Dane Stangler | Upstate Unleashed Presentation

The Future of the “First Silicon Valley”

September 16, 2016Upstate Unleashed Conference

Dane Stangler@danestangler

@KauffmanFDN

Where Jobs Come From

Young companies

High-growth companies

Larger, older companies

Business Creation Trends Nationally

100000

200000

300000

400000

500000

600000

Firm Deaths

Firm Births

Source: US Census Bureau, Business Dynamics Statistics

Growth Entrepreneurship Rebounding

Entrepreneurial Ecosystems

Focus on Upstate

Startup Density

1992 1995 1998 2001 2004 2007 2010 2013Year

Startup Density

MSANationalAlbanyBuffaloIthaca

1992 1995 1998 2001 2004 2007 2010 2013Year

Startup Density

MSANationalRochesterSyracuseUtica

Job Creation by Firm Age

19992001 2003 2005 2007 2009 2011 2013Year

Net Job Creation

Firm Age0-1 Years2-3 Years4-5 Years6 to 10 Years11+ Years

Buffalo

1999 2001 2003 2005 2007 2009 2011 2013Year

Net Job Creation

Rochester

1999 2001 2003 2005 2007 2009 2011 2013Year

10K Firm Age0-1 Years2-3 Years4-5 Years6 to 10 Years11+ Years

Syracuse

1999 2001 2003 2005 2007 2009 2011 2013Year

10KNet Job Creation

Albany

Startup Density in NY: Metro v. Rural

Startup_Density_Total Startup_Density_Metro

Startup_Density_Rural_Non_Metro

Learning from:Silicon Valley

BoulderSt. Louis

Silicon Valley

Military R&D Shockley and Terman Spinoffs Non-compete agreements

Boulder

Federal research facilities IBM StorageTek Mountains

St. Louis

• Washington University

• Beer!

What Universities Do Best

Experience

Exposure

Peer learning

Teach something about something

Connectivity

Immigrants More Entrepreneurship

Immigrants

Immigrants Upstate

MSA % Foreign-Born U.S. EquivalentAlbany 6.7 1985

Rochester 6.7 1985

Utica-Rome 6.5 1984

Buffalo 6 1980

Ithaca 12.6 2015

Binghamton 5.35 1975

Elmira 2.8 n/a

Glens Falls 2.8 n/a

United States = 13% foreign-born

Don’t Forget the “Scruffy” and “Grungy” Entrepreneurs

But not …• “Junk” entrepreneurs

“I strongly believe that the successes and failures of the smaller company universe create a dynamism which differentiates the American model from everyone else. Small HVAC repair shops or sheet metal fabrication shops don’t appear to be very sexy, but they represent a meaningful slice of the opportunities provided … The ‘innovations’ which are created in this smaller environment are almost certainly less earth-shattering than ones coming out of larger organizations, but the sum of all the small ideas and the constant testing and adjusting that takes place is certainly very valuable. ”

—Read Boles

Blueprint v. Recipe

Thank You

Kauffman Policy Digests:• http://www.kauffman.org/what-we-

do/resources/entrepreneurship-policy-digest

Dstangler@kauffman.org

@danestangler

@KauffmanFDN

Measure Your Ecosystem, not a Monoculture

Density

Fluidity

Connectivity

Diversity

Velocity

Survival

Funding

Headlines

Dane Stangler | Upstate Unleashed Presentation

Small Business & Entrepreneurship

Transcript of Dane Stangler | Upstate Unleashed Presentation

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