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| May 1, 2008 | Volume 12 Issue 18 |
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Editor: George Lipper | |
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(Please scroll down for the full story) -- Kauffman Foundation Sees Growth in Midwest Business Startups -- A Classroom Path to Entrepreneurship -- Florida Incentive Fund to Lure Big Biotech Dries Up -- Who's Next? Many Massachusetts Biotechs Ripe for Acquisition -- A Bit of 'Beggar Thy Neighbor' Approach in Maryland Biotechs -- Are Biotech Companies Stimied in Dealing with Universities? -- Patent Law Battle a Boon for Lobbyists -- Connecticut Weighs Tax Credit For Angel Investors -- Angel Investors Fund Many New Utah Firms -- Angel Investment Concept Goes Rural to Hays Kansas -- VC Investing Tumbles as Terms Start to Get Tougher -- Austin Ventures Recruits Razorfish Founder for New $50 Million Venture -- California Investor Takes Shine to Fledgling Toledo Firms -- Research Becomes Priority at University of Cincinnati -- Do Real Small Businesses Take Venture Capital? -- Assessing the Future of Venture Capital in Minnesota -- VC Fund Helps Develop Ol' Girls Networks -- Texas Enterprise Fund Agrees to $22M for Successful Texas Company -- US Venture Capitalists Looking North -- Start-up: Affordable Solar Power Possible in a Year -- Seminars & Conferences Kauffman Foundation Sees Growth in Midwest Business Startups Entrepreneurial activity among women dropped sharply in 2007 while the activity rate among men and immigrants surged, according to a national assessment by the Ewing Marion Kauffman Foundation. “It’s too early to know if this is a trend; both movements were a clear departure from a prior trend,” says Robert Litan, vice president for research and policy at Kansas City-based Kauffman. “It could be that now we are in the earlier stages of the downturn it could be driving men to become more entrepreneurial. But that is only a guess.” Kansas City Star Kauffman Index of Entrepreneurial Activity A Classroom Path to Entrepreneurship The college campus, it turns out, can be an ideal incubator for hatching small businesses. Undergraduate courses in how to start and run a small business are becoming as ubiquitous as Economics 101. Gone is the conventional wisdom that running a small business cannot be learned by sitting in a classroom. According to the Kauffman Foundation, more than 2,000 colleges and universities now offer at least a class and often an entire course of study in entrepreneurship. That is up from 253 institutions offering such courses in 1985. More than 200,000 students are enrolled in such courses, compared with 16,000 in 1985: New York Times Florida Incentive Fund to Lure Big Biotech Dries Up The Innovation Incentive Fund, Florida's deep well of cash for luring life-science institutes to Florida, is bone dry and won't be replenished, at least not this year. Economic-development officials say a state Senate proposal to stock the fund with a meager $25 million has been shot down, and they see little chance it will be returned by the time the state's budget comes to a vote Friday: Palm Beach Post Who's Next? Many Massachusetts Biotechs Ripe for Acquisition Pick the names of any number of Massachusetts biotechnology companies. Industry observers say many could be likely targets for acquisition in the coming months: Boston Business Journal A Bit of 'Beggar Thy Neighbor' Approach in Maryland Biotechs A $25,000 loan and some free public relations sealed the deal for Amulet Pharmaceuticals to move from Baltimore to Rockville last year. Baltimore City and Baltimore County economic leaders tried to retain the company, a spinout of Johns Hopkins University research. In the end, they just couldn't compete with the cheaper space and deep work force in biotech-rich Montgomery County: Baltimore Business Journal Are Biotech Companies Stimied in Dealing with Universities? The San Francisco Business Journal ran a feature suggesting that biotech companies are running into hurdles in doing deals with universities, specifically the University of California System in this case. The article writes that the problem is that it simply takes too long to get the deal done — that agreements took months rather than weeks to complete. So, what is true? Patent Baristas Patent Law Battle a Boon for Lobbyists A fight has erupted in Congress over the question of whether drug makers and other companies should be allowed to keep patents they obtained by misrepresentation or cheating. The issue has emerged as a contentious point in legislation to overhaul patent laws. In several cases, the courts have voided patents after finding that companies intentionally misled the Patent and Trademark Office: New York Times Patent legislation has friends and foes in Delaware. When the framers of the Constitution created a limited monopoly on inventions "to promote the progress of science and useful arts," they probably didn't envision the comb-over hairdo or crustless peanut butter and jelly sandwich. But those are among the "inventions" that have been granted U.S. patent protection: Wilmington News Journal Connecticut Weighs Tax Credit For Angel Investors Connecticut lawmakers could vote as