Hermeus, a pioneering hypersonic aircraft startup is on a mission to develop a Mach 5 aircraft capable of connecting New York and London in a mere 90 minutes.
Hermeus, a pioneering hypersonic aircraft startup founded by a graduate from Georgia Tech and based in Atlanta, is on a mission to develop a Mach 5 aircraft capable of connecting New York and London in a mere 90 minutes. This endeavor marks a significant leap forward from the renowned Concorde and existing transatlantic flights, promising travelers unprecedented speed and convenience.
Backing this innovative venture is Steve Case, the visionary co-founder of AOL, whose investment in the startup Hermeus is part of a broader initiative known as the “Rise of the Rest.”
This movement seeks to catalyze innovation in non-traditional venture hubs, challenging the longstanding dominance of Silicon Valley and ushering in a new era of innovation across the United States.
Steve Case, through his investment firm Revolution, has been at the forefront of redirecting venture capital beyond the conventional tech powerhouses of Silicon Valley, New York City, and Boston.
Over the past decade, Case has made over 200 investments in companies across the nation, showcasing his dedication to fostering innovation in regions often overlooked by mainstream investors. His 2022 book, “The Rise of the Rest,” not only serves as a manifesto but also provides a blueprint for his mission.
Founded in 2005 by Case, Revolution emerged shortly after his tenure as CEO of AOL, a trailblazing media giant. The vision was clear: to invest in emerging tech startups situated in areas not typically associated with venture capital dominance.
Among Revolution’s notable investments are Carbon Robotics in Seattle, utilizing AI to aid farmers in weed control, and Meati Foods in Boulder, Colorado, a company spearheading sustainable food production. In Dallas, Revolution is backing Arcade, a platform designed to boost sales team productivity, and Gig Wage, a fintech firm.
While Silicon Valley, New York City, and Boston still hold sway in the venture capital arena, Texas is experiencing a remarkable resurgence. A decade ago, the Lone Star State received a mere 2% of national venture capital funding. Today, it commands a 4% share, owing in part to the shifts catalyzed by the COVID-19 pandemic.
Major corporations like Tesla, Anaplan, and Oracle have been drawn to Texas, enticed by ample space, lower living costs, and zero income taxes. This influx of businesses has cultivated an environment ripe for innovation.
As the corporate landscape undergoes transformation, Case contends that legacy companies and startups must collaborate to shape the future of the digital economy.
He observes a disconnect between startups and established corporations in many cities, inhibiting collaboration and stifling potential opportunities. To bridge this gap, Case advocates for greater synergy between these two realms, recognizing the untapped potential that lies within.
Hermeus’ audacious mission to redefine air travel serves as a compelling example of the innovative potential flourishing beyond the traditional tech epicenters. Steve Case’s dedication to the “Rise of the Rest” movement is not only reshaping the venture capital landscape but also inspiring entrepreneurs to pursue their aspirations in unexpected locales.
With Texas and other regions experiencing a resurgence in innovation, the future of the American tech scene promises to be as diverse as it is exhilarating. Steve Case’s vision of a more inclusive and dynamic tech ecosystem is steadily materializing, one investment at a time.