before you start dreaming about millions of dollars with your best friends, let’s just make one thing clear. True, any work in its initial phase can be called startup, which is the cause of many doubts. Still, a startup as something completely different from the new business. Firstly, the startup in this definition implies innovative technological entrepreneurship. The other necessary feature of the startup is that it is scalable. This means: the startup should have the potential to grow in a short time.
These two traits are closely related: only an innovative technology business can be scalable. This is because it has a market around the world and the product is easily duplicated in countless copies… Which you can easily sell to millions more! For example, a software does not require drives in which employees in shifts make copies, as well as infinite warehouses, etc. So startup is a technology business that is innovative and can (at the very least) aim to grow very fast and very much. And in which, if successful, everyone wants to invest money in.
The best neighborhood for a new startup in NYC
The main area for New York is Silicon Alley of course. However, there’s more to NYC than just Manhattan. Some of the neighborhoods worth thinking about are:
Flatiron district in Lower Midtown
Sometimes referred to as Toy District, this area is a great neighborhood for those who want to invest money in their new business.
The name Dubmo stands for Down Under the Manhattan Bridge Overpass so it’s immediately clear that it connects Manhattan and Brooklyn… With rightfully earned nickname: the center of the Brooklyn Tech Triangle due to a number of tech startups there.
If you are looking for something with lower prices and a great place to work, think Kensington You’ll find this area quite affordable, especially by Brooklyn and New York standards. Hire some Kensington movers and you’ll see a difference in numbers; everything is cheaper, from real estate to daily expenses.
You could also check Long Island City (Queens), Williamsburg/Greenpoint, Hoboken (New Jersey), St. George (Staten Island) and The Hub (Bronx). Two neighborhoods that are being more and more startup popular are the NYTech Campus on Roosevelt Island and Industry City in Brooklyn.
There is no guarantee for success
With that, New York is a big place. So if you are thinking about the best neighborhood for a new startup in NYC – there is no real answer. Any place can be good if your ideas – and your team – are good. Still, it’s better if you work in an environment that will enhance your success. For example, both Queens and Brooklyn are great neighborhoods for startups. In this way, you can maybe move your entire business to the border of two boroughs and get the best of both worlds. If so, you can easily move with Highland Park movers – and start your business in no time.
But you should believe in your dreams
It is worth reminding that almost all major IT companies in the 200 most valuable in the world have begun as startups – with a couple of people and ideas. Some of these people were Jeff Bezos (Amazon), Mark Zuckerberg (Facebook), Larry Page and Sergey Brin (Google), Jack Ma (Alibaba), Elon Musk (Tesla Motors), or controversial Travis Kalanick (Uber). They all have in common that they were once poor developers or engineers, and today they are billionaires.
So what is the best neighborhood for a new startup in NYC? There are different ideas and there are different people who believe in startups. What it’s common for everyone to have an idea they believed in, that investors were convinced that this idea was good and that they succeeded. So the neighborhood is not a key to success as thousands of those who have tried the same come to each of those who succeeded.