Venture capital dribbles into Johns Hopkins startups
I just had a good conversation about Hopkins startups with Aris Melissaratos, the former secretary of the Maryland Department of Business and Economic Department who is now a top senior advisor to Hopkins U's president.
Here's an interesting stat he tossed out: In fiscal 2008, Hopkins' researchers spun out 12 companies that attracted $76 million in venture capital. (Most of the investment came from VC firms in California and Europe.)
In the last fiscal year (July 1, 2008 to June 30, 2009), Hopkins sprouted 10 companies. Not bad, considering the recession, right?
Well, take a look at how much money they were only able to attract? Just $3.2 million, Melissaratos said.
Ouch. Shorthand explanation: Blame the recession.
This is one of several facts I'm going to include in an upcoming story that surveys the state of the startup scene, in terms of investment funding availability, in the Baltimore area. Stay tuned.
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