Venture-capital investment in Ohio climbed last year, while it declined nationwide.
Despite the gain, though, Ohio's share represented less than 1 percent of the venture-capital money in the country. Some say that, given the state's population and production of goods and services, its share should be larger.
The news of Ohio's gain comes from a new study by the Center for Entrepreneurship at Ohio State University's Fisher college of business.
"It's a breath of fresh air," said Michael Camp, author of the study and academic director of the Center for Entrepreneurship. A summary report was released this week.
Among the findings, which compared 2008 totals with 2007 numbers:
•Ohio had a 50 percent increase in seed and early stage investment dollars, compared with a 20 percent drop nationally.
•The number of Ohio companies receiving venture-capital investments for the first time increased by 15 percent, compared with a 10 percent drop nationally.
•Health care and biomedical sciences received the most money, with 61 companies combining to receive more than $200 million.
Several other sources confirm that Ohio's venture-capital investment rose last year, including the MoneyTree report from the National Venture Capital Association and PriceWaterhouseCoopers.
SSTI, a Westerville-based research group, conducted an analysis of the MoneyTree report to produce state-by-state totals. It showed $248 million in investment in Ohio last year, which was 0.88 percent of the national total, up from $170 million and 0.56 percent the previous year.
Ohio is one of many second-tier venture-capital destinations, said Phillip Battle, a policy analyst for SSTI. Ohio and other states trail California, which has 50 percent of the country's total.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.