The Kauffman Foundation released its latest Startup Index, which calculates the rate of new entrepreneurs emerging per month nationwide, density of startups in particular areas and percentages of entrepreneurs opening new businesses out of desire, rather than necessity. The rate of entrepreneurship nationwide increased to 330 out of 100,000 adults starting new businesses each month. That’s up from 310 in 2015. The report also found that the vast majority of entrepreneurs are pursuing their dreams because they want to, not because they’re forced due to unemployment. The proportion of new business owners motivated by “opportunity,” rather than “necessity,” rose to 84 percent in 2015, more than 10 percentage points higher than it was during the recession in 2009.
Below are additional top stories from the Boston ecosystem:
Medium acquired Boston-based startup Embedly, an API platform that allows users to embed any kind of media into their websites. Embedly is used by big-name websites like The New York Times, NPR, Microsoft and MSNBC. Edward Lichty, Medium's head of partnerships, wrote in a Medium post, "We’ve been working with Embedly for years and have been continually impressed with their engineers and product.” Four of Embedly's 10 employees will relocate to Medium's San Francisco headquarters as part of the acquisition while the remaining employees will maintain a Boston presence and continue working on the platform, according to VentureBeat.
Massachusetts’s lawmakers ended their legislative session on Sunday without passing the noncompete reform. The unsuccessful passage resulted in rage and disappointment from Boston’s tech and startup leaders. "(It's) politics as usual, politicians being bought off by big business in Massachusetts instead of helping innovation keep up with California and New York, where noncompetes are illegal," said Boston entrepreneur and tech veteran Paul English, the co-founder of Kayak.com and a new travel startup called Lola. "I will now donate and raise funds to have those Mass. politicians lose their jobs with the next elections," he continued in an email to the BBJ.
The alcohol delivery service raised a $15 million Series B round led by Polaris Partners with participation from existing investors, which will be used for marketing to fight Amazon and stay on top of other competitors entering the market. The company is expected to reach profitability in 2017.
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