Dallas has been placed among the top 10 cities in the U.S. that are ready to take on the “next-wave” digital economy, according to a recent research report analyzing the health of startup communities in 25 cities across the nation.
The Innovation That Matters report is compiled by startup incubator 1776 along with the U.S. Chamber of Commerce Foundation, Free Enterprise, and C_TEC. Researchers accessed cities on capital, talent, connectivity, specialization, density, and cultural statistics using cross-reference datasets and a survey of 413 startup leaders, according to the report.
“The bottom line is big business is already here, and additional businesses — startup businesses — will begin to look at Dallas as a more realistic option when they perceive Dallas to be what it actually already is, which is innovative.”
Dallas had one of the biggest jumps from the 2016 rankings rising 12 spots to claim No. 7 on this year’s list.
The report attributes the notable climb to the city’s improvement in the connectivity metric. Dallas-Fort Worth is home to more than 20 Fortune 500 companies and many other enterprises that have headquarters in the area. It also landed at No. 8 on Inc‘s list of U.S. cities with the fastest-growing companies.
Innovation That Matters survey respondents said Dallas has been proactive in cultivating relationships between startups and the area’s established corporations. That open dialogue with enterprise has helped entrepreneurs scale their budding startups and attracted other early-stage businesses to the area.
“The bottom line is big business is already here, and additional businesses — startup businesses — will begin to look at Dallas as a more realistic option when they perceive Dallas to be what it actually already is, which is innovative,” said Trey Bowles, co-founder and CEO of The Dallas Entrepreneur Center, in the report.
Austin was the highest ranking Texas city on the Innovation That Matters list at No. 5. Boston and the San Francisco Bay Area took the top two spots respectively for the second straight year.
“Investments in next-wave industries have the potential to drastically change the landscape of entrepreneurship in the United States.”
This is the third edition of the innovation report, which focuses on the growth of “next-wave” or technology-driven startups disrupting industries from health to education. From 2012-2016, investment in these forward-thinking startups across the 25 cities examined reached $100 billion collectively, according to the report.
“Investments in next-wave industries have the potential to drastically change the landscape of entrepreneurship in the United States,” said Evan Burfield, co-founder and CEO of 1776, in a release. “Communities, companies, and local governments now face the challenge of nurturing and supporting these young businesses, developing them into permanent contributors to city economies.”
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