Indy tech sector is growing in size, but not in U.S. job market share

A lot of sunshine has beamed down on the Indianapolis metro tech sector in recent years. But according to a recent report, at least one ominous cloud hangs overhead.

John McDonald, founder of Fishers-based internet of things integrator ClearObject, agrees with Jones that Indianapolis must double its rate of growth. That’s no small task, he admitted, “but neither was getting where we are. And we’ve done that.”

“We have done wonders in the tech sector to get to the middle of the pack, but there’s so much more we can do,” said McDonald, who is now a partner with newly formed local venture firm Boomerang Ventures.

Local tech leaders said three ingredients are needed to accelerate growth: ideas, capital and talent.

“We have lots of great ideas, but in the other two areas, we’re not great,” McDonald said.

He’s convinced the answer to increasing the city’s share of tech jobs is to focus on launching homegrown companies, rather than spending too much time luring out-of-state firms here.

“I believe with all my mind, heart and soul, the answer is to create new local companies,” he said. “By doing that, you accelerate that ‘build, grow, exit and reinvest’ strategy.”

Read more in the Indianapolis Business Journal.

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