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2014 startup report (2013 Year in Review)

St. Louis Tech Startup Report 2013 in Review

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2014 startup report (2013 Year in Review)

  1. 1. catalyst for tech startups catalyst for tech startups st. louis tech startup report St. Louis Tech Startup Report sponsored by: 2013 Year in Review created in collaboration with
  2. 2. About ITEN The catalyst for tech startups in St. Louis, ITEN provides unique programs for rapid product development, connections to talent, essential networking, and access to funding. Designed by entrepreneurs for entrepreneurs, requiring neither payment nor equity, ITEN is a unique community asset building a new culture of innovation. ITEN can be found on the web at and @itenstl on Twitter. about this report table of contents The St. Louis Tech Startup Report: 2013 Year in Review is an overview and summary of the tech startup ecosystem in the Greater St. Louis Metropolitan Area. This is the second annual version of the report, reflecting our best efforts to capture information about the growth, evolution and current state of technology startups in the St. Louis region for the calendar year 2013. The report is based entirely on original data gathered from more than 350 startups that ITEN has tracked since 2008. 2 Jim Brasunas’ Letter 4 Key Trends Overview 5 The Companies 6 ITEN Top Ten 8 ITEN Fast Ten 10 Rankings 12 The Money 14 Jobs & Hiring 16 St. Louis: A Startup City 18 Quotations 20 St. Louis Tech Startup Ecosystem
  3. 3. Funding jim brasunas BioSTL, BioGenerator and ITEN Of course, the flow of money As demonstrated by the phenomenal growth statistics in this report, the St. Louis tech startup community had a banner year in 2013. product for wealth managers. iSelect is just getting out of collaborated to create a new is the lifeblood of any startup the gate, but great things are Special Interest Group (SIG) for community. And for regional expected from the fund, which anyone interested in Healthcare startup funding, there were takes advantage of some emerging Tech, and there are a number of quite a few positive developments provisions of the new Jobs Act. other SIGs formed or in the planning in 2013: stages, including App Developers, Cultivation Capital expanded A Community On the Move Women in STEM, Minorities in Tech, Big Data, and Gamification. in a number of important ways: While money and physical Whether it’s the continuing government, universities, the first out-of-Boston location co-launching 630 with the space are important, there are Innovate St. Louis and the growth in Top 10 ventures like foundations, startups and the for the Cambridge Innovation Center St. Louis Regional Chamber, an multiple other intangibles that Economic Development Partnership yurbuds, Norse, MulticoreWare general public to invest the time (CIC), a startup facility that attracts Accelerator program for financial go into creating a “support collaborated to launch the and others, or newer emerging and money needed to begin venture capitalists, entrepreneurs, services startups which invests infrastructure” for tech startups, AccelerateSTL website, a new companies bursting onto the turning things around. Creating entrepreneur support organizations $100,000 into each entrant. and in St. Louis, that infrastructure community portal. Along with this scene such as Pixel Press, Eateria and maintaining the infrastructure (ESOs) and corporate offices Cultivation Capital also developed continues to get better and better. Report, the new portal and other or Rovertown, the energy and that startups need is a great use from some of the most important a healthcare fund to go along with In 2013, there were a number of community initiatives are important enthusiasm of our region’s startup of public and private resources. worldwide players, all under the its previous focus on IT, nearly important developments in the ways that we broadcast to the community is beginning to make In St. Louis, it’s meant all the same roof. It’s hard to measure tripling the amount of investments startup ecosystem: world the great renaissance fundamental changes in the way difference, and in 2013 we had the impact that CIC will have on that it made into local startups. the region sees itself. This cultural some remarkably positive the St. Louis scene, but if it comes shift, still in its infancy, represents developments. anywhere close to what it’s done for Over at St. Louis University, Wednesday morning. 1 Million There is always more to do, Kendall Square in Cambridge, the Billiken Angel network Cups is held at the NineNetwork but we are happy to report expanded its reach by removing and provides a forum for early stage that the St. Louis tech startup the requirement of “SLU DNA” in scalable ventures to present their ecosystem is on a roll. The drive the beginnings of an incredible going on in St. Louis. 