Dallas-Fort Worth ranks among top entrepreneurship environments in US – Dallas Business Journal – Dallas Business Journal

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North Texans know how to get companies started.
In a study that examines drivers behind entrepreneurship, the Dallas area tied for No. 1 in a couple of key areas, putting it with metros that include San Francisco and New York. Austin also ranked high.
The research looked at factors that include psychological profiles in helping figure out just what makes one city better than another in getting businesses successfully started.
“What we show in the paper is that it’s all about the people — the people in Dallas, people in Austin, and people in every city,” said David Audretsch, distinguished professor of economic development at Indiana University, in a message. “In particular, the residents and workers in Dallas and Austin are particularly open to new ideas as well as come from diverse backgrounds. This is a key asset driving innovation and entrepreneurship.”
North Texas tied for No. 1 with the metro areas of San Francisco, New York, Los Angeles and Miami for what’s called “quantity entrepreneurship,” which Audretsch said refers to the number of startups. Austin scored just behind those other metros.
The Dallas area and Austin tied for No. 1, along with the same metros, for “quality entrepreneurship.” That refers to startups that are keen to be innovative and have high-growth potential.
While cities may seem similar in some ways, in key areas there can be significant differences.
A “measure is the psychology of the people (and) out of that comes the culture of the place,” Audretsch said in an interview. “So what does that translate to? Openness, means, among other things, the willingness to fail … but also the willingness not to condemn people for things that they try and don’t work.”
Along with Audretsch, other co-authors of “Entrepreneurship in Cities” include Sam Tavassoli at RMIT University in Melbourne, Australia, and Martin Obschonka at Queensland University of Technology in Australia.
“What we are … doing is measuring the psychology of the individuals, and then we’re aggregating it up to the cities,” he said.
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