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
And the readers going to the Royals playoffs are …
Four lucky Startland News readers are heading to see the Kansas City Royals take on the Houston Astros this Thursday and Friday. From more than 300 contestants, a random number generator selected Tom Bliss and Marybeth Oliver as the winners, each of whom will bring one friend. Bliss, who serves as executive director of the…
90 on the Clock with Cremalab
90 on the Clock with Cremalab By John McGrath, KCPT, and Bobby Burch, Startland News Ed’s Note: Flatland and Startland News have partnered to highlight Kansas City’s innovators and entrepreneurs, all in 90 seconds. This is the third episode in the five-part series. With a team of sharp, trendily-dressed bohemians, Cremalab is where speed meets creative dynamism. The…
3 local startups advance in national pitch bout
Three startups from Kansas are among the semifinalists in a competition to snag $10,000 from the Ewing Marion Kauffman Foundation. The Kauffman Foundation’s One in a Million contest announced Wednesday 15 semifinalists from 12 states. Semifinalists will travel to Kansas City during Global Entrepreneurship Week for a chance to become one of five finalists for…
KC’s ‘growth and excitement’ attracts Phoenix tech firm
Give yourselves a pat on the back, Kansas City techies. The Kansas City tech community has once again enticed an out-of-state firm to expand to the City of Fountains. Phoenix-based cloud computing company Inspire Data Solutions recently opened a downtown Kansas City office in hopes of tapping into the area’s burgeoning tech community. A former Kansas…