WEDC’s 2021 Entrepreneurship and Innovation Report on Program Activity is now available. The report, which summarizes a combination of data for the fiscal year ended June 30, 2021, and the calendar year ended Dec. 31, 2021, shows increases in funding, revenue and employment compared to the prior year.
Analyzing reports from 814 companies that had received support from WEDC’s entrepreneurship and innovation programs in the past three years, the report found that these companies’ new financing and revenue totaled $1.25 billion, a 41% increase over the prior year. Jobs were up, too, with 6,772 full- and part-time jobs at these companies, and payroll exceeding $204 million (increases of 52% and 25%, respectively). While the more mature tech startups drove a significant portion of these increases, smaller companies also reported improved access to capital and business impacts.