Stories of Technology, Innovation, & Entrepreneurship in the Southeast

New York University’s School of Professional Studies has published its 2024 “Cities Emerging Technology Index” (CETI), which is focused on the 55 largest metro areas in the country. For that reason, only two Volunteer State cities made the rankings. The Nashville area ranked #28 with a 15.1 CETI score, while Memphis came in at #53 with a 4.3 CETI score.

How do they compare with the top-ranked cities?

1. San Jose, Sunnyvale, and Santa Clara, CA (66.5);
2. San Francisco, Oakland, and Berkeley, CA (46.4);
3. New York City, NY, and Newark and Jersey City, NJ (44.0);
4. Washington, DC, and Arlington and Alexandria, VA (39.0);
5. Seattle, Tacoma, and Bellevue, WA (37.3);
6. Boston, Cambridge, and Newton, MA-NH (34.5);
7. Austin, Round Rock, and Georgetown, TX (31.4);
8. Los Angeles, Long Beach, and Anaheim, CA (30.2);
9. Denver, Aurora, and Lakewood, CO (27.9); and
10. San Diego, Chula Vista, and Carlsbad, CA (27.6).

The CETI evaluates factors including but not limited to the activities of technology companies, research spending, education, city livability, and perceived innovativeness and involvement of residents in technology initiatives. When considering technology growth and innovation, the authors note that they have directed their attention to the following eight areas of emerging technologies:

1. Artificial Intelligence (AI): A transformative, versatile technology with the capacity to impact entire economies and reshape society.
2. Immersive technologies: Are shifting from fantasy metaverses to practical applications. Integrating AI and extended reality (XR) creates synergies, potentially marking a pivotal moment for the industry.
3. Blockchain: Encompasses peer-to-peer distribution, decentralization, immutability, encryption, and tokenization.
4. Robotics: Consumers embrace electric and semiautonomous vehicles, which collect data and assist or replace human tasks. This shift promotes efficiency and monitoring in the workplace.
5. Biotechnology: Recent breakthroughs converge biology, information systems, and advanced platforms combined with generative AI promise transformative applications.
6. Internet of Things (IoT): Involves sensor-embedded physical objects communicating with computers. Businesses increasingly adopt automated software for data collection and analysis and IoT plays a crucial role in Smart Cities solutions, adapting to evolving market conditions.
7. Energy and Sustainable Solutions: Technologies that combat climate challenges including solar geoengineering, ocean chemistry manipulation, and the infrastructure for renewable energy such as smart grids, energy storage, and carbon tracking.

How did other Southern cities fare?

1. #12: Raleigh and Cary, NC (26.0);
2. #14: Atlanta, Sandy Springs, and Alpharetta, GA (24.3);
3. #17: Miami, Fort Lauderdale, and West Palm Beach, FL (23.2);
4. #22: Orlando, Kissimmee, and Sanford, FL (17.2);
5. #23: Tampa, St. Petersburg, and Clearwater, FLA (16.5); and
6. #25: Charlotte, Concord, and Gastonia, NC (16.3).

Among the key findings were these:

1. Entertainment as a Catalyst for Innovation: Cities offering diverse entertainment and high-quality life experiences tend to attract more young talent, which drives technological innovation and development.
2. Economic and Policy Factors Drive Growth: Robust economic policies around education, patents, taxation, and immigration are key drivers of tech sector growth, with cities like San Jose, San Francisco, and New York benefiting from clear and supportive frameworks.
3. AI and Emerging Technologies: Cities leading the charge in AI and emerging technologies are well-positioned for future growth. Seattle and Austin are highlighted for their residents’ enthusiasm for these technologies.
4. Infrastructure is Critical: Both physical and digital infrastructure play a pivotal role in fostering a thriving tech ecosystem. Cities with solid infrastructure attract more investments, talent, and start-ups, fueling continuous innovation.
5. Regional Strengths and Weaknesses: While coastal cities like San Jose and New York dominate the rankings, smaller areas such as Raleigh-Cary top the lists of residents’ satisfaction with public services, and others like Rochester and Buffalo, New York, stand out for their residents’ confidence in emerging technologies.

---