Here in New England, where I practice law and have been representing startups for thirty years, we have a mixed blessing. On the plus side, we have great universities, like MIT and Harvard, with professors and students that come up with great inventions that new companies can be formed to commercialize. We also have lots of folks that have done it before, that can act as mentors and role models. Those same successful entrepreneurs start more companies, and also act as angel investors for first timers. It's not quite as vibrant as Silicon Valley, but we always come in second on all meaningful measures - numbers of new companies formed and funded, and so on.
On the negative side, we've got a lot of venture capital firms that call the Route 128 area home. If that sounds like a strange statement to make, you might want to read my most recent column for Mass High Tech, which tells you why you might be better off launching a new startup in Omaha, Nebraska than in Cambridge, Mass.