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
Beach-loving couple hopes to dissolve fear of sharks with Shark OFF repellent bracelets
Saving limbs, lives, and long-villainized, cartilaginous creatures of the sea — it’s the mission behind a first-of-its-kind Overland Park startup, Shark OFF, said Shea and Geoff Geist. “You’re more likely to get killed by a cow. You’re more likely to die falling out of bed,” said Geoff Geist, half of the husband-wife duo who founded…
LA transplant encourages online shoppers to Continue Good after the sale
Online apparel store Continue Good inspires each customer to complete a small act of kindness, said Mollie Beck, noting the organization’s donations to KC-based anti-trafficking nonprofit Exodus Cry turn the small deeds into a more tangible impact. “I love inspiring people to continue to do good to others, but I wanted to just do more…
Fund Me, KC: Clean Slate hopes to give homeless fresh start with mobile shower unit
Startland News is continuing its segment to highlight area entrepreneurs’ efforts to accelerate their businesses. This is an opportunity for entrepreneurs — like those behind Clean Slate Mobile Shower Unit — to share their crowdfunding stories to gain additional support. Who are you and what is your organization? My name is Kelsha James I am…
WiGo trips isolated travel in its tracks, connecting like-minded journeys through years-in-the-works app
WiGo Trips takes the isolation out of globetrotting, said Jaqui McCarthy, connecting people on a “LinkedIn for travellers” social networking app set to launch Saturday. Soon to be available on iOS and Android, WiGo is expected to feature a marketplace through which users can display and discuss travel plans, CEO and co-founder McCarthy said. Selected…