Steve Case, entrepreneur and author of The Third Wave, quoted in TIME Magazine.
“Last year, over three-quarters of venture capital went to three states: California, New York and Massachusetts. The concentration of wealth and talent has created a divide. But there is reason for optimism.
“First, in the next era of innovation, companies seeking to disrupt entrenched industries–agriculture, energy, transportation, health care–will head to places where those sectors and expertise exist.
“Second, this regionalization of entrepreneurship is fueled by improved access to capital and the beginnings of a talent boomerang. Regional venture funds, for example, are fueling expansion. People from cities like Omaha and Des Moines are returning, sensing an opportunity to be part of the startup renaissance at home.
“Geographic diversity is vital to the future. Startups account for nearly all net new job creation. And they can become engines of economic growth. The communities they form, the talent they attract and the innovations they pursue can transform cities and those who live in them.”