Almost every locale is interested in economic development. Intellectual property often results from economic development through new new inventions and creative works. Below are two ideas for economic development from venture capitalists.
Fed Wilson recently explained what the civil leaders looking to revitalize and attract new business need to do. Instead of focusing on tax incentives, connecting with local research universities, and providing startup capital, Fred says you need to first build a community that people, especially young people, want to live in:
I’ve been asked by civic leaders from places like Newark, Cleveland, Buffalo, and a number of other upstate NY cities that have suffered a similar fate how they can do the same thing. They all talk about tax incentives, connecting with local research universities, and providing startup capital.