WHAT: The Minnesota High Tech Association will hold a press conference
to call for a portion of the budget surplus to be set aside for a
"sunny day" fund to be invested in the state's technology
expansion.
WHERE: Minnesota State Office Building
100 Constitution Avenue
St. Paul, Minnesota 55155
Room 181
WHEN: Tuesday, March 7, 2000
2:00 p.m. - 2:30 p.m.
WHY: Minnesota's presence in the new high tech economy is declining
dramatically. In order for the state to be competitive,
increased investment needs to be made in education, research and
infrastructure. Despite Minnesota's current dynamic economy,
numerous reports point to a less-than-robust future.
One of many indicators raising concern is Minnesota's share of
venture capital. According to PricewaterhouseCoopers' Internet
Partner, Jay Hare, venture capital investments grew 129 percent
nationally from 1995 through 1998; at the same time, Minnesota's
grew by only 28 percent. Our share of the national venture
capital pie dropped from 3 percent in 1995 to 1.3 in 1998.
The Minnesota High Tech Association is calling for immediate
action to reverse this trend.
WHO: R. Jane Brown, President, Minnesota High Tech Association
Larry Jodsaas, 2000 MHTA Chair and President and CEO, VTC, Inc.
Christine Maziar, Vice President of Research and Dean, Graduate
School, University of Minnesota
CONTACT: R. Jane Brown, Minnesota High Tech Association, 651-683-3889
Jennifer O'Brien, Minnesota High Tech Association, 651-683-3887
SOURCE Minnesota High Tech Association
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