THE RISE OF THE REST

An iconic entrepreneur shows how a new generation of American business leaders is taking shape in the vibrant cities of the heartland.

Case, author of The Third Wave, co-founded America Online and the investment firm Revolution LLC. In 2017, he set up an initiative called Rise of the Rest with the aim of revitalizing fading cities by developing an innovative startup culture. Because 75% of the country’s venture capital goes to California, New York, and Massachusetts, entrepreneurs elsewhere often find it difficult to obtain seed funds. Case’s initiative was armed with a bucket of funds contributed by investors such as Jeff Bezos and Ray Dalio, and the climax of each stop on their nationwide bus tour was a pitch competition with a $100,000 investment prize. In addition to the cash prize, Case’s group provided important advice and contacts. From the beginning, Case wanted to focus on Black and women entrepreneurs, who often find the startup road particularly challenging. The author delivers an abundance of stories about companies with significant potential and vision, but their chances of success increase dramatically if they have a supporting ecosystem of talented people and infrastructure. City and state governments can help to provide this structure, and where they have, there is often a sense of renewal. The pandemic was a setback, but there was a silver lining: Many ambitious people left their jobs in San Francisco, New York, or Boston to return to their home cities, leading to revivals in places like Omaha, Chattanooga, and Green Bay. The shift toward remote work was also a positive for many emerging businesses. In fact, it seems that the pandemic provided a boost to the startup community nationwide, with 5.4 million new business applications filed in 2021. Case also emphasizes the importance of follow-through on the Rise initiative, and he established a system for ongoing contact and monitoring.

Inspiring stories from unexpected places showing that the entrepreneurial spirit is alive and kicking.