Downtown Denver Startup Report Highlights Thriving Culture of Innovation
Denver, CO – The Downtown Denver Partnership released the Downtown Denver Startup Report today including data that indicates Downtown Denver’s culture of innovation and entrepreneurship is thriving. The report, released in conjunction with the first day of Denver Startup Week, the largest free entrepreneurial event of its kind in North America, is the only analysis that captures the state of startups in Downtown Denver. The Partnership co-founded, co-produces and is a title sponsor of Denver Startup Week to support building a culture of innovation and entrepreneurship as a critical element of the Partnership’s strategy to create an economically healthy and vital Downtown Denver.
Highlights from the report include:
- 4,508 people work for 664 tech startups in the center city
- Nearly 8 percent of center city businesses are tech startups
- 56 startups raised more than $420 million in venture capital in the last year
- 165 tech startups were founded in the center city just last year
“The increasing number of tech startups, a growing population of highly qualified employees and significant and continued investment in center city innovation creates an entrepreneurial ecosystem that plays a significant role in an economically vital Downtown,” said Tami Door, president and CEO of the Downtown Denver Partnership. “56 center city startups raised more than $420 million in venture capital funding, up from 2015.”
In addition, the Partnership reported on trends for Downtown Denver technology firms over the past three years, including:
- In just the past two years, the total number of tech startups located in Downtown Denver has increased by 13 percent, compared to 9 percent growth in the number of businesses in all industry sectors.
- Since 2013, total employment in the technology sector has increased at a faster rate than Downtown employment as a whole.
- Technology companies now represent 10 percent of all companies in Downtown Denver.
“The growth of tech startups is strong, both in terms of number of new businesses and job creation,” said Door. “Through programs like Denver Startup Week and The Commons on Champa, we are focused on providing access to free resources and education to further establish Downtown Denver as the leading place for businesses to succeed.”
Denver’s reputation as one of the best places to start and grow a business is also evident in national rankings, including Denver’s recognition as the Best Place for Business and Careers by Forbes, the third Best City for Entrepreneurs by Investopedia, and the third Best Place in the Country to Launch a Startup according to 1776.
Image courtesy of the Downtown Denver Partnership