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Austin - Rebel One - Startup Ecosystem Snapshot

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Rebel One is an investor network and fund focused on backing rebel founders. Rebel founders are located everywhere, not just the coasts of the U.S. where a bulk of the capital in venture is allocated. We are sharing ecosystem research for our investor network to help them find the best rebel founders.

This is a high level analysis of the Austin startup ecosystem for those investors.

Publié dans : Business
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Austin - Rebel One - Startup Ecosystem Snapshot

  1. 1. Rebel One Ventures Startup Ecosystem Analysis Austin, TX By Sergio Marrero (GP), Vrat Joshi (Analyst) 1 RBL1.COM
  2. 2. A Bird’s Eye View City Snapshot 2 Population | 980K (2.3M Metro) Unemployment | 12.2% (2020) (~3.5% historically | 2019) GDP | $146.8B Education System 27 Colleges, 180K+ Students Top Programs: Red McCombs Business | UT University of Texas at Austin St. Edwards University Acton School of Business Huston-Tillotson University Austin, TX Sources: Austin Chamber of Commerce (Economic Development) (Education Overview), US Bureau of Labor Statistics RBL1.COM
  3. 3. Looking into the Investment Space Funding Options 3 Angels / Angel Groups:  David Cohen, Joshua Baer, Arun Prakash, Asad Zafar, Jared Solsberg, Andrew Busey, Cameron Drummund, Rob Taylor, Mellie Price, Michael Dell, Robert Smith, Central Texas Angel Network, Southwest Angel Network Venture Capital:  Blue Sage Capital, LiveOak Venture Partners, Silverton Partners, Elsewhere Partners, S3 Ventures, Quake Capital, Moonshots Capital, Vista Equity Partners (PE), Sante Ventures, Next Coast Ventures, Ecliptic Capital, Notley Ventures Accelerators / Incubators:  Accelerate at Capital Factory, Techstars, Sputnik ATX, SKU, International Accelerator, Bunker Labs, Texas Venture Labs, Give Inc., Venture Fellows, DivInc. Austin, TX Sources: Founder Institute RBL1.COM
  4. 4. Ecosystem Observations:  » Austin is a HQ for the US Army Futures Command and center for accelerating defense innovation investments in startup technologies » Increased movement of Tech growth (Amazon, Apple, Tesla, Facebook, and Google) » Deal numbers less than Chicago, but overall investments were more » One of the fastest growing metropolitan areas (by economy and population) The Macroeconomics of the VC System Venture Capital Ecosystem 4 Funding Statistics VC Investment: $2.2B, 263 deals (top10) U.S. Deal Share: ~1.61% VC Investment per Capita: $2,244 Top Investment Sectors: Software (Cybersecurity, AI), FireTech (Finance, Insurance, Real Estate), Cleantech, Defense, Consumer Products, Enterprise SaaS Sources: AmericanInno (Pitchbook-NVCA Venture Monitor), Bloomberg CityLab, Austin Chamber of Commerce Austin, TX RBL1.COM
  5. 5. Founder Resources to Gain Knowledge Other Resources 5 Meetups:  SXSW Conference, Austin Diversity in Tech, Austin Hardware Startup, Female Founders ATX, Hackernest, ReThink, AUTM Co-Working Spaces:  Capital Factory, Impact Hub Austin, Createscape, Incubator CTX, Fibercove, Industrious, Vessel Coworking, WeWork, Common Desk Startup Media Channels:  Built in Austin, Austin Startups, AustinInno, SEO’Brian, Startup Digest Austin Austin, TX Sources: Founder Institute RBL1.COM
  6. 6. Who Dominates the Austin Economy? Current Leaders & Rising Players 6 Largest Companies (Market Cap)*: Activision Blizzard, Amazon, AMD, Apple, Charles Schwab, Dell, Facebook, Indeed, National Instruments, Silicon Labs, Vrbo, Whole Foods, Yeti *Major corporate HQ or regional offices Notable High-Tech Ventures Started:   Dell (Computer Hardware/Software), Indeed (Media & Information Services), RetailMeNot (Business Discounts), Silicon Labs (Semiconductor), HomeAway (Rental Services), Bumble (Social Media), Anaconda (Database Software), Favor (Food & Personal Delivery), WP Engine (Internet Software) Sources: Austin Chamber of Commerce (HQ’s), Pitchbook Austin, TX RBL1.COM
