SSTI updates Key Technology Area Investment Data Tool through 2024
The new Tech Hub awards from EDA and the National Science Foundation’s (NSF) Regional Innovation Engines (Engines) program support regions advancing a critical technology area with existing traction in their region but for proposers, identifying such areas is often challenging. Recognizing this, SSTI has recently updated a data tool comprised of two interactive visuals and a downloadable data file that can aid in identifying the critical technologies in an applicant’s geographic location to assist applicants with the upcoming full proposal deadline for Engines on February 11, 2025.
The tool leverages PitchBook data exhibiting investment activity across 18 PitchBook industry verticals aligned with many of the 10 key technology focus areas (KTFAs) established with the passage of the 2022 Chips and Science Act. SSTI launched the tool in August 2023 and has since updated the underlying data through December 31, 2024. All individuals and organizations can access the data tool for free through SSTI’s Tech-based Economic Development (TBED) Community of Practice, supported by EDA.
SSTI analyzed the 59 industry verticals for which PitchBook collects investment data, comparing them against the 10 KTFAs defined by CHIPS, ultimately identifying 18 PitchBook industry verticals as aligned with the KTFAs.
Across all 18 industry verticals, data on the number of investment-backed companies, investment deals, and amount of capital invested by each state, year (January 1, 2013-December 31, 2024), and investment stage (e.g., seed, angel, venture) is included. Deal count may be the best single indicator for most use cases, as it shows a breadth of activity without being subject to skewing from a single large investment.
SSTI encourages users to consider one vertical at a time rather than combining multiple verticals, as PitchBook verticals are not mutually exclusive—one company may be represented in multiple verticals.
For this update, data were downloaded on January 13, 2025, reformatted for ease of use, and built into the provided visualizations and spreadsheet available for download on the data tool webpage.
Note that because many investment deals are not subject to disclosure, it is difficult to identify investment activity immediately, leading to investment data for more recent years normally being less complete. This issue is especially important to consider when exploring 2024 and other recent data.
The data used to develop this tool comes from Pitchbook and is published by SSTI with permission. For more information, see the Methodology and Notes section of the data.
The data tool can be accessed here or at ssti.org/key-technology-area-investment-data-tool.
This article was prepared by SSTI using Federal funds under award ED22HDQ3070129 from the Economic Development Administration, U.S. Department of Commerce. The statements, findings, conclusions, and recommendations are those of the author(s) and do not necessarily reflect the views of the Economic Development Administration or the U.S. Department of Commerce.
nsf engines, CHIPS and Science Act, tech hubs