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Biz Journal

In: Business and Management

Submitted By asdasddk
Words 298
Pages 2
In this article the author outlines the new business prospects that are hoping to come to the Michigan and Ohio area. The midwest has provided us with companies such as Tumblr and Trip advisor and we all know that the Silicone Valley provides up with most social media we have all learned to love or hate but where is Michigan is the race? Chris Olsen thinks that someone coming out of OSU or UofM could produce the next big thing and is putting money into small firms, $250 million to be exact. These investments, that we learned in chapter 6, are part of equity financing, where investors put the money in for shares of stock. Entrepreneurship is also a very large part of this, Olsen and his partner Mark Kvamme are general partners at Drive Capital and have helped over 20 different entrepreneur based companies to get on their feet. Since they moved from Silicone Valley to Ohio they have invested in 4 small businesses in the midwest. These small businesses are part of the innovations and new industries that we learned about in Chapter 5.Our BizNews is an example of investment(chapter 6), Entrepreneurship(chapter 6 and 2), small businesses(chapter 5) but also a vision for the future and the business industry. As seen in chapter 2, vision is an important part of success. Olsen and Kvamme’s vision is to bring the industry to states like Michigan and Ohio. Their partnership shows that their joint vision is to change the way the consumer thinks and feels about the industry they see as only in the silicone Valley.Olsen and Kvamme believe in the midwest an want to show that technical businesses don’t only come from California, but can come from Michigan and Ohio too.

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