A new analysis of 42 Midwestern cities indicates Milwaukee “dramatically underperforms” when it comes to its expected venture capital activity. Madison, on the other hand, over-performed its expected activity level.
An early analysis from Omaha, Nebraska-based management consulting firm Chapman and Co. LLC’s upcoming Silicon Prairie Annual Report demonstrates that while Milwaukee had about $48 million in venture capital activity in 2017 (according to Pitchbook data), it should have had about $142.6 million in venture capital deals.
Falling about $94.6 million short on its expected performance gave Milwaukee the distinction of ranking among six Midwestern cities that “dramatically underperformed” their expected values, along with Oklahoma City ($112.1 million short), Kansas City ($97.3 million short), Tulsa ($31.2 million short), Wichita ($21.8 million short) and Omaha ($17.5 million short).
Tom Chapman, chair of the startup data committee for Startup Champions Network and founder of Chapman and Co., who put together the analysis, said the comparison provides a benchmark for how a city should perform based on the performance of peers at the same metro area size or smaller. Milwaukee was compared to Kansas City, Minneapolis, St. Louis and Oklahoma City. Read the full story here.