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
KC designers: Send us your anti-gun violence messages, we’ll make the protest signs
Young people marching Saturday as part of nationwide anti-gun violence demonstrations deserve for their messages to be seen and heard, said Spencer Branham. Solid, impactful design will help, he added. Members of AIGA KC, a professional organization for Kansas City graphic designers, are now accepting submissions ahead of Saturday’s March For Our Lives events, said…
KC Shave Company cuts its own niche with blades of disruption
A well-groomed man needn’t choose merely between cheap, breakable, throwaway razor blades and high-end, pricey shaving kits, said Mike Knopke, co-founder of KC Shave Company. On their way to building “a shaving empire,” Knopke and co-founder Joe Henderson hope to fill the gap amid a landscape of disposable and over-priced options, they said. A current…
Fund Me, KC: JUMP GEO uses whole-body movement to teach kids geography
Editor’s note: Startland News is continuing its ‘Fund Me, KC’ feature to highlight area entrepreneurial efforts to accelerate businesses or projects. If you or your startup is running a crowdfunding campaign, let us know by contacting news@startlandnews.com. Today’s featured campaign from Kansas City-based JUMP GEO spotlights a product to teach young people (and adults) about…
Immigrant entrepreneurs need path to US now, GOP senator behind Startup Act says
Editor’s note: The following story on Jerry Moran’s Startup Act is part of a three-part series on the potential for immigrant or foreign-born entrepreneurs to help reshape Kansas City’s startup ecosystem. Read a warning from a leading Kansas City tech CEO about coming challenges within the local talent pipeline here. Check out a feature on…