Aurora, CO mayor sees proposal as brain food. City sponsored Venture Capital Fund to build businesses. What is your city doing?

Mayor Ed Tauer wants to use some of the money the city unexpectedly had left over last year to create a venture capital fund to help startup biotech and other knowledge-based companies.

Tauer discussed the idea at a joint speech with Denver Mayor John Hickenlooper on Thursday and also at his State of the City speech the day before.

Aurora’s finances last year were boosted by an extra $8 million, half of which was set aside for a lawsuit filed by the Calpine Corp., which was dropped.

Tauer wants the City Council to approve using a portion of what he called a windfall to help fledgling businesses, particularly bioscience firms.

By Jeremy P. Meyer
Denver Post Staff Writer

Full Story: http://www.denverpost.com/business/ci_3657439