We’ve written in the past that it’s wise to be wary about a good many of these ‘top 10’ or ’50 best’ lists that come out regularly, charting everything from the most attractive places to retire to the ‘most unsafe’ cities in the country.
It’s always best to take them with a grain of salt.
But sometimes, these lists can provide food for thought, and that is certainly the case when it comes to Springfield finding a home — let’s hope it’s a permanent home — on Inc. magazine’s list of the 50 Best U.S. Cities for Starting a Business in 2020, or its ‘Surge Cities Index.’
The City of Homes is right there at No. 46, one spot behind Houston, one ahead of Tulsa, Okla., and 45 behind Austin, Texas. Beyond that general ranking, there are other measures, and Springfield, according to Inc., ranks 14th in wage growth, 22nd in early-stage funding deals, and 28th in net business creation.
These lists are incredibly subjective and wholly unscientific, and no one can really say if Springfield is the 46th-best place to start a business or the 43rd, or the 52nd. But what’s more important than the number is what Inc. had to say about the city and what’s really behind that ranking.
Let’s start with the headline. “In the Pioneer Valley, founders are made, not imported.” That’s an accurate description of what’s going on in this region — businesses get started here and, hopefully, grow here — and a very telling one. Indeed, Western Mass. is trying to grow its base of businesses organically, primarily out of necessity.
Here’s what Inc. had to say:
“This Pioneer Valley city benefits from its proximity to the Berthiaume Center for Entrepreneurship at UMass Amherst, which serves as an incubator for startup talent. Founders in this Massachusetts town can develop further with Valley Venture Mentors, a grant-fund mentorship organization, and innovation center TechSpring. The latter organization focuses primarily on latter-stage startups in healthcare, while the former has helped more than 300 startups since its founding in 2011. ‘We don’t have a bias toward high tech. We have a bias toward the people who live here,’ says Valley Venture Mentors CEO Kristin Leutz. ‘[People here] see anyone as a potential high-growth entrepreneur.’”
Slicing through this commentary, it is now evident that Greater Springfield’s entrepreneurship ecosystem is not only gaining some momentum, it is gaining some attention. We’re quite sure the region was already on the proverbial map when it comes to startups and innovation, and this ranking provides still more evidence.
Such an ecosystem involves a lot of moving parts — incubators, mentorship groups, colleges and universities with entrepreneurship programs, angel investors, venture-capital groups, and more — and they have to work in unison to create startups, nurture them, get them to the next stage, and, hopefully, keep them in this region.
Springfield has a long way to go before it has a startup environment like Austin, Salt Lake City, Durham, N.C., Denver, and Boise, Idaho — the top five cities on Inc.’s list — but it’s making its presence known, both to the editors at Inc. and hopefully with people looking to launch a business.
Like we said at the top, one has to be careful not to read too much into these ‘best-of’ lists. But we can read something from this one — that all those efforts to encourage and mentor entrepreneurs in this region are starting to pay off. v