For many private technology startups, 2015 was full of tailwinds that helped send valuations sky-high, including an eye-popping $51 billion valuation for ride-hailing service Uber.
Those winds have mostly subsided in 2016, and some investors have even moved to cut valuations. The impact of those trends on firms in the Midwest, however, should be fairly muted, according to industry experts at IBJ's Technology Power Breakfast on Thursday morning.
"I think it's pretty negligible, at least on a relative basis," said High Alpha partner Kristian Andersen, speaking about the pullback's impact on cities like Indianapolis, versus tech hubs on the East and West Coasts.
Outside the Midwest, industry leaders are forecasting depressed valuations and capital raises, and calling for companies to focus on bootstrapping and capital efficiency, Andersen said.
Reporter Technology, banking, finance
Council joined IBJ in September 2014. A graduate of Hampton University in Virginia, Council began his reporting career in 2010 at the Evansville Courier & Press. Prior to IBJ, he spent about two years at Inside Business in Norfolk, Va., where he won a Virginia Press Association investigative reporting award for a story on the infighting behind the ouster of Norfolk State University's president. The Philadelphia native lives in Indianapolis with his wife. He'll root for the Colts as long as they're not playing the Eagles.