Popular business magazine Inc. just named Milwaukee as one of three unexpected cities for startups, despite Milwaukee’s lack of startup activity in recent years.
Out of the nation’s 40 largest metropolitan areas, the Milwaukee region ranked second-to-last in Kauffman’s 2016 Index of Startup Activity Report, which evaluates startup activity in states and metro areas. Thus, it came as a surprise when popular business media outlet Inc. recently listed Milwaukee as one of three great, underrated cities for startups looking to save some money.
Inc. cites abundant co-working spaces, low rent costs and venture capital funding growth as notable assets for budding entrepreneurs who are looking for a more affordable alternative to big cities. In 2016, Milwaukee saw $111.8 million in venture capital funding for startups – a remarkable 145 per cent increase from the previous year. Milwaukee’s proximity to Madison, a well-established startup hub, serves as an additional benefit.