Funding for Midwest healthcare startups totaled $758 million across 217 companies in 2013, according to BioEnterprise. The report, Midwest Healthcare Venture Investment Report, reflects that Midwest investments has remained strong, outpacing 2009 and 2010 in investment dollars attracted, PRNewswire reports. Minneapolis and Cleveland dominated the region along with their states Ohio totaling $296 million followed by Minnesota with $228 million. The top three sectors for equity funding in 2013 were:
- Medical device companies: $423 million (59%)
- Biopharmaceutical companies: $183 million (25%)
- Healthcare IT and service companies: $117 million (16%)
For complete state and region results across the Midwest, see the table below. To view additional data about Midwest healthcare business activity visit www.bioenterprise.com/reports. Table: Midwest Healthcare Venture Investment (By State)
| State | 2013 | 2012 | 2011 | 2010 | 2009 | |||||
| $ Millions | # of Cos. | $ Millions | # of Cos. | $ Millions | # of Cos. | $ Millions | # of Cos. | $ Millions | # of Cos. | |
| Illinois | 30.1 | 10 | 146.2 | 10 | 44.2 | 9 | 160.9 | 11 | 38.9 | 8 |
| Indiana | 31.9 | 18 | 64.7 | 11 | 14.1 | 9 | 25.05 | 16 | 76.3 | 14 |
| Iowa | – | – | – | – | – | – | 7.3 | 1 | 36.8 | 3 |
| Kansas | 10.2 | 2 | – | – | 18.5 | 2 | 14.5 | 13 | 4.3 | 5 |
| Kentucky | 10.4 | 2 | 33.8 | 4 | 11.5 | 7 | 11.4 | 4 | 97.3 | 7 |
| Michigan | 70.2 | 16 | 107.1 | 16 | 30.8 | 16 | 76.3 | 12 | 102.2 | 14 |
| Minnesota | 227.7 | 74 | 164.7 | 17 | 223.3 | 24 | 138.7 | 20 | 199.0 | 23 |
| Missouri | 19.1 | 7 | 57.2 | 6 | 168.7 | 9 | 19.9 | 9 | 65.8 | 8 |
| Ohio | 295.8 | 69 | 291.7 | 70 | 177.8 | 67 | 147.2 | 47 | 105.4 | 40 |
| Western Pennsylvania | 46.2 | 12 | 81.5 | 37 | 67.0 | 25 | 86.2 | 20 | 37.8 | 24 |
| Wisconsin | 16.8 | 7 | 48.8 | 11 | 53.8 | 9 | 51.3 | 9 | 16.2 | 10 |
| Total | 758.4 | 217 | 995.7 | 182 | 809.7 | 177 | 738.8 | 162 | 780.0 | 156 |
Table: Midwest Healthcare Venture Investment (By Region)**
| Region | 2013 | 2012 | 2011 | 2010 | 2009 | |||||
| $ Millions | # of Cos. | $Millions | # of Cos. | $ Millions | # of Cos. | $ Millions | # of Cos. | $ Millions | # of Cos. | |
| Chicago | 30.1 | 9 | 146.2 | 9 | 44.2 | 9 | 160.9 | 11 | 38.9 | 8 |
| Indianapolis | 20.6 | 11 | 64.7 | 10 | 11.5 | 7 | 18.5 | 9 | 41.2 | 9 |
| Louisville | 10.4 | 2 | 7.9 | 3 | 11.4 | 6 | 11.4 | 4 | 2.5 | 4 |
| Detroit-Ann Arbor | 65.2 | 10 | 107.1 | 15 | 23.0 | 10 | 46.5 | 8 | 68.8 | 7 |
| SW Michigan | 4.5 | 5 | – | – | 7.8 | 6 | 29.8 | 4 | 14.5 | 5 |
| Minneapolis | 227.7 | 74 | 162.4 | 15 | 223.3 | 24 | 138.7 | 20 | 199.0 | 23 |
| St. Louis | 19.1 | 7 | 57.2 | 6 | 112.7 | 8 | 18.9 | 9 | 27.8 | 7 |
| Kansas City* | 10.2 | 2 | – | – | 18.5 | 2 | 15.4 | 13 | 42.3 | 6 |
| Cincinnati* | 53.8 | 5 | 77.3 | 12 | 37.3 | 6 | 8.5 | 4 | 121.2 | 8 |
| Cleveland | 201.2 | 50 | 226.5 | 43 | 124.7 | 40 | 135.1 | 33 | 66.3 | 21 |
| Columbus | 40.9 | 14 | 13.3 | 11 | 15.1 | 19 | 3.1 | 5 | 12.4 | 13 |
| Pittsburgh | 46.2 | 12 | 81.5 | 37 | 67.0 | 25 | 86.2 | 20 | 37.8 | 24 |
| Wisconsin | 16.8 | 7 | 48.8 | 11 | 53.8 | 9 | 51.3 | 9 | 16.2 | 10 |
Featured image credit: ota_photos via Trading Academy
