3 Signs Which Suggest Indiana Will Lead the Future of Innovation and Technology
Indiana is one of the states most likely to drive the future of innovation and technology. Why do we say that?
Increasingly more growing tech companies are setting up their businesses here, hiring local talent and fostering a climate which promotes change.
Today’s entrepreneurs, who are making their living in the digital industry, are advancing their businesses and making their mark in the industry. In 2016, 22 Indiana Tech companies made it into Inc. 5000 ‘Fastest Growing’ list.
In this article, we’re going to dig deeper into this subject and look at facts which show tech grows in Indiana.
1. Indiana Has a Culture of Innovation and Technology
Agriculture and manufacturing – these are the first two industries many people associate with Indiana’s economy.
However, although these industries have sparked tremendous growth in the past, there are many other pieces Indiana’s innovation puzzle.
In the past two decades, Indiana has proved that it is open to change and the adoption of new technologies.
And this is an important aspect because creating and sustaining a culture of innovation revolves around having the right mindset, one which accepts that change is imminent and embraces this reality.
By maintaining a climate in which new ideas and risk-taking are encouraged, the Hoosier State has managed to build a strong culture of innovation which fires breakthroughs.
2. The State Is a Hot Spot for High-Tech Companies
One of the main factors which have contributed to this growth is that the state has become increasingly more appealing for big corporations in the tech industry.
Here are some of the assets which have turned Indiana into a magnet for tech companies:
- A steady supply of high-talent workforce. Indiana’s institutions of higher education (such as Indiana University, Purdue University and Rose-Hulman Institute of Technology) provide employers with a constant stream of skilled applicants qualified to fill in their positions.
- Affordable living. The cost of living in Indiana is far more reasonable compared to how much it costs to live in other important tech centers located on the West and East Coasts, for example.
- The low-tax business climate with fewer regulatory barriers. The cost of doing business in Indiana is significantly lower compared to other states like California, for instance.
3. Indiana’s Entrepreneurial Climate Is Thriving
Entrepreneurship is one of the key motors which drives innovation.
Indiana has a booming community of savvy entrepreneurs who support each other and understand the importance of exchanging ideas.
The sense of community here is stronger, as compared to other parts of the country.
The success of the innovation and technology events meant to bring entrepreneurs, business and community leaders together is proof of that.
And when passionate, like-minded people get together and exchange ideas, incredible things happen.
To Sum Things Up
Innovation and technology advancement don’t happen by chance. They require time, money and resources – an investment Indiana is making consistently.
When you add it all up, you can see why Indiana has become a tech heaven where innovation can blossom.
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