Ever since Drive Capital was founded by a partnership between local and Silicon Valley VCs, Columbus has taken off as a center for insurtech and healthtech startups. Forbes now calls it “the #1 city for startups and the top remerging city for venture capital.” The traditional presence of insurance companies in the region has even encouraged many healthtech startups to move headquarters to the region. Columbus has experienced tremendous growth in 2021 and is earning its own star on the map as a tech ecosystem.
Chicago minted 8 unicorn companies valued at over $1 billion in the first half of 2021 alone, bringing the total number of Chicago unicorns to 15. That number is rising quickly as the region expands the tech sector in logistics, AI, and healthtech.
The Midwest is in a renaissance of technology companies, with Michigan at its center. Michigan now has the highest level growth of VC investment of any state this year, with 900% VC investment growth between 2016 and 2020. Ann Arbor isn’t the only tech hub growing in the Midwest, but it is a notable one, with 46% of the tech startups in Michigan located in this one college town, according to EntryPoint Michigan. In Washtenaw County alone, 43 startups in 2021 attracted $215 million in venture capital funding.