Minnesota may be best known in the nation for its long, cold winters that many Minnesotans are tired of, as we previously reported here. You will find this aspect to be the setting that makes certain movies much more interesting. You will agree that this is a great setting for an interesting story. Still, many locals don’t feel good about it. Although many still associate the state with its cold winter weather, Minnesota, and more specifically Minneapolis, is making a name for itself as an ambitious and fast-growing tech sector.
Numerous companies have opened offices in the city in the last two years. We are not talking about a new project. However, we can see that Minnesota is poised to become one of the largest centers in the country. All the latest reports confirm this. You can access most of them online, with all the major players in the tech market now having a hand in making the state of Minnesota what it needs to be in the future.
In 2020, a CompTIA report found that an estimated $31 billion annually was generated in economic impact from the state’s technology workers alone. Given the prominence and promise of some of the tech companies already in the state’s largest city, it’s easy to see why. The number of workers currently employed in the industry has increased significantly, and all approximations say that this number will increase greatly in the future. Fortunately, there is room for this local market expansion as everyone is interested in investing.
Chewy (pet care e-commerce platform), MentorMate (custom software developers) and HomeSpotter (real estate software) are just a few of the tech companies making a name for themselves in Minneapolis. With that in mind, this represents a great opportunity for those looking to make a career in the industry. They can visit the state and find work if they have the necessary credentials, of course. But you can be sure that the possibilities are increasing and that there are enough places for many interested parties.
In a somewhat quiet but groundbreaking move, MLB’s home club, the Minnesota Twins, has implemented new game-day-enhancing technology in what is at least a national first. It’s just the latest example of MN-oriented companies using new applications to improve the customer experience and explore new areas of business. Today we want to explore this topic in more detail by providing crucial insight on what readers should focus on.
Take advantage of the main new technological applications
The three technologies with the most potential for online and digital immersion right now are augmented reality (AR), live streaming, and virtual reality (VR). For the Minnesota Twins, AR provides the key to increasing fan engagement at Target Field.
Created by ARound, Twins fans will be able to point their phones at areas of the stadium to unlock games they can play with others in the crowd.
According to Forbes, the app is currently being piloted by the Twins, but if successful, it could lead to a new platform for the club to make money from advertising. Like AR, live streaming is increasingly seen as a way to improve the business-to-customer bottom line.
Small businesses and independent retailers are encouraged to adopt live streaming as a sales platform on their websites and social media platforms like Instagram. The technology has been taken further, if anything.
The potential these three branches have is unmatched at the moment. It is clear that many companies are investing significant amounts of money in these categories. Of course, what we see now is just the beginning, and we’ll see that the future looks bright for each. Undoubtedly, these three factors will be the backbone of the industry in the coming years. What we see now is just building the foundation for its future growth.
We can see numerous examples of this happening in the world, but the best example is the one we can see in South Korea. We’re talking about easily one of the fastest-moving countries in the tech industry. Leaving Japan out of this aspect would be a mistake, but South Korea is the prime example. So Minnesota is the state that wants to implement this future-proofing framework for both the local tech industry and the well-being of the state’s residents.
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Bringing Web3 enthusiasts together
Last year, Minneapolis hosted the first VeeCon. Over a weekend, people from all over the country were invited to experience the Web3 and NFT conference event. Located in the US Bank Stadium, the event hosted by serial entrepreneur Gary Vaynerchuk hosted up to 10,000 people over the three days. It was just one example of how these things will work. They will represent the main force for future progress
The demand is certainly shown by the ticket prices. Sold as NFT, of course, tickets to VeeCon 2020 cost almost $250 each in accepted cryptocurrencies. It also proved a success, with the 2023 edition going to Indianapolis. NFTs are a hot topic today; you will see people investing millions of US dollars in them. In this way, the industry will have sufficient capital to make significant progress down the road. Of course, the same is true of almost all technologies, not just NFTs.
Looking locally, news of the inaugural conference caught on with French-Moroccan restaurant Fhima. Located downtown, Fhima placed four large digital screens on the entrance ceiling for the express purpose of displaying a collection of NFT digital art pieces. As VeeCon was attracting famous people to give talks, including Snoop Dogg, Mila Kunis, Pharrell Williamsand Michael Rubin, the restaurant wanted to be ready to attract NFT-obsessed A-listers.
Independent businesses making the most of online platforms
Throughout the early stages of this year, the technology industry, mainly the companies that make up “Big Tech”, has received a lot of credit. In a way, the tech bubble burst again, with major US tech companies resorting to laying off tens of thousands of employees worldwide. We have seen this in the past, so large companies were able to prepare their staff for this.
Amazon, Google, Meta and several others were among the biggest overreach offenders in the past two years, and as a result decided to cut employment rather than top management pay. As you know, whenever this happens, new opportunities arise. Minnesota is about to take advantage of the situation by creating a center that will attract people from all over the world.
Still, these platforms offer cost-effective and highly accessible ways for small businesses to come out with a little luck. This can be seen in the success story of NicKnackDesignsCo., owned by Nicole Pinsku of Chisago City. It’s just one of many success stories in the industry.
She started by selling home decor on Etsy, but her store exploded as social media influencers switched to her products, leading to more time and resources being invested in Google Ads, Instagram, Pinterest and Facebook . As Pinsku told MinnPost in March of this year, the success would never have happened without the marketing services these online platforms provide.
There’s a lot of interest in technology in Minnesota right now, from customers looking to use the latest technology to companies taking advantage of it to bolster their products. With augmented reality, virtual reality, live streaming, Web3 and social platforms only growing in the coming years, you can expect even more startups to come from the North Star State.
