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<p>PowerPoint Presentation</p> <div><p>www.kauffman.org</p><p> 2013 Ewing Marion Kauffman Foundation</p><p>Measuring Entrepreneurial Ecosystems</p><p>March 16, 2015</p><p>Jordan Bell-Masterson</p><p>Colin Tomkins-Bergh</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Indicators of Entrepreneurial Ecosystem Vibrancy</p><p>Kauffman synthesis of leading research to answer the question: </p><p>What do we measure and how do we measure it?</p><p>Why? To gauge progress, inform program design, and to guide resource and funding decisions</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Four Categories; Twelve Indicators</p><p>Connectivity</p><p>Program connectivity</p><p>Spinoff rate</p><p>Dealmaker network</p><p>Diversity</p><p>Diversity of economic specializations</p><p>Economic mobility</p><p>Immigrant share</p><p>Density</p><p>Entrepreneurial Density</p><p>Young firm employment share</p><p>High-tech firm density</p><p>Fluidity</p><p>Population flux</p><p>Labor market reallocation</p><p>High-growth firms</p><p>Stangler and Bell-Masterson: Measuring an Entrepreneurial Ecosystem</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Density</p><p>We want to measure density, not volume</p><p>By e.g., population, geography</p><p>For example, Boulder is small, but clearly punching above its weight</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Density: New and young firms</p><p>Source: BDS for Firm Data, and BEA for Population Data</p><p>http://www.census.gov/ces/dataproducts/bds/data_firm.html and http://www.bea.gov/regional/downloadzip.cfm </p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <p>Firms Age 0 per 100,000 people</p><p>United States197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012257.06029999999993226.92250000000001221.67169999999999198.6918197.73230000000001193.7876185.47550000000001213.32820000000001213.98830000000001217.44380000000001224.58760000000001200.1431191.9794192.5745185.97130000000001180.9288182.91380000000001188.99250000000001192.68629999999999191.1574190.74629999999999186.7081178.0224170.77330000000001165.34989999999999175.0111174.70359999999999179.8021185.82640000000001188.25700000000001175.6242161.4323133.3673125.4543128.76429999999999130.62610000000001Kansas City Metro Area197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012253.92417494962501235.7691448369979226.55039794882751193.5249152540122194.68689346399779187.16588120308489188.85202371440911219.25141672892201214.31294696669201219.41638287841559240.46809620976481203.3238655178198204.10813791948809197.3855404579418197.20607643107039190.30500718790799198.00416515904561207.08334522296099220.23052986808079204.17291192226409205.8187458478244198.735200333964200.8963744765521195.51790266757399175.88780119309479189.11929749320061194.32198832489499201.03023432146699202.95045621215999189.6826532071847169.1053724913175154.72019098492359128.96495478803431119.3315082247551123.8119248584989137.31972245431751Kansas197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012301.7038269.97430000000003241.71729999999999216.54349999999999217.16220000000001213.89240000000001209.97470000000001252.05359999999999227.6097217.626216.61369999999999188.7088183.5138182.76349999999999185.41480000000001186.02950000000001188.18350000000001197.5189198.00020000000001197.47149999999999197.28360000000001190.63380000000001180.18639999999999176.1901167.27350000000001183.7824179.72800000000001178.7979182.12950000000001177.52889999999999165.06299999999999153.3434127.3342116.23309999999999116.3946118.5625Missouri197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012255.02359999999999228.364211.23560000000001189.17240000000001180.3503173.5891178.75149999999999201.27529999999999204.5694210.48939999999999223.99979999999999191.80449999999999195.0609190.91890000000001186.02539999999999186.55950000000001193.92259999999999205.76589999999999203.83959999999999193.84880000000001188.99170000000001184.8322177.20410000000001171.65170000000001154.89769999999999183.91759999999999188.11070000000001204.01060000000001205.6198185.94130000000001169.33860000000001152.78739999999999129.35560000000001130.41890000000001128.51769999999999128.90649999999999</p> <div><p>Density: Employment Share of Young Firms</p><p>Source: U.S. Census Business Dynamics Statistics</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <p>United States20002001200220032004200520062007200820092010201120120.1561784416898950.1533847769776070.150744515388043010.151270445523259990.146542201574802990.143551233070260990.144185058762739990.1408152874014450.133804877272060.125130311202002990.120423415249867990.114270417725680.11214628689307Column12000200120022003200420052006200720082009201020112012Austin Metro Area20002001200220032004200520062007200820092010201120120.185836300000000010.181826900000000010.175077199999999990.171940299999999990.171773199999999990.164723199999999990.17013190.16736360.167739300000000010.154331400000000010.148994999999999990.15144040.14947659999999999Denver Metro