In terms of what’s happening on the public-policy front, this is a moment.īefore, the economic development game plan was, how do you get a big company to move or open a factory? Now, more people recognize that the new companies are going to be the sustainable-job creators.įinally, there is a level of collaboration focused on start-ups that didn’t exist before in most of these cities in the middle of the country. Some of the legislation that has passed-including the CHIPS Act that funds the development of regional hubs-tries to fund the industries of the future. We’ve also seen a lot of work in just these past few months at the federal level. A lot of people have been working on policies at the local level, like angel investor tax credits, in an effort to build innovation districts. We’re also seeing government at both the national and local levels lean into the opportunity in different ways. Those partnerships likely will be pivotal, so having companies closer to those potential partners is going to be a key advantage in this next wave. Technology is the table stakes-it’s the partnerships you have around technology that are so important.įor example, many of cities in the middle of the country have expertise in healthcare, whether it be Mayo Clinic in Minnesota, Johns Hopkins in Maryland, the Cleveland Clinic in Ohio, UnitedHealth Group in Minnesota, or HCA Healthcare in Tennessee.
This shift will require partnerships and collaboration, not just the technology. It’s a sort of boomerang.Īlso, as the internet shifts and starts dealing with the most fundamental aspects of our lives-how we stay healthy, how we move around, and other things like that-it will start disrupting big industry sectors. A lot of things have resulted in a dispersion of talent, as well, and people who left their work situations because of brain drain are now returning. In terms of the forces that are converging, the pandemic has been a shake-the-snow-globe moment: people are rethinking how and where they work, how and where they live, and remote work. They don’t realize the innovation that’s happening in dozens of cities all across the country. I think most people assume that the majority of innovation happens in places like Silicon Valley. Why did you write ‘The Rise of the Rest’ now?Īfter spending most of the last decade traveling around the country to dozens of American cities and meeting hundreds of entrepreneurs, I found their stories so mesmerizing and encouraging that I wanted to share them with other people. An edited version of the conversation follows. For years, these three cities have dominated the competition for seed funding and talent, but Case says pandemic- and technology-borne disruptions now pose an equalizing opportunity for noncoastal entrepreneurs. In pursuit of a more inclusive innovation economy, Case has run investment firm Revolution’s Rise of the Rest Road Trip tours for nearly a decade, visiting and investing in start-ups across the country, excluding the major venture capital hubs of Silicon Valley, New York City, and Boston. In this edition of Author Talks, McKinsey Global Publishing’s Raju Narisetti chats with AOL cofounder and Revolution CEO Steve Case about his new book, The Rise of the Rest: How Entrepreneurs in Surprising Places are Building the New American Dream (Simon & Schuster, September 2022).
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