Why build your business in the Hudson Valley? Because you can have the best of both worlds! 

During the seven years we were actively investing funds from the Hudson Valley Startup Fund, we saw many different versions of startups with a presence in the Hudson Valley. The most common of these versions included startups with their full team in the HV and startups with their leadership team in the HV and the remaining team dispersed across the US. 

In today’s world of work, where remote work and work from home make location less critical, it is understandable that a founder would hire the best-fit talent wherever they are located. This is true, especially for tech talent. 

We (HV Startup Fund) often hear from founders that they cannot easily find the tech talent they need in the HV. We believe there are two main reasons for that. First, the tech talent that is here is not easily findable since they are dispersed across the broad geography of the seven-county HV region. And second, because the HV is not actively recruiting tech talent and startups from NYC. It is a latent opportunity not yet tapped by the HV. 

For founders in NYC, why build your business in the Hudson Valley? Because you can have the best of both worlds! You can live and work in the HV, where the quality of life is amazing, and the cost of doing business is lower than in NYC. And you can easily access the NYC markets within 1-2 hours or keep a co-working location in NYC to maintain a presence there. That is the best of both worlds. 

The process of relocating a startup is often gradual. The story is a familiar one for many who have relocated here. It starts with experiencing the quality of life in the HV during weekend excursions. The next step is purchasing a weekend home somewhere in the HV. And over time, the quality of life in your weekend home leads to staying an extra day, then a few extra days. When it becomes clear you can maintain your work life while at your weekend home, the next logical step is to make your weekend home your full-time home and go back to NYC as needed. 

This best-of-both-worlds opportunity applies to startup founders, tech talent, and many others. One other example that we feel is an untapped opportunity for the HV. Perhaps the HQ for the startup needs to be physically in NYC. For those startups who also need a large marketing team or back office operations team, why not locate those in the HV where the cost of business is less than NYC.  Another example of the best of both worlds. 

One final thought. Is it the chicken or egg that comes first? Do we first need a vibrant startup ecosystem to attract and support these startups to the HV? Or does the attraction of these startups to the HV lead to a more vibrant entrepreneur ecosystem? Let's just say we need to make the chicken and the egg happen at the same time. We are five-plus years into building the entrepreneur ecosystem through the leadership of the HV Venture Hub at SUNY New Paltz. In parallel, we need to begin more proactive efforts to attract startups here from NYC (and other locations) with our best-of-both-worlds opportunities and stories.

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Tony DiMarco, Founding Manager, HV Startup Fund. Tony has been educating startup entrepreneurs since 2016 in his role at GCSEN Foundation. Co-founder of the HV Venture Hub. Founder of Natural Roles, LLC, a career coaching company, and author of The Perfect-Fit Career. Executive Producer of Veteran’s Playbook, a TV show featuring the stories of veteran entrepreneurs (Season One aired on Destination America Fall 2023).