April 10, 2026
Mapping the Midwest Innovation Ecosystem
A data-driven overview of the Midwest's tech ecosystem, in collaboration with StartMidwest. An underhyped innovation powerhouse, despite a persistent venture capital gap.
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Selected charts
Companion charts derived from this report — open any chart in full-screen on the right side.
The Midwest generates ~16% of U.S. GDP, but captures only 3-5% of VC
A simple view of the Midwest capital allocation gap: ~16% of U.S. GDP versus only 3-5% of U.S. venture capital.
Midwest startup value has grown 3.8x in a decade
Combined enterprise value of Midwest startups increased from $174B in 2016 to $660B in 2026.
108 Midwest companies have crossed $1B in value
The 2026 Midwest report counts 99 $1B-$10B companies and 9 $10B-$100B companies across the region.