Utah is home to four successful unicorns: Qualtrics, Domo, InsideSales, and Pluralsight.
The emergence of a cluster of unicorns in Utah is a signal that a real tech hub may be on the brink of emerging away from the US coasts and the usual suspects, California, New York, and Massachusetts.
The best way to jumpstart a startup ecosystem is for a cluster of big exits to emerge from a previously less-dynamic city or region, as has happened in LA with the exits of Dollar Shave Club, Snap, and Oculus VR recently. Whether through IPOs or M&As, big exits have a lot of benefits, including creating new angel investors out of founders and early employees, not to mention often leading to well-capitalized and well-resourced companies that can attract and retain tech talent to the area.
There needs to be a certain critical mass for this to happen. That seems to be the case in Utah.