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The Hyde Park Angels team conducted a deep dive analysis into the Midwest Venture Capital ecosystem by aggregating and analyzing data from Pitchbook, the U.S. Census, the Bureau of Economic Analysis, and the Illinois Venture Capital Association. We defined the Midwest, also classified as the Great Lakes Region, as Illinois, Indiana, Ohio, Michigan, Minnesota, and Wisconsin.
The Great Lakes Region produced $2.8T in GDP in 2015, placing it ahead of California ($2.4T) and New York ($1.43T), as well as every other region in the U.S.
Chicago leads the nation with the largest number of exits that produced returns over 10x.
At $1.34B in dollars invested across 171 deals in 2016, Chicago startups received more investment than all other Midwest states combined.
About This Study
This study provides a comprehensive breakdown of the Midwest Startup and Venture Capital ecosystem. The study allows for investors and entrepreneurs to better understand the market landscape so they can respectively make better investment decisions and position themselves for success.