HeyKerr joined a chorus of area officials and investment leaders singing the praises of a region on the rise Tuesday during a Midwest-focused business interest conference in downtown Kansas City.
“I hope you get involved with the city and see some of the amazing things happening here locally,” co-founder and event partner at Flyover Capital he said about 250 Mid x Midwest participants — many of them visitors from venture capital firms across the Midwest and both coasts.
Excitement for and about Kansas City — and how far the city has come — echoed throughout the summit, which brought together more than 70 venture capital firms and more than 60 early-stage KC-area B2B software company founders, among others attendees.
Maggie Kenefake, Iron Prairie Ventures, and Brian Scharf, Ewing Marion Kauffman Foundation, share a fireside chat on stage at Mid x Midwest. photo by Taylor Wilmore, Startland News
Kansas City's investment scene has evolved significantly over the past 15 years, said Brian Scharf, CEO of Ewing Marion Kauffman Foundationnoting that people like him have moved away from the coasts, thanks in part to infrastructure investment meant to draw more people out of the city.
“There are good investors across the landscape in Kansas City that are looking for either startups or seed funds that are more open to conversation,” he explained in a conversation with Maggie Kennefeik, general partner at Iron Prairie Ventures, and one of the co-founders and core organizers of Mid x Midwest. “There are more capital pools today than there were 15 to 20 years ago. You see companies that have been sold and spun off or have family offices or have other entities or companies that invest more in startup situations. All these things I think help the city to grow.”
When she left a role at the Kauffman Foundation in 2007, Kenefake shared, there wasn't a single venture capital firm in town.
“Now our best-known companies have funds three and four,” he added. “There are a lot of emerging managers and you see people leaving their first business that they exited and starting their second startup. But it is still early for our region.”
Chris Simpson, Polsinelli, leads a panel discussion with Jody Brazil, FireMon, and Daniel Kennedy, BioNexus KC, at Mid x Midwest. photo by Taylor Wilmore, Startland News
Kansas City's cybersecurity and biotech tech landscape is clearly emerging, said Jody Brazil, CEO of FireMonand Daniel Kennedy, its vice president BioNexus KCin an Innovation Pathways panel moderated by Chris Simpson, partner at Polsinelli.
Brazile — who was previously Fishnet Security's CTO — said Kansas City is a great place to grow a cybersecurity company.
“We have companies from Israel and Silicon Valley that have opened major hubs here in Kansas City because of the talent pool that exists and it's largely from those early-stage companies through the late 90s (like Fishnet). He's just reinventing himself,” he explained. “They are, of course, great, smart people, but there's also an element of experience in the industry that then builds and allows this cyber security industry to thrive within the city.”
Daniel Kennedy, BioNexus KC, speaks during a Mid x Midwest panel discussion. photo by Taylor Wilmore, Startland News
In biotech, Kansas City recently celebrated being designated as one of 31 US Tech Hubs — an achievement through which BioNexus played a key role.
“While I was on vacation last week, we found out we got it, which was really hard not to pick up my phone every minute,” Kennedy said. “Not only did we get the award, but we actually bypassed strategic development, which is an interesting stamp of approval.”
“But it also means we didn't get funds from the EDA [U.S. Department of Commerce’s Economic Development Administration, which administers the program] to help develop the next stage of the application,” he added. “And the next step of implementation is supposed to help drive economic growth, technological development, workforce education and infrastructure.”
RELATED: KC Officially Earns 'Tech Hub' Title, Opening Door to Huge Federal Funding
An audience of investors, startup founders, ecosystem builders and champions listen to KCMO Mayor Quinton Lucas as he addresses the Mid x Midwest. photo by Nikki Overfelt Chifalu
During a welcome speech, KCMO Mayor Quinton Lucas also praised the Tech Hub's achievement and what it means to the city.
“Maybe you all graduated in the top 10 percent of your class,” he said, reiterating that KC was one of 31 chosen from more than 300 applications. “But for those who haven't, it's really hard to do. We did it. And Kansas City is in an incredible position — not only to potentially have $75 million in federal investment — but to have multiples of that kind of investment here as we look to the future of Kansas City, not just in tech manufacturing and biomanufacturing.”
It's an exciting and exciting time in Kansas City, continued Lucas, who also mentioned the city's new airport terminal, the expansion of the KC Streetcar line and the recent Emerging Cooperation Agreement with the Ministry of Transport.
“Cities that grow and are dynamic are those that are known as creative and cultural crossroads for investment, for people,” he added, “And more than anything else [they’re known as places] where ideas could get support, not only from those who are also interested in these fields, but also from investors. So thank you, Mid x Midwest, for bringing it all together.”
RELATED: Aren't You Excited About These 3 Downtown KC Projects? “You need to check your pulse”
Check out a short photo gallery below by Taylor Wilmore and Nikki Overfelt Chifalu, Startland News.