Area20002001200220032004200520062007200820092010201120120.17383910.16834510.168776299999999990.173043200000000010.16444290.155459999999999990.152888799999999990.148706300000000010.14463920.138198199999999990.13332890.13021810.1232814San Francisco Metro Area20002001200220032004200520062007200820092010201120120.181400499999999990.19084260.169030299999999990.16496290.150506499999999990.139778299999999990.13667540.13509730.12911770.12615250.11975120.1177990.11907619999999999St. Louis Metro Area20002001200220032004200520062007200820092010201120120.128853699999999990.136424099999999990.136439100000000010.1396830.121222300000000010.115026600000000010.111992499999999990.11915620.11167960.10703980.10212149.6383200000000002E-28.7243399999999999E-2Boston Metro Area20002001200220032004200520062007200820092010201120120.137710300000000010.132643000000000010.12377690.12225210.11407620.11080680.10787940.11032830.10357219.2267799999999997E-28.7819999999999995E-28.4082100000000007E-28.4698499999999996E-2Kansas City Metro Area20002001200220032004200520062007200820092010201120120.181400499999999990.19084260.169030299999999990.16496290.150506499999999990.139778299999999990.13667540.13509730.12911770.12615250.11975120.1177990.11907619999999999</p> <div><p>Density: High-Tech</p><p>Kansas City has a high-tech firm creation rate of 11.188, which ranks 36 out of 365 metros.1</p><p>High-tech = IT, biotech, and advanced manufacturing (per Hecker (2005), Bureau of Labor Statistics)</p><p>Source: Kauffman Foundation</p><p>http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/01/beyond_metropolitan_startup_rates.pdf </p><p>1 Using NETS high-tech over 2009-2010;</p><p>Averaged over 2 years, then per 100,000 population</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Density: High-Tech</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Fluidity</p><p>Reallocation the process by which a resource becomes more and more efficiently deployed</p><p>E.g. Economic reallocation, demographic reallocation</p><p>Perfect information only found in theory, so churn typically represents improvement</p><p>See Haltiwanger et al. (2012) for importance of labor market reallocation</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Fluidity: Population Flux</p><p>Source: IRS, SOI Tax Stats - Migration Data Downloads - County to County Migration Data</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <p># of Households</p> <p>inflowoutflownet3572136793-1072# of People</p> <p>inflowoutflownet6937471533-2159</p> <div><p>Fluidity: Labor Market Reallocation</p><p>Labor Market Reallocation = Separations minus Job Destruction as a share of Employment</p><p>Source: QWI</p><p>http://qwiexplorer.ces.census.gov/ </p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <p>KC20002001200220032004200520062007200820092010201120120.260375730928859020.232993653527838990.210311298593673010.1884319929105030.193119171602373990.1948669455260740.194418737247700010.19228677207010.1758934201470570.136522899858331990.1364297364328570.140587322881368990.14749951913829601Omaha0.22780.210799999999999990.186599999999999990.172999999999999990.17260.175100000000000010.17790.18020.171000000000000010.133000000000000010.131099999999999990.133899999999999990.14269999999999999Denver0.334799999999999990.288499999999999980.243999999999999990.21470.204499999999999990.21140.214799999999999990.222899999999999990.21270.156599999999999990.161399999999999990.15750.16139999999999999</p> <div><p>Fluidity: High-Growth Firms</p><p>Kansas City has a high-growth firm creation rate of 24.846, which ranks 92nd out of 365 metros.1</p><p>1 Using Inc. high-growth companies over 2010-2012;</p><p>Summed and divided by population in millions.</p><p>Source: Kauffman Foundation</p><p>http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/01/beyond_metropolitan_startup_rates.pdf </p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Connectivity</p><p>Recipe, not just ingredients</p><p>How do entrepreneurs, investors, programs etc. get mixed?</p><p>St. Louis example</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Connectivity:Programs</p><p>Source: Kauffman Foundation</p><p>Think Locally, Act Locally</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Source: Kauffman Foundation</p><p>Think Locally, Act Locally</p><p>Connectivity:Programs</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Connectivity: Spinoff Rate</p><p>Source: Heike Mayer</p><p>http://www.kauffman.org/newsroom/2013/06/new-map-tracks-evolution-of-entrepreneurship-in-kansas-city </p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Connectivity:Dealmaker Networks</p>BostonSiliconValleyMinneapolisDenverRTPAustinChicagoPhoenixKansas CityOmahaInvestors60178543208830921294147339161562394371Operators/ Entrepreneurs312925415411877150036114671423003859319762134Dealmakers170344393784781362025621904330Total Dealmakers / Total Actors4.56%7.08%2.71%2.64%1.84%2.47%2.09%1.87%1.81%1.20%Total Dealmakers /Total Companies 000s136.9226.356.668.450.368.639.933.125.121.8<p>Dealmaker = Actor with 3 or more equity positions in private companies</p><p>Source: Ted Zoller, UNC</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Connectivity: Dealmaker Networks</p><p>Healthcare (59)</p><p>Information