Quick Fix: FastCompany’s United States of Innovation

15 Apr

FastCompany just released a fantastic new analytical series ranking innovation across 50 states and the District using factors such as entrepreneurial activity, start-up rates, new firm creation, and funding for new companies. The project also features viewpoints from local entrepreneurs across the country to tell us why Florida is excelling, what West Virginia and Oklahoma are doing to catch-up, and the start-up surprises in Alaska. There are also perspectives on entrepreneurial density in the city and in the prairie.

Here’s how they did it:

“We crunched the numbers, beginning by assessing the Bureau of Labor Statistics’ launch rate of all private-sector businesses, as well as the Kauffman Index of Entrepreneurial Activity’s percentage of people who are starting new businesses and how that percentage changed over time. Then, to see the health of young firms in particular, we tallied the percentage of jobs contributed by those less than three years old and how that percentage changed over the past five years. To analyze the self-described startup community, we incorporated the health and growth rate of Startup America members and a tally of AngelList and Fundable members.”

 The overall rankings for the states (and a District) for innovation:

1 // Florida 2 // Texas 3 // Maryland 4 // Arizona 5 // Alaska 6 // California 7 // Colorado 8 // New York 9 // New Jersey 10 // Washington, D.C. 11 // Nevada 12 // Connecticut 13 // Georgia 14 // Delaware 15 // New Hampshire 16 // Missouri 17 // Rhode Island 18 // Utah 19 // South Carolina 20 // Kentucky 21 // Vermont 22 // South Dakota 23 // Wyoming 24 // North Carolina 25 // Montana 26 // Washington 27 // Idaho 28 // Virginia 29 // Hawaii 30 // Maine 31 // New Mexico 32 // Wisconsin 33 // North Dakota 34 // Oregon 35 // Ohio 36 // Indiana 37 // Arkansas 38 // Illinois 39 // Michigan 40 // Tennessee 41 // Massachusetts 42 // Nebraska 43 // Pennsylvania 44 // Alabama 45 // Iowa 46 // Minnesota 47 // Kansas 48 // Louisiana 49 // Mississippi 50 // Oklahoma 51 // West Virginia

Stay tuned for a longer analysis of FastCompany’s project later in the week.

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