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Georgia Research Alliance companies raise more than $2B in venture capital
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.
GRA’s portfolio now contains 226 startups, up from 195 in 2020. Additionally, these companies currently employ 1,710 professionals, a 22% increase from 2020, generated over $153 million in revenue and attracted over $37 million in public and private grants in 2021.
The venture development program at GRA supports Georgia researchers at state universities by helping them bring inventions to market. They do so by providing seed grants, loans, and business counsel. GRA provides investments at an early stage when researchers have developed a proof of concept but still need to show market viability. Most invested projects — six out of 10 — eventually become startup companies.