16 Jun Big Idea CONNECTpreneur: Fosterly’s 2016 DC Metro Startup Census Report
Earlier this week, Tien Wong, Chairman of Tech 2000 and Lore Systems, hosted his 24th Big Idea CONNECTpreneur in Tysons Corner, where he greeted more than 300 in attendance. I’ve been attending these events since their inception more than five years ago and can say I am incredibly impressed by the quality of speakers and entrepreneurs present each quarter. It is such a great testament to the leaps and bounds the DC metro area has made in cultivating an economy of technology-focused entrepreneurs.
For the 2017 Summer Forum, Wong brought in Frank Taylor, Co-Founder of Fosterly to talk more about these leaps and bounds and reveal the results of Fosterly’s 1st Annual Metropolitan Washington Startup Census Report, which shares data from 2016 to help readers understand the local innovation economy.
You can read the full report here for free, but here are the three takeaways I felt were most interesting:
DC is a region of young innovation. According to the study, the majority of DC startups have started in the past five years, 25 percent of which started in 2016.
Government isn’t all we’ve got. The study ranks Computer Software as the top industry in the region. This along with the other top industries show that DC is becoming more versatile and less dependent on government contracts to thrive. There’s a nice graph on page 16 – I was pleasantly surprised!
Startups are (increasingly) for women. “In 2014, Inc. Magazine named the Washington, D.C. metro area the best U.S. city for women entrepreneurs,” the census reports. And, Fosterly found 31 percent of startups surveyed for the Census had at least one female founder. That’s 13 percent above the national average reported by Crunchbase.
Fosterly plans to continue the Census annually, and has a goal to expand its sample size and data points and to build an online, searchable database to house the data. Taylor and his team are excited to keep turning out the Census to help its partners make data-driven decisions.
Launching in 2011, Fosterly exists to advance the interests of our regional innovation ecosystem. Fosterly is a community of entrepreneurs, creators, creatives, and collaborators, working together to tackle new challenges in business and technology. Learn more about them here.