Monday, July 14, 2003
Folks in Texas are worried that not enough venture capital is available to support business development in the life sciences. Texas ranks 5th overall in NIH research, and its institutions generate good science. But where's the business development?
The problem may be related to the lifecyle of Texas' life sciences businesses. In Texas there are relatively more start-ups, which are inherently harder to fund. An additional problem relates to the venture capital industry in Texas. They need lead venture investors who feel comfortable with the complexities of the life sciences. Credible lead investors can then bring in a network of co-investors.
Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information.
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Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
Download some background information on me here.
Venture capital for life sciences is hard to find in Texas
