One of the most optimistic reports in years about the venture capital available for startup companies in our region appeared this week, in the middle of a pandemic when it’s hard to feel great about anything.
It is a good news story, though, even if more venture capital may not be the perfect measure of the health of a region’s entrepreneurial community. More beats less, no matter the economic environment.
And the report’s details jump out for what they show about entrepreneurship here: that middle-of-the-country entrepreneurs seem to get more work done with less money.
It might be a cultural trait born of necessity, but it seems significant now in 2020. Never easy, building a company from scratch is going to be harder in this year of the pandemic recession.
This overview of venture capital in the middle of the country comes from the private company data of research firm Crunchbase and from Omaha-based Dundee Venture Capital. In its 10-year history, Dundee has invested in nearly 50 different companies in 19 cities, including the Twin Cities.
Not only have venture capitalists from the coasts dramatically increased funding in the middle of the country, the report explained, there’s also been a slew of middle America venture funds created since 2010, at least 128.