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
Helix Health finds ‘enlightening’ support in Spencer Fane’s new STARTUP Lab, co-founder says
Spencer Fane’s STARTUP Lab already is having an impact on its first selected company, Helix Health, said Aaron Deacon. “It has been a really enlightening experience for me,” said Deacon, co-founder of Helix Health alongside Anurag Patel, explaining support from the law firm. “To have the advice and help from other people who know how…
PawConX to launch social networking for dogs; fetching beta test feedback now
Most dogs adapt quickly to social situations, said Kwinton Scarbrough, but their two-legged companions can be more complex and anxiety-ridden about meeting new people. “We’re creating a way for dog owners to socialize, connect and collaborate without having to give away their personal information,” said Scarbrough, CEO and founder of PawConX, a free mobile social…
7 ways to deck the halls in Kansas City style
Editor’s note: Below you’ll find a list of seven ways to spruce up your holiday decor courtesy of Kansas City creatives. Click here to check out the rest of Startland News’ 2019 Gift Guide. Handpainted ornaments Bright and unexpected, Ampersand Design Studio ornaments hope to make a modern splash on the bows of traditional Christmas…
5 gifts for yourself (courtesy of KC makers)
Editor’s note: Below you’ll find a list of five gifts you can snag for yourself amid the holiday shopping madness. Click here to check out the rest of Startland News’ 2019 Gift Guide. Soaps and bath bombs Handmade in Westport, Bear Soap Co. is an extension of Midcoast Modern and provides non-toxic soaps and bath…