This is a volatile indicator. Venture capital investment in Michigan in 2015 was 40% higher than 2014, and higher than any year since at least 2006. It was also significantly lower than the “Top Ten” average, both in terms of level and growth. Venture capital investment in Michigan was behind all of its peer states except for Indiana, Ohio, Tennessee, and Alabama.
What It Is: Total capital infusions by venture capital funds and investors per $100,000 in nominal GDP.
Why It Matters: This measure indicates a state’s leadership in innovation and entrepreneurship and its ability to attract funding for high-risk firms.