No MO: Kansas City, St. Louis drop off Inc list of ‘50 Best Cities for Starting a Business’
January 6, 2020 | Startland News Staff
Shots fired. A new ranking by Inc. magazine claims startup powerhouse Austin, Texas, is “leading the nation in job creation and high-growth company density — and delish BBQ.”
Kansas City? Not even on the list.
Inc.’s Surge Cities index — detailing what founders can learn from the 50 Best U.S. Cities for Starting a Business in 2020 — totally omitted KC from its latest ranking after putting the City of Fountains at No. 40 in 2019.
St. Louis (ranked No. 33 in 2019) also dropped from the index.
Austin, Texas
The report considered such elements as job creation, population growth, net business creation, rate of entrepreneurship, wage growth, high-growth company density, and early-stage fundraising deals — all areas where Austin excelled, editors said. (The Texas capital city also ranked No. 1 in 2019.)
“Austin is one of the few markets that is able to support a full range of kinds of startups — like Silicon Valley or New York,” said Joshua Baer, the founder of Capital Factory, the city’s dominant startup incubator, in the Inc. report. “It’s because we have a diverse set of strengths in our background.”
In contrast, Kansas City’s business ecosystem is dominated by the health care industry, which accounts four of its top five private sector employers, according to Inc.
Other peer cities on the list: Boise (No. 5); Nashville (No. 11); Oklahoma City (No. 39); Minneapolis (No. 40); Columbus (No. 44); Tulsa (No. 47); Des Moines (No. 48); and Indianapolis (No. 50).
Click here for the full list of Inc.’s 50 Best U.S. Cities for Starting a Business in 2020.
2020 Startups to Watch
stats here
Related Posts on Startland News
Greitens eyes private investment dollars to fill MTC budget gap
A new, privately-managed innovation fund could replace a popular startup investment program that was dramatically slashed for 2018 amid Missouri’s budget crunch. The potential strategy change comes as a suggestion from the Hawthorn Foundation’s report to Missouri Gov. Eric Greitens, following the months-long work of an innovation task force charged with assessing the current state…
Prospect to prosperity: Blue Hills boosting neighborhood entrepreneurs (Video)
Economic development along Prospect Avenue requires a chain reaction across the community, Edgar Palacios said. “People need jobs to afford homes, so we need to create those jobs. We need to create some catalysts in this community,” said Palacios, Blue Hills Community Services executive director. “If we can have storefronts along Prospect, that attracts other…
10 BetaBlox firms to know before demo day
Kansas City-based accelerator BetaBlox announced the 10 companies pitching their companies during the program’s Sept. 23 demo day at The GRID. BetaBlox recently received a grant from the Ewing Marion Kauffman Foundation, as part of the KC Accelerator challenge. The 2017 demo day is sponsored by the foundation, BetaBlox founder Wes Bergmann said. This year’s…
Events Preview: IPP demo day, Techweek, LaunchKC
There are a plethora of entrepreneurial events hosted in Kansas City on a weekly basis. Whether you’re an entrepreneur, investor, supporter, or curious community member — we recommend these upcoming events for you. Are you hosting a relevant community event? Add it to the KCSourceLink Calendar for increased exposure. Email info@kcsourcelink.com for assistance. Second…