Where is Masayoshi going to deploy the $100B? The recent announcement by Masayoshi Son of @SoftBank and President-Elect @realDonaldTrump of a $100B investment pledge in tech and AI promises to create 100,000 jobs and transform the tech landscape in America. This pledge represents an opportunity to rethink where these investments could go—and the answer lies in the Great Lakes region. Data is the new oil, and the Great Lakes Region is its wellspring. The Great Lakes region, often overlooked in conversations about tech innovation, is a hidden gem with immense potential for AI development. While Silicon Valley has traditionally dominated tech investments, the Midwest offers a unique advantage: a rich concentration of industries producing massive amounts of valuable data. Manufacturing—the backbone of the region for over 150 years—spans industries ranging from automotive to chemical production. It also has strong footholds in metal goods, healthcare, insurance, and medical devices, creating a data trove ripe for AI applications. Combined with the region’s strong work ethic and labor force, the Midwest is an ideal testing ground for innovations like predictive analytics in manufacturing and AI-driven water management technologies. The Midwest’s Growing Tech Ecosystem Over the past decade, the Great Lakes region has experienced significant growth in venture capital, tech accelerators, and innovation hubs. In 2024 alone, great progress has been made in states across the region. (SEE THREAD) Midwestern states continue to fuel their innovation economies. Meanwhile, leaders like @JDVance, @VivekGRamaswamy, and @berniemoreno, all from Ohio, are set to shape national strategy with a deep understanding of the region’s opportunities. @berniemoreno The $40B Opportunity @PitchBook's Q3 2024 report reveals an imbalance of investment dollars. The number of venture deals across the states are balanced 50:50 between tech hubs (Silicon Valley) and non-tech hubs. Of the projected $175B invested in 2024, non-tech hubs will only receive ~$50M, representing 30% of the total. This imbalance underscores a significant opportunity. If dollars invested between tech hubs and non-tech hubs were to be balanced (50:50), it would represent a shift of $40B — capital that could be injected into the American heartland. If this shift is going to be actualized, many questions are left to be answered: How do we make sure this shift happens in favor of this region? How do we convince investors of the opportunity that lies here? Which university endowments should be investing in the area it's surrounded by? How do we get talented students graduating from those universities to stay in the area? What infrastructure do we need to build? What community needs to be here? The Time is Now As another sign of the momentum building in the region, we have seen an incredible response to the launch of the Great Lakes VC Summit. @RefineryVC was a part of the team to kick-off the Great Lakes VC Summit. By fostering a culture of community, connectivity, and trust, we are energizing efforts to keep talent and dollars in the region. @grandvcp @mercuryfund @EgatewayCapital @kdumot But more is needed. SoftBank’s $100B pledge is an opportunity and a call to action for the region. The Great Lakes region is ready to lead America’s AI revolution. With its rich industrial heritage, robust talent pipeline, and growing venture capital ecosystem, the Midwest is no longer just the backbone of manufacturing—it’s poised to become the strategic data source of AI. Now we pose the important question: How are we going to attract that $40B? #SoftBank #Midwest

going to be an interesting #askAVC show tomorrow with @Schigel of #RefineryVC, one of the few VC firms in the Midwest with a Silicon Valley outlook on what makes for entrepreneurial success. Sign for here and ask Tim your questions meetRefineryVentures.eventbr…

Check out the finale of Season 5. CEO of @Cintrifuse, @pblackshaw walks through his approach to growing Cincinnati’s innovation and startup economy, incorporating corporate support, and nurturing the next generation of entrepreneurs. #startupcincy fastfrontiers.refinery.com/p…

Check out Season 5 of @FastFrontiers - Former Executive Vice President Of Global Business Development at @Cooley, @CarlGrant, walks through his entire entrepreneurial journey, and shares his valuable insights. #VentureCapital #Entrepreneurship fastfrontiers.refinery.com/p…

Episode 3, Season 5 of @FastFrontiers - EVP of @BoozAllen, @SteveEscaravage, walks through the hurdles to A.I. development, how it’s being used in the startup and corporate world, and where it’s going. #FastFrontiers #VentureCapital #ArtificalIntelligence fastfrontiers.refinery.com/p…

Today at #Nexus22, senior panelists explore the investment landscape for defense autonomy: a 🧵. @AtlanticCouncil senior advisor @steverod78 kicks off the discussion by asking: what needs to happen to turn new technologies into actual warfighting capabilities? 1/5

The next episode of Season 5 is out now. Founder & CEO of @ParkWhiz , @TheAashishDalal walks through growing the company's footprint, naïveté about investor capital, and ultimately the business lessons and relationships that helped ParkWhiz find success. #FastFrontiers

Season 5 of @FastFrontiers has started. Catch guest Brian Cobb, Chief Innovation Officer at @CVGairport. We discuss the innovative solutions that have transformed the airport into a business hub. #FastFrontiers

Congratulations to our friends @tealbook and all the companies in the top 100.

CEO Tobin Fisher explains that with the focus of Refinery Ventures being on companies in #hypergrowth, it's been a huge help for Vantage Robotics to have someone to assist/advise them. Having a strong advocate, investor, & cheerleader is a major catalyst for growth. #Innovation

Congratulations to one of our early Fund II investments Vantage Robotics, on its strategic partnership with @JobsOhio. Not only do we get to work with great people but we also continue to fulfill our mission of contributing to #innovation & economic growth in the Midwest & Ohio.

The process of making high-performance drones, ones that are pushing the limits of what's been done before, combines many hard things into one little package, that it tends to give everyone involved a very healthy dose of humility. - Tobin Fisher of Vantage Robotics #Leadership

Tobin Fisher CEO of Vantage Robotics shares how they went from a consumer-focused business to a commercial-focused one after being approached by CNN. "We look for applications where we can do something that is meaningful and valuable for our customers with drones." #Innovation

We are celebrating our new $36M Fund II! Thanks to all of our amazing portfolio companies, employees, co-investors, & advisors for their ongoing partnership, passion, and results. We are breaking new ground as a fund based in Cincinnati. techcrunch.com/2022/01/04/re… #venturecapital

#Innovation is happening here: @RefineryVC closes $36M fund, @GEAviation is developing sustainable aviation fuel, @Contact_CI shows off #tech @CES, @uofcincy researchers are working on a new treatment for mental health disorders, & more. Details: bit.ly/3IfvxYu #startups

Refinery Ventures is celebrating an exciting milestone! Our Cincinnati-based venture firm is thrilled to announce the close of our second fund with nearly $37 million—an impressive amount that was more than twice the amount of our inaugural fund. #VentureFunds #FastFrontiers

This is just a highlight reel of our most listened-to #podcasts of 2021, so you can imagine the wealth of information & advice available in the many other podcast episodes we’ve recorded. To listen to each in full, head over to our website. bit.ly/3rdXaZq #FastFrontiers

“It’s natural to fall in love with the solution because you’re excited about the construction and the art and the science of how it came together in order to solve this problem. But [what] happens is you eventually lose sight of that problem..." bit.ly/3n8yKRi

📣📣📣 Calling all #MidwestStartups enthusiasts! We're looking for your Midwest startup predictions for 2022! Share your predictions on the next Midwest Unicorns, big VC fund raises, or what cities are moving up for the Midwest Startups 2022 City Rankings below!👇

Ethan Batraski, Partner at Venrock, joined us for Season 3 Episode 3 of #FastFrontiers. Among the lessons he has learned is to make sure you know the primary problem your #startup is solving & understand the market you are entering with your solution. bit.ly/3n8yKRi