231: Why VCs and Startups Are Betting on Manufacturing and the Midwest Featuring Drive Capital and Path Robotics, Live from Columbus, OH

What’s getting VCs to look beyond Silicon Valley in the tech startup scene? The Midwest is not just an up-and-coming place for investors to watch. It’s now a region that more investors are betting on. With companies like Path Robotics, the Midwest is taking its status as a manufacturing hub and merging it with the kind of innovative tech traditionally associated with the coastal cities.

For this episode, we hear from two sides of the conversation – from Andy Lonsberry, CEO of Path Robotics, and Nima Gard, the company's Director of AI, along with Nils Root from Drive Capital, a VC firm that operates in the Midwest manufacturing and tech scene.

They join us live from Columbus, Ohio to talk about what makes the region a hot spot for manufacturing innovation, why it’s not the “next Silicon Valley” (and doesn’t have to be), and what companies like Path Robotics are getting right. We also dig into the tech at Path Robotics and where AI fits into the future of new technological developments in the industry.

In this episode, find out:

• Why Columbus is seeing a wave of tech startups and VC interest
• Andy explains why Ohio was the perfect spot to build Path Robotics and how it’s using machine intelligence to specifically solve manufacturing problems
• How manufacturers can successfully decide what to focus on now and in the future
• The technology behind the scenes at Path Robotics and data is the number one biggest focus
• The secrets behind Path Robotics' 3x growth and where data fits into that
• What Andy’s most excited about building at Path Robotics and the importance of practical applications
• How Path Robotics closes the deal cycle faster, works with their CRO and isn’t afraid to disqualify leads
• What can other regions learn from Columbus and why the startup scene is increasingly seen as an exciting opportunity rather than a risk
• The skills gap in manufacturing and how AI will realistically change manufacturing jobs in the future
• How humans and robots can realistically interact, create value and solve problems together

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Tweetable Quotes:

• ”Everyone still asks, 'when are you going to move to Silicon Valley? When are you going to move to the East Coast?' And the main reason is that the talent is here.” – Andy Lonsberry
• “More great world-class technology businesses will be built outside of Silicon Valley in the next 20 years than will be built inside of Silicon Valley. So Drive is just investing behind that thesis.” – Nils Root
• “One of the hardest things in robotics is data. Data is the bottleneck. The fact that we are not seeing a GPT moment in robotics is because we don't have enough data as we had for text and language.” – Nima Gard

Links & mentions:

• Drive Capital, a Columbus, OH-based VC that’s companies are proving that you can build a world-class technology company anywhere
• Path Robotics, providing precise robotic welding systems. No programmer required. Designed for precision, efficiency, and scalability.
• Makerspace Central is a 501(c)3 non-profit based in Columbus, Ohio, providing innovative STEM (Science, Technology, Engineering, and Mathematics) workshops for K-12 students in the Columbus greater region. Their culturally-relevant STEM experiences ignite students' curiosity to prepare them for a more tech-focused world, offering K-12 pop-up makerspace workshops and curriculum development consultation.
• Seventh Son Brewing, Columbus, OH-based brewery specializing in IPAs with a bright, rustic tasting room & visiting food trucks

Make sure to visit http://manufacturinghappyhour.com for detailed show notes and a full list of resources mentioned in this episode. Stay Innovative, Stay Thirsty.