There are already so many reasons to love Charlottesville: the food, the music and the mountains, to name a few. And now we have another reason to add to the list: Entrepreneur Magazine named the city the No. 4 best city for entrepreneurs. Read on to learn more.
The Charlottesville, Virginia, area continues to draw plaudits for its entrepreneurial ecosystem, with Entrepreneur naming the city No. 4 on its list of the 50 best cities for entrepreneurs.
The methodology takes into account a number of factors to identify the “best places to launch and operate a business,” including the number of businesses and employees between 2011 and 2015, the number of venture capital deals in the last 10 years, the business tax rate, cost of living, the percentage of college-educated locals and the growth of good jobs and high income positions, among other data points.
The result, published in the magazine’s August issue, is what the publication calls “50 of the nation’s most livable, viable cities for entrepreneurs to be successful and enjoy life.”
The latest accolade for the city reinforces the portrait of an entrepreneurial scene on the rise, as the National Venture Capital Association recently named Charlottesville the fastest-growing venture capital ecosystem in the nation, a designation driven in part by investments secured by several ventures supported by the University of Virginia Darden School of Business.
Moreover, the latest ranking comes less than a month after Financial Timesnamed the Darden School the No. 3 MBA program in the world for entrepreneurship.
The Financial Times’ ranking noted Darden’s ability to help entrepreneurs start, finance and recruit employees to their ventures as key to the School’s high ranking.
The School’s increasingly robust entrepreneurial ecosystem, driven by the efforts of the Batten Institute for Entrepreneurship and Innovation, includes a curriculum focused on the development of entrepreneurial skills, resources such as the W.L. Lyons Brown III i.Lab at UVA and the Batten Venture Internship Program, partnerships with startup incubators across the country and thought leadership displayed in research and at conferences, among other efforts.
“This ranking shows just how much Charlottesville hits above its weight in terms of its entrepreneurial energy and dynamism” said Sean Carr, executive director of the Batten Institute. “It’s a reminder that this is an exceptional environment in which to launch game-changing new ventures and, with the support of Darden and UVA, to become a great entrepreneurial leader.”