Nearly a dozen local companies received money from venture capital funds last year, showing that the market for start-ups is the best it's been in years.CincyTechUSA
, southwest Ohio's start-up incubator, has $22.5 million in funds to spend over the next 3 to 4 years, which it plans to use to grow companies just large enough that they will catch a venture capitalist's eye.
"We need to be better at transferring technology to the market from our local research institutions, and we need to get these limited partnerships and funds more engaged in the process," Mark Richey of venture-capital fund Draper Triangle Ventures
tells the Cincinnati Enquirer. "That will create even more capital flowing through here, and more companies will start, and we'll have a pretty vibrant place."
The state as a whole is gaining in venture-capital receipts, up to 20th nationally in 2007 ($170.6M) from 28th in 2006 ($43.5M).
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