1 Million Cups meets every New Spaces, New Places we are really in for a treat! reason to hope for better times across the region. But it hasn’t This past year, we had a great Virtually across the street from the ventures they support; they business to the community. The to reinvigorate our region as an always been this way. expansion of physical facilities CIC, the growth of the BioGenerator are now open to investing in all event is live-streamed on Nine’s entrepreneurial hotbed of new local startups. website, and is a first coming-out for ideas and new business ventures many new ventures. ITEN brought has been years in the making. ITEN’s own Mock Angel program 1 Million Cups, an idea of the Ewing Today, with the continuing effort graduated eight ventures in 2013, Marion Kauffman Foundation, to of so many, we have a vibrant turnaround for our town, and a for tech startups. From a purely at CET, which is opening up new For decades, St. Louis was a functional point of view, tech lab space, is a big step forward for big corporation town, living startups only need access to high- bioscience startups. off the residual momentum of speed Internet, which has become ventures created by entrepreneurs ubiquitous across the region. But Out in Creve Coeur, the which is well above any previous the St. Louis market as the 4th city community of entrepreneurs striving generations ago. As those there’s also a growing appreciation County’s new Helix Center is year. We also announced a doubling in the country to host these events. to hatch the next great company. corporations progressed through for collaborative spaces with a already nearing capacity with both of the capacity of the program to Now there are 1 Million Cups Supporting them is an ever- their lifecycle and inevitably high density of startups. bio and IT startups, and includes meet growing demand in 2014. events in 26 cities nationwide. widening group of investors and a great community meeting space declined or were acquired by more business and community leaders. aggressive out of town interests, The continuing success of T-Rex that ITEN uses on a regular basis Arch Grants expanded its number ITEN’s new Entrepreneur In There is every reason to believe St. Louis wasn’t doing enough and the recent announcement of for Mock Angel meetings. The of grantees to 20 in 2013, and the Residence program is expanding. that 2014 will be even better to encourage and enable high- its purchase of the Lammert building Helix Center has also hosted ventures that Arch Grants is bringing The EIR program is modeled than 2013. growth startups that could replace on Washington Avenue, as well numerous meetings of the Regional to town from all over the world are on that of other successful tech them. A generation or two of as the opening of Lab1500 just Entrepreneurship Initiative. having a great impact on St. Louis. regions such as Silicon Valley, Let’s work together to make entrepreneurship received down the street, were both great pairing promising startups with it happen! little support, and St. Louis developments for the downtown In addition to all of these Another exciting development proven veterans who have experienced a relative decline tech startup scene. developments, more new was the launch of the iSelect Fund, previously helped build emerging co-working spaces are set to a new investment vehicle for ventures. ITEN’s EIR program will compared to other regions. A couple of miles away, the renewed open downtown in 2014, and startups. The iSelect Fund is join the successful EIR program at We’re fortunate that civic leaders development of the Cortex region is a new incubator is in the works essentially building a mutual fund BioGenerator as an important new came forward from industry, a tremendous story. Cortex will be for St. Charles. of local startups as an investment resource for the region’s startups. 2 / Jim Brasunas Executive Director, ITEN / 3
  4. 4. Key Trends Overview In 2013, the St. Louis tech startup community continued to mature and evolve while taking advantage of unprecedented collaboration across the region. The Companies The startup community begins For our Top Ten list and the For our Fast Ten list, we look and ends with the entrepreneurs industry segment lists in this only at companies founded in and ventures that are striving report, we focus on the following 2012 or later, and give additional to bring new ideas to market, key metrics: total funds raised consideration to the growth in reshape industries and markets, (from all outside sources including metrics during calendar year and ultimately create something of but not limited to friends and 2013. We think the companies lasting value. The St. Louis region family, grants, debt and equity), on the Fast 10 list are ones most has numerous emerging companies current monthly revenue, total likely to emerge and make an impact in the next year or two. ITEN saw some compelling trends Tech Entrepreneurs continue If we can achieve a talent influx from that are not just growing, but employees (including founders in our company analysis of 2013. to break down barriers between these