Oh, how I like lists… particularly when something I am fond of is on one. This one is from Forbes and Revolution. They list the Top 10 Rising Cities for Startups and Minneapolis – St. Paul is on it. Being a “homer” I think we are better than #9 but I’ll get over it. I have been saying for a long time that I do not think this region needs to be compared to Seattle, Bay Area, Boston or New York City. We do want and need to be at the top of the next list… the Tier II cities. And we need to stay at #1 or #2 in the Midwest with Chicago.
To get to the “rising cities” Forbes took out the top 10 cities that brought in the most VC funding the past three years: San Francisco, New York, Boston, San Jose, Los Angeles, San Diego, Seattle, Chicago, Washington, D.C. and Austin. They then took the next 30 largest cities and used 13 metrics: costs (business and living), education levels, college presence, entrepreneurship rates, working-age population growth and venture capital investments (density, total number, dollar value and growth).
That data gives the following ranking:
Charlotte, North Carolina
The data specific to Minneapolis-St. Paul
- Major VC Deals: Bright Health, CVRx, Relievant Medsystems
- 3-year Deal Count: 284
- Cost of Doing Business: 2% above the national average
The annual Twin Cities Startup Week allows entrepreneurs to reach investors, customers and future employees. Innovation is strong on food and agriculture with food giants Cargill, General Mills, Hormel and Land O’Lakes all based in the area.
Our 3-year deal count is 4th highest on the list and of course I am happy to see a nod to Twin Cities Startup Week. I would like to see the cities ranked by each of the metrics… I’m nerdy when it comes to these things.
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