Changes

The {{Project|Has project output=Data|Has sponsor=McNair Center|Has title=Hubs Research Project is a full-length academic paper analyzing the effectiveness of "hubs"|Has owner=Hira Farooqi, a component of the entrepreneurship ecosystem|Has keywords=Data|Has project status=Active|Does subsume=Hubs Analysis 2017, in the advancement and growth of entrepreneurial success in a metropolitan area. }}

This research will primarily focused on large '''Important Notice: The last update to the hubs data was done manually by Ed and midis in E:\projects\MeasuringHGHTEcosystems\HubsData-sized Metropolitan Statistical Areas (MSAs), as that is where the greater majority of Venture Capital funding is locatedRevisedSimplified. xlsx'''

The data set includes all United States Venture Capital transactions (moneytree) from Hubs Research Project is a full-length academic paper analyzing the twenty-five year period effectiveness of "hubs", a component of 1990 through 2015.Data has been accumulated at the portfolio company, fundentrepreneurship ecosystem, in the advancement and round levelgrowth of entrepreneurial success in a metropolitan area. It will be analyzed at focuses on cities in the United States as the combined MSA levelprimary unit of analysis. We will be looking at in terms of number of companies funded in number of funds active, and flow of investment in a given MSA

Funds'''Note on joining: fundname''' The city-state-year ID from VC data is used as the master ID for joining datasets. Each table (e.g. income, msacodenih, state MSALookupTable: MSACodensf, sbir, MSASuper compustat) is first joined with the VC data on city-> FundInfo: fundname, msacode, state (complete)-year ID and then the resulting tables are all joined together in the final table.

Then take===Data by zip code===*Population data, 2000-2016 - US Census Bureau (E:\McNair\Hubs\summer 2017) RoundInfohttps: Coname//www2.census.gov/programs-surveys/popest/datasets/*Income data, roundyear, fundname, estamount1998-2014 - The Internal Revenue Service (E:\McNair\Hubs\summer 2017) CompanyInfohttps: Coname//www.irs.gov/uac/about-irs*DCI index, MSASuper, InduCode, stateto assess the economic well-being of communities FundInfohttp: fundname, msacode, state //eig.org/dci/interactive-maps/u-s-zip->codes SuperRoundInfo: Coname*R&D Expenses, CoMSASuper, CoInduCode, CoState, FundName, FundMSASuper, FundState, RoundYear, RoundEstAmount 1980-2016 -> MSAPortCosWharton Research Data Services (E: Count(CoName\McNair\Hubs\summer 2017) As NoPortCosFunded, CoMSASuper, RoundYear *Zipcode look-up table obtained from https://www.unitedstateszipcodes.org/zip-code-database/. It's available in (E:\McNair\Hubs\summer 2017).

'''Notes on Creation of Primary == Data Set'''by MSA ==

Raw tables* companies (last investment, first investment, company name, MSA, MSA code, address, state, date founded, known funding, industry) * funds (fund closing date, last investment, first investment, fund name, address, MSA, MSA code, Average investment, number companies invested (NoCos), known investment) * rounds (round date, company name, state, round number, stage 1, stage 2, stage 3) * combined rounds (company name, round date, disclosed amount, investor) * msalist (changes MSAs to CMSAs— combined We have principle cities of MSAs)from the census:*industry list (changes 6 industry categories to 4— ICT, Life Sciences, Semiconductors, Other) https://www.census.gov/geographies/reference-files/time-series/demo/metro-micro/delineation-files.html

Process* cleaned tables We might be able to eliminate duplications, undisclosed variables* changed all original characters to include CMSA and Industry Codes (companyinfo3, fundinfocleanfinal, roundinfoclean) * matched funds to avoid any issues with names (i.e. Fund ABC L.P./Fund ABC LP/Fund ABC) *matched roundinfoclean investors to fundinfocleanfinal investors (roundinfo.txt go City ->FIPS place code -> cleanfundfinal.txt)*join by round and company conames*bridge years (1990-2016), stage, and cmsa* populate data with count of companies (Deal flow) and estimated amount ($)** data set in 181 hubs folder under summarycmsa.txt (38394)MSA?

