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
Video: Sprint Accelerator firms deliver elevator pitches
Startland News, along with the Kansas City community, was able to mix and mingle with the current cohort of startups at the Kansas City-based Sprint Accelerator. In a Wednesday night event at the accelerator — located in the Crossroads Arts District — ten startup founders also quickly pitched their tech firms’ missions. The accelerator program, led…
Inaugural smart city summit eyes the future of public safety
How can technology improve the safety of a city? That subject and more will be discussed during the upcoming Smart City Tech Summit, which will host dozens of government officials and public safety professionals from around the U.S. The summit — set to take place March 29 through March 31 — will focus on the…
Kansas’ angel tax credits sprint to legal finish line
The Kansas House of Representatives nearly unanimously agreed that the state’s Angel Investor Tax Credits program must continue to boost early-stage businesses. The House voted 122 to 3 in favor of a measure that will extend the life of the $6 million program until 2021. Angel investor tax credits, which are set to expire in 2016,…
Shawnee native sells another startup for over $1B with GM deal
General Motors is hoping to become the leader of self-driving car technology with the gargantuan acquisition of Cruise Automation, whose founder has a local tie. GM announced on March 11 that it purchased Cruise for more than $1 billion in a move that aims to accelerate the development of GM’s autonomous vehicle tech. Cruise…