CLEVELAND -- Our city has been making waves recently as one of the best in the U.S. to start a business.

A survey by ranks Cleveland as the third-most affordable city for young professionals in the country and Forbes magazine named the city a "haven" for new entrepreneurs and start-ups.

In addition, a George Mason University study shows the state of Ohio to be in the seventh-best fiscal condition of any state.

Young CEO's in the city point to many factors that led them here, citing all the accelerator programs that help with seed money, interns and mentors.

Richard Rodman, CEO of Crowdentials, says Flashstarts "saw three kids with an idea and a little bit of market validation and they placed a bet on us."

They also point to the lower cost of living and cost of doing business compared to the New York or Los Angeles markets.

Nichelle McCall, founder and CEO of Bold Guidance, says there's also less competition.

"We have a lot of resources and access to those resources.,,there's definitely a lot more competitiveness going on in a New York where you have 8 million plus people living there."