READ TIME: 4 MINUTES

Hey friends,

Welcome to Issue #14 of the Driver’s Seat 🚙

Over the weekend, I had a chance to visit Minneapolis to experience the city’s unique ecosystem.

I connected with some super cool founders / investors to learn about what makes this Midwestern city truly special.

With this in mind, I’m excited to share that we’ll be co-hosting a new event at the Drive Chicago office during TechChicago Week with Minneapolis’ very own Matchstick Ventures.

The purpose of this gathering will be to explore pre-seed insights that exist between the coasts for early-stage founders and funders.

Our friends at Cooley Chicago are helping us put this event together.

Learn more at Lu.ma/drivematchstick

⚙️ STEM Talent in Illinois

🚚 How Chicago Became a Supply-Chain Hub

📊 Chart of the Week

🗺 Events Around the City

Make sure you’re subscribed to the Driver’s Seat 🚙 for information on Chicago's GROWING innovation economy 🙏

Let’s dive in! 🚙 🚙 🚙

Over the past decade, STEM degrees in Illinois have experienced impressive growth driven by advancements in tech / changes in the job market.

Our state has become known as a leader in STEM education, increasing the number of degrees awarded / the range of STEM degree programs available.

In 2021, our universities saw a total of 27,285 degrees in STEM, which accounted for 22% of our degrees awarded in the state

This marked 5% annual growth compared to 2012, which surpassed the growth of non-STEM degrees.

When comparing to other states, Illinois is the 6th largest producer of STEM degrees.

The history of supply chain in Chicago is closely intertwined with our city's development as a major economic and transportation hub in the USA.

In the 19th century, Chicago experienced rapid growth due to our proximity to the Great Lakes and the Mississippi River.

The opening of the Illinois / Michigan Canal in 1848 connected Chicago to the Mississippi River system, allowing for efficient transportation of goods to and from the city.

In the 1850s, several major railroad lines, including the Illinois Central and the Michigan Central, established terminals in the city.

As Chicago's population / industrial base grew, warehouses, distribution centers, and manufacturing facilities were established to support the increasing volume of goods flowing through the city.

The Chicago Stockyards, founded in 1865, became the center of the nation's meatpacking industry, and its efficient supply chain operations made it a model for other industries.

The construction of the Chicago Sanitary and Ship Canal, completed in 1900, improved our city's water transportation system by connecting the Chicago River to the Mississippi River.

In recent decades, we’ve continued to invest in expanding our rail and intermodal facilities to accommodate the growing demands of global trade.

O'Hare International Airport and the nearby logistics centers have positioned Chicago as a vital air cargo hub, connecting businesses worldwide.

Axios released a chart showing the year-over-year change in CPI (Consumer Price Index) for Chicago compared to the US average.

The CPI is a widely used measure of inflation / reflects changes in the average prices paid by consumers for a basket of goods and services.

It serves as an important economic indicator, providing insights into the purchasing power of consumers / the overall state of the economy.

When the CPI drops, it suggests a decrease in the general price level.

As of May 2023, our CPI continues to drop at a rate greater than the US average.

Listen Talks: Food As Medicine

Live Pitch Competition: Pitch to Win $100K

1871 Juneteenth Gathering

PRIDE in Tech

Reply directly to this email if you have a tech event you want featured in the Driver’s Seat!

Thanks for making it this far! 😎

Follow me on Twitter and Instagram for even more Chicago startup news and photos of my favorite restaurants in the city.

Also please share the Driver’s Seat with others 🚙