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
Against the grain: Coworking leader bringing alcohol-free ‘Sans Bar’ pop-up concept to KC
Entrepreneur events should focus less on alcohol, and more on connections, said Melissa Saubers. “Part of my goal is to help educate and bring awareness to people who are hosting events — and also have alcohol in the workplace — to help them be more sensitive and inclusive for people who don’t drink,” said Saubers,…
On the agenda: What are GEW’s 10 most popular events so far? Practical workshops
With more than 170 events planned, organizers of Global Entrepreneurship Week already are seeing registration trends from those building their weeklong agendas at GEWKC.org Topping the most popular are GEW’s kickoff breakfast — set to explore the future in terms of emerging Latino markets, transportation and the Hyperloop, and sports technology — and Marquita Miller’s…
BlackTech Week curating GEW conversation between founders with ‘true experiences’
Bringing BlackTech Week to Kansas City for a day — and debuting the event series during Global Entrepreneurship Week — seemed like a natural fit, said Denayja Reese. The Miami-based festival draws together black entrepreneur leaders who already are championing the startup hustle of their communities, she said. Powered by Code Fever, which was founded…
Saudi Arabian investment pushing KC’s WISE Power into Nigeria, Japan, Middle East markets
The multimillion-dollar investment from a Saudi Arabian accelerator and capital firm is pushing WISE Power from the West Bottoms to global growth, said Kevin Williams. “The injection will allow us to expand quickly to get this technology out to the world, which was what our original intent was with WISE Power,” said Williams, founder of…