Wechsler: Challenges remain in Indiana’s tech sector
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIt’s been 25 years since Inside INdiana Business debuted on television, and in that time, the state’s tech sector has realized some major gains. John Wechsler, founder and CEO of Fishers-based Spokenote, says officials set some audacious goals 25 years ago to build the tech economy in Indiana, and there is more that can be accomplished.
“[We sought] things like access to capital and direct flights, and Daylight Savings was on the list,” Wechsler said. “We accomplished a lot of that. We still have a little work to do, but it’s been a fun run.”
In an interview on Inside INdiana Business with Gerry Dick, Wechsler said challenges remain, especially in the venture capital area.
“Our early stage entrepreneurs have done a whole lot better at finding capital, seed stage, Series A kind of capital, but the real challenge is in that growth stage, and that causes the entrepreneurs to have to tap out a little early, whether it’s selling the company earlier than they wish because it’s really hard to them to find access to that capital. That’s probably the next big challenge for the state.”
Wechsler is also founded Launch Fishers and the Indiana IoT Lab in Fishers and said the network of coworking spaces throughout the state has contributed to the growth in Indiana’s tech ecosystem.
“You go small towns, whether it’s Terre Haute or you go to Huntingburg and you look at their Current Blend, their coworking space, we have 60-plus now of those locations around the state all working together to make sure that the state’s innovation economy is healthy and strong.”
While Indiana may not have been on the radar of site selection firms 25 years ago, Wechsler believes that has certainly changed, and Indiana has the potential to continue growing as a major player in the tech world.
“We compete favorably with major tech economies across the country, whether it’s D.C., whether it’s the Silicon Valley, our strengths here are undeniable with our access to amazing talent out of these universities. And companies are recognizing that.”
Wechsler adds the university focus for talent will bring beneficial for the state in the future.
“I think it’s super exciting with Purdue University and Indiana [University] both kind of charting their courses here, but collectively, I think we’re going to see a lot of strength in that,” he said. “And that’s really going to attract more investment, more outside capital into our state, and I think the future’s very bright.”