Which U.S. States Are the Most Entrepreneurial?

January 4, 2011

Jason Mendelson Session At TechStars
Image by Andrew-Hyde via Flickr
Which U.S. States Are the Most Entrepreneurial?

formsds.jpgThe website FormDs.com has posted a very interesting map with a breakdown of investment dollars over the course of the past year. The map caught the eye of Boulder-based venture capitalist Jason Mendelson – not surprisingly, as the map points to Colorado as one of the most entrepreneurial states.

FormDs.com bases its findings on the filings, as the name suggests, Form D, an SEC requirement when startups and other privately-held companies raise venture capital. By tracking these filings, the site is able to get a decent glimpse into not just to whom but to where the money is headed.

According to FormDs.com‘s findings, Massachusetts leads the pack with 100 fundraisings per million people, but Colorado comes in a close second with 95 fundraisings per million people.


It’s worth noting that this figures isn’t investment dollars per capita. When looking at those figures, Massachusetts still leads the other states at $418 per person. California comes in second at $312 per person. But Colorado is third, with $209 per person.

It’s also worth noting that these figures cover all investment, not just the tech sector, and Colorado continues to do well in the energy sector (less so in the NFL).

Nevertheless, New York entrepreneurs – please defend your state (or not) in the comments.

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