Prepared for Remco M. | Delivered October 7, 2021
Startup Ecosystem in Texas
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Assess the opportunity of launching a startup-focused accounting business in Texas (similar to
Identify the underlying opportunity (size / growth) of the startup ecosystem in Texas, relative to other opportunity areas in the US.
Evaluate if it's better to open in Dallas or Austin based on the startup ecosystem size and attractiveness of opportunity.
Find out if there are any existing startup-focused accounting firms operating in Texas.
Prioritize US-based data sources (national reports) and local data for Texas that isn't
The initial round of research indicates that data availability is adequate on the size and attractiveness of the startup ecosystem in Taxes as well as Dallas and Austin.
Data availability is adequate on existing accounting firms in Texas that provide services to startups, in addition to other sectors (e.g., small businesses or healthcare professionals).
on strictly startup-focused accounting firms in Texas appears to be limited.
Startup Ecosystem in Texas
According to the most recent data by Ewing Marion Kauffman Foundation, the rate of new entrepreneurs (percentage of population that starts a new business every
) in the US in 2020 was
in both the US and
in 2020. This means that "an average of
380 out of every 100,000 adults
became new entrepreneurs in a given month" in 2020.
Texas performs better
on the startup and entrepreneurship landscape compared to the national average.
On average, startups in Texas created
in their first year, compared to the national average of
The rate of new employer businesses as a share of all employer firms in Texas is
, compared to the national rate of
Startup Early Survival Rate (% of startups that are still active after one year) is
in Texas and
Startup Ecosystem in Austin
Austin has "
topped Inc.'s Surge Cities
list of the best places in America for startups in both 2019 and 2020."
According to Startup Genome, "
Austin is leading the country
when it comes to job creation and high-growth company density."
In addition, the city is
in early-stage funding.
During the initial round of research, we were able to identify several statistics and metrics that compare the startup ecosystem in Texas and in the US overall.
We have also provided some statistics on the startup ecosystem in Austin.
Based on adequate data availability, we anticipate being fully able to answer the research question and provide a more detailed comparison of the size (in terms of new startups, funding deals, etc.) and attractiveness of the startup space in Texas vs. the US and Austin vs. Dallas.
Since data on strictly startup-focused accounting firms in Texas appears to be limited, we suggest identifying accounting firms in Texas that provide services to startups, in addition to other end-users (e.g., small businesses or healthcare professionals).