A recent New York Times article dove into the idea of organically creating the next Silicon Valley. Its author, Steven Davidoff, reviewed the different ingredients public and private sectors are adding to their entrepreneurial ecosystems and touched on a growing consensus that government does, and should, have a role in entrepreneurship.
In illustrating this, Davidoff pointed to Ohio and its Third Frontier program, which has provided more than $1 billion in grants to accelerate high-tech innovation. Of the State’s pool of funding designated for entrepreneurship, a portion goes to nonprofit investors, often referred to as venture development organizations or VDOs. VDOs put their money into innovative, early-stage companies that have the potential to create jobs and wealth for their regions.
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Author: John Dearborn
