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
TechAccel, UC Davis lab developing wheat seed to combat climate change
A Kansas City-based tech and venture development firm hopes to engineer wheat seeds that produce higher yield by withstanding warmer temperatures. “We’re taking a concept that is pretty important for wheat worldwide,” said Brad Fabbri, Chief Science Officer of TechAccel. Increasing temperatures make growing wheat more difficult across the globe, studies show. Reports indicate climate…
Startup stakeholders: Opportunity zones could prompt culture shift on redevelopment
Startup community stakeholders think opportunity zones in some of Kansas City’s poorest areas could work, but only with collaboration between the government and private sector. A number of low-income communities in Kansas City are eligible for designation as opportunity zones — areas in which investors may defer paying capital gains taxes over a certain period…
OP-based motion capture startup DARI Motion sells to Omaha firm
DARI Motion, an Overland Park-based startup that created a motion capture platform that provides biomechanical analysis of athletes, patients and more, recently was acquired by a Nebraska firm. DARI, which stands for Dynamic Athletic Research Institute, was purchased for an undisclosed amount by Omaha-based Scientific Analytics Inc. With the acquisition, the firm aims to transform how…
Axing the status quo: Swell Spark builds experiences from West Bottoms HQ
Human interaction is about more than texting and social media posts, said Matt Baysinger, co-founder and CEO of Swell Spark. “One of the best things in life is sharing a meal together, but sharing a meal together is only as good as the conversation you get to have over that meal,” Baysinger said. “If you…