Amid a wave of nationwide tech layoffs, tech hubs like Columbus, Ohio are still seeing growth and hiring for the future.

There’s little doubt Columbus, Ohio is becoming one of the fastest growing tech hubs – not just in the Midwest, but in the country. And with that comes the challenges of finding and hiring a proper workforce. Now in 2022, Columbus is a growing ecosystem of tech talent, startup pros, active venture capital firms, and Silicon Valley expats.

Like its Midwest neighbors, Columbus got its start as a major manufacturing hub in the early 20th century. To this day, Ohio is still home to much of the country’s manufacturing jobs, but over the years the Columbus economy has shifted toward financial institutions, major retailers, and healthcare companies.

Throughout the 1990s and 2000s, the population of Columbus closely mirrored the larger U.S. population, and the city became known as a test market for new products. That attitude for trying new things, plus the community’s expertise from major Fortune 1000 companies (like JP Morgan Chase, Nationwide, State Farm, Cardinal Health, and L Brands) has created a fertile environment for startups, especially in fintech and insurtech.

In the 2010s pivotal players stepped into the scene. Established in 2011, JobsOhio (one of the top economic development organizations in the country) was founded to help drive job creation and new capital investment in Ohio. And in 2013, two ex-Sequoia investors moved from Silicon Valley to take a bet on Columbus. Mark Kvamme and Chris Olsen founded Drive Capital, a venture firm that recognizes all the opportunities that lie in between the coasts.

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Now, Drive Capital manages $1.2 billion, features twelve partners, has interest from 7,000 startups each year, and has a stake in some of the biggest players in the Midwest startup and tech scene. Olive, Drive’s first investment, is a healthcare AI startup that’s now valued at $4 billion.

Ever since, Columbus has exploded as a startup city, with new funding opportunities, top engineering talent from experienced industries as well as local universities (The Ohio State University being the largest), and a whole lot of excitement from major startup wins. After the acquisition of CoverMyMeds by McKesson Corp. in 2017 for $1.4 billion (Central Ohio’s first $1B+ exit), Columbus was officially on the map as a serious startup ecosystem.

“It’s the beginning of the wave,” Mark Kvamme said of the startup ecosystem during the Purpose Jobs State of the Columbus Startup Community event in 2021.

Funding in Columbus

One of the easiest indicators for spotting a successful startup hub is funding, and in …read more

https://techcrunch.com/2022/06/01/startups-in-columbus-ohio-are-thriving-and-hiring/