Frisco Economic Development Corporation Cultivates Venture Capital
Frisco Economic Development Corporation Cultivates Venture Capital
In an exciting development for the entrepreneurial landscape, the Frisco Economic Development Corporation (FEDC) has announced the appointment of Jon Nordby as the inaugural Venture Capitalist in-Residence (VCiR). This unique initiative is part of a larger four-pillar innovation strategy designed to connect a wider network of investors to the thriving tech startup ecosystem in Frisco.
A Visionary Initiative for Economic Growth
The VCiR program represents a groundbreaking step in promoting Frisco as a central hub for venture capital. By intertwining the city’s economic growth with innovative startups, the FEDC aims to facilitate valuable connections that can lead to new funding opportunities. The program is also expected to bolster Frisco's prominence as a destination for investors looking to tap into high-potential markets.
Jon Nordby: A Leader in Venture Capital
Jon Nordby, who has been recognized for his extensive background in the startup and investment sectors, will spearhead this initiative. As the managing partner of Anthropy Partners, a respected early-stage venture capital firm, Nordby brings a wealth of knowledge and experience. His role involves cultivating partnerships, representing Frisco at various investment events, and engaging with new venture capital firms to foster a vibrant local innovation ecosystem.
Setting Ambitious Goals
According to Jeremiah Anderson, Director of Innovation for the FEDC, the Frisco City Council has set an ambitious goal for the city to emerge as the capital of venture capital in the central United States by 2040. Despite already witnessing remarkable success, with over 35 startup exits and nearly 100 new investments in recent years, the city aims to leverage Nordby’s expertise to enhance its venture capital strategy further.
Capitalizing on Frisco's Unique Assets
Frisco possesses a unique blend of resources, talent, and access, creating an ideal environment for redefining investment practices in the region. Nordby's vision involves unlocking these resources to streamline capital flow and build a robust ecosystem for innovation and commercialization. His passion for Frisco’s potential reflects his belief that together, they can establish the city as a key player in the global venture capital landscape.
Building an Innovation Ecosystem
With over 400 startups and numerous corporate innovation and research centers already established, Frisco has laid a solid foundation for innovation. While other jurisdictions have attempted to attract investors, none have publicly committed to becoming a venture capital hub like Frisco. The city's dedicated resources and strategic approach demonstrate its commitment to growth and innovation.
Nordby's Proven Track Record
Prior to joining the FEDC, Jon Nordby was at the helm of EconWerx and the non-profit Anthropy Constructive, both renowned for their innovative initiatives. His previous experience with the Greater Houston Partnership and his role in establishing the HX Venture Fund adds to his credibility as the new VCiR. He is also a respected educator at the University of Houston’s Wolff Center for Entrepreneurship, known for nurturing the next generation of business leaders.
About the Frisco Economic Development Corporation
The Frisco EDC serves as a non-profit organization governed by a board of directors appointed by the Frisco City Council. Its primary mission focuses on job creation and enhancing the economic opportunities available to Frisco residents. The impact of the EDC's efforts can be seen in the hundreds of projects facilitated over the years, contributing to the city's rapid growth. For more information about their initiatives, visit FriscoEDC.com.
Frequently Asked Questions
What is the role of the Venture Capitalist in-Residence?
The Venture Capitalist in-Residence role involves building partnerships, connecting investors with startups, and promoting Frisco as a venture capital hub.
Who is Jon Nordby?
Jon Nordby is an expert in the startup and investment sectors and the managing partner of Anthropy Partners, appointed as Frisco's first VCiR.
What are the goals set by the Frisco City Council?
The Frisco City Council aims for Frisco to become the venture capital capital of the central United States by 2040.
How many startups are in Frisco?
Frisco is home to over 400 startups, along with numerous corporate innovation centers.
What initiatives is the FEDC involved in?
The FEDC is involved in creating job opportunities and facilitating major economic development projects throughout the City of Frisco.
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