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Silicon Alley vs. Silicon Valley. Where should I go to launch my startup?

I am working on an idea around fin tech and I am doubting which location will be best to launch my company. I know all the big VCs are in the Bay area but all the big banks are in NYC. With this in mind, I am confused and not sure about the decision here. Help, please :)


8 Replies

Dave Perry
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Dave Perry Entrepreneur
Global Business Strategist & Technology Commercialization Consultant
Ridhdhi, There are many excellent VC's in NYC also so go where your customers are ... they are most important. Dave
Teddy Matheu
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Teddy Matheu Advisor
CEO at Clear Idea Labs, LLC
From a product/idea development standpoint I would go (assuming I have a choice) to where it is easiest recruit potential customers who can help me in validating the MVP.

From a team standpoint, I would go where I can surround myself with people I trust and who bring complimentary skills to the table.

Good Luck!

Annick Fuchs
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Annick Fuchs Advisor
Startup lawyer in the Silicon Valley and Europe, ex Director Legal PayPal
Are you going to apply for licenses (money transmitter etc)? Or using bank partners for the regulated part of your business? Or is your business activity not regulated?

Martin Omansky
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Martin Omansky Entrepreneur
Independent Venture Capital & Private Equity Professional
Boston has lots of VC's and lots of financial institutions. And Boston is cheaper than New York. Sent from my iPhone
Phil Morettini
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Phil Morettini Advisor
Software Industry Management Consultant and Interim CEO | COO | CMO | CRO
Either would work fine, there are plenty of VCs in NY. Raising money is important, but where do you want to live? Startups are hard enough while living somewhere that you like. Although it seems like the practical choice, I wouldn't pick a location strictly based upon where the "money" is. If your idea is good enough and you can execute, you'll get funded.
Rod Abbamonte
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Rod Abbamonte Advisor
Co Founder at STARTREK / @startupHunter / @startupWay / @CoFounderFound / @GOcapital / @startupClub / @lastminute
Stay in your Silicon.
Jennifer Byrne
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Jennifer Byrne Advisor
Co-Founder & Partner at Quesnay Inc.
Happy to discuss we've done an extensive amount of fin tech work in both the Valley and NYC [removed to protect privacy] www.lab1492.com Jennifer Byrne Quesnay Inc. Mobile: [removed to protect privacy] *Check out our latest Innovation challenge: nabpilot.org/challenge
Thomas Duffy
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Thomas Duffy Advisor
Telehealth365
where are you now?
do you have a MVP?
do you have revenue?
Where is your customer?
Who is your customer?
Do you have product?
i would not leave your day job until you have answers to the above questions
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