Provo has been ranked #7 Most Innovative Tech Hub in the Nation by NerdWallet! According t0 NerdWallet, Provo is another city that benefits from having a large community of young, well-educated workers. The national spotlight recently fell on a Provo startup, Cerebral Success, which focuses on brain health, and it earned a chance to compete on the TV show “Shark Tank.” Factors that NerdWallet considered:
- Number of patents per 1,000 residents. We looked at the number of patents granted in the technology class by the U.S. Patent and Trademark Office in each metro area from 2009 to 2013 to find the areas with the most inventive residents.
- Financial support for innovation. We examined the amount of venture capital funding an area received per capita in 2014 to understand if entrepreneurs have access to the capital they need.
- Economies of agglomeration. Agglomeration — nearness of location — is used here to describe the benefits when companies, like startups, cluster together. The higher the density of startups, the more innovators can benefit from common labor pools and idea sharing.
Check out more of the ranking here: nerdwallet.com/blog/cities/americas-most-innovative-tech-hubs/