The Coasts Don’t Own Innovation. They Just Own the Capital.

Innovation is no longer confined to a few coastal cities. We know that well in the Midwest.

Across the region, our universities, research labs, and entrepreneurs are launching companies in fields ranging from artificial intelligence and robotics to energy, biotech, and quantum computing. Beyond that, we’re producing enormous amounts of research, talent, and new ideas every year.

But while innovation is increasingly happening everywhere, venture capital remains geographically concentrated. Early-stage investors, experienced founders, and startup networks are still heavily clustered in a few ecosystems, especially the Bay Area.

In an op-ed originally published in Crain’s Chicago on April 23, Samir Mayekar, associate vice president and managing director of the Polsky Center for Entrepreneurship and Innovation, and Steven N. Kaplan, Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance and Kessenich E.P. Faculty Director at the Polsky Center, argue that while innovation is thriving in the Midwest, stronger connections to coastal venture capital are critical to helping startups scale and building a more durable regional innovation ecosystem.

Read the full article in Crain’s Chicago.