under-represented groups, thriving. Once again, we rank the working full time on the venture), Tech entrepreneurs felt encouraged industry sectors. we will bring new opportunities for top ventures in our Top Ten, Fast Ten, and related factors. Outside A final note: we are limited growth to our region. and Segment Rankings for 2013. funding, customer revenue, in our evaluations by the by the prospect of additional local funding and widespread support 2013 saw a marked rise in companies and employees hired are the willingness of companies to from multiple Entrepreneur Support that are creating innovation and Greater collaboration among These lists seek to recognize and main criteria we use to measure share with us their proprietary Organizations (ESOs) in the area. efficiencies in exciting new clusters. community partners is benefiting celebrate those early stage tech a venture’s impact on the data. As you can see from this The number of tech companies ITEN saw good growth in areas startup companies. ventures that are getting the most community. We also include the report and any of our other tracked by ITEN swelled to over like Healthcare Tech, Mobile, and traction, most likely to become a growth in these three primary reports and publications, ITEN 350, and positive trends in the Gamification. Companies in these In 2013 many of the ESOs in our lasting success, and most likely to metrics over the course of 2013. does not divulge company- ecosystem continued to emerge. subsets are evolving and growing region worked closely together to make significant contributions to the By doing so, we give added specific data. And while most in unique ways and have prompted share best practices, collaborate St. Louis region’s economic prosperity weight to the traction that ventures are very cooperative, Monthly revenue and funding ITEN to create Special Interest on events, and in many cases through the growth of well-paying companies are getting right a few are less forthcoming and into tech startups continue to rise. Groups (SIGs) around them in 2014. share the work of accelerating jobs, and wealth creation for now, and reward the ones that this may have had an impact founders and investors. are growing rapidly. on their rankings. Creating the right environment for tech startups. The best example Our numbers from ITEN each of these types of companies of that may have been the Startup companies tell us that revenues to flourish will also require the Connection showcase in the fall and investments continued to collaboration of many other investors of 2013, a collaboration between climb from 2012 to 2013. Monthly and ESOs in the region. InnovateVMS, Innovate St. Louis, combined revenue of active ITEN ITEN, Arch Grants, St. Louis Regional companies has increased from Diversity and inclusion are Chamber, Cultivation Capital and $5.0M to $5.9M in 2013. Companies critical components for the region Six-Thirty. Over $160,000 of prizes seem to be more focused on to develop going forward. were awarded to early stage product development and customer ventures at Startup Connection cultivation to get to revenue. While the diversity metrics have in front of the largest attendance The lean startup methodology not changed significantly from 2012 in Startup Connection history. of developing a strong business to 2013, ITEN echoes the loud and Additionally, with the work of groups model, validated by revenue and/ clear message that the region needs like VentureSTL, LaunchCode and or users, is taking hold with both to foster more inclusion of women the Regional Entrepreneurship entrepreneurs and investors. and minorities in the tech startup Initiative, the programming and community. Other ESOs in the region support of entrepreneurs is more have come to the same conclusion. coordinated than it has ever A diverse and vibrant workforce been. (See the graphic of the tech helps attract the talent needed by ecosystem at the end of this report.) learly, innovation and entrepreneurship are key to the St. Louis C region’s future success and economic growth. After laying the groundwork for years by building business incubators and lab space, connecting mentors, investors and entrepreneurs, leveraging our research capacity and encouraging new enterprises, the St. Louis startup community is vibrant and thriving. Missouri’s technology employment grew at the third-fastest rate in the nation last year. Under30CEO ranked Kansas City and St. Louis the fourth and fifth best large cities for young entrepreneurs. St. Louis’ entrepreneurial rebirth and boom over the past year is very real, and to sustain and grow this momentum will require constant attention, collaboration and creativity. When it comes to innovation and entrepreneurship, St. Louis’ best days lie ahead. Joe Reagan President CEO, St. Louis Regional Chamber our startup companies to thrive. 4 / / 5
