I moved from Austin to Silicon Valley. I now know that Austin is not a startup hub (and nowhere else is either). I used to think it was just a matter of degree, but Silicon Valley is really a dramatically different environment for starting a technology company than anywhere else in the world.
I think it's worth noting that even though Boston is considered the "second place" finisher in the startup hub races, not a single Y Combinator company has been funded in Boston, and about 90% of those from the Boston YC programs who keep working on their businesses move to the valley. I don't believe either of these things are accidents of history.
I'll move back to Austin when I "retire", or maybe even sooner, since a large percentage of our customer base is in Texas, but while we're in a position to need to raise money and to stay on top of the technology world, there's just no other place to be.
This is more like what IndyHall does in Philly:
http://www.indyhall.org/
His second goal is to network together the various startups around Austin. Austin is always mentioned as a "startup hub", but living here it doesn't really feel that way. Maybe that can change. We tend to take more pride in our live music scene, which is great :).
I think Austin is awesome and there are very smart and creative folks here, but there aren't gigantic conferences every other weekend or a huge concentration of VC's. I do see plenty of folks in coffee shops with TextMate, vi, or Photoshop open. They are usually working on something cool, it's just not hyped up on TechCrunch and such.