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Comprehensive review of VDO investments highlights multi-billion-dollar economic impact of investing in early-stage innovation

Wednesday, September 24, 2025

SSTI recently examined the investment histories of 31 Venture Development Organizations (VDOs) across 20 states to quantify their impact and help to characterize how the broader technology-based economic development (TBED) community supports long-term innovation-driven economic and financial returns. Our top-level findings showed that

SSTI recently examined the investment histories of 31 Venture Development Organizations (VDOs) across 20 states to quantify their impact and help to characterize how the broader technology-based economic development (TBED) community supports long-term innovation-driven economic and financial returns. Our top-level findings showed that  VDOs have invested in 4,600 companies,  VDO-backed companies employ 323,000 people and pay nearly $29 billion in annual wages,  companies supported by VDO investments have gone on to raise $25 billion, and  the median deal size for VDOs is $260,000. 

Georgia Research Alliance companies raise more than $2B in venture capital

Thursday, October 6, 2022

The Georgia Research Alliance (GRA) — a nonprofit working to grow Georgia’s economy through supporting research at state universities — recently announced that its portfolio of companies had raised more than over $2 billion in venture capital. These startups also had a high survival rate — 88% were still in business four years after launch, outpacing the national average of 44%. Along with this announcement, GRA released 2021 data on their economic impact on the state, demonstrating growth from the previous year.