  5. 5. TOP TEN 1 yurbuds yurbuds is the #1 selling sport earphone brand in the country. The company was 2 Norse Norse offers proactive, intelligence-based security solutions that enable organi- 3 MulticoreWare Inc. MulticoreWare is the leading provider of programmer productivity tools, libraries 4 Aisle411 Inc. Aisle411 collects, organizes, and monetizes product inventory and location 5 LockerDome LockerDome is a social media platform for sports; it is one of the fast- founded in 2008 by an Ironman zations to identify and defend and application development data through a mobile est growing online sports Triathlete and a 24-time mar- against today’s advanced cyber- services for homogenous and engagement platform, bring- properties in the world. More athoner to solve the athlete’s threats. Norse’s global platform heterogeneous multicore CPU ing simplicity to in-store than twenty million people need for a quality earphone that continuously collects and ana- and GPU architectures. search and navigation. use LockerDome to consume doesn’t hurt or fall out during lyzes “dark intelligence” from content and interact with active use. yurbuds’ products where bad actors operate on like-minded people around are ergonomically designed the Internet to provide unique their favorite sports interests. for comfort and exceptional fit, insight and actionable intelli- while providing best-in-class gence enabling organizations audio quality and durability. to defend against today’s advanced threats. Honorable mentions These dynamic ventures just missed making the Top 10 list (in alphabetical order): 6 Mortgage Returns Mortgage Returns is a database-driven CRM and Automated Marketing Solution 7 Splice Machine Splice Machine is the only transactional SQL-onHadoop database for real-time 8 BusyEvent BusyEvent Mobile– the app that builds event apps–is a suite of iOS, 9 Food Essentials FoodEssentials pro- vides grocery retailers and brands with big data-driven 10 Bonfyre (Off Campus Media) Bonfyre is a free mobile app that redefines social sharing. It helps Blendics designed for the mortgage in- Big Data applications. Splice Android and web tools that information about ingredients plan, capture and share event Building Works Inc. dustry. The company improves Machine provides all the bene- make tradeshows and confer- and additives in food products, experiences with people that Click with Me Now profitability of mortgage origi- fits of NoSQL databases, such as ences easier to manage, more enabling targeted marketing matter to you and have similar Fanzlive nators by maximizing customer auto-sharding, scalability, fault social and engaging and much to ingredient-conscious interests and/or affiliations. Foxtrax retention, increasing prospect tolerance and high availabil- more profitable to produce. consumers. Gremln conversion and driving more ity, while retaining SQL – the By recording the digital trail Hatchbuck business from referral partners. industry standard. It optimizes of every attendee, BusyEvent Lumate Clients using Mortgage Returns’ complex queries to power Mobile remarkets live event Makaboo CRM and marketing platform real-time OLTP and OLAP apps information and generates Respond Well average a 1,500% ROI. at scale without rewriting a Return on Action.℠ (formerly Respondesign) existing SQL-based apps and BI tool integrations. 6 / / 7
  6. 6. FAST TEN 1 RoverTown RoverTown has developed a student discount mobile app available on both Google Play 2 Pixel Press Pixel Press has developed a patent-pending technology enabling users of all ages to 3 Eateria Eateria has created a digital loyalty-marketing tool. This is a whole new 4 CrazyForEducation CrazyForEducation provides high quality “flip” online lessons for middle 5 Achor Technologies Achor Technologies is creating a unique, time saving, smile producing store and Apple store. The turn pencil and paper drawings way for restaurants, food and and high school students on alternative to one of life’s RoverTown Student Discount directly into interactive hospitality businesses to a world-wide basis. overcomplicated tasks. Program is the mobile provider video games. connect with customers by 9 10 for 72 college/university student utilizing email, social media discount programs across and mobile marketing. the United States. 6 AcuteTeleCare AcuteTeleCare has developed a lightweight iPad-based platform to 7 Code Red Education Code Red Education creates, markets, and distributes a curriculum 8 SirenGPS Siren develops smartphone technology to immediately connect simMachines simMachines provides a cloud based data science solution that allows Ben Medica BenMedica closes the information gap at the point of care by enabling manage acute stroke patients. of computer language and people to emergency a programmer to make healthcare payers to succinctly AcuteTeleCare connects computer coding skills to services and loved ones – predictions and recognize convey benefit coverage to physicians and patients, grade school students. making communities safer. patterns in a matter of both prescribers and patients optimizes workflow, reduces hours. simMachines offers through SaaS web-based tools. time to treatment and similarity search of any improves outcomes. kind of unstructured data, classification, regression and recommendation. The St. Louis startup scene simMachines’ tools are is hotter than ever before. powerful building blocks that can be combined to solve a Jim McKelvey, Co-Founder, Square General Partner, Cultivation Capital 8 / wide array of problems. / 9
