Boulder No. 1 on high-tech startup list
Last Updated: 15:22 August 14, 2013
Boulder's density of tech startups - defined for the purposes of the study as companies between 1 and 5 years old with high shares of employees in the fields of science, technology, engineering and math - is 6.3 times that of the average city in the United States.
Boulder came in just ahead of No. 2 Fort Collins-Loveland, with a density of 3.0 times the average. Third-place was the San Jose-Sunnyvale-Santa Clara area in California at 2.6.
Two other Colorado locales made the top 10. Denver-Aurora-Broomfield was sixth, and Colorado Springs was ninth, one spot ahead of Cheyenne, Wyoming. Grand Junction came in 19th.
The report used data from the Business Dynamics Statistics series compiled by the U.S. Census Bureau, which tracks annual numbers of new businesses from 1976 to 2011.
"In the case of Boulder, a startup community whose evolution I've observed and participated in closely over the past many years, the cultural and economic transformation has been extraordinary," Brad Feld, co-founder of Boulder venture capital firm Foundry Group and startup accelerator TechStars, said in a release from the report's authors.
"While there isn't one, definitive blueprint to building a technology industry, this research can hopefully inspire communities and policymakers to work together to ensure that the spread of high-tech entrepreneurship isn't just a trend, but a long-term phenomenon."
Also of note from the report's findings was that during the last three decades the high-tech sector was 23 percent more likely than the private sector as a whole to see new business formation. The study also found that high-tech startups are crucial to job creation, with job creation so rapid in their early years that it offsets the job losses by young tech companies that fail.
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