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Homes in Kensington, one of London's most expensive neighborhoods. (Flickr/Klovovi)

Startup founders take note: In entrepreneurship, as in real estate, location matters. A lot.

According to a new study by consumer finance site NerdWallet, smaller cities provide just as much fuel for startups as larger metro areas. Crunching Census data on 463 U.S. cities with populations between 50,000 and 100,000 revealed that would-be business owners have options and resources in places from Alpharetta, Georgia, to Corvallis, Oregon, that aren’t necessarily on everyone’s radar.