Indianapolis, November 3, 2022 – Powderkeg, the nationwide private membership network supporting tech leaders in fast-growing communities, is announcing today a new partnership with Elevate Ventures to help Indiana tech companies build momentum and national brand awareness to attract talent, customers, and capital to the state.
Because of the shift to remote work, fast-growing tech communities like those in Indiana have more opportunity for growth than ever before. The new partnership between Elevate Ventures and Powderkeg provides a platform for Indiana tech companies to attract and engage talent, customers, and venture capital from across the U.S.
According to recent jobs data from national trade organization Tecna, remote jobs in the tech industry increased by more than 420% between 2020 and 2022. The new partnership between Elevate Ventures and Powderkeg brings new media, education, and software tools to Indiana tech companies to attract and engage with talent exploring remote jobs, careers in tech, and jobs in Indiana.
Powderkeg uses proprietary data to organize and curate the top tech companies and jobs in the fastest-growing communities in the country, including Indiana. Executives in their private membership network have access to thought leadership opportunities and software tools that help grow their personal brand while raising the profile of their company.
Powderkeg was founded in Indianapolis before the global pandemic and is led by two experienced Indiana entrepreneurs: CEO Matt Hunckler formerly founded national tech event and media company Verge and led ChaCha spinoff Social Reactor; while CTO Rick Wehrle built the first job board on the internet and led the founding engineering team at Monster.com for over a decade before the company went public.
“Like most tech startups, our business went one hundred percent virtual in 2020,” said Matt Hunckler, co-founder and CEO at Powderkeg. “Rather than seeing participation drop off in our network, we’ve seen an explosion of growth with our online platform as more people have looked to transition into, and invest in, the tech industry. We’ve also seen more tech companies and professionals relocate to growing communities beyond Silicon Valley, like we have here in Indiana. We’re excited to partner with Elevate Ventures to help talent, companies, and investors plug into the state’s robust tech ecosystem.”
The past several years has seen accelerated venture capital investment in areas beyond Silicon Valley. According to a recent report co-produced by venture firm Revolution and PitchBook, the Bay Area’s share of venture capital fell from nearly 40% in 2014 to 27% in 2021. This growing share of venture dollars is being invested into states like Indiana, which saw historic levels of venture investment last year.
With today’s partnership announcement, Powderkeg and Elevate Ventures also unveiled a new in-person event series in Indiana to amplify success stories from hoosier tech executives and attract more resources to growing startups. New Indiana awards and investor-matching events will help Indiana tech companies attract capital, talent, and customers while including the state in other national and regional programs run by Powderkeg.
“Powderkeg is a key player in the national tech ecosystem and being Indiana-based has helped hundreds of innovative Indiana companies build momentum and gain national exposure,” said Christopher Day, CEO at Elevate Ventures. “We’re excited to help take that to the next level with this new partnership that will amplify the success stories from around Indiana and bring back in-person tech events to help bring more capital and talent into our community.”
Elevate Ventures has been the most active venture capital firm in the Great Lakes Region of the United States since 2017, according to venture capital database PitchBook. The new partnership with Powderkeg will connect Elevate Ventures and its portfolio companies with a national network of tech executives, talent, and investors. Powderkeg’s proprietary software facilitates warm introductions between its members and thousands of verified professionals at top tech companies and VC firms throughout the country.