• Industry News

    Tech momentum in Charlotte and Indianapolis

    The IT sector is gaining new ground in plenty of locales outside of the South Bay.

    With a heavy concentration of major tech talent in Silicon Valley, California, it would be fair to wonder just how much growth potential remains for the IT field. The sector has already seen so much year-over-year growth in the past decade, sprouting from a wide range of emerging strategies – cloud computing, BYOD, enterprise video conferencing, data center expansion, etc.

    However, it seems quite clear that many of these relatively new innovations are just beginning to tap into their true market potential. Chief executives around the world are adopting these technologies and finding ways to implement them into their business models. It's been a gradual process for most. And as tech engineers and IT workers continue to develop more tools for the digital workplace and ease the transition process, they will keep finding employment opportunities. Meanwhile, the sector is also gaining new ground in plenty of locales outside of the South Bay.

    Optimism for the tech sector in Charlotte, North Carolina
    Shortly after closing a new $390 million tech fund, Richard Maclean, a managing partner with investment firm Frontier Capital, spoke with the Charlotte Business Journal about the state of the industry. He said that there are a number of successful tech stories in Charlotte, many of which are under the radar. He also believes that the region has plenty of tech momentum going forward.

    "Some people believe there's a bubble in private-owned tech, even more than the public markets," Maclean told the publication. "But in the part of the market where we play, we really don't see that. The great growth aspects of our companies have a great story and market opportunity. They have attractive options to be competitive. We're seeing really nice value in the lower middle market."

    The gradual tech emergence in Indianapolis
    Tim Kopp, the chief marketing officer for ExactTarget, told the Indianapolis Business Journal that the city is still feeling the ripple effects of Salesforce.com's $2.5 billion acquisition of his company in 2013. For example, the news outlet noted that investors from outside of the state are beginning to pay attention to local tech activity.

    He added that plenty of regional talent has led tech companies from Chicago and other cities across the country to set up shop in Indianapolis.

    "It's really to take advantage of all the things we're seeing in our ecosystem," Kopp told the news outlet. "I have the opportunity to travel all over the country, all over the Midwest, and I wouldn't trade the ecosystem that we have for any."