Tech in 2022: There’s More Than One Story
You could call 2022 a rollercoaster year, but at least with rollercoasters you know when the ride will end. It’s difficult to fully capture the ups, downs, twists and turns of the past year for tech entrepreneurs and investors but especially for Heartland tech entrepreneurs and investors.
In this edition of The Mid-Point, we’re looking back on the past year and trying to make some sense of it. And as I review the headlines, the data, and the collective conversations that One America Works has hosted, it’s clear that the real story of the U.S. tech sector today is that there’s more than one story.
These days it’s hard to avoid the grim financial news coming out of Silicon Valley and other traditional tech hubs: Layoffs, hiring freezes, and stock selloffs. Until recently, this storyline would have defined the entire tech industry.
But in 2022, the tech world is different. Whether it’s semiconductor manufacturing, EV battery plants, other clean technologies, VC deal volumes, or rising tech employment, the cities and states of the Silicon Heartland are writing their own storyline – and it’s an exciting time.
Coming up, we’ll look ahead to 2023 and highlight the trends to watch.
Inside this issue
- 2022 Year In Review: As Big Tech Stumbles, the Silicon Heartland Continues to Rise
- After Q3 2022, Pittsburgh Is on Track for a Standout VC Year
- Electric Battery Company Building $2.6B Plant in Atlanta
- OAW Connect: Expand Your Network with Thought Leaders Around the Country
- Virtual Robotics Recruitment: One Application Connects You with Several High Growth Companies!
Some of the world’s best-known tech companies have fallen on tough times. But away from the coasts, tech firms continue to raise capital and grow, and tech professionals continue to advance their careers. These counterfactuals may be harder to spot, but they paint a more complete picture of how the U.S. tech sector is evolving and becoming more geographically diverse. One America Works is focused on supporting and accelerating this evolution, and we are most active in 13 cities across the Silicon Heartland. In 2022, these cities had a remarkable year, even in the face of post-pandemic uncertainty and economic headwinds. Read More
According to PitchBook and the National Venture Capital Association, Pittsburgh’s startups brought in $171.96 million across 19 deals across July, August and September 2022. Overall, Pittsburgh companies have already raised a total of $518.54 million in 2022. That’s compared to 2021’s total of $373.98 million across all four quarters — and it’s looking like 2022 is on track to be one of Pittsburgh’s best years for VC, ever. It also appears that Pittsburgh is bucking the national trend of deals being down. Read More
Freyr Battery, a clean-tech startup, will invest $2.57 billion in an electric battery factory in metro Atlanta, creating hundreds of jobs and further cementing Georgia as a hub for the sector. In recent years, Georgia has been courting companies that produce electrified products of all types, from electric vehicle manufacturers to battery suppliers and recyclers. Georgia has announced 30 electric mobility-related projects since 2020, totaling more than $13 billion in corporate investments and nearly 19,000 promised jobs. Read More
Upcoming Event: OAW Connect
Meet investors and founders from across the Heartland on Thursday, December 8 from 1-2:15pm ET. Whether you’re a founder, investor, or community connector, this virtual event is a great opportunity to make meaningful connections across the country. Plus, hear all about our OAW 2023 Cities Tour and how you can be a part of it! Learn More
OAW Event: Virtual Robotics Recruitment
Over the next few weeks, One America Works is hosting a Virtual Robotics Recruiting Event. Complete one application to get connected with several high growth companies like Astrobotic, Waymo, Duality and many more. Visit our events page to sign up and view our full list of partners. Register Here
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