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2.8million
people in Greater St. Louis |
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The St. Louis area is fertile ground for entrepreneurs and small businesses and is becoming more so all the time. Recent progress in assisting startup companies, coupled with nearly $1 billion in venture capital already invested in technology firms here since 2000, is establishing St. Louis as the center of innovation in the Midwest. The area is a leader in the establishment of business incubators, with nine at last count. These incubators include:
In May 2006, a client of the Nidus Center for Scientific Enterprise, Chlorogen, was named 2006 Outstanding Incubator Client in the technology category at the National Business Incubation Association's 20th International Conference on Business Incubation in St. Louis. Visit the BioBelt News section for more information about Chlorogen and the latest news about St. Louis BioBelt companies. The area is also rapidly establishing a vibrant venture capital environment. In 2004 alone, two established venture capital funds and a new fund-of-funds raised nearly $200 million; two out-of-town venture capital firms established a St. Louis presence; venture capitalists invested more than $120 million in 19 companies; an angel investor network was organized; and several strategic alliances were established between venture-backed and large technology companies. More resources to help entrepreneurs are developing rapidly.
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