Tech (44)</p><p>Telecom (6)</p><p>Source: Ted Zoller, UNC</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Connectivity:Dealmaker Networks</p><p>Central Connected Network</p><p>Standalone Syndicates</p><p>Inter-firm Syndicates</p><p>Disassociated Firms</p><p>Source: Ted Zoller, UNC</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Diversity</p><p>Avoid becoming a monoculture</p><p>E.g. Detroit vs. Seattle</p><p>Both in terms of firm sectors, and types of people founding the firms</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Diversity: Multiple Economic Specializations</p>SectorKCBoulderBostonNAICS 517 Telecommunications2.360.980.87NAICS 518 Data processing, hosting and related services2.152.76NDNAICS 323 Printing and related support activities1.771.080.97NAICS 524 Insurance carriers and related activities1.68ND1.26NAICS 492 Couriers and messengers1.580.52NDSectorKCBoulderBostonNAICS 511 Publishing industries, except Internet0.96.382.6NAICS 334 Computer and electronic product manufacturing0.696.242.5NAICS 518 Data processing, hosting and related services2.152.76NDNAICS 541 Professional and technical servicesND2.431.53NAICS 312 Beverage and tobacco product manufacturing0.622.010.52NAICS 451 Sports, hobby, music instrument, book stores1.11.910.94SectorKCBoulderBostonNAICS 511 Publishing industries, except Internet0.96.382.6NAICS 523 Securities, commodity contracts, investments1.411.392.53NAICS 334 Computer and electronic product manufacturing0.696.242.5NAICS 519 Other information servicesND1.52.23NAICS 316 Leather and allied product manufacturingND0.422.16<p>KC </p><p>Top 5 Sectors</p><p>Boulder </p><p>Top 5 Sectors</p><p>Boston </p><p>Top 5 Sectors</p><p>Source: QCEW, http://data.bls.gov/location_quotient/ControllerServlet </p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <div><p>Diversity: Economic SpecializationOmaha</p><p>Location Quotient</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <p>Omaha-Council Bluffs, NE-IA MSANAICS 115 Agriculture and forestry support activitiesNAICS 336 Transportation equipment manufacturingNAICS 481 Air transportationNAICS 321 Wood product manufacturingNAICS 112 Animal production and aquacultureNAICS 331 Primary metal manufacturingNAICS 111 Crop productionNAICS 517 TelecommunicationsNAICS 312 Beverage and tobacco product manufacturingNAICS 221 UtilitiesNAICS 212 Mining, except oil and gasNAICS 814 Private householdsNAICS 314 Textile product millsNAICS 813 Membership associations and organizationsNAICS 339 Miscellaneous manufacturingNAICS 611 Educational servicesNAICS 237 Heavy and civil engineering constructionNAICS 485 Transit and ground passenger transportationNAICS 486 Pipeline transportationNAICS 443 Electronics and appliance storesNAICS 448 Clothing and clothing accessories storesNAICS 325 Chemical manufacturingNAICS 452 General merchandise storesNAICS 531 Real estateNAICS 333 Machinery manufacturingNAICS 713 Amusements, gambling, and recreationNAICS 236 Construction of buildingsNAICS 519 Other information servicesNAICS 337 Furniture and related product manufacturingBase Industry: Total, all industriesNAICS 445 Food and beverage storesNAICS 447 Gasoline stationsNAICS 326 Plastics and rubber products manufacturingNAICS 523 Securities, commodity contracts, investmentsNAICS 511 Publishing industries, except InternetNAICS 561 Administrative and support servicesNAICS 492 Couriers and messengersNAICS 622 HospitalsNAICS 493 Warehousing and storageNAICS 327 Nonmetallic mineral product manufacturingNAICS 623 Nursing and residential care facilitiesNAICS 711 Performing arts and spectator sportsNAICS 238 Specialty trade contractorsNAICS 522 Credit intermediation and related activitiesNAICS 323 Printing and related support activitiesNAICS 442 Furniture and home furnishings storesNAICS 515 Broadcasting, except InternetNAICS 551 Management of companies and enterprisesNAICS 712 Museums, historical sites, zoos, and parksNAICS 524 Insurance carriers and related activitiesNAICS 311 Food manufacturingNAICS 484 Truck transportationNAICS 518 Data processing, hosting and related services0.160.170.230.260.280000000000000030.330.350.390.410.440.470.510.530.610.630.650.710.710.730.750.750.850.870.870.890.890.90.920.981111.011.011.021.031.041.081.171.191.191.251.291.431.61.691.761.92.022.06999999999999982.272.734.9400000000000004</p> <div><p>Location Quotient</p><p>Diversity: Economic SpecializationBoulder</p></div> <p> 2013 Ewing Marion Kauffman Foundation</p> <p>Boulder, CO MSANAICS 213 Support activities for miningNAICS 211 Oil and gas extractionNAICS 493 Warehousing and storageNAICS 336 Transportation equipment manufacturingNAICS 999 UnclassifiedNAICS 533 Lessors of nonfinancial intangible assetsNAICS 237 Heavy and civil engineering constructionNAICS 484 Truck transportationNAICS 488 Support activities for transportationNAICS 712 Museums, historical sites, zoos, and parksNAICS 221 UtilitiesNAICS 326 Plastics and rubber products manufacturingNAICS 111 Crop productionNAICS 112 Animal production and aquacultureNAICS 337 Furniture and related product manufacturingNAICS 447 Gasoline stationsNAICS 316 Leathe...</p>