Mayor Daniel Rickenmann: How young people can change the world from homes in Columbia SC

Members of Generation Z like Scale AI founder Alexandr Wang are changing the world through innovation and entrepreneurship. I want to make sure others do it from their home in Columbia.

I know some may think: “Gen Z, you mean the kids who just want to be social media influencers?” Yes, one survey in 2023 showed more than half of Gen Z’s members believe they could make a career out of becoming an influencer — but we shouldn’t be so quick to boil this generation down to one stereotype.

Case in point, a recent Fox Business article highlighted a survey from last year showing a majority of Gen Z members want to pursue entrepreneurial opportunities. Two class of 2024 graduates of the Darla Moore School of Business at my alma mater, the University of South Carolina, are bringing this statistic to life.

In their freshman year at USC in 2020, Jordan Fowler and Carter Burns founded a hedge fund, Shaw Circle Management, and achieved impressive returns of 3.5% while the S&P 500 experienced an 18% downturn. This year, they secured grant funding from the newly formed SC Quantum Association, an organization founded in 2022 to advance quantum computing technology and cultivate a talent base in the state, to develop an innovative retirement investment model.

Using a quantum supercomputer at the University of Maryland, they were able to reduce the time needed for in-depth financial analyses from hours to mere minutes. Following this project, the duo leveraged their expertise in the intersection of quantum computing and finance to earn a third-place finish at MIT’s prestigious iQuHack Hackathon in February.

Columbia has a constant influx of the brightest young minds in our region and country as a city with six institutions of higher education that serve a population of approximately 60,000 students. What’s more is Columbia’s strategic location within the Southeast positions it as an ideal hub for business expansion.

Nestled conveniently between major markets like Atlanta, Charlotte and Charleston, our city offers unparalleled access to a wide array of economic opportunities. This proximity allows entrepreneurs to easily connect with key industry players, attend important conferences and expand their business networks beyond local boundaries.

Furthermore, Columbia’s robust transportation infrastructure, including major highways and a regional airport, also ensures seamless connectivity to these other bustling economic centers. This makes it easier for businesses to reach their clients, partners and investors, facilitating growth and fostering innovation.

In Columbia, you’re not just building a business; you’re strategically positioned to make a significant impact on a regional, national and even global scale as companies from Capgemini to Haldex have shown.

As Fowler and Burns, the two local young leaders from Shaw Circle Management, can attest, Columbia’s entrepreneurs are encouraged to be innovative and pursue their visions, knowing they have access to resources and mentorship to help them succeed. These aren’t just hopeful economic development talking points; they are founded in fact — and the proof is in the pudding.

Just last spring, Scout Motors announced a $2 billion investment in Richland County that will bring 4,000 jobs to the region. This is the largest capital project win for the Midlands in decades, and we achieved this milestone thanks to all the reasons listed above.

I came to Columbia from Spartanburg as a USC freshman in 1988 and, like so many others, fell in love with this city. After graduating, I started my own restaurant and, later, a renewable energy company, and began investing in the community that welcomed me with open arms. Columbia is not just where I live and work — it’s where my dreams took root and flourished. I want the same for every young entrepreneur who sets foot in our city.

Columbia is more than just a launching pad for entrepreneurial dreams. It’s a place where those dreams can thrive. We are Columbia, and together, we can shape the future from the heart of South Carolina.

Rickenmann is mayor of Columbia.