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Karis: Chicago took a slight dip in a national ranking of startup activity.

On the just-released Kauffman Index, an annual measure of entrepreneurial output, such as new companies, business density and growth rates, the Chicago metropolitan area came in at #31, a one-spot drop from it’s #30 ranking last year.

Jim:  Here’s a look at where it stacks up according to Kauffman’s metrics:

  • Rate of new entrepreneurs (the percentage of adults transitioning into entrepreneurship at a given point in time): .22%
  • Opportunity share of new entrepreneurs (The percentage of new entrepreneurs driven primarily by “opportunity” vs. “necessity” ): 80.40%.
  • Startup density (the number of startup firms per 1,000 firm population): 74.7.

Karis: Chicago’s slight dip may be less an indication of a startup slowdown in the city, and moreso that other cities are starting up at a faster rate. Established entrepreneurship centers already have a density established and may not have as many new people jumping into entrepreneurship (because they’re already working in the ecosystem).

Miami, Austin and LA took the top three spots, while St. Louis, Cleveland, and San Antonio all rose significantly the rankings. San Francisco came in at #14, San Jose at #16, and Boston at #21.

The good news is overall startup activity is on the uptick. In 2013 the Startup Activity Index was at its lowest point in the last twenty years. But it has gone up the last three years in a row, nearing the peak it hit before the recession.

Karis: Chicago high school senior and GliaLab cofounder Abu Qader got a huge shout out at Google’s I/O developer conference this week.

Google produced a 3 minute video about his startup, which uses machine learning to improve breast cancer diagnosis, and his work was tweeted out by Alphabet executive chairman Eric Schmidt and Google CEO Sundar Pichai. [More here]

Jim: You can now order McDonald’s delivery at over 1,000 locations nationwide via UberEats. The company announced it is expanding the program, which it initially piloted in Florida, to 300 locations in LA, 144 in Phoenix, 270 in Chicago, and 59 in Columbus, according to the Tribune.

Karis: Fast casual Vietnamese food restaurant startup Viet Nom Nom, founded by Northwestern Kellogg alum Noah Bleicher, just launched a Kickstarter, aiming to raise $20,000 to launch their first brick-and-mortar location in downtown Evanston.

Today you can attend The Muster, the Bunker’s 3rd annual conference for veteran entrepreneurs, or get fancy at the Science in the City Annual Gala 2017.

Take a peek at our Chicago Inno Approved events post for all the events you can hit up in May.

Feed the Beat and tell your colleagues about the newsletter. (It’s more fun with friends).

NEW MONEY

Karis: Arroweye Solutions has raised $10M in equity funding, according to a Form D filing. Arroweye is a card marketing and production firm that allows customers to customize credit and debit cards.

Jim: Charlie App has raised 2.9M in equity funding, according to a Form D filing. Charlie App is a meeting preparedness tool that automatically sends you a one?pager on everyone you’re going to meet with before you see them.

Karis: And Upfront Healthcare Services, a data science startup that helps health systems optimize patient visits, raised $4.4M, according to a Form D filing.

Karis: A startup in New York City is attempting to launch a subscription service for tap water. I think at one point this was called taxes, but according to the sorry state of drinking fountains and tap water across our country, I guess it’s onto tech’s savior disruptors to keep us hydrated.

Jim: I’m not one to really buy into tech bubble talk. But then I see startups that are trying to sell me tap water….

Karis: Or as they would say in Wisconsin, we’re in a tech bubbler.

Karis: In less nefarious news around the secret dealings of world leaders, apparently the Dutch King Willem-Alexander has been a part-time copilot for Dutch airline KLM for the last 20 years. Would really love a low stakes, harmless secret like this to come out about American political leaders right about now.

Jim: This is already happening here. Didn’t you know Trump is working as a part-time amateur golfer?! Zing! Politics!

From Jim’s story on Painting To Gogh, the startup bringing paint and sip classes to your living room:

“It is an expanding market, but there isn’t anyone else that does what we do in terms of an acrylic painting experience that’s delivered to your home.”

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Will@chicagoinno.com, Karis@chicagoinno.com, Jim@chicagoinno.com 

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