Silicon Valley: A Powerhouse for Innovation

Silicon Valley's economy is a powerhouse. Representing 14% of U.S. Gross Domestic Product, if California were a country, it would have the sixth biggest economy in the world. Although it has remained successful for decades, California was not always the leader that it is today. What about California led it to become a high-tech phenomena? The Growth of Silicon Valley Semiconductor Expertise Although Silicon Valley is well-known among the American public today, this area was not always known f...
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Capitalizing on Competencies: Augusta, GA’s Innovation Path

Cities around the country constantly aim to increase their innovative competitiveness. The city of Augusta, Georgia, continues to emphasize this goal to boost the local economy. After thorough research, the McNair Center generated suggestions to help Augusta’s leaders drive this growth. The Ideal Situation for Growth Although there are more than 28 million firms in the U.S., economic growth comes disproportionately from only a tiny fraction. More than half of growth in the American economy com...
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Houston’s Next Step: The Role of Funds of Funds in Venture Capital

Recently, Houston Exponential announced plans to create a venture capital Fund of Funds (VC FOF) to support the local entrepreneurship ecosystem. This strategy has been used by other cities and regions, such as Michigan and Cincinnati, to spur local startup growth. Private firms also offer VC Fund of Funds. What does this type of fund look like, and how has it played out in other locations? The Basics FOFs are funds that invest in multiple smaller funds. The increased diversification that they...
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