early as this week to create a 25 percent tax credit for wealthy individuals who act as so-called angel investors for startup companies, a move venture insiders say is key step in aiding new companies’ efforts to get off the ground. Critics, however, counter the proposal cedes too much control over economic development efforts away from elected officials and places it in the hands of private individuals: Hartford Business Review Angel Investors Fund Many New Utah Firms Ten years ago, five businessmen who had all started successful businesses met together for the first time in the conference room of the Commission for Economic Development Orem. Out of that meeting came the Utah Angels, a group devoted to funding Utah entrepreneurial businesses and the first Angel group in Utah. Since that time, 57 companies have been funded, to the tune of over $25 million:: Deseret Morning News Angel Investment Concept Goes Rural to Hays Kansas Salina area businesswoman Jan Srack learned she and her husband weren't alone when they sought to start an innovative business a few years ago. Through a network of supportive Kansas businesses, they've raised capital and received valuable business advice from other entrepreneurs across the state: Hays Daily News About three dozen economic development representatives from western Kansas gathered Thursday to discuss investment options for startup businesses. "If you're not playing the game, you'll get left out," said Brad Appelgarth, president of Prairie Fire Bioenergy Cooperative. "I think small communities need to organize. This is a must for every county in western Kansas." The "must" is the Rural Kansas Angel Initiative, a program with the goal of pairing investors with a grassroots business: Hays Daily News VC Investing Tumbles as Terms Start to Get Tougher Boston-Power Inc. can consider itself lucky to have raised money during New England's worst first quarter for venture capital fundraising in a decade. The same couldn't be said for other local startups during the quarter ended March 31. A little more than $576.7 million was invested in New England companies during the three-month span, representing the region's weakest first quarter in 10 years. The last time New England saw such scant venture capital activity was 1998, when local companies raised $438.24 million, according to Dow Jones VentureOne: Boston Business Journal The Triad saw an 11-fold increase in venture capital dollas invested in 2007 compared to 2006 according to a new Money Tree report, but the riches remain limited to a few experienced entrepreneurs, thus leaving many startups thirsty for funds. Greater Triad Area Business Journal Austin Ventures Recruits Razorfish Founder for New $50 Million Venture Austin Ventures is bankrolling the co-founder and former chief executive officer of Razorfish Inc. with $50 million to build an Austin-based corporate social networking software and services company: Austin American Statesman California Investor Takes Shine to Fledgling Toledo Firms It was not the first time California venture capitalist Mark Iwanowski has been in Toledo. Standing on a podium shortly after detailing his venture capital company's $22.3 million investment in Xunlight Corp., a start-up solar energy firm on Nebraska Avenue, the former top executive with technology giant Oracle Corp. vowed yesterday that it wouldn't be his last: Toledo Blade Research Becomes Priority at University of Cincinnati The University of Cincinnati is considering starting a research foundation to allow the school to have ownership stakes in private companies. "The state wants us to create jobs, but we have a barrier in that we can't help out by taking any equity in the company," said Sandra Degen, UC's vice president of research, noting that some of the country's most iconic brands have come from research at universities: Cincinnati Enquirer The truth about technology transfer is that the process is so complex, so multi-dimensional and so driven by external forces that few who practice the craft can easily explain all aspects of their daily activities: Raleigh News & Observer Do Real Small Businesses Take Venture Capital? If you are a small business owner who wants to land a government contract, you are not allowed to have venture capital dollars pumping into your company. For some reason, that’s the way it’s been. Perhaps it was supposed to be a way to level the playing field, so small companies weren’t really deep-pocketed big companies in disguise. But a bill that would eliminate the restriction, sponsored by U.S. Rep. Nydia Velazquez, who chairs the House Small Business Committee, was passed by the House this week. And that has some small business advocates up in arms: MSNBC Assessing the Future of Venture Capital in Minnesota When it comes to venture capital, no one will mistake Minnesota for Silicon Valley or Boston. The state attracted only $60 million in venture money in the first quarter, good for 17th place in the country, according to the MoneyTree Survey by PricewaterhouseCoopers and the National Venture Capital Association, based on data by Thomson Financial: Minneapolis Star Tribune San Francisco's South of Market district was ground zero for the last dot-com boom and bust, and