Local startups stalled by lack of capital

4/23/2014

Northeast Ohio is mass producing high-tech companies, but something is wrong with the assembly line.

There aren't enough local investors willing and able to fund the dozens of tech companies pouring out of the region's three business accelerators and other programs designed to help local startups, according to several sources.

Competition for cash is increasing at a time when the pool of capital is shrinking. And locally, the pool was never that big.

As a result, some startups could leave the state in an effort to find investors elsewhere.

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