Seek your app economy future in Idaho

Now is the time to position your app idea as one of the next great startups. Idaho is at the forefront of a modern gold rush, a gold rush of innovation. We have the talent and the infrastructure to allow any entrepreneur with a great idea to turn that idea into a profitable product. When it comes to turning your app idea into a successful startup, there are a lot of things to consider. Do you have a local or regional partner that understands the unique constraints and opportunities of your business environment? Idaho is emerging as a vibrant hub for innovation and entrepreneurship, particularly in the app development space. You are probably already aware of the recent startup boom in Utah.

Companies from all over the US are now looking there for talent and capital. Idaho is quickly becoming a leader in the next wave of innovation with startups in a variety of verticals making an impact. Can you also get the expertise in this app boom from a company that is also able to leverage its global footprint? At Utah Tech Labs, you can.

Here are three things you should know about the emerging boom of tech startups in Idaho. Utah Tech Labs is equipped to transform your app concept into a thriving business, guiding you through every step of the process.

Strong venture capital environment

The West gets more startup funding than any other region of the US. Half of the top ten states for venture funding are in this region. Utah Tech Labs is engaged with this vibrant local scene, but they also have a global network of developers and project managers with expertise in specific business verticals. Those experienced professionals can bring a unique set of experiences and perspectives from outside of this region. In Idaho, 2021 venture capital investments totaled 370.3 million.

One of the main reasons for the region’s strong venture funding is the presence of reputable venture capital firms and angel investors who actively seek out promising startups. Firms like Pelion Venture Partners, and Signal Peak Ventures have a significant presence in Utah and have backed scores of ventures that went on to see success. One Ventures, StageDot0, and Capital Eleven are funding innovation in Idaho. These firms know how to help you structure your app idea into a successful business.

Strong economic fundamentals help launch unicorns

For 2023, U.S. News & World Report named three western states as being in the top 10 places to live, with Utah coming in at the very top. Close behind is Idaho at No 2. Idaho is No. 1 for economic growth and it is in the top 10 in both the overall economy, fiscal stability, and infrastructure!

Cora Whitney of Smith and Malek notes that as the population of Idaho has rapidly grown, so has the state’s economic prosperity. There are many programs designed to help new entrepreneurs get started and stay in business. The governor’s office and many local Chamber of Commerce organizations offer advice and guidance to anyone looking to start a business in the state. In addition, Idaho has relatively low property taxes, and the corporate income tax rate is just 6%. Add that to the lifestyle in a state that has every kind of natural environment from snowy mountains to sandy dunes, to scenic waterfalls and river canyons, and Idaho simply can’t be beat.

Flourishing startup ecosystem

The West’s app startup ecosystem is thriving, thanks to a combination of factors. World-class universities produce a steady stream of talented graduates in technology-related fields. These graduates often become the driving force behind new app startups, bringing fresh ideas and technical expertise to the table. In recent years this has created a class of serial entrepreneurs who are looking to put their experience into the next successful app startup. Utah Tech Labs has been part of this cycle of success with several partners.

Idaho has the No. 1 ranked growth economy in the US. Startups are a big part of that success. Idaho has its own Innovation Center and Business Accelerator. Boise is one of the fastest-growing cities in the country and is especially popular among young college graduates. Chances are that you can find the talent you’re looking for locally, but this dynamic state is an easy sell to top talent from elsewhere.

Startups have the benefit of co-working spaces, startup incubators, and networking events, which all provide an environment where app founders can receive guidance, mentorship, and access to resources. Utah Tech Labs expands this valuable local experience to bring founders and tech visionaries in their network to your business. Put simply, these resources make it easier to turn app ideas into successful businesses.