Silicon Hills

Is Austin poised to become America's next Silicon Valley?

Is Austin poised to become America's next Silicon Valley?

Rendering of Highland Mall Dillard's space into offices for Rackspace
Austin is a top contender for America's next tech hub. Photo courtesy of Austin Community College

Silicon Valley is still the No. 1 hotbed for the tech industry, but with its ever-increasing cost of living, the country is looking for an alternative — and more affordable — tech hub.

Lots of cities want to be "it," but there can only be one "next Silicon Valley." And according to Mashable, Austin is a top contender.

The media company recently outlined four affordable U.S. regions "that may prove competitors to the Valley's longstanding title of America's tech mecca." Austin seems an easy choice. 

"Austin has the perfect mix of big business acumen and a unique, funky vibe that's attracting young professionals and tech talent to call the city home," writes Mashable. "With a reasonable cost of living and an unbeatable location for techies and entrepreneurs who want to be center stage at massive events like SXSW, Austin is sure to continue growing as one of the nation's leading tech hubs." 

Austin has the muscle — and the numbers — to back up its tech reputation too. Mashable shared stats from the Austin Startup Report, revealing that local startups received more than $993 million in funding for 2014 — a 123 percent increase from the previous year. Austin also ranked No. 1 in the 2015 Kaufman Foundation's Startup Activity Index.

Rounding out the short list of future tech meccas are The Research Triangle of North Carolina, South Florida, and the state of Colorado.