Angel investors betting on Chicago’s tech startups

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More good news for Chicago entrepreneurs, particularly those working in the tech sector.

According to a story in this week’s Crain’s Chicago Business, Chicago tech startups received $16.1 million in angel investment last year, up more than 38 percent from 2010. The growth here rate far outpaces the overall national trend. Across the U.S., “angels” upped their investments by just 4.4 percent year-over-year.

Chicago’s strong numbers reflect an overall surge in start-up activity here spurred in part by “a sense of euphoria” surrounding locally based Groupon’s $700 million I.P.O. last fall, says George Deeb, managing partner of the startup advisory firm Red Rocket Partners. He tells Crain’s:

“There are a ton more startups in Chicago today than there have ever been, and what’s driving that excitement is that entrepreneurs have seen what happened with Groupon and are motivated to build the next big thing.”
Click here to read the full article from Crain’s.

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