Funding for Midwest Healthcare Startups Has Already Doubled This Year Over Last
Think all the VC action happens on the coasts? Think again. In just the first half of 2014, $777 million was invested in 139 Midwest healthcare startups, according to the BioEnterprise Midwest Healthcare Venture Investment Report. That compares with $758 million invested in 213 Midwest companies in all of 2013. The medical device sector attracted the most cash, but the money going to biopharma and healthcare software startups was hardly shabby. The new report squares with what we're observing, too. Not only are companies like Aver Informatics, which is based in Columbus, OH, attracting investments from the likes of GE Ventures and Drive Capital, we've seen several impressive Midwest startups that have applied to be a part of the StartUp Health Academy (stay tuned for more on that soon!). According to our data, 32 digital health companies in the Midwest raised a total of $339 million in the first half of this year. We're thrilled to see new innovation -- and investor support -- emerge across the country, and we have every reason to believe the trend will continue. For more details, check out BioEnterprise's full report and our comprehensive funding database at StartUp Health Insights.