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Industry Stats Partial article cited from the St. Louis Regional Chamber & Growth Association (RCGA): Nearly one-third of the 25 fastest-growing private companies in St. Louis from 2002 to 2004 focused on technology. The region enjoys a concentration of high-end talent in IT — with particular strength in communications services, computer integration and application services, bioinformatics, and advanced systems integration and development. Washington University in St. Louis houses one of the nation’s top-ranking research facilities in information technology, St. Louis has an above-average concentration of jobs in fields like computer systems analysis, hardware engineering and software applications. Inc. Magazine, which in 2005 rated St. Louis among the best regions in the country to do business (out of 274), ranking 14th among large cities, beating out regions such as Cincinnati, Seattle and Minneapolis. St. Louis was cited as "a growing array of technology and business firms," resulting partly from the area’s "lower costs." Several IT companies in the St. Louis area have benefited from the rising level of venture capital in the area. In 2004, eight area IT companies were among the 19 of all kinds that attracted $120 million in venture capital funding. That was an increase of $26 million from the year before. Meanwhile, the region is making plans to expand investing in startup technology and new firms through the recent launch of Arch Angels, which provides seed and early-stage capital in the range of $250,000 to $2 million, as well as mentoring and assistance with team building, strategic planning and fundraising.
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contributing to the region’s IT brainpower.