In 2014 Publitics partnered with New Jersey nonprofit, LaunchNJ, to take the pulse of New Jersey's entrepreneurial and startup community on a variety of issues that are critical to building and maintaining a vibrant entrepreneurial and startup ecosystem. We are now in the second year of the survey and are proud to announce that 2015's results are now out.
Here are some key takeaways:
- Access to capital and talent along with support from local and state government are still the top concerns for the NJ startup and entrepreneurial community
- New Jersey's startup/entrepreneurial ecosystem has yet to develop a strong brand. 42% of respondents feel that New Jersey’s ecosystem is made up of a collection of smaller hubs based around cities or towns. Almost a third of the respondents (29%) reported that they feel that state’s ecosystem is an extension of the larger hubs in New York City and Philadelphia, while about a quarter (26%) believe it is organized around larger geographic regions like North, Central, and South Jersey
- Despite a slight decline from last year, members of the startup and entrepreneurial community still view New Jersey as a favorable place start or grow a venture (new question in 2015)
- There was a notable change in the way members of the New Jersey entrepreneurial and startup community were feeling about the direction of the ecosystem in 2015. Just over half of respondents (57%) to the 2015 survey felt that the ecosystem was headed in the right direction, which is down from 72% the previous year. Those who reported that the ecosystem is heading in the wrong direction dropped by almost half from last year to roughly 9%, with a very significant jump in those who are uncertain about the direction of the ecosystem (35%), which is up almost four times from 2014