'''Glossary of Tables''' cleanco — used to remove duplicates from companies cleanedcompanies — clean set of companies with no duplicates cmsafunds- cmsas— list of all CMSAs in final data set (for merging) cmsastats- statistics not including empty years (pre-merge) cmsastats2 - statistics separated by year-MSA cmsastats3— statistics separated by year-MSA-stage cmsastats4 cmsayears— empty merged table between year and cmsa cmsayearstage — empty merged table between cmsa/years and stage combinedrounds— raw sdc data for combined rounds combinedroundswamt— used to join rounds and combined rounds for roundinfo2 companies- raw SDC company data companyinfo — cleaned companies joined with state and CMSA information companyinfo2— companyinfo1 with original industry categories companyinfo3— companyinfo2 with updated industry categories Cities and their FIPS codes companyinfo4-- clean version of companyinfo3 companyround- combined company information with round information companyround2- combined company information with round information, cleaned up from companyround2 companyround3- combined company information with round information, cleaned up from companyround3 (which don'''finaldataset'''- final statistics by CMSA-year, see section Final Primary Data Set for more information fundinfo— funds joined with CMSA info fundinfo2 - clean version of fundinfo1 fundinfoclean - used in process to clean fundinfo2 fundinfoclean2- used in process to clean fundinfo2 fundinfocleanfinal- used in process to clean fundinfo2 fundinfocleannodups- final clean set of fundinfo funds - raw SDC fund data Houston - analysis for Houston ecosystem team Houston2- analysis for Houston ecosystem team houston3- analysis for Houston ecosystem team industry — new industry codes (4t perfectly correspond)— used for all future data sets industrylist— lookup table for new industry codes (went are available from 6 to 4) joined1- used for matching process joined2- used for matching process matchfund2- used for matching process matchfunds- used for matching process matchroundfund - used for matching process matchroundfund2- used for matching process msalist — lookup table for MSA to CMSA (used for all future data sets) nearfar1-- beginning set before adding nearfarhttps://stage variables nearfar2 -- added binomial variables for nearwww.census.gov/far and for each of the stages, used to build final dataset roundfund— not used— joined round to fund; dropgeo/ignore roundinfo— round info cleaned up to include number of investors in a syndicate and estimated investment per member of syndicate roundinfo2— roundinfo1 including name of investorsreference/funds roundinfo3— clean version of roundinfo2 roundinfoclean — final clean version of roundinfo3 (final roundinfo table) rounds — raw SDC round data stages — table for merging stage-year-CMSA superinfo — ignorecodes/drop temp - used for matching process years — table for merging stage-year-CMSAplace.html

The Hubs candidate This might do it: https://www2.census.gov/geo/pdfs/maps-data set is a list of potential hubs found in MSAs throughout the country/data/rel/explanation_ua_cbsa_rel_10. Researchers are currently pulling qualitative and quantitative information from the candidate's websites, in an attempt to categorize what pdfWe can be identified as a hub. This is a difficult data set maybe track city to pull, as there is little principal city to no quantitative information available for this category of institution, and is dependent on accessibility of information to the public on the internet.MSA

Characteristics/Variables==COMPUSTAT Data==*Year Founded*Square footage*LinkedIN self-identifiers (what The data set includes information on publicly traded firms in the US. It was obtained from the organization classifies itself on its LinkedIN profile) *Activeness on Twitter Wharton Research Data Services (binomial)*Member Directory available online (binomial)*Number of conference rooms*Price ($https://month) for Flex desk *Offers Reserved desk (binomial)*Offers office space for rent (binomial) *Offers community membershipwrds-- not for coworking but for community events, etcweb.wharton.upenn. (binomial)*Number of events offered per month (estimate)*Offers code academy*Mission Statementedu/wrds/Vision (for qualitative or key-word analysisindex.cfm?) .

===Supplementary Data Sets===The source file is RandDExpenditures.txt. It contains:*Date from 1980-2017 (July). *427799 records*Fields include:**R&D Expenditure**Address (inc. city, zip, state)**Revenue of firms Database is '''Patent datacities''': to be pulled from USPTO or SDC Platinum. *unable to find on the internet, must be pulled from the larger dataset

'''Number of STEM Graduate Students''' (NSF) and '''University R&D Spending''' (NSF)SQL script is: Grad Students found for the year 2015, no data going back historically; R&D found for the past 10 yearsCOMPUSTAT.sql

Output file is COMPUSTATSummary.txt. It contains:*categorized university by MSAVariables: City, can be used for all universityyear, No.public firms, sum R&D, sum Sales, sum total assets*1979-based projects2016*4440 cities

