From the 7/26/05 Enquirer:

 

 

New ventures draw investment

Two locals among Midwest surge

By James McNair

Enquirer staff writer

 

Two Cincinnati firms were among those benefiting from an upsurge in venture capital investments in the Midwest last quarter, according to a report out today by the National Venture Capital Association.

 

Bluespring Software received $3.8 million in the quarter ended June 30, while another Cincinnati startup, Blue Chip Surgical Center Partners, got $3.5 million.

 

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20050726/BIZ01/507260342/1076/rss01

 

From the 9/13/05 PD:

 

 

Cleveland high on health care investor lists, survey says

Tuesday, September 13, 2005

Roger Mezger

Plain Dealer Reporter

 

Venture capital firms around the country perceive Greater Cleveland as the second-best place in the Midwest to invest in health-care technologies, according to a BioEnterprise Corp. survey.

 

The local bioscience industry booster organization conducted the unscientific survey by e-mail over 10 days in July and August. Results are based on impressions gathered from 47 venture firms. 

 

http://www.cleveland.com/business/plaindealer/index.ssf?/base/business/112660396212900.xml&coll=2

 

From the 1/24/06 PD:

 

 

$86 million invested in Ohio bioscience in '05

Capital flowing to companies in state; only Minnesota's numbers are higher

Tuesday, January 24, 2006

Mary Vanac

Plain Dealer Reporter

 

Ohio was the No. 2 spot in the Midwest for venture capital investments in bioscience last year, says BioEnterprise Corp. in Cleveland.

 

The state's bioscience companies received a total of $86 million from venture capitalists in 2005, according to the first Midwest Health Care Venture Investment Report covering a full year. 

 

http://www.cleveland.com/business/plaindealer/index.ssf?/base/business/1138095309222040.xml&coll=2

 

Where are the jobs then?

I think that in this stage, as Cleveland moves through a transition from heavy industrial/manufacturing to light industrial/manufacturing that is fueled by nanotech/biotech engineers and entrepreneurs, you are going to see greater losses then gains. so while we as a region are certainly gaining "new economy" jobs, we are still losing old economy jobs at a greater rate. 

I believe that when Ohio shut down stem-cell research, we really blocked a major opportunity for economic growth through bioscience. 

That's what happens when you have shit-kickin' nitpickin' fearin' God like the dickens hicks running the State House.

Here is a symbol of Cleveland's improving stature in biotech:

 

http://www.crainscleveland.com/article/20060131/FREE/60131001

 

Cleveland to host BIO conference

Related Links

BioEnterprise Corp.

 

By BRANDON GLENN

 

9:04 am, January 31, 2006

 

 

Cleveland is scheduled to host this fall what is being billed as the Midwest’s largest annual biotechnology investor forum.

 

The fourth annual “BIO Mid-America Venture Forum” is designed to bring together venture investors with biotech and medical device companies seeking funding, according to a statement from Omeris, a Columbus-based biotech trade group.

I believe that when Ohio shut down stem-cell research, we really blocked a major opportunity for economic growth through bioscience. 

I was unaware of this.  I did engineering work for the stem cell research laboratory at the CCF.  It is a six story building on Cedar an E 96 that was completed in early 05.  I guess it does not function as this now. 

I believe that we are confusing two different types of stem cell research.  The two are: Adult stem cell and prenatal stem cell. Also, I think that Ohio has said that it would not use public dollars to support pre-natal stem cell research.  You can do it, but the state won't give you any money for it.

Well, when you have states like California spending bundles on it, I'm sure companies will not have a hard time deciding where to locate their business.

^I thnk companies are, at least in the biotech industry is leveled off in Calif. It's simply cost too much to sart off a business there. That's why The investments is not as high there as it use to be. Wages and Cost of living is out of sight out there.

The National Venture Capital Association, Thomson Financial and PWC MoneyTree compiled data on venture capital investments in U.S. metros in 2006.  Cleveland-Akron and Columbus landed in the Top 40 for VC investing. 

 

The wiki-definition: "Venture capital is a type of private equity capital typically provided by professional, institutionally-backed outside investors to new, growth businesses. Generally made as cash in exchange for shares in the investee company, venture capital investments are usually high risk, but offer the potential for above-average returns."

 

http://en.wikipedia.org/wiki/Venture_capital

 

Ranking Metro Investment (in millions)

