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Royals and Chipps in battle royale
Akron home prices rank best in college-town poll
Retired Green officer finally gets Bronze Star
Indians and Reds to share ballpark
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Unusual sports bar to be sold at auction
Motorcyclist killed, wife injured in Stark County crash
Family found dead in Ohio home
Man says he was punched, robbed by 3 people in parking lot
Man gets 3 years in prison for having sex with horse
Bank helps more save their homes
Circle K on Brown Street robbed
Woman says clinic refused to help her get pregnant because she's not married
Humane Society telethon short of goal
Brown still testing Cavs' lineup
Letters to the editor - Nov. 9
Blogs:
Pets:
Cats are trainable — and that's not a punchline
The Heldenfiles:
Monday Notebook
Patrick McManamon:
Time for Kokinis, Browns to agree and part ways
Akron Zips:
Zips tip off tomorrow
Tribe Matters:
Indians announce spring dates
Cleveland Browns:
Mangini doesn't name a quarterback
Kent State Sports:
KSU Notes – November 9
Cleveland Cavaliers:
Shaq: It’s All About Winning Championships
Buckeye Blogging:
Weekly ‘B’ Deck Report – New Mexico St.
Varsity Letters:
Walsh Jesuit’s Caponi commits to Duquesne
All Da King's Men:
If It Looks Like Islamic Terrorism…
Blog of Mass Destruction:
Dems Message To Women: Don't Enjoy The Sex
Akron Law Café:
Abortion Analogies
See Jane Style:
Muffle Your Muffler
Car Chase:
Clock Tender- Extending the Life of Collector Car Clocks
Let's Talk Real Estate:
Rumors: Akron Starbucks Closing
Ohio Travels with Betty:
Jack is looking for a trip to Southern Ohio the week of November 16.
Sound Check:
The Black Keys to perform benefit concert at Musica on November 27
HRLite House:
Personal Rant – Why People Do Not Live in Northeast Ohio
Akron Gamer:
New 'Call of Duty' could set entertainment record
By Paula Schleis
Beacon Journal business writer
POSTED: 05:07 p.m. EST, Jan 21, 2008
Today was a good day to be the number $1.2 billion -- a figure that featured prominently in reports by two different Northeast Ohio economic development groups.
In one of those reports, a NorTech task force concluded that the region is making good progress toward attracting $1.2 billion in venture capital investment by 2011.
Last year, the group said that's how much would be needed to keep new and early-stage companies moving through Northeast Ohio's economic development pipeline.
In 2007, the region moved $318 million closer to that $1.2 billion mark. That's almost double the $157 million that Northeast Ohio companies raised from venture capitalists in 2006.
Bioscience is proving to be the biggest economic draw, accounting for 75 percent of last year's total investment in the region.
The number of investments also rose, from 48 deals in 2006 to 71 in 2007. The fastest growing sector for overall deals in 2007 was advanced materials. Information technology is also a strong lure, collecting 39 percent of all investment dollars since 2004.
While early- and growth-stage companies are doing well in attracting money, investment in seed-stage companies is also robust and that is ''critical to the formation and growth of new companies in an innovation economy,'' said Ray Leach, chief executive of the business development group JumpStart.
In another report issued today, BioEnterprise announced that health care startups in Midwest states attracted a record $1.2 billion in 2007.
BioEnterprise, a nonprofit that works to raise money for medical companies in Northeast Ohio, keeps track of investments in 12 states through its Midwest Health Care Venture Investment Report.
That $1.2 billion figure is a 55 percent increase over 2006, outpacing national venture industry growth.
''The pipeline of high-quality ventures continues to both mature and gain greater national venture interest,'' said BioEnterprise President Baiju Shah. ''Of note, the average private financing in the Midwest increased to nearly $9 million, indicating that companies are both more developed and attracting broader investor syndicates.''
Ohio and Minnesota led the Midwest, each attracting $296 million in 2007, although Ohio reported 44 deals to Minnesota's 29.
In terms of metro regions, Minneapolis ($296 million) and Cleveland ($242 million) accounted for 44 percent of all activity in the Midwest, followed by Chicago ($125.5 million) and Pittsburgh ($101 million).
The entire Midwest Health Care Venture Investment Report can be found at www.bioenterprise.com/reports/index.html.
Paula Schleis can be reached at 330-996-3741 or pschleis@thebeaconjournal.com.
Today was a good day to be the number $1.2 billion -- a figure that featured prominently in reports by two different Northeast Ohio economic development groups.
In one of those reports, a NorTech task force concluded that the region is making good progress toward attracting $1.2 billion in venture capital investment by 2011.
Last year, the group said that's how much would be needed to keep new and early-stage companies moving through Northeast Ohio's economic development pipeline.
In 2007, the region moved $318 million closer to that $1.2 billion mark. That's almost double the $157 million that Northeast Ohio companies raised from venture capitalists in 2006.
Bioscience is proving to be the biggest economic draw, accounting for 75 percent of last year's total investment in the region.
The number of investments also rose, from 48 deals in 2006 to 71 in 2007. The fastest growing sector for overall deals in 2007 was advanced materials. Information technology is also a strong lure, collecting 39 percent of all investment dollars since 2004.
While early- and growth-stage companies are doing well in attracting money, investment in seed-stage companies is also robust and that is ''critical to the formation and growth of new companies in an innovation economy,'' said Ray Leach, chief executive of the business development group JumpStart.
In another report issued today, BioEnterprise announced that health care startups in Midwest states attracted a record $1.2 billion in 2007.
BioEnterprise, a nonprofit that works to raise money for medical companies in Northeast Ohio, keeps track of investments in 12 states through its Midwest Health Care Venture Investment Report.
That $1.2 billion figure is a 55 percent increase over 2006, outpacing national venture industry growth.
''The pipeline of high-quality ventures continues to both mature and gain greater national venture interest,'' said BioEnterprise President Baiju Shah. ''Of note, the average private financing in the Midwest increased to nearly $9 million, indicating that companies are both more developed and attracting broader investor syndicates.''
Ohio and Minnesota led the Midwest, each attracting $296 million in 2007, although Ohio reported 44 deals to Minnesota's 29.
In terms of metro regions, Minneapolis ($296 million) and Cleveland ($242 million) accounted for 44 percent of all activity in the Midwest, followed by Chicago ($125.5 million) and Pittsburgh ($101 million).
The entire Midwest Health Care Venture Investment Report can be found at www.bioenterprise.com/reports/index.html.
Paula Schleis can be reached at 330-996-3741 or pschleis@thebeaconjournal.com.
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