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
Pure Pitch Rally reveals competitors for its 10th crowd-funded, spot-cash pitch contest
Eight emerging startups set to take the Pure Pitch Rally stage next month will become part of the Kansas City tech community’s evolving story, said Karen Fenaroli, touting a decade of impact that has seen millions in follow-on capital raised and thousands of jobs created across the region. “It is no longer just an event,”…
Sisters brew backyard-style beers from a historic firehouse in Budweiser territory
Editor’s note: The following story was produced through a paid partnership with MOSourceLink, which boasts a mission to help entrepreneurs and small businesses across the state of Missouri grow and succeed by providing free, easy access to the help they need — when they need it. SPRINGFIELD, Mo. — A midlife career crisis took Carol…
LISTEN: Meet the partners behind Plug and Play Topeka’s growth (and impact)
On a special episode of Startland News’ 12-part podcast series diving deeper into Plug and Play, we explore how the Topeka-based program and its partners work to turn bold ideas into Kansas success stories. Guests includes Bret Lanz from Kansas State University’s Technology Development Institute; John G. Brown of StenCo; and Cole Ahlvers from NQV8…
Pour decisions: Craft beverage enthusiasts add Sunday tasting event to KC’s pregame cart
Kansas City’s roster of craft beverages — from rookies to veteran players on the scene — come to the field in a wide range of uniforms, said Jason Burton, noting there’s no better time to checkout the lineup with thirsty friends than as the Chiefs return to Arrowhead Stadium this weekend. The play: showcase Kansas…