Michigan is in a slow decline because of the state of our primary business: the automotive industry. As many studies have stated, entrepreneurs and small businesses create the vast majority of jobs in our nation. What we seem to need is a formal public/private partnership that provides an easy-to-understand process for access to seed capital (venture capital) and expertise for technology-based business. This could very well be the key to "diversifying" or State's economy, building new businesses, and creating jobs.
What do you think?
What do you think?
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Re: Public/private partnership for venture capital
Mon, January 9, 2006 - 7:49 AMI think that advising people how to get the access to seed capital wont really get them the seed capital they want. There are ways for people to research that stuff on their own and would be a difficult way to profit on. That advice is often given for free by the SBA and SCORE as well as many business schools. -
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Re: Public/private partnership for venture capital
Mon, January 9, 2006 - 6:53 PMI agree that there is plenty of money out there and lots of information on how to get it. I'm thinking more of streamlining the process for both the person that needs capital and the people that have funds (private VC's and the state). And the target investment amount would go higher than seed funds and the SBA. -
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Re: Public/private partnership for venture capital
Thu, January 12, 2006 - 5:02 PMYou would become a biz matchmaker of sorts. Connecting the right VC people best tailored for the startups needs (assuming they're qualified enough) -
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Re: Public/private partnership for venture capital
Tue, January 17, 2006 - 6:53 AMThe public/private not for profit company would become the biz matchmaker. -
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Re: Public/private partnership for venture capital
Mon, January 23, 2006 - 12:26 PMSo many biz ideas looking for money,
so few with the management/experience necessary to make them successful.
While I like your idea, the problem is that money is only one "missing" for these entrepreneurs. Unless you have a development system for screening and/or filling in the missings before submission to VC's, you'll not have much success.
Good luck! -
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Re: Public/private partnership for venture capital
Mon, January 30, 2006 - 9:37 PM"Unless you have a development system for screening and/or filling in the missings before submission to VC's."
Good point. We're adopting several VC's screening processes (financial, management, technology) and combining them into one process.
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Re: Public/private partnership for venture capital
Mon, January 23, 2006 - 7:19 PMTom,
Here in Dallas we have a Venture Capitalist Forum that is organized out of the SMU Cox Business School. They meet once a month and it is the most powerful business network in North Texas. I went to network my new business venture and listen to a speaker on video games who was looking for venture capital. After his presentation he had representatives from venture capitalist lined up to talk to him. I would say that access to these type of business people would help lift the economy there. You may want to see if there is a group there like what we have here. Hope that helped.
Duke -
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Re: Public/private partnership for venture capital
Mon, January 30, 2006 - 9:40 PMDuke,
We have a meeting with the State of Michigan to review what's been done in Kansas (KTEC) and Pittsburgh next week. Do you have a contact person at the SMU Cox Business School? Additional information from the Dallas Forum would be helpful.
Thank you.
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