Study: Connecticut Still Ranks Average In Startup Growth

Connecticut has made progress in helping startups grow in the past few years, but compared to other states, it still sits among the middle of the pack.

A new study by The Kauffman Index of Growth Entrepreneurshipshows that Connecticut ranked 13th a four-spot jump from the previous ranking among the 25 smaller states in average growth for young businesses and startups. Reedy, a Kauffman senior fellow.

A separate Kauffman Index study ranked Connecticut 35th out of all 50 states in startup activity in 2015, focusing on new business creation activity and people engaging in business startup activity. He cited the state’s proximity to Boston and New York City, and services such as reSET, as one of the factors in his move.

But to climb the ranks in startup growth, Lazar said he recommends the state develop incentives, such as establishing “entrepreneur zones.” He also pointed to Connecticut Innovations, formed by the state legislature in 1989 to help finance Connecticut tech companies and support their growth.

James Woulfe, reSET’s director of advocacy and external affairs, said the state could increase its ranking by taking on an identity, such as becoming the state for social entrepreneurship.




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