Digital innovation was alive and well in Indiana last year despite all the markings of a potential inflection point amid inflation, rising interest rates, fewer public listings, global supply chain strains, labor shortage, increasing geopolitical tensions, and the most complicated macroeconomic trends of the last few decades.  

Public filings and independent analysis showed 132 Hoosier tech companies reported $441 million in capital investment last year, the state’s second-highest amount of capital investment in tech companies since TechPoint began collecting publicly reported investment data. That detail is one of many in the comprehensive, 55-page 2022 Indiana Tech Venture Report, presented by Ice Miller and supported by Sikich and available free-of-charge. 

In addition to detailing state investments by stage, sector and region, the report compares the Indiana venture market to prevalent national trends, examines deal activity, deal value, investments and exits over time, sector activity and top tech verticals.  

Referencing the yearly totals, the report points out that the first three quarters showed strong momentum, but the fourth quarter slowed in both deal count and deal value, most likely as “a result of market uncertainty overhang, as more companies decided not to start fundraising in Q2 and Q3.” Most of them will need to come back out to market in 2023, which could lead to an uptick in both investment and M&A activities. 

The report also includes the state’s first benchmarking of diversity within the state’s venture support structure, intending to use 2022 as a baseline set from which we can measure and compare annually whether progress has been made through data. 

To help ensure quality data, we invite you to share your investment or exit transactional information with us by this form. If you represent one of these Indiana tech companies and it is not yet listed on the TechPoint Tech Directory, please add them today. The listing also enables you to post job openings on the TechPoint Job Board. For additional information and insights on Indiana’s tech sector, subscribe to the TechPoint Index newsletter. As Indiana’s tech industry champion, we run a number of programs to support digital innovation and venture development. Please check out Venture Connect, Venture Support, Indiana VCI Marketplace and Indiana CIO Network.