January 12th, 2024
Every year since 2013, American Underground has surveyed their AU community to gather data on growth, diversity and community impact. The startup hub and workspace recently released their 2023 Annual Report.
“We were happy to report another year of growth for the AU community, with the total number of companies and AU-based employees at highest levels since the pandemic,” said AU Executive Director Tim Scales. “At the same time, the report showed a challenging year for our member startups — they were able to raise significantly less in venture funding than prior years, and hiring has slowed.”
Despite the challenges, AU is feeling bullish about the coming year for their tenants.
“We’re optimistic that we’ll see those numbers improve in 2024, as market conditions for startups improve and we see renewed investment in our early-stage members,” said Scales.
You can read the full report here: American-Underground-2022-23-Annual-Report
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