In 2012, KC set out to become America’s most entrepreneurial city. We here at KCSourceLink took that goal seriously.
So how are we doing so far?
In We Create KC: Year 2, KCSourceLink analyzes Kansas City progress toward that goal, working with our Resource Network to measure the metrics that matter to KC entrepreneurship and fill gaps in services.
Here are a few key lessons and metrics illustrated in the report.
Entrepreneurship is happening everywhere—and it’s getting stronger.
Entrepreneurial density maps use FEIN data to show those companies that have hired their first employee. From 2013 to Q3 of 2014, you can see that diverse groups of people are starting business all over the metro region.
Access to Capital
KC is improving access to capital for entrepreneurs.
Since 2012, the KC Regional Microloan Program has awarded $3 million via 262 loans, with a default rate of less than 3 percent. With new resources for early-stage companies, KC has more than tripled the number of equity investments in early-stage firms.
KC Company Watch List
KC entrepreneurs are getting traction.
A full slate of 25 companies are featured on our KC Company Watch List—selected because they were were funded for preseed through Series B in 2013 and raised at least one other round of funding in 2014.
KC is gobbling up tech talent.
With 60,079 STEM jobs in in 2015, KC is outpacing the national average by 7 percent. With 4,394 average monthly job postings, but only 2,365 average monthly hires, we certainly have the demand for STEM jobs, now we need to figure out how to support that hunger.
Kansas City entrepreneurs are connected.
KC’s entrepreneurial organizations truly work together. You certainly see that in the lines of the Entrepreneurial Connectivity map: entrepreneurs freely move back and forth between organizations. That’s alignment between entrepreneurial support organizations, government and large corporations is something that’s unique about Kansas City. Everyone is all in for entrepreneurship.
Check out the infographics—and the inspirational stories—for yourself by downloading the report at www.wecreatekc.com.