  7. 7. Rankings FOUNDERS College St. Louis 33.8% Missouri - Non STL 15.9% COMPANY STATUS Illinois 14.6% US (remaining) Revenue Status Outside Funding Status Funded Company Status 30.6% Europe 1.9% New Zealand Australia 1.3% Asia, Africa, Latin America 0.18% Origin STL 41.7% Missouri - Non STL 12.1% Illinois 11.4% US (Remaining) 15.9% Europe 1.5% Latin America n 27% with revenue n 41% received outside funding n 42% with revenue n 73% ithout revenue w n 59% no outside funding n 58% without revenue 5.3% Africa 0.8% Asia 3.0% Other 8.3% SEGMENT RANKINGS Ethnicity Minority Owned Education Women Owned 1. MulticoreWare Inc. 2. Eateria 3. DPM United 4. MedPreps 5. Appcropolis 1. CrazyForEducation 2. MedPreps 3. Code Red Education 1. BuildingWorks Inc. 2. Makaboo 3. StoryTrack 4. Saving Memories Forever 5. Muzio Mobile 1. Aisle411 Inc. 2. Lumate 3. RoverTown 4. Pixel Press 5. SirenGPS Financial Services 1. Click With Me Now 2. BenefitBar 3. BarrelFish Clean/Green Tech 1. Lumate 2. Pixel Press 3. PlazSoft 1. BusyEvent 2. Food Essentials 3. BuildingWorks Inc. 4. Evtron 5. Manufacturers’ Inventory (DIMS) Security Healthcare IT 1. Norse 2. SirenGPS 3. Parameter Security 1. DPM United 2. Respond Well 3. BizMed 4. AcuteTeleCare 5. BenMedica Game Design Social Media 1. LockerDome 2. Bonfyre (Off Campus Media) 3. Gremln 4. Lumate 5. FanzLive 1. yurbuds 2. LockerDome 3. FanzLive 12.4% Asian 8.8% Australian/New Zealand 0.9% Caucasian 70.8% Hispanic 4.4% Multiracial 2.7% Prior Entrepreneurial Experience Yes 70.0% No 30.0% Age Under 25 Sports 10 / African American 19.0% 26-35 37.0% 36-45 27.0% 50-59 12.0% 60+ 5.0% Gender MALE 81.0% FEMALE 19.0% / 11
  8. 8. The Money Monthly Combined Revenue of ITEN Companies ($M) 7 5.9 6 5.0 5 We knew that 2013 was a growth year for the St. Louis tech community, but once the numbers were tallied up, we realized just how big a year it was. 4 3.5 3 collaboration between 2 .819 1 Battery Ventures, Oak Investment more than doubled from $30 million where new concepts were seeded Partners and Bain Capital. 2009 in 2012 to over $66 million in 2013. and promising existing startups None of the significant investments *Minor correction to 2012 data The tech scene in St. Louis is were being supported. recorded in the survey required the 2010 2011 2012* 2013 0 increases from a variety of my belief that 2014 will be sources. Angel investment was up development perspective. an even bigger year. news from the local economic healthy ecosystem. significantly including increased The quantity of startup ventures activity from Arch Angels, Billiken Explosive growth in St. Louis tech receiving investment is up Angels and from family offices and unaffiliated individuals. The Missouri but the better story is that these year over year cumulative growth Technology Corporation remained numbers were not significantly isn’t the singular result of any one an important contributor of capital skewed by outliers. Rather, they outlier company. More St. Louis tech to St. Louis area startups, and represented expansion and growth companies were funded in 2013 venture capital funding increased by several facets of measurement, than in any year before. significantly by local firms such as proving that the sustained efforts Cultivation Capital and FTL Capital. B rian Matthews F ounder Managing Partner, Cultivation Capital Money Invested in ITEN Network Companies (Cumulative Total) investing is certainly a great story, significantly from years past. The companies in both number of as total dollars invested. It is St. Louis, which is welcome appears to be an increasingly stage venture funds leading to a companies invested in as well company to give up operations in Investing activity saw significant accelerators, angels, and early record number of venture-backed well-balanced funding ecosystem and after a thorough exam, it universities, entrepreneurial support networks such as ITEN, 1.2 Investments in tech startups growing into its adolescence, 2013 saw increased of the St. Louis startup community 140 137.3 120 100 Amount of funding currently sought by ITEN companies: $53.9M 80 70.6 are materializing. The size of funding rounds remained well distributed with Ironically, one of the benefits greater volume seen in both of a growing local investment smaller seed stage investments community has been increased and in larger growth stage attention from out of town investors. investments. The total numbers This was the case in 2013 when were not particularly skewed by significant investments were made any single investment stage. The into St. Louis startups by national cumulative figures represent a venture capital institutions including 12 / 60 Clifford Holekamp 40.3 Senior Lecturer in Entrepreneurship Olin Business School, Washington University in St. Louis General Partner, Cultivation Capital 40 28 17.5 2009 20 2010 2011 2012 2013 0 / 13
