The last 12 months saw record-breaking venture capital investment in startup companies, with 43 startup companies in Washtenaw County attracting more than $215 million from venture capital firms, according to EntryPoint, a nonprofit research institution, in its 2021 Ann Arbor Entrepreneurial Ecosystem Report.
“Ann Arbor’s density of talent, research, capital, and community greatly contribute to the region’s ability to build a strong and resilient high-tech entrepreneurial ecosystem,” says Emily Heintz, founder and managing director of EntryPoint. “Startups such as Censys, Mi Padrino, and SkySpecs successfully navigated the challenges of the past year while attracting record-breaking amounts of venture capital investment, paving the way for continued growth and success.”
Key Findings from the report include:
- Sixty-nine active venture-backed startup companies in Washtenaw County have raised over $1 billion in venture capital funding.
- In the last year, 43 startup companies in the Ann Arbor area attracted more than $215 million from venture capital firms, a record for the region.
- Forty-six percent of the startup companies in Michigan are located in the Ann Arbor area.
- There are 69 venture-backed startups in Washtenaw County, a 64 percent increase in the number of startup companies over the last seven years.
The report features an analysis of the overall impact of COVID-19 on 500 small businesses in Washtenaw County. It shows:
- Forty-eight percent of businesses in Washtenaw County are currently hiring.
- Sixty-six percent of business owners say the best way for residents to support small businesses in the region is to spread the word about companies they like.
- Forty-nine percent of business owners in Washtenaw County say the best way for policymakers and economic development organizations to support companies is to provide marketing support.
To view the complete 2021 Ann Arbor Entrepreneurial Ecosystem Report, visit here.