'''Per Capita Income''' and '''Employment Data''' (US Census Bureau)It is located in Z: complete for most recent census, unable to find data going back historically\Hubs\2017\Output_Files

==NSF Data==Data is in: E:\McNair\Projects\Hubs\Summer 2017 Z:\Hubs\2017 Database is '''Firm Birthscities''' (BDS): data set found for 1990 to present, currently being cleaned up for use

===Resources===* Yael Hochberg and Fehder (2015), located in dropbox** Use this paper as a guideline on how to conduct the analysis*US Census Bureau data on employment by MSASQL script is: http://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_14_5YR_B23027&prodType=table*USPTO tility patents by MSA: http://www.uspto.gov/web/offices/ac/ido/oeip/taf/cls_cbsa/allcbsa_gd.htm*MSA level trends: http://www.metrotrends.org/datansf_2017.cfsql

===To Do===We need to find The source files are: nsf2017.txt, copied from table '''nsf''', and clean up data sets at nsf_institution copied from table '''nsf_grants_institution''' from the MSA levelbiotech db.

*Patent data (USPTO)*Number of STEM Graduate Students (NSF)They contain:**in progressAward ID*University R&D Spending (NSF)Award Institution*Per Capita Income (US Census) Award Effective date**complete (Employment and Income_MSA.xls)Institution city*Employment (US Census)Award Value**complete (Employment and Income_MSA.xls)Organization state code*Firm births (BDS)*SELECT MSAs!!! Possible method: choosing CMSAs with Distinct companies funded ** >100 = 38** >75 = 45** >50 = 52** >25 = 80** Total 238**greater than 100 will give us 52 CMSAs to work withFrom 1900 - 2017

Cleaning tasks:===Joined NSF table===*Remove PortCos The joined nsf table with the VC table is found in db '''cities'''. The table is named Undisclosed, etc'''merged_nsf'''.*Remove Funds named Unknown, etcAll the values of nogrants and valuegrant with missing values for years 1990-2017 are set equal to 0.*Basic Data cleaningThe sql script is in Z:**Enormous outliers on funds invested**Check dates\HUbs\2017\sql scripts

Lookup tables==NIH Data==Data is in:*SuperMSAs Z:\Hubs*Industry*Stages E:\McNair\Projects\Hubs\Summer 2017

Example dataset Z: MSA Year SeedVCInv SeedEarlyVCInv LaterVCInv NoDeals FundsInvested DistinctInvestors .... ---------------------------------------------------------------------------------------------------------------------------- 1234 2001 1000000 20000000 30000000 4 7 7\Hubs\2017\sql scripts

Note that the unit of observation is MSA*Date from 1986-Year.2015

Variables to be computed at ===Joined NIH table===The joined NIH table with the MSA level:*HubActive (binary)*NoHubsActive (Count)*HubSqFt*Other Hub Vars (build list!!!)*VC table is found in db '''SeedVCInvcities''' (Seed/Start-up)*. The table is named '''EarlyVCInvmerged_nih''' (Early Stage).*'''LaterStageVC''' (Later)*'''OtherStageVC''' (Buyout/Acq, Other)*'''NoDeals''' (done by local VCs?)**'''NoDealsNear'''**'''NoDealsFar'''*NoPortCosFundedAll the values of nih_valuegrant and nih_nogrants with missing values for years 1986-2015 are set equal to 0.*'''FundsInv''' (The sql script is in an MSA)**'''FundsInvFromNear''' (within MSA?)**'''FundsInvFromFar''' (outside MSA?)*DistinctInvestors (?)**DistinctInvestorsNear (within MSA?)**DistinctInvestorsFar (outside MSA?)*PatentCount*NoSTEMGrads*FirmBirths (BDS data)*UniRandDSpend*PerCapitaIncome*Employment Z:\HUbs\2017\sql scripts

We need to==Clinical Trials Data==Data is in:*Check funds invested means dollars invested Z:\Hubs*Categorize near and far! Is it within MSA vs. not, within adjacent MSAs, etc.? E:\McNair\Projects\Hubs\Summer 2017

There may be a second dataset that has Hub-Industry-Year (where industry is semiconductor/non-semiconductor?)*medclinical.txt

