CLEVELAND – What does the Detroit-Ann Arbor area have over Chicago, Cleveland, Indianapolis, Columbus and Pittsburgh? The ability to attract venture capital for health-care companies, at least during the first nine months of 2009.
This exciting news came from Cleveland-based BioEnterprise, a nonprofit that promotes the growth of biotech companies. The study shows the Detroit-Ann Arbor area got $70.8 million in funding.
In the Midwest, only Minneapolis received more – $133.3 million. Following Detroit-Ann Arbor are Cleveland – $55.7 million; Indianapolis – $39.2 million; Chicago – $38.8 million; Pittsburgh – $28.9 million; and Columbus – $11.7 million.
Ohio attracted the most health-care VC money in the Midwest with $137 million, while Minnesota came in second with $134 million, and Michigan ranked third with $88.7 million.
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