For example, the Nidus Center for Scientific Enterprise and the Danforth Plant Science Center in the St. Louis area are spearheading a collaboration by businesses and institutions in Missouri and Illinois to create a so-called silicorn valley . Many government and private institutions throughout the state are nurturing young tech businesses, and many new businesses in traditional industries are started each year which use new technologies to solve old problems. A defining characteristic of these new businesses is an incubation period followed by explosive growth.
Monetary capital is needed to fund both the incubation and the growth.
Skilled human capital also is needed. More recently, that focus has broadened to include talent in outside directors. Say you have a young tech-oriented company which has on its board of directors a seasoned business executive and a senior university professor specializing in your company s field. The contacts and experience those two directors bring to your company will give it a significant advantage in attracting venture capital dollars, as well as scientific and managerial talent. Consequently, an unprecedented number of young businesses are asking outsiders to serve on their boards of directors.