|Center for Entrepreneurship issues report on Ohio venture capital
A report developed by Michael Camp and the Center for Entrepreneurship ranked Ohio 13th in the United States in 2007 for venture capital money invested in technology companies.
Camp, the academic director for the center, presented his report at the Ohio Capital Fundís summit that gathered investors, entrepreneurs and companies together for a conference on venture capital on Sept. 17. The event was co-sponsored by the Ohio Department of Development.
According to Campís report, Ohio technology companies received $536 million in venture capital investment. More than $155 million in seed and early stage funding was invested in 88 companies that received angel or venture capital funding for the first time.
In Campís presentation, ďA Platform for Innovation: Poised for Growth,Ē he said the state is enjoying a new wave of capital investments in start-ups, which include an increase in participation from non-Ohio venture capital funds.
The report found that the average size of early-stage investments increased significantly to $3.88 million, which was up 110 percent from $1.84 million in 2006.
Growth was in key sectors that aligned with national interests. Health-care accounted for 61.6 percent of capital investment, 17.7 percent of funds went into informational technology, followed by consumer retail, which made up 10 percent of 2007 venture capital investment.
''Ohio's technology-based entrepreneurial community appears poised for tremendous growth in the next five years,'' Camp told the gathering.
The entire report is available online.