Ritter Group Views Midwest VC Activity at Symposium
According to a recent report, the Midwest investment landscape has grown dramatically in the past five years and is at a major inflection point.
- (1888PressRelease) May 19, 2011 - As the Midwest continues to transition from its rust belt roots of auto and manufacturing into an innovation economy driven by clean tech, life sciences, and entrepreneurship, it shows that investors are noticing.
According to a recent report, the Midwest investment landscape has grown dramatically in the past five years and is at a major inflection point. Since 2006, over $735 million has been invested into over 120 deals, representing a 40 percent growth in the number of investments made and capital invested over the first half of the decade. Other highlights from the report include:
- A 60 percent growth in the number of venture capital firms operating in the state since 2006, with 24 currently in business;
- Combined capital under management reaching $2.6B, a 206 percent increase since 2006;
- Nearly 80 venture-backed companies are located in Michigan; and,
- A 75 percent growth in the number of venture-backed companies in the state in the past five years.
Year after year, the Symposium, the Midwest largest and most highly sought after venture capital event, showcases the most-promising startups emerging from the region and its top-tier research universities. During the past 10 years alone more than 300 companies have presented, including nearly a quarter that were University-based spinouts representing leading research universities, which have gone one to raise $423 million in funding and experience six successful exits. Of those 300-plus, 71 percent have raised capital totaling $1.7 billion in investment dollars. Further, 20 percent of the companies funded have gone on to realize successful exits.
The Symposium represents the many people and organizations that work tirelessly to prove to the world that Midwest has what it takes, the research, the investment power and the talented entrepreneurs, among other thing, to develop into an innovation hub that could hold its own with the likes of Silicon Valley and Boston. And this year, I can say with confidence that we've arrived on the map. It wouldn't surprise me if the next Accuri or even the next Google were among the forty presenting companies at this year's event, and it would be a huge win to have a local firm expose them to the world.
About Ritter Group:
Ritter Group is a premier provider of seed and early stage venture capital for innovative companies. Ritter Group works tirelessly to be the best across a global market and global technology areas including Biotechnology, Clean-tech, Information technology, Telecommunications, Diagnostic technology and Medical technology. Ritter Group provides unparalleled help and trusted advice across key aspects of company building including strategy, recruiting and business development.
Press Contact:
Barbara Gould, Ritter Group Media Coordinator, press ( @ ) rittergroup dot com
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