Personally I'd say it would depend on the type of software a particular company is making. I think advancements in health tech have a ton of potential here with some of the research going on at the academic centers in the area (Wayne State, Karmanos, Henry Ford Health System, DMC, and outlying areas like UofM and MSU). Enterprise software while not as sexy would also probably be a good fit here as well. If an entrepreneur can make solid connections with the autos and outlying manufacturers and suppliers it can really give you some nice profit and list of clientele that is impressive. Other sorts of software startups may have a tougher time here due to the lack of coverage we get compared to other cities and Valley/SF. While we have DVP, Bizdom, and Compuware ventures it is also tougher to find funding then some areas. There are downsides to the city, but I've grown up in the area since I was born so my connection to it is fairly deep and I really want to see the city flourish as it once did.
Totally agree with your perspective on enterprise software, and inroads to the auto/suppliers/etc being a tremendous opportunity.
I initially thought the same about lack of funding, but it is not true. There are numerous funds as well as angel investors across the state of Michigan that are poorly connected, and historically as a region we've done a poor job of highlighting accomplishments of up-and-comers. We're trying to improve this dynamic.
Interesting. If that dynamic improved I believe that'd be a huge asset to the region. What are your thoughts on health tech in the area? One of my projects is pretty focused on improving the lives of researchers, and I've found this area has quite a few institutions looking to become more cutting edge.
We hosted Scott Case (Founding CTO of Priceline.com) at an event in Grand Rapids last week, covering the implications that the JOBS act will have on the Entrepreneurial and Investment communities alike.
It was...to date, the strongest representation of Michigan VCs I've ever seen gathered together at the same time. Absolutely overwhelmed by this group and the interest they had in health tech in the region.
At the same time, had the privilege of meeting a young Entrepreneur who went from founding Avomeen, to creating a very young startup called Labdoor. He's out of Ann Arbor. I'd bet on this kid in a second...he'll do massive things.
