News Column

United States : VENTURE capitalists say MIDWEST is ripe for a tech boom

June 6, 2014

Chris Olsen, a venture capitalist who worked for several firms in California, says he and his partners are bullish on the Midwest.

They believe that more technology companies built in the Midwest in the next 10 years than there have been in the past 50. Olsen is a former partner at the high-flying Sequoia Capital returned to the region because it has untapped potential and talented entrepreneurs. To a packed room at the Wisconsin Entrepreneurs Conference as part of a panel on the state s investment landscape. The gathering continues at the Alliant Energy Center.

That mentality shift led to believe that it could focus on this geography as an investment firm, the same way that Sequoia focuses on Silicon Valley and other firms in other corners of the world focus on their regions to drive spectacular investor returns.

Midwest has the brainpower and work ethic to compete and outperform similar firms on the east and west coasts. Teradata, a data warehousing and business intelligence firm, is hiring 1,200 engineers a year.

When the playing field is level and startups from Ohio to Kansas outfits are properly funded, midwest companies win every time. It s amazing to think about that, but ExactTarget (a digital marketing software firm) in Indianapolis is another great example.

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Source: TendersInfo (India)

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