The IT sector is no more concentrated in suburban areas, and now plays an integral part in the economy of cities around the world, according to new research.
In recent years, large urban centres like
The idea of working in the
They looked at where venture capital and start-up activity was concentrated, and found that in the US, traditional centres such as
Overall, venture capital investment had dispersed geographically in urban areas all over the country.
Researchers noted that smaller urban centres with high quality of life (measured by walkability, density and good transit) such as
So did smaller college towns like
Around the world, a number of large cities are equally housing more and more companies in the IT sector.
"Start-up activity at the global level is spiky, clustered, and concentrated in and around the world's largest and most economically important cities and metro areas," wrote
The reasons behind the move are simple; real estate in urban centres is often more affordable for small start-ups,
But what these companies seem to be mostly after is the vibrancy of urban life and the proximity with like-minded individuals to foster collaboration, competition and the exchange of ideas.
The IT sector has also become a core driver of economic growth for cities. In another article,
But the move of the IT sector to cities hasn't been pleasing everyone.
In recent months, a number of neighbourhood protests have been held in cities of the
In some instances, companies occupy entire city blocks without contributing to local businesses, as they offer many on-site perks to employees, such as free food, Some shops have had to close down, and some of these streets are near-deserted.
Companies have been defending themselves by creating community programs in order to give backó they'll do whatever it takes to stay in the city.
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