  9. 9. Jobs Hiring Hiring Fields Bridging the Talent Gap Access to talent continues to be future success of the company. will be technical in nature, a critical challenge to the startup Looking forward to 2014, companies with companies looking for community. It is a need that is responding to our survey indicate programmers, designers shared among large and small an increased willingness and need and coders. companies in the region. Our to hire this year. If properly funded numbers for 2013 show that while and able to find the talent, ITEN 2014 should bring interesting a number of ventures added to companies are looking to add as assistance to bridge some of their staffs, overall job growth in the many as 259 positions in the first the talent gap. Efforts such as startup sector remained basically 6 months of 2014 compared to LaunchCode, ArchDevAngels, constant. The loss of employees at 185 positions in 2013. That number and the ITEN Talent Finder ventures that ceased operations in grows to 539 within the entire will be more fully implemented 2013 offset the increased hiring at year of 2014 versus a projection by this time next year. As of 425 new hires in 2013. these efforts mature they will growing ventures. sales 18% marketing 15% operations 9% Number of Employees Companies Expecting to Hire 1st 6 months of year: tech 29% 185 259 2013 2014 full year: 425 539 2013 2014 be tremendous tools in the The need for good talent remains, The needed talents and skills region’s ability to attract as more startups realize how critical are not a surprise. Almost 30% and retain talent for this early staff members can be to the of the positions being offered emerging marketplace. MTC’s mission includes Full Time Employees With Growth economic development through technology innovation n 2003, Ewing Marion Kauffman Foundation challenged 30 leading I 900 universities for its Kauffman Campuses Initiative (KCI) and selected 835* 827 Washington University as one of eight inaugural Kauffman Campuses and recipient 800 of a multi-year grant to create new models of entrepreneurship education. With 700 University established in 2003 the Skandalaris Center for Entrepreneurial Studies 601 600 and made entrepreneurship a campus-wide, interdisciplinary effort. Under the has not only played a pivotal role by contributing resources and creating the Through our IDEA Fund program for tech startups, and funding of important initiatives such as additional generous support from Julie and Robert Skandalaris, Washington leadership of Chancellor Mark Wrighton and Ken Harrington, Skandalaris Center across the state of Missouri. 500 455 ITEN, we’re committed to the growth of the tech sector in St. Louis. Programs like ITEN are vital to the future health of the regional economy. culture of innovation and entrepreneurship at Washington University, but also by 400 supporting the entire St. Louis region. I have an emotional connection with this 300 region and it pleases me greatly to see the evolution of a vibrant entrepreneurial ecosystem in this community. Among the number of fine organizations that have JOE BANNISTER CHAIRMAN OF THE BOARD, MISSOURI TECHNOLOGY CORPORATION 200 emerged during the last few years, ITEN is highly regarded for its work in effectively 100 nurturing entrepreneurship and is a shining example of why St. Louis is now recognized on the national map as an important region for innovation and entrepreneurship. 2010 2011 2012* 2013 0 -100 SUREN DUTIA SENIOR FELLOW, KAUFFMAN FOUNDATION THE SKANDALARIS CENTER FOR ENTREPRENEURIAL STUDIES, WASHINGTON UNIVERSITY IN ST. LOUIS 14 / n Full Time Employees *Minor correction to 2012 data / 15
  10. 10. St. Louis: A Startup City ro d n e y c r i m St. Louis in the Eyes of Startups. What are entrepreneurs saying? The St. Louis region has a long history of innovation. European trappers, traders and entrepreneurs made their way to St. Louis, making this the Gateway to the West. Subsequent waves of immigrants migrated from the East Coast, the post-Civil War South, central Europe, Asia and Latin America. The result is a diverse population and a culture of innovation. St. Louis has always inspired initiatives such as ITEN, T-Rex, the Helix Center Biotech Incubator and foreign-born citizens to our region. what is just beyond the horizon. Arch Grants that are leading the studies entrepreneurial ecosystems around the world. Through partnerships like we have with Washington University in St. Louis and ITEN, we are exposed to the many things happening in places like St. Louis, things with the potential for replication elsewhere. The past few years have seen an impressive growth in the number and quality of new tech ventures being launched there, often fostered and supported by our partners, as well as by others in the ecosystem. Because of activities like the ones we are observing in places like