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Research Profiles

Larry Wilson

Technology that’s good for business, quality of life
When Larry Wilson imagines the types of private businesses that will fill Innovista, he thinks of the kind of companies in the investment portfolio of his venture capital firm.

“The businesses we’re looking to invest in are those that have the capability to solve complex business problems using innovative applications of technology,” says Wilson, a partner in Pequot Ventures, which announced March 4, 2008, that it will become FirstMark Capital LLC on June 30, 2008.

Pequot Ventures, a $2 billion venture capital partnership based in New York, has invested in businesses that make software for the insurance industry. Several of those companies, including EagleEye Analytics and Dovetail Insurance Corp., are already located in Columbia.

Wilson, a former Columbia insurance excecutive, told The State newspaper in January 2008 that Pequot wants to relocate the companies to Innovista. "The commitment is there between us and the university," he said. "Pequot and our companies are fully committed to Innovista."

Wilson also told the paper in March 2008 that the name change won't affect ties to the University and plans for Innovista. "The only change will be the name on the business card."

Saving money, improving lives
Wilson says creating better insurance software will keep more money in consumers' pockets. “The problem we’re trying to solve is that we all pay too much for insurance. The technology ultimately will make the insurance industry more efficient and reduce the cost of insurance so we have more money for education, recreation, and things that help our quality of life.”

The Pequot-backed companies--and similar businesses that will call Innovista home--are the types of firms that have the potential to improve the quality of life in Columbia and South Carolina by bringing high-wage jobs that raise the state’s per-capita income.

Wilson, who earned his bachelor's and MBA degrees from South Carolina, serves as chairman of the University’s Educational Foundation and is on the Research Foundation Board. He believes the University has been successful in becoming an “economic engine for the state.”

Investing in knowledge economy
Creating a knowledge economy is the key. “A great research university is a magnet. Technology businesses cluster around those research universities,” Wilson says.

“Intellectual property is the main product. These will be high-paying jobs, clean jobs from an environmental standpoint because they don’t use a lot of natural resources.”

Innovista benefits from strong University leadership, strategic state legislation to support funding for academic research, scholarships, and private research startups, and a future talent base of University computing and business students.

‘Best people in the world’
The quality of life that Wilson sees technology companies improving is already evident in Columbia. “It’s the climate, the geography, and, most importantly, the people. These are the best people in the world, especially from the standpoint of an employer.”

Related Links

Pequot Ventures/FirstMark Capital
$2 billion New York venture capital firm that has invested in several Columbia insurance software companies

University Educational Foundation
Supports University’s educational, research, instructional, scientific, literary, service, charitable, and outreach endeavors

University Research Foundation
Helps implement research grants and contracts, build infrastructure, and develop intellectual property for faculty