Monday, May 01, 2006

Challenges to Technology Job Growth

  • Lack of capital for startups.
  • Insufficient help for entrepreneurs and young companies.
  • Lack of coordination among technology-related organizations.
  • Poor connections between technology companies and traditional businesses in the community.

Sound like Pittsburgh?

Yes, but in this case, it's a description of Austin.

Although Austin is generally viewed as one of the nation’s leading technology regions, the Greater Austin Chamber of Commerce has created a new Technology Division to address these same issues.

It has also created the Central Texas Angel Network to help entrepreneurs find capital. The Austin Business Journal quotes the Chairman of the new angel network as saying "Angels are necessary to keep the start-up environment thriving in the region. With this group, businesses will no longer have to look outside Austin to find angel funding and central Texas angel investors will have access to quality deal flow without leaving town."

The challenges are the same in most regions. The advantage will go to those which address them most effectively.


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