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The fastest growing young firms, like those Elevate targets and cultivates, comprise less than 1% of
all companies in the United States economy – and yet they create a significant portion of the jobs for the entire sector.
According to the Kauffman Foundation, the top performers from this 1% typically generate 40% of the new jobs created by all of the companies in any given year. This data is supported by similar results released by Team Pennsylvania Foundation, which indicate that while Pennsylvania's high-growth companies make up .3% of the state's total 757,556 businesses, they accounted for one out of every 2.6 new jobs created. Using data from the Indiana 21st Century Research & Technology Fund, Elevate has observed that these findings out not out of line with their data in Indiana. Out of a sample size of 47 companies and a total revenue of $108.7 million, the top 10 companies generated $78.6 million - in other words, the top 10 companies generated over 72% of the total revenue.
Read more about how Elevate is helping Northern Indiana