JEALOUS of CALIFORNIA’S ENTREPRENURIAL SPIRIT?

The CalBizBlog and the California Business Minute are supporters of the Golden State and its economy,
so it should not come as any surprise that the following piece advocates for the state.  Yet, while so much
of main stream media exaggerates and over-amplifies in an almost tabloid like mentality or possibly ignores,
is unaware or even possibly embellishes the business and economic issues of the state, the CalBizBlog
provides only the very best in analysis and examination of the state’s economic and business climate and
such is the case with this article.
 
Over the past sixty days, three articles have been written in newspapers across the country extolling the
virtues of innovation in emerging technologies and the entrepreneurial spirit of California.  Had it been just
one article, we probably would have provided just a short quip.  Had it been two articles, maybe some mention,
but three articles, specifically spread across the nation written in such a close timeframe by three different writers
illustrates the envy towards the state that unfortunately is seemingly never synthesized into a positive nature on
the state’s business and economic climate and this certainly justifies this presentation.

However and unfortunately, few in mainstream media take the time to see how others perceive our state and
how people view it positively. The premise of each of these articles is to illustrate that others want to aspire
to a business environment similar to California’s.  Our intent is the need to reinforce and inspire Californians
for a job well done. Thus insight is the reason behind CalBizBlog and the presentation of these articles .  the articles published in newspapers from New York, Michigan and Missouri reflect a very envious perspective of California; almost characterized as a jealous-specifically of our business infrastructure supporting entrepreneurship, and so we thought that deserved further insight.

NEW YORK
In the Albany Times Union in New York, by guest columnist John Vero November 25, 2007 ‘Region’s Innovation
Needs to be Embraced’ it advocates that innovation be embraced.  He believes that innovation is the direction
that Upstate New York as well as the rest of the state should embark upon to achieve a similar entrepreneurial
environment found in California.  Vero laments that New York needs a swagger like that which Governor
Schwarzenegger’s, provides with California.  He illustrates further that the Governor challenges Californians to
be the best and brightest, pushing emerging and innovative technologies.  He complements the Governor for his
 forthright attitude. Vero admires his tenacity and zeal that the Governor has for his positions and towards California. 
Vero notices that the Governor is not afraid to say what he thinks. “He's not afraid to make challenging statements”
said Vero, “specifically when it comes to promoting California and California business.”  Vero believes California’s
Governor has the right attitude. Vero believes Schwarzenegger's attitude is something to which New Yorkers are
 not, unfortunately, accustomed to, specifically in Upstate New York.

Vero’s premise is that once upon a time New York was once the nation’s innovator, from
pioneering in radio and television transmission, to railroads and university systems, but it unfortunately now lags
 behind the mighty west coast economy of the Golden State in emerging areas of nanotechnology, software
development, robotics, pharmaceuticals, biosciences, university research and growth of green and clean tech.

Vero concludes that New York needs to take a sheet from California’s playbook and restore its economic swagger.

MICHIGAN
In the Detroit’s Free Press, by columnist Tom Walsh, November 25, 2007, ‘Venture Capital Conference is
One Step in Shedding Also-Ran Label.’ Walsh provides insight to Michigan’s steps to relinquish its dependence
on old giant manufacturers and begin to Act like California.  Walsh identifies that “In the world of venture capital
for new and growing firms, Michigan is known as a flyover state, a place bypassed by the big money people doing
deals in Silicon Valley, Boston and other entrepreneurial hot spots on the West and East coasts.”

Efforts to shed that rap will get a boost soon, now that key Michigan economic development officials have won a
bid to host the 2008 conference of the National Association of Seed and Venture Funds, Sept. 10-12 in Detroit.
The NASVF annual conference is expected to draw 300 investment and economic growth professionals from about
45 states and a dozen countries to Detroit.

At present, Detroit and Michigan are also-rans in the venture capital game. Michigan ranked 35th among the 50
states in venture capital investment during the July-September period, after ranking 20th during the second quarter,
according to tallies by PricewaterhouseCoopers.

Walsh asks rhetorically, how far is Michigan behind the leading venture capital states? Look at it this way: Michigan
attracted about $100 million in venture capital per year, on average for the past five years, while California got $3.3
billion of venture investment in just the most recent three months.

Walsh recognizes that between the Silicon Valley and Boston, gets nearly 60 percent of the venture capital. 
Walsh hopes that the gap can be closed in mimicking California.

MISSOURI
In the Kansas City Star, by columnist Jason Gertzen ‘Missouri lags in backing high-tech startups’ Gertzen illustrates
that Missouri’s high-tech economy is an underachiever.A major culprit appears to be the state’s limited support for
research and technology commercialization, according to a study by Mark Parry, a professor specializing in
entrepreneurial leadership and marketing at the Henry W. Bloch School of Business and Public Administration
at the University of Missouri-Kansas City.

“Missouri seems to be significantly behind what other states are doing,” Parry said.
Entrepreneurs in high-tech hotbeds often find venture capitalists and angel investors willing to provide cash to fuel young businesses. But as Gertzen identified in Missouri, not so much. Technology entrepreneurs here, especially those in the Kansas City area, have found it challenging to land venture or angel investments

Doing nothing, or even almost nothing, is a poor strategy for a state such as Missouri that aspires to turn scientific
discoveries into good jobs, new companies and a healthier economy, Parry said.

“Good ideas get funded, but those ideas move,” Parry said. The most promising technology often is licensed for use
by an out-of-state company, or a Missouri entrepreneur takes a startup venture elsewhere after not finding the investment support closer to home, Parry said.

“It may start in Missouri, but if the company goes to California or the East Coast, another state gets the benefit of
 economic growth and high-quality jobs,” Parry said.