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i2E steps in where venture capital lags for Oklahoma small businesses

Oklahoma entity steps in to invest in new businesses as available venture capital falls to lowest levels since 1998.
Published: April 30, 2013
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i2E investment of $23.8 million in Oklahoma companies has leveraged an additional $402 million in private investment. The economic impact of these investments exceeds 10-to-1. The activity produced by these funds has helped SeedStep angels grow to be the largest and most active network of angel investors within 400 miles.

The $70,000 average annual wage and 39 percent job growth for i2E's portfolio companies last year greatly exceeds the statewide average of $37,000 and growth rate of 1.9 percent.

Oklahoma is overcoming the absence of venture capital and creating jobs and wealth through its investment in early stage companies. The commitment that Oklahoma's voters made 25 years ago is paying huge dividends today.

It is nice when some things work out as they were drawn up (or even better).

Scott Meacham is president and CEO of i2E Inc., a nonprofit corporation that mentors many of the state's technology-based startup companies. i2E receives state appropriations from the Oklahoma Center for the Advancement of Science and Technology. Contact Meacham at i2E_Comments@i2E.org.


DID YOU KNOW?

States engaging in the $1.5 billion State Small Business Credit Initiative to fund state venture capital programs (Accelerate Oklahoma!, for example) expect that total private investment stimulated will be at least $4 billion.

SOURCE: U.S. Treasury Department

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