San Antonio startups still fall short on venture capital funding; Austin companies jet ahead
Graham Weston , Dirk Elmendorf, and Lew Moorman take part in a panel discussion during the annual Tech Bloc rally, Thursday, Nov. 9, 2017, at Rackspace in San Antonio. San Antonio startups collected more venture capital in 2021 than they did the year before — and still fell farther behind their peers in Texas’ other big cities in the hunt for early-stage financing.
But those numbers represent a small fraction of the investment hauls of companies in Texas’ other major urban centers. The number of San Antonio tech workers inched forward 0.5 percent to 17,500 in the same five-year period. Tech Bloc CEO David Heard said venture-capital funding is “institutional money” that usually flows into metro areas that are building business momentum. But if there’s not enough capital investment, it’s harder to launch startups that will develop and sell cutting-edge software, apps, robots or medical devices.
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