St. Louis and Kansas City, the future n 29% Excellent n 56% Good n 12% Fair n 3% Poor Mosaic Project to attract new people to think about what is next, The Kauffman Foundation How Do You Rate St. Louis as a Place For Tech Startups? way to support and develop new We are an area accentuated by The past decade has seen a ventures. The result is an explosion of emerging companies in fields such as Internet security, big data analytics, social media, mobility, We have great universities and now spread to areas of health care, IT and financial services. What St. Louis Is Lacking one of the top zoos in the country. in the biosciences and has T hom Ruhe Vice President of Entrepreneurship, Ewing Marion Kauffman Foundation arts and architecture, as well as across the region that first began region of the country. world class museums, parks, fine renaissance of entrepreneurship looks bright for the entire central research facilities, all with a low cost of living, making this a unique applied technology, advanced manufacturing, social enterprise St. Louis supports its startups. and outstanding place to work, and renewable energy. Much It is home to Cortex, a high- live and play. of this activity is spurred by an density innovation hub bordered active spirit of public/private by Washington University and These are exciting times in St. Louis collaboration. Recently, the Saint Louis University, and and we invite you to be part of it. Regional Entrepreneurship STLVentureWorks, a system of With a history of innovation and risk Initiative was launched to small business incubators that is taking, we’re an active, startup- support the organizations that the country’s largest system of friendly city with world-class support. are the foundation of the local incubators and one of the best. entrepreneurial ecosystem. St. Louis is home to big ideas, Specifically in the area of high tech, which is why this past year area St. Louis has wonderful non-profit leaders launched the St. Louis Rodney Crim President, St. Louis Economic Development Partnership n 44% access to more funding n 9% better talent pool n 9% more large companies’ involvement with startups n 16% more mentoring support n 13% better press coverage n 9% others As indicated by survey of ITEN companies 16 / / 17
  11. 11. Fanzlive has made a We have been very impressed The St. Louis startup Since arriving in St. Louis conscious effort to make with the support we received community is growing fast 18 months ago we’ve grown St. Louis its home. We have as we work on making my and making significant from four people to 15 full witnessed the explosion of startup, Saving Memories headway. The people of time and 30 part-time. This the startup community, and Forever, a success. We find St. Louis are among the most year we’ll become a profitable want to help build St. Louis particular value in the ITEN welcoming. For the community company and we’re poised as a place to be, for potential organization and programs. to reach its great potential for tremendous growth. consumers, fun-seekers, They have been instrumental and become the next Midwest A large part of this is due to and growing businesses. in providing a set of courses Silicon Prairie, some hard and the support of the community; As a company, we owe a lot and a mentor base that has significant changes in vision, from grant support, mentor to the St. Louis startup focused my efforts, refined leadership and network will support, financial investment community for our early my business plan and honed need to be made. The support and the general connectivity success. We have realized my investor presentation. from Arch Grants, ITEN and and enthusiasm of the people firsthand the tremendous The startup environment many other kind-hearted and networks here in St. Louis. support from the locale, in the area is excellent. St. Louisans is helping Eateria We’re proud to be a part and their desire for us The enthusiasm and energy to become a world-class of it all. to be successful. are growing. We are very organization. For this we happy to have moved are indebted. Tim Murphy, President/Founder, Fanzlive Saving Memories Forever to St. Louis. Anton Xavier, Co-Founder, Food Essentials Ola Ayeni, President/Founder, Eateria Harvey Jane Z. Baker, Founders, Saving Memories Forever 18 / / 19
  12. 12. st. louis Tech Startup Ecosystem ITEN continues to send the St. Louis Arch Angels a steady stream of high tech IT companies through their Mock Angels program. The applicants have a defined product, business plan and are very well prepared to present to the investment community. Gil Bickel, Chairman, St Louis Arch Angels Because of space constraints, this graphic does not include the many important networking events, conventions, competitions, conferences, key service providers, sponsors and other fundamental elements of our region’s thriving ecosystem. 20 /

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St. Louis Tech Startup Report 2013 in Review


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