Startup Frenzy

Tech starts ARE BOOMING IN ST. LOUIS! Ask Joe.

“Clearly, innovation and entrepreneurship are key to the St. Louis region’s future success and economic growth. After laying the groundwork for years by building business incubators and lab space, connecting mentors, investors and entrepreneurs, leveraging our research capacity and encouraging new enterprises, the St. Louis startup community is vibrant and thriving,” said St. Louis Regional Chamber President and CEO Joe Reagan. “St. Louis regional startups raised over $380 million in 2013, more than six times their combined raise in 2012. The number of St. Louis-based investment rounds greater than $1 million in 2013 was double the previous five-year running average.

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National media has taken note, with stories over the last year discussing St. Louis’ renaissance as a tech startup hotbed. With the technology sector acting as the rockstar of the U.S. economy, it’s no surprise that communities throughout the country are trying to recreate the magic of Silicon Valley. While the tech startup formula has proven elusive for some, St. Louis has experienced great success in redefining itself as the place to start your technology firm.

In this Forbes article by St. Louis’ own Aaron Perlut, this fact is made clear:

After placing 49th of 50 just two years ago, the Kaufman Foundation ranked Missouri the sixth best state for entrepreneurial activity (with St. Louis responsible for about 70 percent of the activity) and Kiplinger placed St. Louis in the top ten among U.S. cities for start-ups.

Redefining indeed. This trend doesn’t seem to be slowing.

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Continues Reagan, “Combine that 2013 activity with the strength of the classes we’ve seen in Arch Grants and SixThirty, the new facilities for T-REX and its 80 tenants, new innovation centers Cambridge Innovation Center and TechShop at Cortex, and you begin to sense the strength of an incredible ecosystem coming into place.”