绘制中西部创新生态系统图

State of the MidwestInnovation Ecosystem 2026 1 Having A Strong Tech Sector Matters2 Rise of MidwestTech3 Ecosystems within the Midwest INNOVATIONWAVES The Us has been the clear winner in major tech waves over thelast 5oyears EXECUTIVESUMMARY The Midwest Innovation Ecosystem:Key Findings $660BEnterpriseValue 108$1B+Companies TheMidwest isoneofthe mostunderappreciated innovationecosystemsin theworld.Hometo12states andventurecapitaldespitegenerating~16%ofU.S.GDP 14%CAGR (10yr) Thatgapisclosing.Midweststartupenterprisevaluehasgrown3.8xinadecade,reachings660Bin2026,driven by 10,000+ startups, 108 $1B+ companies, and a 14% CAGR. Illinois leads in absolute terms ($267.6BEV),whileOhioandMichiganaregrowingfastest. Strengths are concentrated in Fintech, Biotech & Life Sciences, and Health Tech - together accounting forover $211B in enterprise value - with fast-emerging sectors including Al, Robotics, Aviation and Defence.World-class research universities, deep corporate talent networks (led by the Groupon Mafia), and a growinglocalinvestorbaseprovideastrongfoundation ~3-5%VCVs16%GDP The onlythingmissing?The capital to matchtheopportunity. MARKETCONTEXT Tech vs. Non-Tech: Earnings Power Continues to Bifurcate GLOBALPERSPECTIVE A Dramatic Shift in the Center of Gravity PRODUCTIVITY San Franciscoproductivity is1.8x that ofManhattan CONCENTRATIONGLOBAL Where $100B+ companiesare being built Bay Area: GEOGRAPHIC SCOPE The Midwest Region Twelve states spanning the industrial and agricultural heartland ECONOMICSCALE If the Midwest were a country, it would be the 4th largesteconomyintheworld GLOBALBENCHMARK Midwest ranks #12 globally by $1B+ output relative to GDP THEOPPORTUNITY The Midwest generates ~16% of U.S. GDPbut captures just ~3-5% of venture capital SHARE OF U.S. GDP ~16% SHAREOFU.S.VENTURECAPITAL ~3-5% One of the largest capitalallocationgaps in the U.S.economy 1 Having A Strong Tech Sector Matters2 Rise of Midwest Tech3 Ecosystems within the Midwest COMPANY FUNNEL Midwest Startup Pipeline 10K+ Startups<$15M funding 1,302 304 66 COMBINEDENTERPRISE VALUE Midwest startupvalue has grown3.8x in a decade $1B+ COMPANY TRACKER Cumulative s1B+ companies+ in the Midwest REGIONALCOMPARISON Midwest EV: Room to Grow REGIONALCOMPARISON Enterprise Value by Us Region FUNDINGPROGRESSION Graduation Rates by Region % of startups that advance to the next funding stage OUTCOMERATES From Funded to Breakout Outcomes %offunded startups reachingmilestone stages SECTORCONVERSION Breakout conversion by sector Beyond Fintech, Health & Life Sciences +419%$68.0M $84.6BFintech · Enterprise Value $79.4BBiotech & Life Sciences · EV $47.9BHealth Tech & Medtech · EV 1 Having A Strong Tech Sector Matters2 RiseofMidwest Tech3 Ecosystems within the Midwest STATE-LEVELBREAKDOWN Illinois Leads, Ohio & Michigan Growing Fastest NATIONALBENCHMARK Chicago is Hitting its Stride REGIONALECOSYSTEMS Midwest Startup Ecosystems Ann Arbor · Health & MedTech·Cybersecurity·Life Sciences MIDWESTUNICORNS Top $1B+ Companies by State Wisconsin Michigan Minnesota · Exact Sciences · $21.6B· Fetch Rewards · $2.5B· AccuLynx · $2.4B · Acrisure· $32B· Lineage · $19B.OneStream·$3.9B · Celcuity· $5.3B·Arctic Wolf·$4.3B·HistoSonics·$3B lowa Illinois Missouri ·EquipmentShare·$7.2B· Lumeris · $1.3B ECOSYSTEMMARKETMAP Knowledge → Formation → Capital → Scale KNOWLEDGE & TALENT CAPITAL&INVESTORS Local Roots,Global ReachWho Backs Midwest $iB+Companies OTHERLOCALEARLYSTAGE PRE-SEED&SEEDM25Origin VenturesSerra VenturesLudlow Ventures SERIESA+/GROWTHDrive CapitalJump CapitalDundeeVCAllos Ventures ANGELS&NETWORKSQueen City AngelsMichigan Capital Net. Ohio Third FrontierSBIR/STTR TALENTPIPELINE Where Midwest Startup Founders Worked Before FOUNDERNETWORKS Midwest StartupMafias FOUNDERNETWORKS The Groupon Mafia CAPITAL&DEALS Top 10 Biggest Rounds in the Midwest - 2025 TALENT&DIVERSITY Origin of $1B+ Company Founders EDUCATION&TALENTPIPELINE AITALENT THEDATAFLOW Your Data In.EcosystemInsights Out. Share your data in any format.Dealroom enriches it and feedsit back as live insights foryourecosystem. Ecosystem reports Drop anything here Founder&investormaps -5OM+DATAPOINTS WHATTHEPLATFORMDELIVERS A 360- View on Your Ecosystem Innovation Talent ·Headcount &employment: Job openings. Tech stack data·Founder &C-level profiles.Team composition ·Scientific research Startupsuccessrates Capital · Funding rounds & exits.VC,PE,CVC investors• Stock market dataLPs&familyoffices. Valuation multiples The Midwest is no longer emerging.Ithasarrived. S66OBINENTERPRISEVALUE· 108UNICORNS·150+UNIVERSITIES The ecosystem is proven. The pipeline is deep. The next wave of breakoutcompanies will be built here. All that remains is closing the capital gap