Former Jobs Ohio Chief Still Bullish on Ohio

Written by Innovate New Albany@InnovateNA12 years ago

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Mark Kvamme who recently left his post as president of Jobs Ohio, the state’s economic development enterprise, has launched a venture capital firm, Drive Capital, focused on the Midwest and, particularly, Ohio where he cites a lack of access to capital as a barrier to economic growth.

Kvamme who is now a central Ohio resident, noted recently that only 7 percent of the nation’s venture capital is invested in the Midwest compared to 51 percent in Silicon Valley alone.

A partner at Sequoia Capital, Kvamme has the right chops for the job. In fact, he is currently a director to some of the most successful startups, including LinkedIn, Cast Iron Systems, Funnyordie.com, StrongMail Systems, Mark Logic and Adbrite.

Innovate New Albany, the city’s incubator for technology startups, entrepreneurs and small businesses, features 16,000 square feet of space within the New Albany Business Park’s Signature Office Building, 8000 Walton Parkway.