If we talk of the leading apps in the world, the name that immediately comes to our mind is Facebook, Instagram, Twitter, Snapchat, Tinder, Connected, and LinkedIn. What is common among all these apps? Well! They all originated in the US.
These are just a few social apps. If we look at somewhat less popular apps, we again find that most of them are US-based. The trend is not just limited to social media apps. You talk of any particular area – medical science, pharmaceuticals, automobiles, aviation, space technology, robotics, or filmmaking; the US is right at the top.
Have you ever wondered why all iconic social media apps come from the US? There are many reasons why this is so. Let’s discuss some of those.
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Besides, being one of the richest countries, the US is also the most powerful country in the world. In the last hundred years, they have developed a massive infrastructure in almost every field – heavy industry, manufacturing, communication, healthcare, education, and Information Technology. It becomes easier for an innovator or a start-up to operate with such a world-class infrastructure.
Great Educational institutions
If you look at the list of top colleges and universities of the world, you think of Havard, Stanford, Princeton, Cornell, and MIT. They are all American institutions with world-class research facilities and tutors. Such an environment is very conducive to promoting talent and innovation. Those who pass out from these institutions know the value of creating something new on their own.
American governments are generally very supportive of their entrepreneurs. They go out of their way to help their ventures, and also protect their interest. Most government policies are pro-industry and when it comes to starting a new business, no country in the world can match the US.
Easy availability of Funds
The most important element of a start-up is finance. It doesn’t matter how good a concept or a product is unless someone believes in the idea and volunteers to finance it. The US has one of the most formidable banking systems and is also home to the world’s leading financial institutions. Funding has never been an issue for those who plan to establish their own setup.
The U.S. was ranked first in the world when it came to public and private expenditures on research and development. It spent a massive $511 billion in 2017, compared to $452 billion by China.
The US has always been at the forefront of technological advancements despite competition from other European countries. According to the 2019 Global Innovation Index, the United States has always been the top innovative nation in the world
The US has a very robust system that supports fundamental research and innovation. That is why people all over the world have a very high opinion of its world-class system. No country in the world has contributed as much to the field of science and technology as the US. And as long as they are connected with innovative policies, there will be no dearth of world-class products.