Salt Lake City: a hub for startups.

Report: Salt Lake City a Startup Hub

Dane Stangler of the Ewing Marion Kauffman Foundation released a report called “Path-Dependent Startup Hubs” in September 2013 recognizing the history of start-up hubs like our very own Salt Lake City.

Stangler reports on the top large metropolitan startup areas, claiming that these so-called hubs are not new. These cities have been the same hubs since 1990 with minimal changes. Although these cities have some correlation to having a university, she recognizes that the university presence does not have a 100 percent correlation to innovation.

Stangler says, “The most fertile source of entrepreneurial spawning is the population of existing companies, which has implications for economic policymaking and economic development strategies.”

The Salt Lake City area was ranked No. 7 in the highest startup density area ranking, a large improvement from No. 14 in 1990.  She goes on to say that there is not one stereotype of entrepreneur.  While research has shown that the peak age is between 35 to 45, entrepreneurs can come from established companies or universities.

She says that no city can transform to a hub overnight. Since 2001, the Lassonde Entrepreneur Institute has created various programs that foster and build the Utah entrepreneur community. The Lassonde Entrepreneur Institute plans to continue helping the startup community in Utah.

Read full report here

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