Building an Inc. 500 City: Understanding Why Fast-Growing Companies Start Where They Do
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STUDENT(S)
John Bowman -
CLASS YEAR
2016 -
COMMUNITY PARTNER(S)
Endeavor -
PROJECT LOCATION(S)
New York City, New York -
REGION(S)
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PROJECT YEAR(S)
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PROJECT TYPE
Abstract
Purpose
The purpose of this study was to understand the factors and features that influence an entrepreneur’s decision to start his or her company in a given city. In particular, we were interested in the subclass of entrepreneurs who start fast-growing companies. We hoped to use these data for insight into two questions for local policymakers:
- Are entrepreneurs more likely to select a city in which they lived or have lived as the location for their company?
- What features do entrepreneurs value when selecting a site to found their company?
The hope is that the results will help policymakers understand whether to focus on the promotion and cultivation of local entrepreneurship (if entrepreneurs are more likely to select a city due to their personal connection to the region) or focus on branding and marketing their city to appeal to entrepreneurs with no connection to the city. Secondly, we hoped the results would help clarify the key focus areas upon policymakers could improve to increase rates of attraction and retention.