RESEARCH TRIANGLE PARK – Startup job postings held strong this week, according to the latest edition of the WRAL TechWire Jobs Report.
Postings ticked up 0.2% after last week’s drop, remaining above 13,000 job listings for the week [not allowing for duplications].
This stability may indicate that startups can once again focus on their day-to-day operations following last month’s bank turmoil.
It’s been just over a month since Silicon Valley Bank failed after a bank run, marking the second-largest bank failure in US history and the largest since the 2007–2008 financial crisis. Two weeks later, SVB was acquired by North Carolina-based First Citizens Bank.
The stabilization in job posts from startup companies in the Triangle could indicate that the local startup ecosystem is regaining confidence after last month’s shakeup. The numbers also are in sharp contrast with genera job openings in the Triangle which have fallen for five consecutive weeks, according to TechWire’s Jobs Report.
I asked Scot Wingo, veteran local investor and the current CEO of fast-growing RTP startup Get Spiffy, how he thinks startups feel now that we’re one month out from the SVB collapse.
“Everyone is feeling much better now that SVB is in the rear view,” Wingo told me, “and we don’t seem to be seeing a cascade/domino effect.”
Wingo also told me that he thinks the Triangle’s biggest strength is our diversity of startups, citing the diversity of startup stages and industries.
“Because of the stage and company type diversity we have in the Triangle, we’re seeing a ton of great companies forming, successfully fund-raising and scaling even in this tough macro post the SVB chaotic blip,” said Wingo.
Wingo is speaking at a startup event in Wilmington this Thursday. According to Jim Roberts, Founder of the Network for Entrepreneurs in Wilmington (NEW), 185 people have signed up for the event.
Thursday’s event in Wilmington will also feature the inaugural Wilmington Investor BUZZ IN event, an invite-only investor event. Roberts says more than 53 investors are registered, with five venture capitalists (VCs) set to “reverse-pitch” at the event, including VCs from Boston, Charleston, and Tennessee.
Roberts also told me that Wilmington-area startups like Essential Personnel, Lab Logs and Ohanafy Software are all hiring.
Startup job posts in the Triangle from this week
Here are the numbers from 15 different local or regional job board sites we review weekly for WRAL TechWire’s exclusive Jobs Report for “startup” jobs:
[Totals do not reflect job duplications.]