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
$50K inclusion grant to KCMO a step toward ‘most entrepreneurial city’ for everyone
Kansas City, Missouri, pocketed a major win for the entrepreneurial community Wednesday, becoming one of 10 cities in the nation to be selected for the City Accelerator initiative for inclusive contract procurement. The city will receive a $50,000 grant by the Citi Foundations and Living Cities to increase the opportunities for firms owned by people…
Startup, investor, corporate worlds collide; Ron LeMay’s message for KC: Sit down and talk
Ron LeMay wasn’t willing to watch entrepreneurs flee Kansas City to build their game-changing companies on the coasts, he recalled. “That’s a prescription for disaster over time,” LeMay, CEO of Main Street Data and managing director of Open Air Equity Partners, said of the way he viewed entrepreneurial progress in the City of Fountains as…
Nuts and bolts: Lenexa-forged Enduralock tech catches the eye of NASA, Shell
A Lenexa-based startup is gathering accolades faster than a SpaceX rocket’s methane-fueled full flow staged combustion cycle. “Investors definitely see something unique that is brewing here in Kansas City, so we are excited to represent the area,” said Diana Greenberg, COO and co-founder of Enduralock. Founded in 2014, Enduralock is one of 10 finalist tech…
LEANLAB earns another top-tier funder with $76K+ grant from Bill & Melinda Gates Foundation
A hefty new grant from the Bill & Melinda Gates Foundation will allow LEANLAB Education to expand its incoming 2019 K12 Fellowship from six to 10 innovation teams, Katie Boody said. The $76,500 in funding also allows the education accelerator to grow beyond pilot sites to form the Visionary School Network and award honorariums to…