RALEIGH – There may well be many who are concerned that a recession could sweep across the Triangle economy in 2023, but one serial entrepreneur and investor remains bullish about the prospects of the region’s startups. That’s despite the most recent WRAL TechWire Jobs Report showing that the number of job openings continues to decrease in the Triangle startup ecosystem.
Scot Wingo, the founder of Spiffy and founder of the Triangle Tweener Fund, says there’s been great activity in the region’s startup scene. After multiple quarters of high dollar venture capital investment pouring into startups across the country, the prior two quarters saw something of a slowdown in investment activity. And that’s to be expected, Wingo told an audience last week.
“Venture investment will go down,” said Wingo. “But what is happening is that is for larger companies.” Growth-stage and early-stage startups in the Triangle are still active, said Wingo, who spoke last week at the Launch 2023 event hosted by the Raleigh Chamber.
Activity, growth continues in the Triangle
“We haven’t seen a slowdown, we’ve actually seen a lot of activity,” said Wingo, of those smaller companies.
“In conclusion, the data that I see, everything in our startup ecosystem is very robust, we’ve grown 5x over the last seven years,” Wingo said. “And I don’t see it slowing down.”
Still, for the seventh consecutive week, the total aggregate number of jobs in the startup economy of the Triangle has fallen.
The data show that there are now just 16,552 startup job postings based in the Triangle’s entrepreneurial economy, though there may be overlapping postings across the 15 job boards tracked by WRAL TechWire.
Good news, Triangle job seekers: 50 top firms are all hiring – check the list
Beyond startups, the entire Triangle jobs market is showing a decrease, too, as the most recent report states. Still, each of the 50 companies tracked by WRAL TechWire in the weekly report is hiring for at least one open position at this time, the report found.
