Tucson has many programs and sources available to technology startups to provide resources and a better chance of success.
According to the United States Census Bureau, around 600,000 small businesses have been started in the U.S. each year since 2015. Out of these businesses, 53.6% will fail before they hit their five-year mark, and 75.3% won’t make it past 15 years in business.
The Arizona Commerce Authority reports that 214,669 businesses were established in Arizona during 2023.
Tucson is a community focused on startups, small businesses, and new businesses. In 2023, the Downtown Tucson Partnership reported that 29 businesses were started in downtown Tucson with 14 opening soon.
There are many reasons that businesses may fail, but one of the top failing industries is technology startups. Technology has produced some of the most profitable businesses, but according to the U.S. Census Bureau, 14.9% of tech-related businesses will fail.
The University of Arizona Center for Innovation focuses on technology startups. Its incubator program gives tech companies a higher chance of survival.
According to the UACI, over 1,000 entrepreneurs were empowered through workshops, educational training, and pitch preparations.
According to Carol A. Stewart, vice president of the UACI, they have “between 70 to 80 startups in our program at any given time, which is an incredible number and the highest density of startups in any program in the state.”