The tech revolution is no longer confined to Silicon Valley or the California statehouse.
Earlier this week, Steve Case announced that his Rise of the Rest seed fund, designed to invest in innovation in the Mid West and other areas traditionally overlooked by investors, had raised $150 million with commitments from tech executives including Jeff Bezos and Eric Schmidt.
We are, as Peter Hirshberg recently put it on this show, at a cambrian moment in terms of the technology industry’s evolving role in American economic, social and political life.
Take Rhode Island, the little New England state which pioneered the American 19th century industrial revolution.
Its 47 year-old Governor, Gina Raimondo, is a former VC at and Point Judith Capital whose pro-innovation policies have made her a rising star in the national Democratic party.
Rhode Island, Raimondo insists, with its cluster of high quality universities like Brown and Rhode Island School of Design, fits “perfectly” into Steve Case’s thesis about the opportunities outside Silicon Valley for smart entrepreneurs and investors.