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
Natural fit: Ruby Jean’s opening new juicery inside busy Whole Foods
The fresh-pressed, multi-year deal to open a brick-and-mortar Ruby Jean’s Juicery inside a high-traffic Whole Foods location puts Chris Goode in a position to scale his clean concept even further beyond Kansas City, he said. “We’re in the healthy food space and Whole Foods has cornered that market pretty broadly. With its parent company now…
Major Kansas City grocery chains stock SERV Nutrition less than a year into business
Doing good is more than just a motto for SERV Nutrition — it’s the state of the startup’s operation seven months into business, Isaac Collins said as the company’s patented protein pods hit shelves at Price Chopper and Hen House stores across the metro. “Online sales have been going well, but we saw a great…
KCMO turns to entrepreneurs for new ideas on budget support; Advocates to rally at work sessions
Raised voices and a commitment to civic engagement earned entrepreneurs an additional $350,000 in city support for the 2019 budget year and a second attempt is about to begin, explained Rick Usher. “It really goes back to when the resident work sessions started in 2018,” Usher, KCMO assistant city manager for entrepreneurship and small business,…
Biotech firms: Health innovation can’t grow in KC with wet lab space in such short supply
ELIAS Animal Health is advancing a technology that can fundamentally change how cancer is treated in both humans and animals, said CEO Tammie Wahaus, yet finding lab space in the metro has been one of the biotech startup’s biggest tests. “We’re doing a lot of cell culture work, which requires wet lab space, but there…