Greater Washington’s identity crisis

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The greater Washington business community is suffering from the story it is telling about itself, that it is in an old-fashioned government town, dependent on federal contracts, and lacking innovation and fresh ideas.

The reality is very different. Over the past six months, I worked with a multidisciplinary team of data scientists, economists and entrepreneurs to critically and objectively describe the state of technology entrepreneurship here for the 2030 Group, a civic and business organization working to plot a new path forward for the region’s economy.

Our findings suggest much more possibility. Since 2004, this area has created more new businesses than have parts of the United States commonly considered entrepreneurial hotbeds. Over the past 20 years, our region has had the largest number of companies on the Inc. 5000 list of the fastest-growing businesses.

This is a place where entrepreneurs, employees and investors are generously rewarded for growing successful businesses. Over the past 20 years, 6,000 businesses have been sold in the region, including 105 deals with sales prices exceeding $1 billion. Business sales create significant wealth in our region for subsequent investment.

This good news is mitigated by the reality that…

Read entire article at WashingtonPost.com.

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