High-growth entrepreneurs in Kansas City have a lot going for them—Google Fiber, the Kansas City Startup Village, 1 Million Cups and access to an array of programs and resources from the Kauffman Labs for Enterprise Creation. Still, more can be done to boost the region’s already dynamic startup scene and help young companies thrive.
A new study, "Leveraging Regional Assets: Insights from High-Growth Companies in Kansas City," says that more mentoring between experienced and startup entrepreneurs could add fuel to the region's business engine. The study's conclusion is based on interviews with 22 Inc. 500|5000 information technology, biotechnology and business services firms in the Kansas City area. Founders were asked about their views on the strengths and viability of Kansas City's entrepreneurial ecosystem.
Most of the founders reported that locally based mentors had played a significant role in their success.
"While the study shows that Kansas City's entrepreneurial community is somewhat fragmented, it also reveals that, overall, startup leaders benefit from an inherent culture that is supportive and friendly," said Yasuyuki Motoyama, Kauffman Foundation senior scholar and author of the report. "The small-town environment often contributes to higher-quality professional leads and the quick establishment of trusted business relationships. Entrepreneurship leaders therefore need to take more intentional, formalized steps to connect experienced and new entrepreneurs."
Other findings include:
This Week in Entrepreneurship Policy
Starting Up the Startup Act