Tulsa is trying to build a startup ecosystem from scratch

Posted by on 10 June, 2020

This post was originally published on this site

When you think about startup hubs, Tulsa, Oklahoma is probably not the first city that comes to mind.

A coalition of business, education, government and philanthropists are working to foster a startup ecosystem in a city that’s better known for its aerospace and energy companies. These community leaders recognized that raising the standard of living for a wide cross-section of citizens required a new generation of companies and jobs — which takes commitment from a broad set of interested parties.

In Tulsa, that effort began with George Kaiser Family Foundation (GKFF), a philanthropic organization, and ended with the creation of Tulsa Innovation Labs (TIL), a partnership between GKFF, Israeli cybersecurity venture capitalists Team8 and several area colleges and local government.

Why Tulsa?

Tulsa is a city of more than 650,000 people, with a median household income of $53,902 and a median house price of $150,500. Glassdoor reports that the average salary for a software engineer in Tulsa is $66,629; in San Francisco, the median home price is over $1.1 million, household income comes in at $112,376 and Glassdoor’s average software engineer salary is $115,822.

Home to several universities and a slew of cultural attractions, the city has a lot to offer. To sweeten the deal, GKFF spun up “Tulsa Remote,” an initiative that offers $10,000 to remote workers who will relocate and make the city their home base. The goal: draw in new, high-tech workers who will help build a more vibrant economy.

Tulsa is the second-largest city in the state of Oklahoma and 47th-most populous city in the United States. Photo Credit: DenisTangneyJr/Getty Images

Local colleges are educating the next generation of workers; Tulsa Innovation Labs is working with the University of Tulsa in partnership with Team8 through the university’s Cyber Fellows program. There are also ongoing discussions with Oklahoma State University-Tulsa and the University of Oklahoma-Tulsa about building a similar relationship.

These constituencies are trying to grow a startup ecosystem from the ground up. It takes a sense of cooperation and hard work and it will probably take some luck, but they are starting with $50 million, announced just this week from GKFF, for startup investments through TIL.

Posted Under: Tech News

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