An Indiana tech insider says 2016 will be remembered for big acquisitions and the largest venture capital investment the state has seen in recent history.
TechPoint CEO Mike Langellier says for investment and growth to continue, Indiana needs to focus on four main ingredients: talent, capital, companies and connectedness.
He says venture capital will play a vital role in raising Indiana’s tech profile. During an interview with Inside INdiana Business, Langellier said venture capital from Indiana sources has been hard to come by, but could serve as a major industry catalyst.
"The more of those funds that we can get coming from Indiana, and then reinvesting back in Indiana, this is a win," said Langellier. "We hate to see those funds leave and ultimately go into the pockets of investors or venture capital firms elsewhere."
Langellier added that Indiana must focus on the four main growth ingredients in order to ultimately, "get these companies in our state to the point of success that we want to, where we emerge as the Midwest leader for tech, entrepreneurship and innovation."
He says Indiana is well positioned to be tops in the Midwest, citing the state’s success over the last decade with $6.5 billion dollars in acquisitions and IPOs. However, Langellier cautions that number is not the ultimate indicator of success, but says what it does do is create wealth and opportunity.
"It puts central Indiana and Indiana on the map from a national perspective, especially when you have the tallest building in the state that has a tech company with Salesforce on its top."
Langellier cites the $1.4 billion purchase of Interactive Intelligence, Appirio and T2 Systems as the most significant deals from last year. Adding these acquisitions are important indicators for 2017. “It is validation,” said Langellier.