Flywheel Fund

Flywheel is a venture fund that provides fundraising to early-stage companies, typically tech companies. The company is based in Indiana and is looking to expand to other states in the Midwest region, and HCN was asked to identify potential states for Flywheel to expand to and provide recommendations on which state(s) to target.

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After researching potential states in the Midwest region, we have identified five potential states for Flywheel to consider. HCN consultants evaluated the states across a variety of factors and weighed the advantages and disadvantages of each state.

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Based on our analysis, HCN consultants identified one state that would be beneficial for Flywheel Fund’s expansion. This selected state has a relatively large amount of venture capital available compared to other states in the region. It also has a unique program that offers tax credits to individuals who invest in qualified businesses in the technology industry which could potentially make it easier for Flywheel to attract investment. Additionally, this selected state was not as saturated as other nearby states, which could make it easier for Flywheel to stand out. Finally within this state, Flywheel is eligible for a tax credit program that provides tax credit to individuals who invest in eligible technology companies, which could provide a significant advantage in terms of attracting investment. Expanding to a new state is a significant decision for any startup. By carefully analyzing the potential advantages and disadvantages of different states, we were able to provide Flywheel with a recommendation that takes into account its specific needs and goals.