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Oregon Start-ups Defy Recession
Venture capitalists invested nearly $190 million over the course of 2008, which, although down 11% from 2007, is still 20% higher than its average over the past half-decade.
THOM MATTHEWS
Oregon, the Beaver State, home to the most resilient small business owners in America. As the United States hurtles toward a full-blown, belt-tightening recession, start-ups in this anomalous State are defying the trend. It is estimated that venture capitalists invested nearly $190 million over the course of 2008, which, although down 11% from 2007, is still 20% higher than its average over the past half-decade.
As the rest of the United States is seeing investment suffer from recessional rigor-mortis, Oregon is, according to new data from Dow Jones Venture Source, still benefiting from risk-taking start-ups and investors. In the past, Oregon has often succumbed to slow venture investment as other States do, but this time they are setting the precedent.
Two venture capital companies set up in Oregon last year, Voyager Capital and Madrona Venture Group, and both are expecting to welcome more investment opportunities in the coming months. Oregon is quickly earning the reputation of a "sophisticated start-up" State, and although a few businesses have been closing, the figures aren?t idiosyncratically recessional.
So, if you still see the United States as a viable location to do business, why not join the Oregon success story.