A summer of spreadsheets, research startups, and controversial data may not sound like “school is off”, but this is exactly what four high school students have experienced in the past few months when analyzing GeekWire 200. This is GeekWire since then The Pacific Northwest Startups Ranking Index has been maintained since 2012.
Students are paired with the Dean of UW Bothell Business School Sandip Krishnamurti pass through spark, A non-profit organization in the Seattle area whose mission is to connect high school students with internship opportunities for companies, educational institutions, and industry experts.
Sonali Waid Hope to gain insights to expand her limited liability company and achieve her entrepreneurial goals. Kevin DuCalifornia residents are interested in exploring the entrepreneurial ecosystem in different regions. Raksha Zun Nuru Want to work with a team that brings different perspectives to business-related projects.with Ben Epstein Prepare to apply his interest in data science to companies that discover which factors contribute to success.
The group meets weekly on Zoom and uses the GeekWire 200 ranking updated in April, as well as the list of past years and other public data, to conduct research on the top startups in the Pacific Northwest.
Why did Krishnamurthy choose this project for his intern?
“High school students start data analysis and research with a whole new perspective,” he said. “They can provide unique insights and move things in different directions.”
The GeekWire 200 ranking comes from our broader list of more than 1,300 technology startups headquartered in Washington, Oregon and Idaho, and British Columbia. It is generated using a weighted algorithm that takes into account social media attention, approximation Number of employees (via LinkedIn) and inbound network links.
GeekWire 200 aims to showcase the startup ecosystem in the region and help identify fast-growing companies.
The following is some summary of GeekWire 200 from the Krishnamurthy team:
Low gender diversity
The study found:
- Of the top 200 startups, only 7 (or 3.5%) were founded entirely by women.
- Among the seven startups, one is in the top 50, two are between 50 and 100, and four are in the second half of the list.
- 28 startups (or 14%) have at least one woman on the founding team. 172 (or 86%) of the top 200 startups have no female leaders.
This data surprised all students. They previously estimated that 30% of the startups on the list were founded by women.
“As a woman who hopes to enter the entrepreneurial environment in the future, I hope I can find more female CEOs and founder representatives in the industry,” Zunnuru said.
“This statistic is disappointing,” Vader added. “I sincerely hope that the PNW innovation ecosystem can improve its gender diversity in the coming years.”
brochure It was recently reported that all the female founding teams raised less than 2% of all venture capital funds in the first half of 2021. Companies with at least one female founder account for 16%.
The vast majority of founders are well-educated
The study found:
- 388 of the 429 founders have an undergraduate degree—about 90%.
- 42% of the founders have a graduate degree, and 15% of the founders have an MBA degree.
- There is no obvious correlation between education level and entrepreneurial ranking.
These findings changed Do’s point of view: “I initially thought that the founders of the top-ranked startups in the top 200 list are more educated than the bottom-ranked founders,” he said.
“As an educator, I am also impressed by the level of education of start-up leaders,” Krishnamurti points out. “The claims about dropping out of college to start companies are largely exaggerated and cover outlier narratives. Most startups are led by well-educated people.”
The higher the ranking of the startup, the higher the investment
The study found:
- Among the top 25 startups in the data set, the average financing amount is approximately US$272 million.
- The average financing amount for startups ranked 26 to 50 is approximately $95 million.
- The ranking in a group of 25 declined, and the average funding continued to decline. Companies ranked 176 to 200 have an average capital of approximately $24 million.
This finding is consistent with how the number of employees affects the GeekWire 200 rankings. Companies raising venture capital often increase their workforce.
The “amazing” amount of funding that topped the list left a deep impression on the students.
“These findings helped me realize that startups in the region can easily obtain venture capital, and now I am more confident in pursuing my entrepreneurial goals at PNW,” Vaid said.
Epstein also pointed out the impact of venture capital. He said: “Seeing the prominent position of technology companies and the importance of funding, I particularly understand what kind of organization is at the forefront of the ecosystem.”
Entrepreneurs of the future?
The students participating in the research enter the project with an interest in business and innovation. Now, after delving into the data, we asked how each of them’s experiences affected their perceptions of the Pacific Northwest’s innovation system and their future goals.
invalid: “My impression is that most of the innovations of startups took place in Silicon Valley, while PNW only has large multinational companies such as Amazon and Microsoft. However, after analyzing the GeekWire 200 list, I learned that we have a strong The entrepreneurial ecosystem covers all fields and provides breakthrough innovations.”
Do: “Participating in this research shows me that the PNW startup ecosystem is very strong, healthy and diverse. In the future, I hope to build a successful startup company that will contribute to the innovation ecosystem where I live.”
Zunuru: “This experience exposed me to other rapidly developing areas in the PNW innovation ecosystem, such as technology and aerospace, and significantly changed my goals.”
Epstein: “This project just increased my desire to participate in data science or business fields because it allowed me to gain new knowledge and see my work make a difference.
See the full report, methodology, and other key points of the team below.