Oct 19, 2011
From staff reports
The National Association of Seed and Venture Funds (NASVF) has selected the State of Ohio to host the 2012 annual venture capital conference, where industry leaders will share their knowledge and discuss the best practices and tools for building and managing strategic investment programs and institutions. The conference will be held in Cleveland, Oct. 15-17, 2012.
In addition, NASVF President and CEO Jim Jaffe has committed to establishing the organization's first "brick and mortar" headquarters in Ohio at the Lorain County Community College, which will be established in early 2012. NASVF will bring up to four employees to work in Northeastern Ohio.
The Ohio Department of Development and JobsOhio provided valuable guidance to Jaffe during his many visits to Ohio, showcasing the state's strong business climate, supportive tax structure, and numerous investment opportunities. NASVF officials were also impressed with the University System of Ohio, and plan to collaborate with Ohio University to develop additional curriculum for Ohio's up and coming investors and entrepreneurs.
"We are very pleased to have this opportunity to collaborate with NASVF and our Ohio partners," said Roderick J. McDavis, president of Ohio University. "Drawing on Ohio University's expertise in rural economic development, we look forward to joining with our partners to create innovative educational programs for the next generation of investors and entrepreneurs."
The NASVF decision will provide numerous benefits to the State of Ohio, including:
• Establishing Ohio as the state with the "Innovation Portfolio of America"
• Supporting the mission of Ohio Third Frontier to grow Ohio's innovation economy
• Attracting investments from outside Ohio
• Growing the investor community in Ohio
• Increasing innovation capital availability for Ohio companies
• Improving Ohio's profile as a top location for entrepreneurship and investment
• Promoting educational involvement with Ohio's higher education institutions NASVF is a global nonprofit organization with 200 member organizations (22 from Ohio) and 800 individual members. The organization promotes investments in seed and early-stage companies by supporting entrepreneurship and job creation through the formation of innovation capital programs.
"Seed and early-stage innovation capital is an integral part of growing the businesses that will create the jobs of the future," said Mark D. Kvamme, president and chief investment officer for JobsOhio. "NASVF has a record of helping entrepreneurs find the necessary capital to build their businesses and we welcome them to Ohio."