Rich Gorman talked to Technorati about the great potential for startups in Philadelphia.
You can get a lot of bang for your buck in Philadelphia. It’s considerably less expensive to start a company in Philly versus NYC or San Francisco. Rent, salaries, vendors, shopping, and entertainment are a fraction of what you would pay in more common tech start up areas. cost of living among the nation’s 20 largest metropolitan areas in the 3rd quarter of 2012, according to the American Chamber of Commerce Researchers Association.
"In Philadelphia, there’s a TON of talented people that are competing for a great career," Gorman continues. "In places like Silicon Valley, it’s the exact opposite; it’s cut throat in competing for talent." This, he explains, is why Silicon Valley startups are forced to take outside capital. In Philly it’s easy to bootstrap a company with no outside capital, preserving your shares early in the game.
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