The U.S. has long been known for its innovation, which is driven in large part by its entrepreneurial spirit. While the recession certainly left few markets unscathed, it appears as if the country's startup scene is more optimistic than it has been in some time, according to the Startup Outlook 2011 survey from Silicon Valley Bank.
Released Friday, the report found 83 percent of surveyed startups - U.S.-based, private, venture capital-backed software, hardware, life science or clean tech businesses - plan to hire this year, compared to 73 percent last year.
The news bodes particularly well for California, as that state, particularly the Silicon Valley area, serves as a hub for startup and entrepreneurial activity.
"This new data, however, clearly shows that technology companies met or beat their 2010 revenue targets, are still experiencing improved business conditions and are creating U.S. jobs," said Greg Becker, CEO of SVB Financial Group and Silicon Valley Bank.
"There is no question that the innovation sector is making a tangible impact on the U.S. economy and our ability to compete globally," he added.
The report comes the same week as a global study by the World Economic Forum that found the top 1 percent of startup companies create 40 percent of jobs in the sector, which may ultimately encourage a few entrepreneurs to incorporate in California and strive for that top tier.
Tags : ca, incorporation news, small business management
Posted: Apr 22nd, 2011