Leading technology publication Fast Company in its May issue ranked the 50 states and Washington, D.C. on their startup communities. Florida prevailed over longtime entrepreneurial hubs such as California and Massachusetts as the nation’s leading state for innovation.
The statistical rankings assessed startup data from the Bureau of Labor Statistics, the Kauffman Index of Entrepreneurial Activity, Startup America, AngelList and Fundable. Fast Company evaluated the number of new businesses launched in each state and the percent of jobs those companies contributed to total state employment.
Florida receiving the top overall honor certainly dispels many commonly held assumptions about the Sunshine State as an elderly and overly laid-back locale. The state also made the top five in several of the sub-rankings including: Revenue per Startup, Fundable Entrepreneurs per Millions Residents, Fundable Investors per Million Residents, Percentage of Total Employment from Firms Less than Three Years Old, and Rate of Private-Sector Establishment Births.
It is gratifying to see Florida recognized for its innovative culture and strong entrepreneurship. As a young and dynamic company based in South Florida, Red Banyan Group is very excited to be part of the nation’s top startup state.