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Entrepreneurs and VCs say Midwest and rural regions lack venture infrastructure; witnesses urge easier fund formation and local investor engagement
Summary
Founders and early-stage investors described how limited local VC infrastructure and high fund minimums impede capital formation outside major hubs; witnesses proposed making it easier to form venture funds, lowering minimums and educating local investors.
Witnesses who founded and run startups and regional venture funds described persistent capital gaps for entrepreneurs in the Midwest and other noncoastal regions, and suggested policy and private-sector steps to close them.
Andrew Barnell, CEO of Genoscopy in St. Louis, said raising early rounds from outside traditional venture hubs was difficult: “there are only a…
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