That group is not large, either. But only 25 of the 300 are active investors in local technology startups. Despite Goodall's experience, things are getting better for local entrepreneurs. Since 1995, at least four venture capital firms have formed in southwestern Pennsylvania, most of them focusing on local companies exclusively and some of them willing to invest heavily in early-stage ventures. Silicon Valley Bank, a commercial lender that targets small, high-growth technology firms on the West Coast, set up an office in Rockville, Md. to serve Pittsburgh and Philadelphia.
More help is on the way.
It will not limit its investments to the region, but local companies are expected to receive top priority. Edison also has a seven-year investment in DXI Inc., a Robinson provider of software products for the ocean freight shipping industry.