*By Carlo Versano* Steve Case has been traveling the country in search of the next big thing, and he's eyeing Florida and Puerto Rico for the next leg of his journey. The former AOL CEO wants to find ー and invest in ー entrepreneurs outside the major coastal tech hub through his [Rise of the Rest](https://www.revolution.com/entity/rotr/) initiative. He told Cheddar Friday that the next big wave of innovation will come from the heartland, and he's putting his money where his mouth is. Rise of the Rest is armed with $150 million in venture capital, and has been to 38 cities so far. Case and his partners will hit four more in Florida before heading to Puerto Rico. In each stop, the seed-stage company that wins a pitch competition receives a $100,000 investment. Case said he wants to "level the playing field for entrepreneurs everywhere" and shine a spotlight on the innovation in cities beyond Boston, New York, and Silicon Valley, which are home to 75 percent of venture capital funding. We think of the coasts as breeding grounds for the hottest startups, but that wasn't always the case. As Case noted, some of the most successful companies that came out of the first tech boom ー think Gateway ($GTW), Microsoft ($MSFT), AOL ー didn't get their start in Silicon Valley. Now, some of the most innovative ideas and disruptive products are being launched in unexpected places, Case said, particularly in fields like healthcare, smart cities, and the food industry. Rise of the Rest isn't a charity, though. The seed money is coming from a group of prolific investors, Case said, who are investing in anticipation of high returns. Case said he hopes when Rise starts making returns on its investments that more wealth and jobs will spread across the country. For full interview [click here](https://cheddar.com/videos/why-aol-co-founder-steve-case-is-heading-to-puerto-rico).

Share:
More In Business
Poll: More Americans think companies benefit from legal immigration
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Tylenol maker rebounds a day after unfounded claims about its safety
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Load More