What is the importance and status of venture-capital formation for the biosciences in Arizona?
Leading bioscience regions share one characteristic: they are home to a venture-capital community that is both oriented toward early-stage financing and committed to local investment. Having state-based local venture-capital funds with experience investing in bioscience companies is critical, for these funds help startup companies gain a foothold in the market. Venture-capital formation for the biosciences in Arizona continues to lag behind advanced communications/information technology but is narrowing the gap. Through the first three quarters of 2007, venture-capital funding for biosciences in Arizona totaled approximately $77 million, on track to meet the Bioscience Roadmap’s goal of $100 million for the year. The state accounts for less than 1 percent of all bioscience VC nationally.
