With billions in federal grant money to fund research at its universities and a reputation for being the financial cap 5a8 ital of the world, New York would seem to have what it takes to build an innovation-based economy, save one critical factor: New York venture capitalists prefer investing in out-of-state companies, according to a study conducted by Excell Partners, a seed stage venture capital fund with ties to the University of Rochester.
The study compiled data on federally funded research versus venture capital investment for six of the leading states in the country. The results show NY scores well in the amount of federally funded research awarded to its universities, but falls short of other states in providing the seed capital necessary to turn emerging startups into revenue generating companies.
To read the full, original article click on this link: Despite Billions in Federal Funding, Study Shows NY Far Behind in Fostering New High-Tech Businesses from University Research
Author: Scott Norris