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2015 Driving the Innovation Economy | Austin

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Michele Skelding

on 20 August 2015

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Transcript of 2015 Driving the Innovation Economy | Austin

© 2012 Austin Chamber of Commerce
Austin takes the top spot on Forbes' annual list of America's Fastest Growing Cities for the 4th year in a row.
Recently named the #1 Hottest Startup Scenes in the U.S.
No. 2 on “America’s Most Innovative Cities.”
Population: 1.9 million
Population doubles every 20 years
Labor force: over 1 million
High Educational Attainment
Within a 100 mile radius of Austin
415K students
Cedar Park
San Marcos
Round Rock
5 counties
16 communities
The Austin Regional Partnership
Best performing economy and entrepreneurial hotspot in the US.
Projected Population Growth
Actual Population Growth
Austin MSA
Source: U.S. Bureau of the Census & Texas’ Office of State Demographer.
Source: Bureau of the Census.
Innovation drives the Austin regional economy.
Austin = innovation
Austin's creative class:
very young, high tech, and extremely well educated work force.

Austin offers a highly creative class mixed
with a leading technology and innovative spirit.
Creativity. Innovation. Thought Leaders.
high tech companies
of all jobs
of all companies
Major Employers and Tech Companies
Recent Announcements
Relocations & Expansions
So, why Austin?
The Perfect Mix
- Young, high tech, and extremely well educated workforce.

- Leading universities & colleges. UT, St. Edward's, Concordia, Texas State, and Southwestern. Over 410,725 students within 100 miles.

- Conveniently located in Central Time Zone and Texas Triangle.

Business Climate & Cost of Living
- No corporate or state income taxes, providing a clear cost advantage. Austin offers this perfect mix with a relatively low cost of living, ranking at 92.8% of the national average.

Quality of Life
- An unparalleled quality of life.
Friendly Business Cost Environment
Higher Education
The University of Texas
Flagship university in Texas
One of the largest universities
in the country
Other universities:
Texas State University

St. Edward's University

Concordia University Texas

Southwestern University

Austin Community College

Texas A&M University

The University of Texas -
San Antonio

Huston-Tillotson University
students within 100 miles
population holds a
bachelors degree or higher
Austin Venture Capital Landscape
In 2014 Austin captured 62% of Texas Venture Capital Dollars.
Austin is quickly re-establishing itself as an alternative destination for venture capital, recently named as one of the top venture capital investment hotspots in the country, with CBInsights cataloging over 872 regional Austin startups

Austin was the last metro to go into the recession and the first to bounce back.
Central Texas Home Comparison
Average Home Price (2014) | 2-Bedroom, 2-Full Bath Homes
Brooklyn, NY
San Francisco
San Jose
Los Angeles
Quality of Life in Central Texas
Unparalleled outdoor recreation, culture, music, sports, golf, shopping
Miles of cycling and running trails, rock climbing, river rafting, and kayaking
300 days of sunshine
Quality of Life in Central Texas
Best golf courses in Texas
Museums and festivals throughout the year
Live Music Capital of the World - Over 300 live music venues
UT Football, Austin Toros Basketball (Spurs), Cedar Park Stars,
Round Rock Express Baseball (Rangers), Formula 1 Racing, ESPN X Games
Formula 1 Circuit of the Americas
Austin will host the US Grand Prix 2011-2021.
One of the world's most prestigious sporting events.
"Austin has earned a reputation as one of the it cities in the United States.
It features that rare combination of ideal geographic location and beauty.

Its fine dining, world-renowned hospitality, and excellent
transportation infrastructure make Austin ideally suited.

Few cities, if any, could rival the connectivity of all these key
elements needed for hosting a Formula 1 event as well as Austin."
Tavo Hellmund
Chairman, Formula 1 USA
Michele Skelding
SVP, Global Technology and Innovation mskelding@austinchamber.com
A premier quality of life.
There's never a dull moment in Austin, Texas.
The Austin Tech Trend
Places of Origin
January 2004 - May 2013
Dallas: 195mi, 3 hrs
Houston: 165mi, 2.5 hrs
San Antonio: 80mi, 1 hr 20 min
Austin is the digital Capital of Texas
Austin is the top large city for young entrepreneurs
Entrepreneurial Roots
Austin is rapidly attracting accelerators, incubators and an increasing number of top new companies and experienced entrepreneurs.

The bottom line...
the potential for innovation, entrepreneurship and economic prosperity in Austin is more desirable than ever before.

Austin has progressed as an internationally recognized hotbed of innovation.
Austin’s Medical School and Innovation Zone
$50 million commitment to establish the Dell Medical School at The University of Texas at Austin

“Innovate Austin” will focus on supporting Austin’s Medical School and Innovation Zone as the best in class and one of the pinnacles of our innovation ecosystem

Overall related economic activity is anticipated to be over a $2 Billion annual economic impact with the addition of over 15,400 - 20,000 new, permanent jobs for Central Texas.
regional payroll
Source: Texas Workforce Commission,
Avg. Q1-Q3 2014
Source: U.S. Bureau of the Census, American Community Survey
Sectors Invested in Austin 2014
Texas represents 2.5% of the $47.3B VC Dollars in the U.S.
Source: U.S. National Center for Education Statistics.
Fall 2013 Enrollments
Currently 41 investment firms in the Austin area consisting of Angel Groups, VC Firms, Family Office, Incubators, Accelerators and PE Firms
Austin - Round Rock - San Marcos MSA
Dec 14, 2013 to Jan 13, 2014
Top 10 Most Advertised Job Openings
Source: The Conference Board Help Wanted OnLine ® (HWOL)

Austin Investment Firms Funding Activity
Actively Investing in the last 24 months
United States

Sectors Invested Silicon Valley in 2013
Innovation Ecosystem

Historical Austin
Future Skyline
41.5% population with Bachelor's Degree or higher
Courtesy of Aquila Commercial
Courtesy of CBRE
As of Dec. 2013
Full transcript