The 2022 report from Panoramic Ventures (a BIP Capital unit rebranded in Spring 2023 as BIP Ventures) on the State of Startups in the Southeast shows Tennessee concentration in HealthIT, SaaS, Fintech, and highlights InnovaMemphis in VC activity and Launch Tennessee among government-backed investment, in subcategory rankings. All 'Notable Exits' listed for the state were from the Nashville area. The Volunteer State's Angel-investor activity did not earn a slot on one leaderboard in the report.