  7. 7. Top Ranked Startups:  » Athena Security | Security Equipment / Software » ICON Build | Construction & Technology » Diligent Robotics | Healthcare Tech (AI) » RigUp | Workforce Management & Hiring » Hitch | Ride Sharing » Firefly Aerospace | Aerospace & Defense » OJO Labs | Virtual Real Estate » The Zebra | Automotive Insurance » Dropoff | Logistics SaaS and Consumer Products Lead the Way Economic Activity 7 Recent M&A & IPO’s: » Movoto, OJO Labs | Undisclosed » Whole Foods, Amazon | $13.7B » Rivet Networks, Intel | Undisclosed » Opcity, Move | $210M » HomeAway, Expedia | $3.9B » Favor, H-E-B | Undisclosed » Main Street Hub, Go Daddy | $126M » XOXCO, Microsoft | Undisclosed » RetailMeNot, Harland Clarke | $630M » CFA Trading, Global Resale | Undisclosed » Brigham Minerals IPO | $317M (MC) (Acquired, Acquiree | Deal Value ) , Homeaway rebranded to VRBO Austin, TX Sources: Austin Business Journal, Pitchbook, Crunchbase, Mercer Capital
  8. 8. Analyzing the Geographic and Economic Reach Area Insight 8 Insights: » Major venture players are highly concentrated around “Lady Bird Lake” and primarily around downtown Austin, near the University of Texas at Austin » Fastest growing Metropolitan area (economy, population) » Average investments around $11.55M, up 22% over 2018* » Late Stage, Early Stage increasing as opposed to Seed (Series-C most popular) » Largest funding round by a Texas Company (RigUp - Series D ($300M)) - 2019 » Among the most active VCs - Silverton Partners and Ecliptic Capital Venture Capital Accelerator / Incubator Co-Working Austin, TX RBL1.COM Source: Brian Williams, Wayne and Reed, http://wayneandreed.com/; *Austin Chamber of Commerce
  9. 9. Insight from Local Subject Matter Experts Analysis 9 Feedback from locals immersed in the ecosystem: a) There is a live, active entrepreneurial environment focused on impact in Austin, largely driven by the city’s culture and The University of Texas. b) Because Austin is removed from SF and NY, it can be challenging to bring large corporate executives down to the South outside of SXSW, with no other major other startup ecosystem in close proximity. However, more recently, there has been an influx of investors and talent from California coming due to the lower cost of living, weather, and creative community that Austin supports i.e. “Keep Austin Weird.” c) Many groups of investors and founders are fragmented into smaller communities and there is an opportunity for them to work more closely together to elevate the entire Austin ecosystem. d) Due to the young market, there is a limited history of startups becoming public companies, like Dell, with a greater emphasis on being acquired. Austin, TX RBL1.COM
  10. 10. Sources Interviews: Brian Williams https://fi.co/insight/the-guide-to-the-austin-startup-ecosystem-250-resources-for-entrepreneurs https://www.americaninno.com/austin/funding/vc-funding-report-austin-startups-raised-2b-plus-in-2019/?mc_cid=0224df92ba&mc_eid=7507555c4c https://www.austinchamber.com/economic-development https://www.bls.gov/eag/eag.tx_austin_msa.htm https://www.crunchbase.com/hub/austin-startups#section-acquisitions https://mercercapital.com/energyvaluationinsights/brigham-minerals-ipo-brings-spotlight-to-oil-gas-market/ https://www.flaticon.com/ https://news.crunchbase.com/news/austin-reaches-top-10-in-us-venture-markets-with-record-funding-in-2019/ https://www.citylab.com/life/2018/03/the-extreme-geographic-inequality-of-high-tech-venture-capital/552026/ State of the Market Analysis 10 The venture capital ecosystem in Austin is growing rapidly and increasing in presence on the global stage, catalyzed by the annual conference SXSW. With many historic success stories and with new companies like ICON Build making a remarkable name for itself, the city of Austin creates change and makes impact (cleantech) by heavily focusing on cybersecurity, firetech, enterprise SaaS, and consumer products. The city has more recently caught the eyes of venture capital investors, with a higher investment per capita versus other cities driven by the creative economy of Austin. As Austin moves forward, it is important for the city to maintain the advantage in lower cost of living and objectiveness in valuation to maintain its competitive position as the ecosystem matures. Austin, TX RBL1.COM

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