They come, in groups of 20, 30, even 60, to listen and talk about a lofty goal: to make the Kansas City area “America’s Most Entrepreneurial City.”
Launched by the Greater Kansas City Chamber of Commerce, the “eCity” endeavor is one of five action priorities for the next few years. And to develop that Big 5 goal, intrigued area residents ranging from “just an interested citizen” to established “serial entrepreneurs” have been attending a series of two-hour idea sessions.“This is the point of departure,” said Peter deSilva, chief executive of UMB Bank and a past chamber chairman, who was tapped to lead the entrepreneurial effort.He’s a rousing but realistic cheerleader.“We’re talking 10, 20 years out, maybe,” deSilva said at one of the meetings Monday night. “But this is the moment when Kansas City seriously said this is a sustainable, outsized goal.”So the people at the meetings listen, talk and scrawl on flip charts, listing the area’s positives, its negatives and their wish lists.The pluses: The area has a strong Midwestern work ethic and stable workforce, a good transportation infrastructure, great cultural amenities and philanthropic giving, a relatively low cost of living, some outstanding schools, and entrepreneurial support from the Kauffman Foundation and the University of Missouri-Kansas City.The minuses: lagging inner city cores, difficulty recruiting high-tech talent, a shortage of angel investors and bank funding, a “flyover” reputation from the coasts, fragmentation of assets around a sprawling metropolitan area, and an overall mindset that avoids risk.Jo Anne Gabbert, who leads the meetings, sees consistency in the opinions expressed.People are agreeing that for the Kansas City area to make a worldwide name for itself as a great place for entrepreneurs, it needs to believe it truly is — and then be relentless in its public relations to make others believe it, too.Look at Indianapolis, which became “the amateur sports capital,” or Nashville, which is “Music City,” or three cities in North Carolina, which are the “research triangle.” Not just by doing it but by saying it over and over — that’s how they’re known.Participants called for nothing short of a cultural revolution to make that kind of reputation for the Kansas City area.“We need more financing, more money,” called out one participant Monday night in a session on the Sprint Nextel campus in Overland Park.“Mentors,” chimed in another.“A positive business climate in which big businesses buy from and engage entrepreneurs,” said a third.Attendees appear to agree that the area has entrepreneurial talent, but it’s difficult to attract others, and it’s especially tough to get the bigger banks and angel investors to lend money.“There’s a gap between resources and capital,” said one participant. “You can get a little bit of start-up money, but the bigger dollars for expansion just aren’t there.”DeSilva, himself a “big banker,” said his committee was working to bring the area’s angel investors and other major funders into a room together to introduce them to one another and to the prospects for fueling entrepreneurial growth.“There’s money here in this town, but there’s a problem connecting funders with good ideas,” deSilva said. “This community’s funders are pretty quiet about what they do.” Another plus, the area’s choice as the first site for Google’s super-fast Internet infrastructure, hasn’t drawn much talk from participants.Most said they’re still scratching their heads about what advantages the project will actually bring to the two Kansas Citys. And even if it’s a stunning step up, they said, it will amount to no more than a one- or two-year competitive edge.Some also noted that Kansas City wasn’t alone in striving to be an entrepreneurial home. Across the state, business leaders already have come together with $2.5 million in funding for an “Arch Grants” program that aims to make St. Louis “an urban center for innovation.”Arch Grants provide competitive, start-up money for entrepreneurs who agree to locate in the city. This week Arch Grants got a $150,000 infusion from Peabody Energy and named Jim McKelvey, co-founder of Square, a billion-dollar mobile payments device company, to lead its advisory board. Access to capital is also a big deal in Kansas City, Gabbert said. “But talking about it like this is a good start.”Read more Workplace
Posted on Tue, Feb. 21, 2012 11:03 PM
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‘ECity’ gets a boost from KC area entrepreneurs
Brainstorming sessions examine what region can offer firms wanting to locate, expand here.
Remaining entrepreneurial discussions
• Today, 11:15 a.m.-1:15 p.m., Cerner’s Vision Center, 2850 Rock Creek Parkway, North Kansas City.
• Thursday, 5:30-7:30 p.m., Mel Aytes Education Center at Metropolitan Community College-Longview, 500 S.W. Longview Road, Lee’s Summit.
Reservations are needed at www.kauffman.org/big5conversation.
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To reach Diane Stafford, call 816-234-4359 or send email to stafford@kcstar.com.
