Nashville’s Rise as a Tech Hub

Mar 1, 2021 | Mid-Point

Nashville’s Rise as a Tech Hub

When thinking about Nashville, most people envision the infamous country music destination or good Tennessee barbecue. Many do not immediately think of a growing hub of healthcare technologies or the home to several top universities developing next-level talent. But that is the Nashville we see.

A Foothold in Healthcare

Nashville boasts a booming healthcare industry generating $84 billion in global revenue. Over 4,000 healthcare companies reside in the city, along with two medical schools and teaching hospitals. With this infrastructure, it’s no surprise that healthcare tech startups gravitate toward Nashville.

Startup Amenities

Most startups need support as they get off the ground with things like finding investors, navigating the local economy and community, and locating the right talent. Nashville boasts many of these resources where entrepreneurs and tech leaders can build their networks, obtain funding, and access top talent.

Company Successes

Nashville’s ascent to tech prominence is supported by investments from large companies like Amazon, who has already hired over 1,000 people for its East Coast logistics hub. Other notable companies with a Nashville presence include Eventbrite, Google, Lyft, and Postmates.

At One America Works, we support emerging tech hubs from coast to coast. Learn more about Nashville’s emergence as a tech hub in this issue of The Midpoint.

Inside this issue

  • Spotify Announces Remote Work Option for All Employees
  • Nashville Tech Ecosystem Map
  • A Shake-up in the Ranks of Powerhouse Cities
  • Growing Tech Hubs Across the Country
Spotify
On Friday, Spotify announced its work-from-home program, which lets its 6,550 global employees choose how they want to work at the company — in an office, remotely, or at a co-working space that the company will pay a subscription for. Executives from the streaming giant say this is the future of work.

Spotify said it would continue to pay at San Francisco or New York salary rates, based on the type of job. That’s in stark contrast to Facebook and Twitter, who have said they will cut employee salaries for those who choose to relocate away from their offices in the expensive San Francisco Bay Area.

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ECOGUIDE
From startup resources and funding opportunities to tech news and education institutions, Nashville’s tech community continues to grow and thrive. Here is a snapshot of the vibrant support system available for companies and entrepreneurs to take advantage of.

The guide is broken down into the following sections: Startup Resources and Nashville Universities that include startup organizations, communities and events, accelerators, crowdfunding, regional economic development and incubators, venture capital and angel investors, tech news, and top schools in or near Nashville.

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Axios City Ranks
As the pandemic prompts people to move from pricey superstar cities to mid-tier ones where life is cheaper and easier, traditional powerhouses are being upstaged by smaller places focused on economic vitality. The 2021 Milken Institute Best-Performing Cities Index shows San Francisco, San Jose, Reno, Seattle and Dallas falling out of the top 10 places for job creation, wage growth, and innovation.

“A relatively new innovation center with significantly lower costs than Silicon Valley or Silicon Beach, Provo-Orem has attracted tech giants including Qualtrics, Vivint, and SmartCitizen, among others,” per the Milken Institute, a nonprofit think tank. This seismic shift of people and power can be a boon to the smaller cities that prosper — attracting more companies, capital and citizens.

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Growing Tech Hubs Across the Country

Columbus insurtech startup Beam Dental raises $80 million

Beam Dental, an insurtech startup based in Columbus, just secured $80 million in Series E funding, bringing their total up to $168.4 million. Like many top startups in Columbus, Beam is disrupting the insurance industry with its app-enabled toothbrush and behavior-based insurance rates.

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Nashville claims spot in top ten best performing cities in new prestigious report

This year, the 2021 Milken Institute Best-Performing Cities Index ranks the Nashville metro at the eighth best-performing city. The index tracks the economic performance of around 400 U.S. metropolitan areas.

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With 3⁄4 of Salt Lake office workers working remotely, what will future workplaces look like?

According to a recent Downtown Alliance survey of local employers, 76% of downtown office employees are working remotely, with 24% working some portion of the week from their downtown office. Employers expect work-from-office numbers to increase in the next 30 days.

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3 reasons Pittsburgh is on the verge of being a true life sciences hub

Pittsburgh’s life science industry presence is headed toward an inflection point. Since 2015, 62 companies have formed. Over the past two decades, 40% of the total new life science startups were founded within the past 5 years.

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One America Works is

a non-profit building a vision of the future where high-growth technology companies find the talent they need to grow and succeed in cities across America. Want to know more? Reach out to us at hello@oneamericaworks.org.