(Memphis Daily) When approaching economic development in Memphis, it’s important to consider the impact that high-growth entrepreneurial companies have made locally and nationwide.
In fact, the Kauffman Foundation found that most net new jobs in the last 30 years have come from high-growth entrepreneurial companies.
Here in Memphis over the past four years, Start Co., BioWorks, and EmergeMemphis and other organizations have focused on bringing Memphis into the national startup conversation, conducted experiments on how to effectively build and nurture a startup culture here, along with allocating capital, pooling technical and business resources, and how to recruit and retain talent from around the country, and world.
While this momentum is impressive, it’s been carefully orchestrated with strategic effort, coordination and real material resource and true embodiment.
In August, nationally recognized economist Edward B. Montgomery came to Memphis to give the keynote at Start Co. Demo Day 2014 – his message was clear and sobering: communities such as Memphis that do not continuously invest in startups and nurture their ecosystems will continue to experience job losses from traditional industries and sectors, even as “new jobs” are added.
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