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
One-woman act with 68 stages: Kathryn Golden rallies 152 bands for PorchFestKC
A front porch concert isn’t the typical way to meet your neighbors, Kathryn Golden admitted, but it’s unconventional experiences like those that truly unite communities, the PorchFestKC founder said from atop a stoop in the Midtown Roanoke neighborhood. PorchFestKC — the city’s original porch-packed community music celebration, which returns Saturday for its fifth year —…
Is KC getting lapped? Kansas City scores No. 13 among Top 25 Midwestern cities in M25 ranking
Kansas City is maintaining a spot firmly in the middle of the pack among the top 25 Midwestern startup cities — in large part thanks to a $100-plus million growth equity investment in PayIt earlier this year, according to a new ranking by M25. The mega-round for Kansas City’s leading GovTech startup kept the City…
Plexpod rebrands womxn-led Herspace coworking concept with InnovateHER KC partnership
A year after Plexpod unveiled its Herspace concept at Westport Commons, a womxn-centric community and networking organization is partnering with the coworking leader to provide reinvigorated programming and support for startup leaders, Lauren Conaway said. “We’re really excited to show off this beautiful gathering place that the Plexpod team has created,” said Conaway, founder and…
H&R Block’s $2M investment in KCRise Fund: Corporate engagement can’t stop with one check, CEO says
Entrepreneurial energy surrounding such startups as Bungii and PayIt made a $2 million investment in the KCRise Fund an easy choice for Jeff Jones and his team at H&R Block, the high-profile CEO said. “When we think about the different pillars of how we want to give back to the community, taking a stake in…