20160104-NEWS--1-NAT-CCI-CL_-- 12/30/2015 2:17 PM Page 1 VOL. 37, NO. 1 JANUARY 4 - 10, 2016 GOLF: Membership drive 35th Anniversary Business of Life Solon club tries to avoid shutting down P. 2 Source Lunch Anthony Margida dishes on HEALTH CARE: Biometrics the Akron tech scene Hospitals get better grip on records P. 17 P. 2 EDUCATION: Enrollment ACE Report Colleges adjust as prep numbers drop Area experiences slight jobs drop P. 4 CLEVELAND BUSINESS P. 6 Investors add cash, but VC firms absent Just one traditional venture capital group receives state funding, which is concern BY CHUCK SODER of the Ohio Third Frontier program. And JumpStart itself did extremely
[email protected] well: It received $12.5 million that it @Chuck Soder will use to invest in high-tech start- ups via three separate funds. The list of tech investors that re- Still, Northeast Ohio needs a few ceived loans from the state of Ohio more conventional venture capital last month is telling. firms, given that they tend to make Only one classic venture capital somewhat larger investments, Leach firm made the cut. And that firm — said. NCT Ventures of Columbus — got in He posed a question, referring to by the skin of its teeth. all 20 applicants: “Who is the classic, Instead, almost all of the $60 mil- pure Series A venture investor that lion went to economic development invests in a broad range of technolo- organizations, groups of individual gies and companies that are pre-rev- “angel” investors and other organi- enue? Pretty slim.” Predictions 2016 zations that don’t fit the mold of a Here are a few insights that can be traditional venture capital.