Barbara Payne's Capitalist Cleveland Blog

News and Views: Entrepreneurs a-thrive in Northeast Ohio


Thursday, January 19, 2006

Way to bring bio entrepreneurs to NEO

Some of the biggest players in Northeast Ohio are betting part of their farms on international tech companies, primarily entrepreneurial bioscience from Israel. Last month the Bridge Investment Fund--the financial child of National City Bank, Key Bank, Forest City Enterprises and the Myers, Mt. Sinai and Maltz Family Foundations--closed with an an initial close at $5.5 million towards a $15 million venture capital fund..."

Rather than wonder why this money isn't being invested in local companies, it's important to remember that reaching critical mass is a big part of making a bioscience hub most efficient and helping its individual companies function most effectively (ask the folks at North Carolina's RTP Triangle about that). So this is a good thing for NEO bio-entrepreneurs--thank you to these forward-thinking organizations.

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