Startups: Fueling Economic Growth and Recovery

2112 Chicago, home of many startup teams and various incubator programs.

Do you have an idea that you believe has the potential to alter the world? Are you planning on creating a business around this concept and earning millions, if not billions, of dollars? Then you can be a startup founder.

Startups are a critical business model that fuels global innovation and economic progress. They are the embodiment of innovative and aspirational entrepreneurs with incredible ideas. Each year, entrepreneurs generate new sorts of products and services.

“Ideas are easy. Implementation is hard.”

Guy Kawasaki – Chief Evangelist, Canva

According to research, the United States currently has 70,968 startups and is the leading country worldwide. They are followed by India, with 12,849 startups, and the UK, with 6,183 startups.

There is a considerable gap in the number of startups in the United States compared to the rest of the nine following countries. The US has three times more startups.

Along with this rise, there are now what we call startup development organizations (SDOs). SDOs are essential because they help foster today’s startups through their early stages. They also give them resources, mentorship, and a community to increase their chances of success.

So why are startups so important? Startups are responsible for creating jobs. They are the businesses that contribute the most to economic growth. In addition, small companies and startups have always been known for their innovation. They come up with new ideas and technology that change the world.

Jobs Created by Startups

In 2015 startup companies were responsible for 2.5 million net new jobs in the United States. This is according to data from the Kauffman Foundation, which tracked startup activity from 1980-2015.

Startup companies were responsible for 27 percent of all job creation in the United States from 1980 to 2005, according to data from the Kauffman Foundation. startup companies are a critical part of our economy and contribute significantly to job growth.


Startup companies are responsible for most of the significant technological breakthroughs in recent years. Startup companies are known for innovating and changing the world with new ideas and technology.

Some examples of startup companies that have changed the world include:

  • Google: A startup company that revolutionized how we search for information.
  • Amazon: A startup company that changed the way we shop online.
  • Uber: A startup company changing how we get around cities.
Cannatech Ventures Team
Pictured Left to Right – CannaTech Ventures Co-Founders: Noemi Romero, Elanta Slowek, Candace Clark, Amor Montes De Oca, MJ Jaroscak, John Zozarro

As you can see, startups are a critical part of our economy and contribute significantly to job growth and innovation. If you have an idea that you believe has the potential to change the world, then you should consider pursuing your startup idea.

Our startup, CannaTech Ventures, marks one of the first and few times a minority-owned startup development program emerged to serve founders.

The program launches with a collaboration of partners, mentors, and platforms, to provide a distinctly exceptional experience for cannabis professionals while embracing the ever-changing economy in support of remote work, the gig economy, and the creative class.

Learn more about the incubator and apply at

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Startups: Fueling Economic Growth and Recovery

by Candace Clark time to read: 2 min