Venture capitalist Brad Feld says it takes about 20 years to grow a strong tech ecosystem. So with that time frame, Peoria, Ill. hasn’t even reached its rebellious teenage years.
But if you talk to entrepreneurs and investors in Peoria, there’s an undeniable energy happening around startups and innovation in the Central Illinois town that sits 160 miles Southwest of Chicago. Though Peoria’s 116,000 residents are just 20,000 more than Chicago’s Lakeview neighborhood, the town packs a business punch anchored by Fortune 100 company Caterpillar and bolstered by startups that have garnered national attention. It may still have a ways to go before it catches up with Chicago, or even neighboring Central Illinois anchor Urbana-Champaign. But it’s certainly growing up.