NEW ORLEANS – New Orleans has been named one of the top 20 entrepreneurial regions in the United States, ranking No. 14 in a new national analysis of high-growth startup ecosystems released by JPMorganChase and the Nasdaq Entrepreneurial Center. The 2025 report, “Advancing Regional Innovation Economies – Mapping the Momentum of America’s Top Entrepreneurial Regions,” evaluates metro areas on research and development activity, new business formation, and capital deployment.
“Entrepreneurship doesn’t just power job creation, it underpins America’s global competitiveness, our communities’ resilience, and the promise of upward mobility,” said Nicola Corzine, CEO & Executive Director of the Nasdaq Entrepreneurial Center. “Small businesses account for nearly half of the U.S. workforce and two-thirds of new jobs. In short, when entrepreneurship thrives, economies thrive,”
How the Rankings Were Built
The research team began by examining nearly 250 of the nation’s largest regions before narrowing to 20 that demonstrated the strongest entrepreneurial momentum. From that group, researchers selected eight metros for deeper case studies, analyzing the distinct strategies communities use to turn ideas into companies.
Corzine said the project’s fourth-year research “zooms in” on the metropolitan level, where entrepreneurial dynamics are most visible and actionable. “Now in its fourth year, ARIE builds on foundational research at the international, national, and state levels to zoom in on where entrepreneurial dynamics truly play out: the metropolitan level,” she said.
Other high-performing metros spotlighted include Columbus; Kansas City; Minneapolis–St. Paul; Pittsburgh; Portland; Richmond; and Seattle.
Tulane’s Central Role in the New Orleans Ecosystem
Tulane University is featured prominently in the report as a key driver of New Orleans’ innovation economy. Kimberly Gramm, David and Marion Mussafer Chief Innovation and Entrepreneurship Officer at the Tulane University Innovation Institute, was interviewed for the study.
“Being named a top 20 entrepreneurial growth engine validates what we see every day,” said Gramm. “New Orleans has built a distinctive, culturally rooted model of entrepreneurship. Tulane is proud to help accelerate that momentum by converting world-class research into new companies, new jobs, and long-term economic impact.”
The report notes that Tulane’s research enterprise—supported by a 75% increase in faculty research awards over the last decade—has launched numerous startups, including biotech spinouts Informuta and Cleaved Diagnostics. Tulane’s annual economic impact totals $5.2 billion statewide and supports more than 30,000 jobs.
The university’s expanding downtown campus, including the redevelopment of the former Charity Hospital into a bioscience hub, is expected to further strengthen regional innovation and accelerate commercialization.
What Drives Startup Success in New Orleans
The ARIE report identifies four major structural factors that drive entrepreneurial growth: access to capital, education networks, talent movement, and supportive policy. When these factors work together, they create a “flywheel” effect that strengthens startup formation and improves outcomes.
Education plays a particularly strong role in high-performing metros, and the report finds that regions with robust research universities and applied entrepreneurship programs convert knowledge into ventures more quickly, especially when connected to capital networks and employer demand.
According to the report, the New Orleans entrepreneurial identity is locally rooted and resource-efficient, shaped by a culture that encourages founders to validate ideas with early customers and initial revenue. The report highlights the importance of “collision density,” noting that events and organizations such as New Orleans Entrepreneur Week, LA.IO, Greater New Orleans Inc., Startup NOLA, Propeller, and several venture and angel networks help bring founders, mentors, and investors together.
Persistent Challenges
While early-stage funding is accessible, the report points to a significant challenge: securing larger growth-stage capital. Many New Orleans startups struggle to obtain follow-on investments needed to scale beyond $10 million in revenue, which affects the region’s ability to retain expanding companies.
ARIE and the Broader Research Collaboration
ARIE—Advancing Regional Innovation Economies—is a collaborative initiative led by the Nasdaq Entrepreneurial Center with research partners including Heartland Forward, Penn State University, and Crunchbase. The effort examines how place-based conditions influence startup success and provides frameworks communities can adapt to strengthen their entrepreneurial ecosystems.
Corzine emphasized that the findings are meant to guide practical action. “We invite you to use this report as both a roadmap and a call to action. A way to help spark innovation, strengthen ecosystems, and expand opportunity in every community,” she said.
The full 2025 ARIE report is available at nasdaqcenter.org.
