ANN ARBOR – The 2021 Ann Arbor Entrepreneurial Ecosystem Report is a comprehensive analysis of the startup community in Washtenaw County. The region, which is consistently ranked among the best places in which to live and work in the country, has built a strong foundation of talent, research, and capital that supports nearly half of all startup companies in Michigan.
This foundation is largely characterized by a collaborative community, and these meaningful connections have stabilized the economy during a remarkably difficult time. The findings from the report revealed a record-breaking year of venture capital investment in startup companies, with 43 startup companies in Washtenaw County attracting more than $215 million from venture capital firms.
Key Findings from the Report:
69 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.
46% of the startup companies in Michigan are located in the Ann Arbor area.
There are 69 venture-backed startups in Washtenaw County, a 64% increase in the number of startup companies over the last seven years.
The Impact of COVID-19 on the Small Business Community in Washtenaw County
The 2021 Ann Arbor Entrepreneurial Ecosystem Report features an analysis of the overall impact of COVID-19 on the small business community in Washtenaw County. The analysis includes 500 local businesses, including startup companies, with less than 25 employees. The findings from the analysis show:
- 48 percent of businesses in Washtenaw County are currently hiring.
- 66 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.
- 49 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.
