Birmingham Startups Take a Turn in the Spotlight
When Target bought Birmingham-based Shipt, the online grocery delivery service last year, it drew attention to the city’s tech startup scene. Local entrepreneurs get another chance in the spotlight this week. AOL co-founder Steve Case brings his Rise of the Rest tour to the Magic City Wednesday. There will be a pitch competition with $100,000 in seed money going to the winning concept. But overall, it’s an effort to highlight startup communities that aren’t in tech hotbeds such as San Francisco and New York. Case spoke with WBHM’s Andrew Yeager.
The tour stems from Case’s venture capital firm Revolution and is aimed at highlighting and investing in startups away from the traditional tech hubs on the coasts.
The majority of venture capital goes to three places – Silicon Valley in California, New York and Boston. Even places such as Chicago and Seattle only pull down a sliver of the money.
But Case says entrepreneurial activity outside of those top markets is an “untold story” that many investors aren’t focusing on.
“You’re starting to see some of the next breakout successful companies not on the coasts but in the middle of the country,” says Case. “I think people will be surprised over the next decade how these cities rise.”
Case says smaller markets are showing expertise in specific sectors such as agriculture technology in St. Louis or robotics in Pittsburgh. He says that specialization is essential as what he calls the “third wave” of the Internet develops where technology transforms established industries from healthcare to energy to education.
Case also says the pull of entrepreneurs to the coasts is slowing a bit with people either staying in or returning to smaller cities.
“There’s opportunity in places like Birmingham. They don’t have to be in San Francisco or New York to pursue their dreams,” says Case.
Big tech companies–most notably Facebook– are facing something of a backlash over issues of influence, privacy and control of information. Case says he’s not surprised to see that as technology has pushed farther into daily life. He also believes that may encourage investors to look outside of the traditional tech hubs.
“The question is which [cities] really rally as cities, as communities to capitalize on that opportunity,” says Case.
And Case says to establish a level playing field with the top markets, it’ll take places like Birmingham celebrating its own startups in an effort to attract more talent and money.
Birmingham’s Bengali community breaks barriers with annual Durga Puja
Durga Puja is a Bengali celebration during the 9-day long Hindu festival of Navratri, which celebrates divine feminine energy in all forms. Across India, celebrations vary in scale, focus and tradition.
The UN mission appeals to the Taliban to restore internet access in Afghanistan
The outage was the first nationwide shutdown since the Taliban returned to power in August 2021 and was part of their professed crackdown on immorality.
With therapy hard to get, people lean on AI for mental health. What are the risks?
People are using ChatGPT and other artificial intelligence apps to help them with emotional issues, but experts say they are not a substitute for therapy or companionship.
Germany thrived in the first China Shock. But the next one could prove catastrophic.
The export-led industrial model that Germany has pursued for decades is now at a crossroads.
Memphis and Portland, Ore. brace for troops. Why Chicago might be next
Illinois Gov. JB Pritzker said the Department of Homeland Security has requested for 100 military personnel to help protect ICE agents and facilities in his state.
5 takeaways from the U.S. ceasefire proposal for Israel and Hamas
The leaders of the U.S. and Israel say they have agreed to a broad plan that could end Israel's war in Gaza. But substantial uncertainties remain.
