Ohio’s Public-Private VC Programs Offer Key to Growth

Experts in venture capital and early stage investing say Ohio’s 2010 venture capital success is dependent on the combination of public programs such as Ohio Third Frontier, coupled with private venture capital investments throughout the state.

A recent report issued by the Brookings Institution cites programs such as the Ohio Third Frontier, an unprecedented and bipartisan commitment to create new technology-based products, companies, industries, and jobs, as successful complements to private venture capital funding to encourage innovative start-up companies, entrepreneurship, and business development.

Read more about Ohio's formula for entrepreneurial and growth success.

Ohio Ranks Number One For Fourth Consecutive Year

It's not surprising to executives who live and work in Ohio that Site Selection magazine has awarded Ohio with the annual Governor's Cup Award for the fourth year in a row.

The Governor's Cup Award is based on the number of private capital investments for new or expanded facilities that involved an investment of at least $1 million, created a minimum of 50 new jobs or added at least 20,000 square feet of new floor area. Ohio came in first place with 381 projects. Texas ranks second in the nation with 374 projects, followed by Michigan (371), Pennsylvania (333) and Tennessee (234).

There are many reasons why Ohio continues to be the ideal place to establish or grow a business but three key reasons include the purposeful redesign of Ohio's business climate, the state's world-class assets in advanced design, advanced materials and advanced manufacturing; and focused academic support that enables business success.

Read more about the award and why Ohio continues to beat out all the other states in the nation in the race for new business.

Bioscience Executive on Building a Successful Bio Business

Don Brown, CEO of Arteriocyte in Cleveland, Ohio has worked in the health care industry for more than 26 years. He understands the challenges and rewards that come with bringing a product to market and recognizes the extensive support a company in the bioscience industry needs to be successful.

Don credits Ohio Third Frontier with enabling Arteriocyte to grow from a start up to a commercial stage research and development organization. He spoke with me about the importance of having this type of state program; one that focuses on the three critical aspects of building a successful life science company: investing in research, growing talent and providing investment capital.

Click here to read my complete interview with Don.