Startups In Dallas
Dallas is growing fast. According to The Common Desk blog, Dallas is the fourth most populous metropolitan area in the United States, and it’s ranked number one in year-over-year population growth. Also of note, North Texas as a whole is in the Top 10 regions in the U.S. for startup companies.
Austin startup hub Capital Factory is opening a Dallas location in May of this year. To date Austin has been the most popular location for startups in the state. However, the founder and CEO of Capital Factory, Joshua Baer, is looking to branch out to other Texas cities in hopes of encouraging the state’s startup success. Capital Factory started in 2009 and funds early-stage startups. It’s become one of the most active investors in Texas. Baer says, “In some ways, it’s the biggest opportunity because as much as there’s a lot of great things in Dallas with the startup community, it’s not nearly as good as it could be.” Baer said Dallas has the ingredients it needs to thrive, such as plenty of wealthy people who could invest in startups and Fortune 500 companies that could be their initial customers, but it has struggled to connect the dots. “Really, Dallas should be bigger than Austin,” he said.
So what are the startup industries that could help make Dallas bigger than Austin? After reading through many profiles of startups to watch in 2018, it seems there are some main industries trending. Following are the most popular industries and some of the startups to watch:
- SaaS: CataBoom, NectarOM, StackPath
- Healthcare: Lantern Pharma, Take Command Health
- Marketing/Branding: White Pants Agency, Connective Agency
- Logistics apps: Traxo, ParkHub, GruupMeet, Booster, PICKUP
- Gifting (sock subscriptions, gift boxes): DeadSoxy, VelvetCrate
- Social networks: Glass Heel, Artist Uprising
To support the growing startup community in Dallas, there’s Dallas Startup Week (April 2-6, 2018). This is a 5-day event aimed at connecting those in the local startup community. The goal is to provide education and networking for entrepreneurs, freelancers and small business owners to help them to achieve their business goals. The Startup Week website provides some impressive Dallas statistics. Dallas is home to 18 Fortune 500 company headquarters and has the 6th largest concentration of high tech workers in the U.S. It is the 5th largest metro area for self-employment in the U.S., and the number one ranked state to do business in, according to the CEO Magazine business climate index.
If you are at Dallas Startup Week, come chat with me! I’d love to get to know you and hear more about your startup business.
by Susan Heidenreich, Accountant, Lance CPA Group