last week the neighborhood looked ready to see history repeat itself: Market Watch VC Fund Helps Develop Ol' Girls Networks When it comes to venture capital, the purse strings are usually held by men. That was one reason why directors Patty Abramson, Wendee Kanarek and Rob Stein launched the Women's Growth Capital Fund three years ago. The fund invests only in women-owned or -managed businesses. By increasing access to equity capital for female entrepreneurs, the fund intends to promote growth of women-owned enterprises while generating significant financial return for investors: Washington Business Journal Texas Enterprise Fund Agrees to $22M for Successful Texas Company Rackspace Inc. doesn't fit the profile of a company that needs taxpayer money. The San Antonio-based Internet hosting and data services company has received more than $30 million in venture capital backing and enjoys solid profits and rapidly growing sales. And it just filed for an initial public offering that could raise $400 million. But in August, the State of Texas' Enterprise Fund agreed to pay $22 million to Rackspace over five years, provided the company meets hiring targets. The state fund has paid $5 million of that total so far: Austin American Statesman In an editorial assessment of Michigan's adjustment in its incentive program, the Ann Arbor News applauds. Nothing against Ohio. But we've grown tired of watching companies in Southeast Michigan travel to the greater Toledo area to sniff out potential economic incentives when, in fact, their first intention is to remain and grow here.Ditto Indiana, which long has gotten looks from companies from Mid-Michigan to the shore of Lake Michigan Ann Arbor News US Venture Capitalists Looking North American venture capitalists are eager to invest millions of dollars in promising Canadian start-ups despite the economic woes in the United States, says a prominent Boston lawyer. "Despite all you're hearing about the recession south of the border and the subprime debt crisis, the (venture capital firms) still have a lot of money to deploy," said Leonard Gold, a partner with Boston's Burns & Levinson LLP and the managing director of its Canadian operations: New Brunswick Telegraph Journal Start-up: Affordable Solar Power Possible in a Year A Silicon Valley start-up claims to have developed technology that can deliver solar power in about a year at prices competitive with coal-fired electricity, a milestone that would leapfrog other more established players and turbocharge the fast-growing industry: USA Today America's love affair with corn-based ethanol is cooling – at least in Washington. Some legislators blame the rising use of corn as a biofuel as a key factor behind high food prices. Others want to freeze the federal mandate on biofuels production at current levels, reversing legislation passed just a few months ago that increases it through 2022. Still others are pushing to shift tax incentives away from corn-based to cellulose-based ethanol in the nearly completed farm bill: Christian Science Monitor Investor and Entrepreneur Seminars & Conferences Detroit, MI Sept. 10-12, 2008 - 15th Annual Conference of the National Association of Seed & Venture Funds Early Bird Registration Now Open Offered by Our Friends: New York, NY May 4-7, 2008 - Community Development Venture Capital Alliance Annual Conference CDVCA Annual Conference Las Vegas, NV May 4-7, 2008 - Consumer Health World Summit Health 3.0 Summit San Antonio, TX May 4-7, 2008 - NBIA's 22nd International Conference on Incubation National Business Incubation Association San Francisco, CA May 5-7, 2008 - Investors' Circle 2008 Spring Conference & Venture Fair Investors' Circle Spring Conference San Diego, CA May 7-9, 2008 - Angel Capital Association Summit Conference Angel Capital Association Ann Arbor (Ypsilanti), MI May 14-15, 2008 - 27th Annual Michigan Growth Capital Symposium Michigan Growth Capital Symposium Sioux Falls, SD October 22, 2008 - South Dakota Innovation Expo South Dakota Enterprise Institute Subscribe to NASVF NetNews Unsubscribe from NASVF NetNews 
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   ECS Capital Partners, LLC, is raising and will operate several investment vehicles (initially an Angel-, and then a Venture-scale fund) seeking to optimize financial returns by vertically integrating long-term company partnership and involvement, using a pragmatic and evolutionary approach. To accomplish this goal, we will: - Coinvest and cooperate with individual Angels, Angel groups (ex. ECS Angels, www.ecs-angels.com), and other funds. - - Apply modern scientific and management techniques as well as time-tested wisdom. - Operating nationally as well as world-wide.  NASVF is accepting membership inquiries from organizations and individuals who build their local economies through investment and facilitation of investment in entrepreneurial ventures. Review our Member Benefits and submit your Inquiry Form today! Members Have a tough seed/venture capital question? Let NASVF provide the answers! Check out the newest member-only feature, "AskNASVF". This member exclusive email service is provided to help our members network and learn among the industry's top innovation capital leaders.   |