The Innovation & Entrepreneurship Work Group has created teams focused on investor relationships, innovation, entrepreneurship, data and culture with the primary goal of enhancing KC’s culture for innovative thinking. Chairs Darcy Howe, Ron LeMay and Davyeon Ross along with workgroup members have interviewed more than 100 entrepreneurs. Several ideas have emerged from this work:
- Silicon Valley is successful because all of the top-level CEOs and investors work together as a GROUP – similar environments with different personalities.
- There is a strong investor community in KC and it has the potential to gain significant influence; however, it is humble and unassuming, which can create the perception that investors do not determine or they are difficult to identify.
The group is benchmarking peer groups and markets and working to determine success metrics that can be measured from year-to-year. They are looking at business formation, but also identifying opportunities for businesses to innovate with others. Common themes from these conversations:
- It is critical for KC to create the kind of culture found in established innovation and entrepreneurship markets like Austin, Boston and Silicon Valley.
- Entrepreneurs are still challenged with finding capital in the KC market. There are individuals with capacity interested in making investments, but unsure of opportunities and limited time for necessary due diligence.
A focus on entrepreneurship within large corporations is also being pursued, with several thoughts in mind:
- Large corporations may have ideas and experiments that they have shelved for various reasons.
- Could the Innovation & Entrepreneurship Work Group draw a bridge between local entrepreneurs and corporations to develop these ideas and patent them?
- Considering an “Intra-preneur” day to encourage invention in big business.
The Work Group will focus on how KC Rising can address this issue and impact a change in attitude through education, connectivity, infrastructure, and due diligence capacity. The goal is to create a vibrant culture of investing.