KC’s startup economy so-so, study says
August 3, 2015 | Bobby Burch
Kansas City for years has been making waves as an innovative community.
Launching and attracting dozens of tech ventures serving a variety of industries, the Kansas City metro’s brand as an entrepreneurial hub continues to grow. But how does it compare to other communities in the U.S.?
While focused on St. Louis, a recent report by the East-West Gateway Council of Governments aimed to answer that question. The group’s “Where We Stand” report analyzed 90 metrics such as innovation, segregation and economic opportunity.
The report looks at the top 50 cities in each category. Here are a few key findings related to innovation and startup business activity:
- Patent creation: Kansas City was granted on average 8.8 “utility patents” per 10,000 employees in 2013, giving it a No. 19 ranking in the U.S. Utility patents are issued for the invention of a new “process, machine, manufacture or composition of matter” and comprise about 90 percent of patents issued, according to the U.S. Patent and Trademark Office.
- Startup formation: Kansas City ranked as the No. 22 city for per capita startup formation, with 136.6 startups per 100,000 residents, according to the report. The U.S. average is about 130 startups per 100,000 residents.
- Venture capital investments: In 2014, Kansas City ranked as the No. 31 city for venture capital investment per employee in dollars, with about $90 per employee. For comparison, St. Louis on average had about $95 per employee (No. 28 ranking), Denver about $363 (No. 9 ranking) and San Francisco $8,002 (No. 1 ranking).
- STEM employment: In 2011, about 20.4 percent of all Kansas City jobs required science, technology, engineering or math skills, ranking it No. 28 in the nation. About 22 percent of St. Louis jobs required STEM expertise (No. 14 ranking), Austin about 22.7 percent (No. 10 ranking) and San Jose 33.2 percent (No. 1 ranking).
- High-speed Internet: About 10 percent of Kansas City’s population has access to gigabit Internet, earning it a No. 13 ranking. About 14 percent of Chicago has access to such speeds (No. 9 ranking) Salt Lake City about 40 percent (No. 4 ranking) and Providence about 64 percent (No. 1 ranking).
Featured Business
2015 Startups to Watch
stats here
Related Posts on Startland News
After 2014 departure, Lyft operations return to KCMO
Kansas Citians now have more ridesharing options than just Uber. After nearly a three year hiatus, the ride-sharing giant Lyft on Sunday re-launched its operations in Kansas City, Mo., including Kansas City International Airport. Lyft’s arrival represents more local competition among Uber and Lyft, and more choices for riders in Kansas City. Lyft already was…
Grietens seeks entrepreneurs’ input on how to make Missouri more innovative
Missouri Gov. Eric Greitens is seeking input from the Show Me State’s entrepreneurs, investors on how the state can foster more innovation. In June, Greitens launched a task force to spur startup activity and innovation in the State of Missouri. Over the past month, the Innovation Task Force hosted a handful of workshops throughout the…
Ex-detective, startup champion Donald Carter discusses mayoral run, priorities
Community builder and former detective at the Kansas City Police Department Donald Carter has announced his candidacy for mayor for Kansas City, Mo. In March, he made national headlines (and a Startland News headline) via a random act of kindness. Carter helped raise over $15,000 for Shajuana Mays, a young woman he met behind the…
Kansas City group aims to set world record for largest coworking event
The organization binding Kansas City’s coworking businesses hopes to set a world record for the largest single gathering of coworkers. Organized by the Kansas City Coworking Alliance, KC Coworking Day will gather hundreds of entrepreneurs, freelancers and others to set the coworking world record at Plexpod Westport Commons on Aug. 9. The event will also…