Table name===Joined clinical trials table=== The file which contains the number of trials in each city and year is located in: Z: finaldataset\Hubs\2017 cmsaThe file is in: Z:\Hubs\2017\clean dataThe name of the file is: ctrialsSummary.txt It contains:*city*year*city_state_year*noctrials - number of trials The ctrials is joined with VC table. The joined SQL script is: '''new_ctrials.sql''' and it is located in totalamountinvZ:\Hubs\2017\sql scripts The name of the joined table is '''new_merged_ctrials'''. It contains:*city*state*city_state_id*city_state_year*year*noctrials*seedamtm*earlyamtm*lateramtm*selamtm*numseeds*numearly*numlater*numsel All the values of noctrials with missing values for years 1999-2017 are set equal to 0. ==Population Data==Data is in: Z:\Hubs E:\McNair\Projects\Hubs\Summer 2017 Database is '''cities''' SQL script is: '''population.sql'''The source files are: *pop2000_2009.xlsx*pop2010_2016.xlsx They contain:*State*City name *Year *Population Estimates Date from 2000-total amount invested 2016 ===Joined population table=== Data is in: Z:\Hubs\2017\clean dataThe file names are nearamountinv1_population.txt -contains data on population estimates from 2000-amount invested from local funds2009 faramountinv2_population.txt -contains data on population estimates from 2010- amount invested 2016  Database is '''cities'''SQL script is: '''new_population.sql''', located in Z:\Hubs\2017\sql scripts The population table is joined on VC table. The table is called '''new_merged_population'''. They contain:*City*State*city_state_id to uniquely identify each city*city_state_year to uniquely identify each city in each year*Population estimates*Year*Code from the state code and Fips code*State full name ==Income Data== Raw data was obtained from Census data, American Communities Survey. Raw Data is in: E:\McNair\Projects\Hubs\Summer 2017\MSA Income_raw.zip   Date from funds outside CMSA 2005-2015 The master list with MSAs and principal cities is titled '''list2.xls'''. It is located at: earlyinvZ:\Hubs\2017 This master list includes:*MSA code*MSA name*Principal City*State*Place code (city code)*State Code This master list was edited to associate each principal city with a unique state. E.g. if New York is the principal city located in New York-New Jersey MSA, it was associated with state NY-amount invested NJ. So '''list''' was edited to put New York with NY.   Cleaned Income data files are in early stage companies laterinvZ:\Hubs\2017\merging_on_ID  They contain:*MSA code*MSA*Year *Total Household Income  The MSA-City-amount invested State look up file is titled '''msa_city_state_wcode.txt'''. It is located in later stage companies startupseedinvZ:\Hubs\2017\merging_on_ID  The SQL file that merges income data from ACS (by MSA -Year) with the MSA-amount invested City file is titled '''income.sql'''. It is located here: Z:\Hubs\2017\sql scripts The final income table is in db '''cities''' titled '''merged_income'''. It includes:*MSA*City*State*Year*Total Household Income  The table includes 8780 observations ===Joined income table=== Data is in: Z:\Hubs\clean dataThe file names are: INC_05.txt - INC_15.txt  Database is '''cities'''SQL script is: merged_income.sql  They contain:*City*State*city_state_id to uniquely identify each city*Income*Year*Code from the state code and Fips code ==Employment Data== Data on employment was obtained from American Communities Survey, US Census Bureau. Raw Data is in: E:\McNair\Projects\Hubs\Summer 2017\Employment Data by MSACleaned files are in seed Z:\Hubs\2017\clean data They contain:*MSA code*MSA*Year *Employment rate of individuals 16 years or older*Unemployment rate of individuals 16 years or startup stage companies older otherstageinvDate from 2005-2015 The SQL file that merges employment data from ACS (by MSA -amount invested Year) with the MSA-City file is titled '''Employment.sql'''. The file is located in: Z:\Hubs\2017 The final table is in db '''cities''' titled '''merged_employment'''. It includes:*MSA*City*Year*Employment rate*Unemployment rate ===Joined employment table=== Data is in Acquisition/Buy: Z:\Hubs\clean data The file names are: EMP_05.txt -outs/Other stage companies EMP_15.txt  Database is '''cities'''SQL script is: '''new_employment.sql''' and it is located in Z:\Hubs\2017\sql scripts The final table which is joined on VC is in db cities titled '''new_merged_employment'''. They contain:*City*State*Code from the state code and Fips code*city_state_id to uniquely identify each city*city_state_year to uniquely identify each city in each year*Employment rates of individuals of 16 years or older*Unemployment rates of individuals of 16 years or older*Year ==Schooling Data== Data on schooling was obtained from American Communities Survey, US Census Bureau. Raw Data is in: investingfundE:\McNair\Projects\Hubs\Summer 2017\School Enrollment Data by MSACleaned files are in Z:\Hubs\2017\clean data They contain:*MSA code*MSA*Year *Total number of population 3 years and over enrolled in school*Percent of population 3 years and over enrolled in public school*Percent of population 3 years and over enrolled in private school  Date from 2005-2015 The SQL file that merges schooling data from ACS (by MSA -distinct funds that Year) with the MSA-City file is titled '''schooling.sql'''. The file is located in: Z:\Hubs\2017 The final table is in db '''cities''' titled '''merged_schooling'''. It includes:*MSA*City*Year*Total*Percent_public_schooling*Percent_private_schooling ===Joined schooling table=== Data is in: Z:\Hubs\clean dataThe file names are investing : SCH_05.txt - SCH_15.txt  Database is '''cities'''SQL script which joins this table with VC table is: '''new_merged_schooling.sql'''The final table is in db '''cities''' titled '''new_merged_schooling'''. It contains:*City*State*city_state_id to uniquely identify each city*city_state_year to uniquely identify each city in each year*Total number of school enrollment*Percentage enrolled in that CMSA-public schools*Percentage enrolled in private schools*Year*Code from the state code and Fips code ==VC Data==   Raw Data is in: Z:\VentureCapitalData\SDCVCData\vcdb2 The file name is roundleveloutput2.txt It contains:*city*state*year investingfundnear*seedamtm -seed, amount in millions*earlyamtm -distinct funds from that CMSA that invested early, amount in that CMSAmillions*lateramtm -year late, amount in millions investingfundfar*selamtm -seed early late, amount in millions*numseeds -distinct funds number of seeds*numearly *numlater*numsel*numdeals*numalive  Date from outside that CMSA that invested 1948-2017  The table is in db '''cities''' titled '''new_vc'''. It includes:*city*state*city_state_id*city_state_year*seedamtm*earlyamtm*lateramtm*selamtm*numseeds*numearly*numlater*numsel*numdeals*numalive*year ==Final Joined Data set ==  The final data set is in file '''final.txt''' and is located here: Z:\Hubs\2017 It includes:*city*state*city_state_year - (ID that CMSAdata is merged on)*year*seedamtm - Seed Amount*earlyamtm -year Early Investment Amount*lateramtm - Late Investment Amount*selamtm - Seed early or late amount*numseeds - Number of seed investments deals*numearly -Number of early investments*numlater -number Number of late investments*numsel *numdeals - Number of deals (first contracts) neardeals*numalive - Number of start ups alive*income - Income per capita in each city-year*sbir_nogrants -number Number of deals inside a CMSA SBIR grants fardeals*sbir_valuegrant -Value of SBIR grants*emp -number Employment stats of deals from outside a CMSA each city-year*unemp -Rate of unemployment*popestimate -some Population estimate of these deals might count each city-year*private - Enrollment in private schools*public - Enrollment in both categories, because public schools*total - *numfirms - Number of syndicate members being both inside and outside the CMSApublicly traded firms earlystagedeals*randd -R&D expenditure of publicly traded firms*revenue -deals with earlystage companiesRevenue of PTF*totalassets laterstagedeals*nsf_nogrants -Number of NSF grants*valuegrant -deals with later stage companies Value of NSF grants startupseeddeals*nih_nogrants -Number of NIH grants*nih_valuegrant -deals with startup/seed companies Value of NIH grants otherstagedeals*noctrials -NUmber of clinical trials == Defining Hubs == '''Summer 2016''' -deals with companies Last year a master list of 125 "potential" hubs was used. A scorecard was developed which filtered these 125 candidate hubs to determine which of these should be included in the study sample. This method resulted in other stages a sample size of ~ 30. The master list and the final hubs list is titled '''Hubs Data v2_'16'''. It is located here: newportcosfundedZ:\Hubs\2017\hubs_data '''Summer 2017''' -In order to obtain a more statistically significant sample of hubs, we developed 5 criteria which produce a more relaxed definition of hubs than last year. These include *Availability of co-number working space*Coding classes or tech events*Some focus on the tech sector (this is important as our dependent variable is VC funding)*Presence of an accelerator*Availability of mentorship for members. We will review the 125 candidate hubs and select those which satisfy a subset or all of portfolio companies to receive their first investment in that yearthese characteristics.   [[category:Internal]]