Indiana’s Tech Transformation: Adapting to a Changing Landscape
In this insightful episode of "Venture Declassified," hosts Ben Pidgeon, Mike Kelly, and Jacob Schpok join guest Toph Day to explore the rapid shifts within Indiana's burgeoning tech ecosystem. The discussion centers on the theme of "Innovate or Evaporate," emphasizing the need for businesses to adapt to swiftly evolving technological landscapes, particularly with AI advancements.
Toph illustrates this urgency with the example of Chegg, a company that saw its valuation collapse due to AI tools like ChatGPT. The conversation underscores the necessity for startups to harness modern tools like low code and no code platforms for competitive advantage, as highlighted by Mike's experience using Bubble to launch a tech venture.
The episode delves into the exciting concept of tech convergence—blending software with hardware to form unique innovations. This theme is portrayed as crucial for companies aiming to stand out in today's market. The hosts provide valuable insights on strategic investment in this new era, and that understanding these elements is key to thriving in a quickly changing landscape.
In a compelling segment, Toph declares Indiana the "Innovation Capital of the World," backed by its rich infrastructure, impressive talent pool, and collaborative environment, positioning the state as a prime hub for entrepreneurial endeavors.
Listeners are encouraged to tune in for a thorough examination of Indiana’s role in the global tech scene and gain a deeper understanding of how businesses can ride the wave of innovation to stay ahead in their respective fields.
Guest Bio
Toph is the CEO of Elevate Ventures, the #1 most active Seed and Early Stage investor in the Great Lakes Region, top ten in the US and top twenty in the world. He is also the Chief Visionary for Rally, the largest cross-sector innovation conference. He is an innovator, entrepreneur, business creator, community builder, job maker and wealth creator throughout his endeavors over the last 30 years having co-founded eight businesses in seven different sectors with multiple exits to Fortune 500 companies.
He has led companies across multiple sectors including artificial intelligence, SaaS, hardtech, broadband, entertainment, investment banking and real estate. He is also an IBJ 40 under 40 and top 250 most influential and impactful leader.
Key Topics
• Impact of AI and Technological Advancements: Discussing the shift in how companies need to approach building software products.
• The importance of disrupting oneself and innovating internally
• Introduction of low code/no-code platforms and their impact
• Investment Strategies and AI in Business: The difficulty in making long-term software investments.
• Indiana's strengths in infrastructure, talent, industry, and cost of living.
• Encouraging Indiana’s Entrepreneurial Ecosystem: Promoting a culture of risk-taking and innovation.
Connect
Mike Kelly
• Website
Ben Pidgeon
Jacob Schpok