1 San Francisco-Oakland-San Jose, CA CMSA $ 9,159.4

2 Boston-Worc.-Lawrence, MA-NH-ME-CT CMSA $ 2,666.8

3 New York-No. NJ-Long Is., NY-NJ-CT-PA CMSA $ 1,962.8

4 Los Angeles-Riverside-Orange County, CA CMSA $ 1,564.9

5 San Diego, CA MSA $ 1,231.1

6 Washington-Baltimore, DC-MD-VA-WV CMSA $ 1,111.7

7 Seattle-Tacoma-Bremerton, WA CMSA $ 978.7

8 Denver-Boulder-Greeley, CO CMSA $ 616.5

9 Austin-San Marcos, TX MSA $ 604.5

10 Dallas-Fort Worth, TX CMSA $ 535.1

11 Philadelphia-Wilm.-Atl.City, PA-NJ-DE-MD, CMSA $ 503.2

12 Chicago-Gary-Kenosha, IL-IN-WI CMSA $ 386.4

13 Atlanta, GA MSA $ 356.1

14 Raleigh-Durham-Chapel Hill, NC MSA $ 327.6

15 Minneapolis-St. Paul, MN-WI MSA $ 309.2

16 Pittsburgh, PA MSA $ 229.8

17 Phoenix-Mesa, AZ MSA $ 225.2

18 Houston-Galveston-Brazoria, TX CMSA $ 212.4

19 Portland-Salem, OR-WA CMSA $ 145.0

20 Charlotte-Gastonia-Rock Hill, NC-SC MSA $ 122.4

21 Salt Lake City-Ogden, UT MSA $ 121.3

22 Providence-Fall River-Warwick, RI-MA MSA $ 113.5

23 West Palm Beach-Boca Raton, FL MSA $ 75.3

24 Detroit-Ann Arbor-Flint, MI CMSA $ 68.2

25 Orlando, FL MSA $ 62.4

26 Tampa-St. Petersburg-Clearwater, FL MSA $ 57.7

27 Kansas Cty, MO-KS MSA $ 56.0

28 Rochester, NY MSA $ 55.5

29 Nashville, TN MSA $ 45.8

30 Buffalo-Niagara Falls, NY MSA $ 38.8

31 Miami-Fort Lauderdale, FL CMSA $ 37.8

32 Sacramento-Yolo, CA CMSA $ 34.1

33 St. Louis-St., MO-IL MSA $ 31.2

34 Indianapolis, IN MSA $ 27.2

35 San Antonio, TX MSA $ 26.1

36 Greensboro—Winst.-Salem--High Point, NC MSA $ 19.7

37 Cleveland-Akron, OH CMSA $ 19.4

38 Hartford, CT MSA $ 18.6

39 Las Vegas, NV-AZ MSA $ 18.4

40 Columbus, OH MSA $ 18.3

 

 

1997 rankings for Ohio metros:

 

24 Cincinnati-Hamilton, OH-KY-IN CMSA $ 86.3 (fell out of Top 40)

30 Cleveland-Akron, OH CMSA $ 43.2 (fell 7 places, lost $24M in VC)

38 Columbus, OH MSA $ 20.1 (fell 2 places, lost $2M in VC)

 

 

 

Metro Areas with Highest Amount of Venture Capital Investment per Capita:

 

37 Columbus, OH MSA $ 11.88

 

Metro Areas with the Fastest VC Growth Rate Over the Past Decade

Relative to 1997 Venture Investment Level, Among 1997’s Top 40 Metro Areas (slope of regression line):

 

29 Columbus, OH MSA -0.062

35 Cleveland-Akron, OH CMSA -0.119

36 Cincinnati-Hamilton, OH-KY-IN CMSA -0.120

 

http://www.innovationworks.org/PghVentureInvestmentLevels.pdf

Interestingly, there seems to be little corrolation with population growth rates.

How does this report reconcile with the exceprts from the following articles out of another thread on Cleveland Biotech investment?  Am I missing something?

 

http://www.urbanohio.com/forum2/index.php?topic=7192.30

 

Something just doesn't see right about this information.

 

I don't think this is correct, in February an article was posted that NE Ohio received over $500 M over the past three years, which averages to approximately $160 M a year.

 

I don't trust wikipedia.

 

EDIT:  FrqntFlyr beat in posting, but we are thinking the same thing.

These statistics aren't from Wikipedia... they're from the National Venture Capital Association... which is the trade association that represents the U.S. venture capital industry.  http://www.nvca.org 

 

Perhaps much of the "investment" the Plain Dealer is reporting on doesn't truly qualify as "Venture Capital".  Read this page for an overview of Venture Capital: http://www.nvca.org/def.html 

 

I don't know... I'm not an expert on VC. 

 

 

this still doesn't "seem" right.  What does the Ohio Venture Capital commission say.  Arent they based in Cleveland?

now having read the other thread...what is going on?

It looks like they were discussing what happened in 2006, and not the first quarter of 2007

^but still, we had a lot more than just $19million worth of VC in biotech alone last year. I'm pretty sure that Indianapolis did a lot better than is reported as well. Obviously, this data must be considering only a subset of VC.

From the PD:

 

JumpStart's founder says it needs more state money

Posted by Mary Vanac

(Cleveland) Plain Dealer

September 21, 2007 05:11AM

 

Ray Leach is on a mission. The serial entrepreneur who helped launch JumpStart Inc. three years ago hopes to persuade the state to increase support to his Northeast Ohio venture developer.

 

Failing that, JumpStart could get sidetracked just as its novel development model is getting the notice of venture capitalists.

 

By sometime next year, "we will either scale back our current programming or we will change what we do - both of which we do not want to do because what we are doing is working," Leach said ...

 

... More at http://blog.cleveland.com/pdworld/2007/09/jumpstarts_founder_says_it_nee.html

It would seem to me that this is one of the most important issues related to start-up businesses in high growth/high tech sectors.  I wonder where Ohio ranks when it comes to VC.  VC is undeniably important.

Got a bit of catching up to do...

 

Rise of Global Startup Cities: My latest @CityLab based on new @MartinProsperiT research:

http://www.citylab.com/tech/2016/01/the-rise-of-global-startup-cities/426780/

 

 

 

EDIT: enlarged and cropped to show only USA with Ohio cities labeled....

I hate awful maps.  That map is mostly useless as it is impossible to tell which cities are which.  You would think someone who could operate GIS would have at least a basic grasp of making readable maps, but it seems that those skills often don't go hand in hand.

I did my best to translate it.

 

Also here's a chart...

https://t.co/OVG7Cu55Yh