Steve Grzanich has the business news of the day with the Wintrust Business Minute.

A new report says there are significant challenges accessing capital in Chicago’s tech ecosystem. A local nonprofit, P33, says early-stage startups are having trouble pulling in local capital, even though Chicago has the third-largest gross domestic product in the country. The analysis says Chicago’s exporting too much of its venture capital to other places. Only about 15% of early-stage capital involving a Chicago investor was invested locally from 2014 to 2023. In contrast, about 44% was invested by San Francisco investors into their own region. The report recommends creation of funds focused on keeping capital in Chicago to support local innovation. P33 was established in 2019 to foster the tech ecosystem in Chicago. One of its cofounders is Penny Pritzker. 

Also, A Chicago-based medical equipment company will acquire an artificial intelligence software business to enhance its innovation around AI. Listen for more below: