But its tech hub potential can still be threatened by the state’s political swings, said Salesforce Ventures head John Somorjai, who spoke today at a tech event in Durham.
On a panel at Bull City Venture Partners’s Entrepreneurs’ Series 2019, Somorjai reminded the audience that investment in the state follows the talent.
And a state can’t attract talent when it’s not “welcoming to all people,” he said.
This issue now has a broad effect on the state’s ability to attract tech and business investment at a time when investors are often looking outside the Valley (and its obscene valuations) to find companies that are more focused on profitability.
Salesforce Ventures itself invested in two N.C. area unicorns — Pendo and nCino — and it just acquired Charlotte-based MapAnything, which gives it some 200 new employees in the Tar Heel state.
“One thing we’ve been so excited about is — you have these tremendous universities that are putting out great engineers every year.