Newspaper article St Louis Post-Dispatch (MO)

Mound City Money

Newspaper article St Louis Post-Dispatch (MO)

Mound City Money

Article excerpt

From David Nicklaus' blog about St. Louis business. STLtoday.com/moundcitymoney

St. Louis moves up on index of startup activity * St. Louis climbed 10 places, from the bottom of the pack to near the middle, on this year's Kauffman Foundation index of startup activity.

The foundation ranked St. Louis 26th among 40 major metropolitan areas, up from 36th place last year.

Kauffman says 0.23 percent of St. Louis adults became entrepreneurs last year, up slightly from 0.22 percent in 2015. The foundation's national report shows that 0.31 percent of Americans became entrepreneurs last year.

The index also considers the proportion of people who started businesses because of opportunity, as opposed to necessity-based entrepreneurs who went into business after losing a job. St. Louis' "opportunity share" rose to 77 percent in 2016 from 71 percent the year before.

Startup density the percentage of local firms that are less than a year old also rose sharply last year.

As I mentioned last year, the Kauffman index is a tough metric for a place like St. Louis, with few immigrants and an aging, slow-growing population. It's also a reminder that even with our obvious boom in startup activity in places such as T-Rex and Cortex, as a community we still have a long way to go.

In Miami, the top-ranked city on Kauffman's index, 0.56 percent of adults started businesses last year more than twice the rate in St. Louis. (06.01)

Yield Lab selects first Irish portfolio companies * Yield Lab, an agribusiness accelerator, has launched its Irish investment fund with investments in four companies.

The companies are developing beehive monitors, aquaculture vaccines, fish food and a new method of weed control. Yield Lab will invest 100,000 euros (about $112,000) in each firm and bring them to Galway, Ireland, for six months of training and mentoring.

Yield Lab's U.S. accelerator program, based in Creve Coeur, has invested in 15 companies since it began in 2015. The group announced last July that it would expand to Ireland. …

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