PitchBook's recent report on the 3 critical factors for a strong venture ecosystem — density, resources, and talent — led me on a quest to find where, beyond the typical major cities discussed in the venture world, we see these factors crystallizing in emerging ecosystems. I didn't have to go far; my research led me across Lake Michigan to the Wolverine State. With top-tier universities, a long-standing culture of grit, and an economic downturn that nearly devastated its primary trade, Michigan is now experiencing an industrial transformation.