Despite a decade-long spree of public subsidies to the biotech industry and high-tech companies, Florida remains an also-ran in attracting venture capital, the lifeblood of the innovation economy.
Florida ranks a lowly 35th in venture capital funding from mid-2012 to mid-2013, according to a Palm Beach Post analysis. Florida venture investments of $237 million over the past year amount to $12 per resident, well below the national average of $83 per person.
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Lagging the pack
Florida ranks 35th in venture capital funding per person:
Rank. State: VC per person
1. Massachusetts: $452
2. California: $338
3. Washington, D.C.: $276
4. Utah: $117
5. Maryland: $116
National average: $83
35. Florida: $12