© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. “Every individual that we can inspire, that we can guide, that we can help to start.

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Presentation transcript:

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. “Every individual that we can inspire, that we can guide, that we can help to start a new company, is vital to the future of our economic welfare.” — Ewing Kauffman Entrepreneurship and Growth in Missouri Governor’s Economic Development Conference September 7, 2012

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. Overview How Missouri Stacks Up Young Firms High Growth Environment What Can We Do?

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. Entry Rate of New Firms Region includes Missouri, Kansas, Oklahoma, Tennesee, Iowa, Nebraska, Kentucky, and Illinois SEC includes Kentucky, Tennessee, Georgia, Florida, Mississippi, Louisiana, Arkansas, and Alabama

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. Share of Total Employment in Young Firms

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. Inc. 500 Companies in Missouri Since 1990

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. Missouri Inc. 500 Stats Sector, IT: 33% National Average: 19% Geography, St. Louis: 36 (two-thirds of state total) Kansas City: 10 (18% of state total) Inc. 500 Firms1980s1990s2000s Number Score* *Population Adjusted

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. State Comparison: 2012 Inc. 5,000 StateScore* Illinois18.75 Nebraska15.56 Kansas14.48 Tennessee13.75 Iowa12.67 Kentucky10.93 Oklahoma10.00 Missouri9.66 Arkansas3.79 StateNumber Illinois240 Tennessee88 Missouri57 Kentucky47 Kansas42 Iowa38 Oklahoma38 Nebraska28 Arkansas11 *Population Adjusted

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. “New” State Comparison: 2012 Inc. 5,000 SEC StateNumber Florida296 Georgia210 Tennessee88 Missouri57 Kentucky47 Alabama43 South Carolina41 Louisiana31 Arkansas11 Mississippi8 StateScore* Georgia21.65 Florida15.74 Tennessee13.75 Kentucky10.93 Missouri9.66 Alabama8.95 South Carolina8.90 Louisiana6.89 Arkansas3.79 Mississippi2.76 *Population Adjusted

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. Thumbtack Small Business Survey Overall Rankings A+Texas, Oklahoma, Idaho, Utah FRhode Island, California, Vermont Missouri Overall Grade: B- Other Notables Kansas: A- Iowa: C+ Illinois: D+

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. Missouri Grades in Thumbtack Small Business Survey Ease of Starting a Business B Hiring Costs C+ Regulations C+ Health & SafetyC- Employment, Labor, HiringC+ Tax codeB- LicensingC+ EnvironmentalC- ZoningC- Training Programs C- Networking Programs C-

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. So What Do We Do?

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. What Not to Do Venture funds Public or private Incubators Distinction (?) — Accelerators Science Parks Enterprise Zones Business schools Distort the playing field for young companies Tax incentives for big companies

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. So What Can Missouri Do? Part One Programs Startup Weekend Startup Digest Tech Shop Ice House ITEN Education—Human Capital Community Colleges Apprenticeships K-12 Education: New Models Lessons:  Experiential  Networks

© 2010 by the Ewing Marion Kauffman Foundation. All rights reserved. So What Can Missouri Do? Part Two Policy Health insurance Professional and Occupational Licensing Non-compete agreements Technology Commercialization from Universities: free agency Simplify and Streamline—taxes, regulations, compliance Statistics—Counting MERIC