Attracting venture capital from outside of the region for startup companies is critical to the success of those companies. Historically, that type of capital was hard to come by in this region. Which is why it is truly exciting to share that over the previous six months, more than $56 million in outside investments have been made in five current and former Tech Garden companies.
These investments include more than $22 million for SpinCar, a company that grew out of The Tech Garden in 2017 and is now part of the burgeoning tech corridor along Warren Street. It also includes a recent $16 million investment for Density, The Tech Garden’s anchor tenant. The company recently announced it will bring its manufacturing operation from Plano, Texas to a new 2,200 square-foot facility within The Tech Garden.
These investments demonstrate the impact so many private and public sector partners have been working towards over the past decade. In fact, between 1996 and the third quarter of 2003, on a per capita basis, this region attracted only $86 of venture capital compared with a national average of $541.
It's very exciting seeing the progress that has transformed and strengthened the entrepreneurial community. The commitment to providing quality resources to create a diverse ecosystem and advance companies along the Entrepreneurial Roadmap is unchanged.
This progress is not a finish line however, and The Tech Garden will continue to have an eye on the future to meet the ever changing needs of companies, at all stages, that utilize The Tech Garden. As such The Tech Garden has begun to evaluate the physical space it provides its clients, look at opportunities to create more spaces for events and networking, and explore an enhanced storefront along Harrison Street to showcase its efforts.
This is an exciting time for entrepreneurs in the region and for those of us who have seen the full trajectory of this progress! To learn more about Tech Garden programs click here.
Courtesy of Rob Simpson, President and CEO of CenterState CEO