Seven Indiana cities are included in the 2023 Best of the Midwest: Startup Cities Rankings, with Indianapolis maintaining its position at No. 3. The list from Midwest Startups, which highlights startup and venture capital activity in the region, ranks cities based on startup activity, startup founders' access to resources and business climate.
While Indy held its position, Bloomington was one of several Hoosier cities that improved its ranking, moving up one spot to No. 14. Victor Gutwein, managing director of M25, which oversees Midwest Startups, said the city constantly scores impressive numbers.
“Bloomington has the highest number of deals per VC located there. That means it's done a great job of attracting outside capital to invest there (and that there aren't many VCs based in Bloomington, a small market just an hour from Indianapolis),” Gutwein said. “It has impressive startup momentum, adding 22 startups from 2018 to 2023.”
The other Indiana representatives on the list are:
- 16 – Lafayette
- 19 – South Bend
- 24 – Fort Wayne
- 34 – Evansville
- 39 – Terre Haute
The top five in this year's ranking also includes Chicago, Minneapolis, Pittsburgh and Columbus, Ohio.
You can see the full list and methodology from by clicking herm.
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