“The high tech hub of the Midwest”, “the new startup frontier” – these are just some monikers St. Louis has earned from high-profile media outfits like CNN and FiveThirtyEight.
Noted science and technology magazine, Popular Mechanics, meanwhile, has its own name for the Gateway City – “one of the best startup cities in the U.S.”
Here’s why you should launch your business in St. Louis.
- The startup ecosystem is thriving
St. Louis has a long history of entrepreneurial successes, and it shows no signs of slowing down. Angel’s List counts over 533 startups in St. Louis, with an average valuation of $3.8 million.
Livability.com listed St. Louis as among five up-and-coming tech hotspots, citing its top-notch incubators, co-working spaces, and venture capital firms. It also landed the number two spot on Forbes’ top 10 rising cities for startups based on venture capital (VC) deals, entrepreneurship rates, and the costs of living and doing business, among other factors.
The secret sauce of this success was revealed in a case study by the Kaufmann Foundation. It noted how various support organizations strive to meet the needs of young companies to promote a cooperative and constantly evolving environment.
VC firms funneled $200 million into St. Louis startups in the first three quarters of 2018 alone. Non-profit organizations like Arch Grants have also distributed a total of $6 million to 114 startups.
- The incubator scene is second to none
What’s a startup scene without a host of dependable incubators? The city counts 19 incubators and 11 accelerators among its ranks, including renowned organizations like T-REX and Accelerate St. Louis. These organizations are ready to help get one’s business up and running, offering valuable knowledge, expertise, and resources.
St. Louis’ incubators and accelerators do it all, from brainstorming to fundraising. They also do community work in a concerted effort to contribute to the city’s economic growth.
Click here for a list of incubators and accelerators in the city.
- There’s no shortage of support organizations
In addition to St. Louis’ incubator scene, there’s also a host of support organizations and maker spaces to help business newbies launch their startups. Choose from 22 top-tier entrepreneur support organizations and 16 co-working communities. Then they can work their magic in any of the six maker spaces located in the city.
The Small Business Empowerment Center seeks to help small business owners grow their companies and create wealth in their own communities. The Balsa Foundation gives feedback on business ideas, while GlobalHack holds hackathons that bring entrepreneurs, developers, engineers, and UI/UX designers together.
Click here for a list of entrepreneur support groups in St. Louis.
- Available and accessible mentors
Learn from the best here in St. Louis. There are notable support organizations that provide free mentoring. SCORE St. Louis, in particular, has been mentoring and offering advice to small business owners for over 50 years.
The Professional Women’s Alliance (PWA) also has a mentoring program that connects women entrepreneurs with brand consultants, litigators, sales executives, and other professionals who are willing to share their expertise.
- The city boasts of world-class facilities and office space
The Bio Research & Development Growth (BRDG) Park features state-of-the-art bio research facilities, wet labs, growth chambers, greenhouses, and office space for scientifically inclined startups. Emerging enterprises also benefit from on-site training and interactions with leading scientists.
Jumpstart and grow your business in one of the most exciting startup scenes in the world. Call us, Cardinal Realty Group, at 1.636.225.0385 or send an email to Hal(at)CardinalRealtyGroup(dotted)com. We can help you find commercial real estate and investment properties in the Missouri side of the St. Louis metro.