Richard Florida, co-founder and editor of The Atlantic Cities and director of the Martin Prosperity Institute, has crunched the available data and found (along with some other studies) a shift underway within the venture capital community away from the suburbs and towards urban areas.
Florida's MPI team took 2012 venture capital data from sources, such as the National Venture Capital Association, and matched it (approximately) to the institute's economic and demographic data for more than 100 metros.
The data illustrates how venture capital has become more distributed than in the past. Silicon Valley is still a leader. But it's no longer the only influential VC hub in America.
The top 10 locations for venture capital investment and the total investments in 2012 are listed below. For additional detail check out Florida's write up in the Atlantic Cities.
- San Franciso-Oakland — $6.896 billion
- San Jose-Sunnyvale, Calif. — $3.985 billion
- Boston, Mass. — $3.1 billion
- New York — $2.268 billion
- Los Angeles — $1.677 billion
- San Diego — $1.134 billion
- Seattle — $886 million
- Austin, Texas — $626 million
- Chicago — $547 million
- Washington D.C. — $484 million
- Philadelphia —$ 347 million
- Denver — $264 million
- Atlanta — $262 million
- Boulder, Colo. — $256 million
- Minneapolis-St. Paul, Minn. — $256 million
- Santa Barbara, Calif. — $251 million
- Phoenix — $214 million
- Raleigh-Cary, North Carolina — $184 million
- Pittsburgh, Penn. — $167 million
- Provo-Orem, Utah — $162 million
Photo: Flickr user Bill David Brooks
This post was originally published on Smartplanet.com