Report: "Navigating the New Realities of the North Shore"Venture Capital
Money – Access to capital cuts across all areas of the technology economy. While money follows good ideas, readily accessible capital will help more ideas become “good” faster.
- Aggressively pursue more federal dollars, particularly in areas of medicine, materials and manufacturing. Focus on expanding attraction of SBIR and other commercialization grants.
- Support the creation of more early-stage venture funds and push for more expedited action by the Ohio Venture Capital Authority.
- Advocate for expanded allocation to private equity by large state-controlled investment funds.
- Attract proven early-stage venture capitalists with ties to Northeast Ohio to locate here to take advantage of region’s technology-driven economic development efforts.
- Support a culture of risk-taking that supports wealth creation as opposed to wealth preservation.
- Pursue a designation of the region by EDA and the Council on Competitiveness as one of the “Top Ten Innovation Hot Spots” in the country.
- Establish goals to attract more capital to the region and adjust behavior based on ability to meet those goals.
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