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www.kauffman.org

2013 Ewing Marion Kauffman Foundation

Measuring Entrepreneurial Ecosystems

March 16, 2015

Jordan Bell-Masterson

Colin Tomkins-Bergh

2013 Ewing Marion Kauffman Foundation

Indicators of Entrepreneurial Ecosystem Vibrancy

Kauffman synthesis of leading research to answer the question:

What do we measure and how do we measure it?

Why? To gauge progress, inform program design, and to guide resource and funding decisions

2013 Ewing Marion Kauffman Foundation

Four Categories; Twelve Indicators

Connectivity

Program connectivity

Spinoff rate

Dealmaker network

Diversity

Diversity of economic specializations

Economic mobility

Immigrant share

Density

Entrepreneurial Density

Young firm employment share

High-tech firm density

Fluidity

Population flux

Labor market reallocation

High-growth firms

Stangler and Bell-Masterson: Measuring an Entrepreneurial Ecosystem

2013 Ewing Marion Kauffman Foundation

Density

We want to measure density, not volume

By e.g., population, geography

For example, Boulder is small, but clearly punching above its weight

2013 Ewing Marion Kauffman Foundation

Density: New and young firms

Source: BDS for Firm Data, and BEA for Population Data

http://www.census.gov/ces/dataproducts/bds/data_firm.html and http://www.bea.gov/regional/downloadzip.cfm

2013 Ewing Marion Kauffman Foundation

Firms Age 0 per 100,000 people

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

Density: Employment Share of Young Firms

Source: U.S. Census Business Dynamics Statistics

2013 Ewing Marion Kauffman Foundation

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

Density: High-Tech

Kansas City has a high-tech firm creation rate of 11.188, which ranks 36 out of 365 metros.1

High-tech = IT, biotech, and advanced manufacturing (per Hecker (2005), Bureau of Labor Statistics)

Source: Kauffman Foundation

http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/01/beyond_metropolitan_startup_rates.pdf

1 Using NETS high-tech over 2009-2010;

Averaged over 2 years, then per 100,000 population

2013 Ewing Marion Kauffman Foundation

Density: High-Tech

2013 Ewing Marion Kauffman Foundation

Fluidity

Reallocation the process by which a resource becomes more and more efficiently deployed

E.g. Economic reallocation, demographic reallocation

Perfect information only found in theory, so churn typically represents improvement

See Haltiwanger et al. (2012) for importance of labor market reallocation

2013 Ewing Marion Kauffman Foundation

Fluidity: Population Flux

Source: IRS, SOI Tax Stats - Migration Data Downloads - County to County Migration Data

2013 Ewing Marion Kauffman Foundation

# of Households

inflowoutflownet3572136793-1072# of People

inflowoutflownet6937471533-2159

Fluidity: Labor Market Reallocation

Labor Market Reallocation = Separations minus Job Destruction as a share of Employment

Source: QWI

http://qwiexplorer.ces.census.gov/

2013 Ewing Marion Kauffman Foundation

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

Fluidity: High-Growth Firms

Kansas City has a high-growth firm creation rate of 24.846, which ranks 92nd out of 365 metros.1

1 Using Inc. high-growth companies over 2010-2012;

Summed and divided by population in millions.

Source: Kauffman Foundation

http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/01/beyond_metropolitan_startup_rates.pdf

2013 Ewing Marion Kauffman Foundation

Connectivity

Recipe, not just ingredients

How do entrepreneurs, investors, programs etc. get mixed?

St. Louis example

2013 Ewing Marion Kauffman Foundation

Connectivity:Programs

Source: Kauffman Foundation

Think Locally, Act Locally

2013 Ewing Marion Kauffman Foundation

Source: Kauffman Foundation

Think Locally, Act Locally

Connectivity:Programs

2013 Ewing Marion Kauffman Foundation

Connectivity: Spinoff Rate

Source: Heike Mayer

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