And it calls for the economic development bank to begin a venture-capital program through which the city would invest equity funds in promising new companies.

As a result, there is less money available to help newer, more promising, companies.

People are still investing in promising companies, but they're a little more picky about their choices now.

The company was rated by Forbes as among America's top 20 most promising companies in 2011.

The fund means to nurture promising new companies on the East Coast in general.

Getting the theme right means little if investors choose the wrong stock; they must also comb the field for the most promising companies.

Looking to grow, promising companies like Shiva sooner or later almost always market a piece of themselves to the public.

But Celltech is just the latest promising company to be closed or sold.

"But even promising small companies are going bankrupt, and that's a problem for Korea."

That might be diverting money away from promising companies in other industries.