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
Merit-based economy is an illusion ripe for AI disruption, talent coop founder says
Organizing Midwest talent to use artificial intelligence and machine learning to combat societal challenges like income inequality could be a powerful tool for a new generation of problem solvers, said Brian Curry. “I truly believe in the possibility of artificial intelligence for changing the way we look at jobs, income, capitalism, poverty, wealth disparity, disease…
Video: Check out 8 elevator pitches from this year’s Sprint Accelerator companies
With a cohort of companies ranging from artificial intelligence to organic ice cream sandwiches, Sprint Accelerator demonstrates its strength by creating an environment where founders and their teams can learn and develop alongside disparate forms of innovation, Doug Dresslaer said. “They’ve all started realizing they can work together — they’re all on the same side,”…
KCultivator: Kemet Coleman urges KC to think progressively, says music kept him alive
Editor’s note: KCultivators is a lighthearted profile series to highlight people who are meaningfully enriching Kansas City’s entrepreneurial ecosystem. The KCultivator Series is sponsored by WeWork Corrigan Station, a modern twist on Kansas City office space. From the Royals to slow jams with Mayor Sly James, Kansas City serves as an inspirational force in Kemet…
Former Walmart exec, VC founder who was second attorney for Google joining Kauffman trustees
Editor’s note: Startland News, in its capacity as a nonprofit digital magazine, is financially supported by the Ewing Marion Kauffman Foundation. Two high-powered women are expected to bring diverse business, investment and education backgrounds to the table of one of Kansas City’s leading entrepreneurship engines. Susan Chambers, a five-time “50 Most Powerful Women in Business”…