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Medical Device Startups Leads The Midwest In VC Funding In First Half of 2013

by Jasmine Pennic 07/25/2013 2 Comments

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Medical device startups lead the Midwest with $188 million in total equity funding in the first half of 2013, according to the BioEnterprise Midwest Healthcare Venture Investment Report.  Biopharmaceutical companies reported $84 million followed by Healthcare software and service companies with $72 million as the leading sectors in funding in the Midwest.

Overall, Midwest healthcare startups reported $351 million in total investments across 117 companies down from $510 million in the year ago period.

The report shows active growth in the Midwest with Ohio leading the way in total financing with $155 million up from $126.4 million followed by Minnesota with $69 million down from $86.1 million in the first half of 2012.

Cleveland, Minneapolis, and Cincinnati were the top three cities for healthcare startups investments in the Midwest.

See below to view additional data about Midwest healthcare startup investing activity

 Midwest Healthcare Venture Investment (By State)

State

First Half 2013

First Half 2012

First Half 2011

$

Millions

# of

Cos.

$ Millions

# of Cos.

$ Millions

# of Cos.

Illinois

27.1

4

84.3

4

18.0

1

Indiana

11.7

5

51.6

9

10.5

4

Iowa

–

–

–

–

–

–

Kansas

7.0

1

–

–

3.0

1

Kentucky

–

–

25.9

2

4.1

4

Michigan

37.9

6

55.9

9

21.8

5

Minnesota

69.3

45

86.1

9

88.3

13

Missouri

14.1

6

32.4

1

32.2

4

Ohio

154.9

38

126.4

44

80.1

25

Western Pennsylvania

17.3

8

32.8

12

8.2

12

Wisconsin

11.5

4

15.2

7

49.0

6

Total

350.8

117

510.6

97

315.2

75

Table: Midwest Healthcare Venture Investment (By Region)**

Region

First Half 2013

First Half 2012

First Half 2011

$Millions

# of

Cos.

$ Millions

# of Cos.

$ Millions

# of Cos.

Chicago

27.1

4

84.3

4

18.0

1

Indianapolis

1.6

2

50.5

8

10.5

4

West Lafayette

0.2

2

–

–

–

–

Louisville

–

–

N/A

1

4.1

3

Detroit-Ann Arbor

37.9

5

55.9

9

21.8

5

Minneapolis

69.3

45

86.1

9

88.3

13

St. Louis

14.1

6

32.4

1

32.2

4

Kansas City*

7.0

1

–

–

3.0

1

Cincinnati*

42.0

3

40.2

5

23.8

4

Cleveland

79.1

27

104.1

34

50.2

18

Columbus

33.7

8

8.1

6

6.1

14

Pittsburgh

17.3

8

32.8

12

8.2

12

Wisconsin

11.5

4

15.2

7

49.0

6

 
 

Featured image credit: MyTudut via cc

 

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