Sources: 
Startup Wyoming, under the leadership of Blossom Ko Lumley, is ramping up efforts to connect entrepreneurs with vital growth resources to address the challenges facing the state's startup ecosystem.
While Wyoming boasts a strong overall startup survival rate of up to
77% after one year, the success rate for high-impact, growth-oriented companies remains significantly lower. This discrepancy poses a major hurdle to economic diversification, especially as Wyoming's GDP has been in decline since 2008, according to the Wyoming Business Council.
Lumley highlights workforce housing as a critical barrier, stating,
'Our startups are leaving at a certain inflection point because they just can’t find workforce.' This shortage of affordable housing and labor is a persistent issue across Wyoming communities.
Additionally, Wyoming faces the highest youth outmigration rate in the country. Lumley told Cowboy State Daily,
'We have the highest youth outmigration rate in the country. And that’s because we in Wyoming are ambitious people. We want to achieve those ambitions.' This ambition drives the need for better resource connectivity.
The core mission of Startup Wyoming is to bridge these gaps by linking entrepreneurs with the diverse resources available, aiming to retain startups and foster sustainable growth. Lumley emphasizes,
'So, trying to figure out how to connect people with all these different resources that exist is like the first thing we’re trying to do.'By addressing workforce challenges and improving resource access, Startup Wyoming seeks to reverse economic decline and support the state's entrepreneurial ambitions.
Sources: Startup Wyoming, led by Blossom Ko Lumley, is intensifying efforts to connect entrepreneurs with essential growth resources to address the state's low success rate for high-impact startups and combat economic challenges like workforce housing shortages and youth outmigration.
