Welcome to First State Innovation

As we look at today’s global economy it is becoming very clear that the growth of Innovative Entrepreneurial companies will be a key element in the in rebuilding and sustaining economic growth in the State in surrounding Region. Since it's founding in 2006, FSI has played a leading role in drawing attention to the important segment of the economy and as we look towards the future, role will continue. While progress has been made there is still much to do.

The growth of innovative, entrepreneurial companies requires an entrepreneurial eco-system that not only supports entrepreneurs but encourages potential investors. The process requires a continuum of events and support that enable an idea to become a successful business. This continuum typically begins with an idea, if viable supported by early seed funding, which leads to proof of concept, followed by the development of business plan. Based on the strength of the business plan and the quality of the management team, the company can then attract more substantial Angel, Venture Capital or other funding. As the company proceeds through this early stage process, follow on funding is almost always required and the need for additional human capital resources and mentoring is also often necessary.

Since its inception FSI has helped create an environment that makes it easier for high tech innovative, growth oriented, and emerging companies locate the resources they need to grow and prosper. As I indicated in my December message we are now in the process of developing specific plans that will enhance our ability to continue to fulfill our mission to provide support to entrepreneurs in this ever changing environment. Building on our past success we are committed to working with similar minded organizations to make the State and Region a hotbed of innovative entrepreneurial activity.

The future is bright for FSI, the State and Regional economy.