If Not “The Next Silicon Valley,” How About “The Next Boulder”?

June 7, 2011 at 6:00 am PT

Upstate New York is no one’s idea of the next Silicon Valley, but Ithaca, N.Y.-based Cayuga Venture Fund hopes to convince people the region might at least be the next Boulder, Colo.

It’s a relatively modest goal, compared to the outlandish promises made by some boosters who portray their particular corner of the country as the next high-tech Mecca. But it’s still one that upstate New York, land of the Finger Lakes and Fort Ticonderoga, has a ways to go to achieve.

Venture capitalists have descended on New York City in recent years, fueling a boom in Web and media start-ups, but so far this enthusiasm hasn’t stretched beyond the NYC metro area. Outside of the city, just 16 deals were completed in the rest of the Empire State in each of the past three years, according to Dow Jones VentureSource.

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Tagged with: Christopher Zinsli, The Wall Street Journal, venture capital, Venture Capital Dispatch

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