Location, location, location: it matters for any business, not just real estate. My startup has operated under a number of roofs over the years, and each one has had its ‘leaks.’
First, there was the basement of my home. It was far more spacious and well-equipped than most home offices. Besides, splurging on a rental office was absolutely not an option. Still, our inaccessibility to public transportation and our extremely limited parking capabilities let quality applicants fall through the cracks.
Then, we moved to a shared space within the Crystal Tech Fund headquarters and reveled in the networking opportunities always waiting just a few desks away. However, we missed the closed-door feel of a private office and the freedom to shout ideas across the room if needed.
Now, we have a headquarters in College Park, Md., and a satellite office in San Francisco. Based on my experiences in these vastly different working environments, here are the three similarities that make college towns a great home for startup innovation and investment.
A Wellspring of Young Talent
Both my Silicon Valley and my College Park office receive applications from young, talented developers, salespeople and more. I’m easily priced out of a highly competitive hiring market in the Valley, whereas the College Park applicants who discover us while strolling outside of campus or browsing campus job boards value the experiential benefits just as much as the financial ones.
Manpreet Singh is Founder and President of TalkLocal, a home services marketplace that turns online service requests into a live conversation with the right available business in minutes.
BusinessCollective, launched in partnership with Citi, is a virtual mentorship program powered by North America’s most ambitious young thought leaders, entrepreneurs, executives and small business owners.