iTechArt Releases a Comprehensive Report Exploring the State of U.S. Tech Startups

NEW YORK, February 4, 2020 (Newswire.com) - ​​iTechArt has published its first annual report, showing different angles of the startup ecosystems within the United States. The research contains both publicly available and unique survey-based data. 

iTechArt’s report gives readers a snapshot of the situation at hand regarding fundraising, choosing technology stack, and overall market trends, and also covers such important topics as building and motivating a startup team.

The report includes the breakdown of the total funding amount invested in startups in 2019, revealing a particularly strong focus on healthcare, artificial intelligence, SaaS, e-commerce and fintech. These industries were thoroughly examined in terms of major hubs, most active investors, popular solutions, etc.

Among the key findings were that consistent follow-up and follow-through with investors and describing a product concept in the right way are the main financial challenges while raising startup capital.

The report provides the key issues that impede startups operating within the most competitive sectors. They say raising money, finding new customers, product/market fit, and business growth are the top concerns.

Regarding regional activity, the report proves that San Francisco, New York, Chicago, Austin and Boston have the highest density of tech startups in the United States.

Through the analysis, iTechArt takes a closer look at the startup network from the perspective of a big market player. The report sheds light on the increasing trends of CTO as a service and distributed development teams, as well as elaborates on the potential success of certain languages and frameworks on the job market.

Finally, the report provides the founders’ personal opinion on a range of questions related to startup accelerators, engineering teams facilitators and hiring tips.

“We’ve been long-time observers for more than 15 years, and now we’re shifting focus towards mutually beneficial knowledge interchange with clients, partners and fellow technology leaders. Our team is sure we’ll be able to catalyze more active collaboration within the community,” said iTechArt’s VP of Business Development Konstantin Tsybulko. 

The full report is available through the following link: https://www.itechart.com/blog/state-of-us-tech-startups

About iTechArt

Founded in 2002, iTechArt helps VC-backed startups and fast-growing tech companies create successful products by building agile-dedicated teams. The company is proficient in all things web, mobile, AI and ML, as well as blockchain and VR/AR solutions. 

To learn more about iTechArt, please visit iTechArt.com.

Source: iTechArt Group