Marcus Hiles Says Austin Big Player In Venture Game

Marcus Hiles Says Austin Big Player In Venture Game
Marcus Hiles Says Austin Big Player In Venture Game

Boasting one of the region’s most developed workforces and attractive local tax incentives, Austin led investments in Texas with $626 million, a twenty percent increase from 2015. Marcus HIles points out that the city saw its largest annual dollar figure since 2001, along with a mercurial rise to prominence. “Austin is a brand, and venture capitalists love it,” said Bernard Weinstein, an economist at Southern Methodist University, “They look to Austin to be a leader in IT and software development.” The software industry played host to the majority stake of investments, with $328 million going into forty-two deals. Biotechnology and IT services raised $120 million and $56 million, respectively. Austin’s Mayor Steve Adler believes the city’s willingness to innovate has been imperative to their success, “There’s a reason that tech and transportation companies come to Austin to roll out their new initiatives. And that’s because Austin is where good ideas become real.”

Read more: http://www.marketwatch.com/story/marcus-hiles—-responds-to-texas-role-as-number-one-in-the-country-for-capital-investments-2016-09-18-51603013

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