Rise of the Rest wants to start tech companies outside of Silicon Valley, and Barack Obama is interested in helping. A new Wired story dives into the efforts of AOL founder Steve Case, who started Rise of the Rest to locate venture capital funding in new areas, namely those in between the two coasts. This week, Obama hosted some of the 2018 Rise of the Rest summit attendees in his Washington D.C. office. The discrepancy in where funding goes is vast, as 75 percent of VC funding went to companies in California, Massachusetts, or New York in 2016. According to Case, Wisconsin companies struggle to raise the same funding in a year that California companies do in a year. Obama’s interest will certainly bring more attention to Case’s project.
Thanks for reading InsideHook. Sign up for our daily newsletter and be in the know.
