Venture Dollars Slow, But Still Flow

While state money (see post on Third Frontier) plays an important role in supporting the region's growing innovation-based economy, private investment dollars are even more important. That's why partners in Advance Northeast Ohio have worked so hard to make our region a more attractive destination for venture dollars.

The latest Venture Capital Report for the Cleveland Plus region captures the progress the region has made over the last several years -- over the last five years the region has attracted $1.1 billion in venture dollars. This strong performance comes despite a slow 2009, when $99 million was raised, compared to $260 million in 2008. Plain Dealer reporter Tom Breckenridge explores some of the reasons for the drop off here.

The Venture Capital Report demonstrates that the region's pipeline of promising startup companies remains very strong, and hopefully a recovery in the global economy will encourage venture capitalists to continue to make big investments in Northeast Ohio's future.