This post is contributed by Ron Singh and Charlie Kelly of Silicon Valley Bank.
Why is Silicon Valley Bank in Kansas City? As our name suggests, our roots are planted deep in the Valley. We’ve been integral in providing capital, banking services and connections for innovative companies and investors throughout the world for more than 30 years. We place ourselves in markets where tech ecosystems are expanding, an entrepreneurial spirit is present and investors are finding companies with great ideas that are poised for growth. We found that in Kansas City.
While getting to know the players here we discovered the idea behind Revolution Partner’s Rise of the Rest campaign is valid – and perhaps understated. Steve Case is right: it is becoming easier and cheaper to start a company in the Midwest – labor, rent, you name it. Conversely, it is getting more and more expensive to create and grow a company in the Bay Area, NYC or Boston. These factors are not lost on VCs.
The vast majority of investors do not know that the Midwest ecosystem is growing and there are increasing numbers of innovative ideas coming to the surface. More experienced entrepreneurs are participating in organizations that provide valuable support to early-stage companies. Even large innovative Fortune 500 companies are getting involved in helping to develop the Midwest ecosystem.
While there is a solid group of investors already located throughout the Midwest, it never hurts to have more, especially those that can bring more than just money to the table. Sometimes people forget that their ability to recruit top tier talent is incredibly important to a fast growing company, and the region. Relocating talent will add to the ecosystem and thus the attractiveness of the Midwest.
Technology is globalizing and it is also happening here in the Midwest. We are thrilled to be a part of it. For our part at SVB, we do everything we can to help innovators, enterprises and investors move bold ideas forward, fast. In doing so, we look to understand the opportunities and challenges innovative companies face so we can be a voice and an advocate for the industry. Companies in our sphere contribute out-sized value to the economy, and we want to make sure these voices are heard.
Please help us in this effort by completing the annual SVB Innovation Economy Outlook survey. We gather information about business conditions, hiring, funding, global expansion and public policy issues from innovative companies around the world and use the data to paint the picture for the public and policy makers about the contribution this sector makes. Our ultimate goal is to pave the way to make it easier for these companies to succeed, create jobs and wealth and improve outcomes for patients, the environment, business, education, etc. Technology touches every aspect of our lives today, and we’re seeing that in the innovations our clients produce constantly.
We are excited to be part of all the amazing things to come from Kansas City’s innovators, and look forward to meeting you.
Each year, Silicon Valley Bank surveys innovative companies of all types and sizes to uncover the health of various technology and life science sectors and public policy factors affecting specific industries. Your input will help SVB represent the voice of the innovation sector and advocate for high-growth companies with policy makers, investors and the public. Take the survey today.