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
Reports: St. Louis startup scene surging while KC struggles to keep pace with past wins
Founders hoping to launch a new startup or move into a fresh market might have better success in St. Louis, rather than Kansas City, according to Inc. magazine’s Surge Cities Index. Inc. placed St. Louis at No. 33 on its 50 Best Places in America for Starting a Business list. Kansas City was positioned at…
Documentary spotlighting CAPS students set for sold-out premiere (Watch the trailer)
There’s no syllabus for life, laments a teenage student in a soon-to-be released documentary detailing the impact of experiential learning on the new generation of youth about to enter the workforce. The documentary — “Where Students Lead” — heavily showcases student voice and the Center for Advanced Professional Studies, said Corey Mohn, executive director of…
Serial builder uses sensor tech to ‘see’ inside problem-prone properties with Particle Space
Passion for building breathes life into a successful startup and the collective ecosystem, said David Biga. “[Builders] are a critical piece to our startup community,” said Biga, founder of Kansas City-based SaaS firm Particle Space. “If you don’t have people who care to build and offer things to those before you — then why come…
Duo designs Paloma Post greeting cards for more inclusive representation of couples
As she stood flipping through an endless sea of birthday cards, Julie Korona couldn’t find a single one that would send the right message to her then-fiancé, Tyler, she recalled. “All of the cards that I was looking through either said ‘husband’ or were super generic,” said Korona, co-founder of Paloma Post — a newly…