Alan Hald, another Tempe-based entrepreneur and co-chairman of the Arizona Partnership for the New Economy, points out that Phoenix lacks the venture capital that brings the whirr to other high-tech hubs, such as Austin, Los Angeles and New York.

ECONOMIST: Urban boosterism

Investors in Widevine include Constellation Ventures , Cisco Systems , Charter Ventures , Dai Nippon Printing , Pacesetter Capital Group , The Phoenix Partners , TELUS (TU) and VantagePoint Venture Partners .

FORBES: Google Buys Widevine

In December, CapexMD agreed to start making loans to patients buying eggs from the World Egg Bank in Phoenix, which previously offered financing through Capital One.

WSJ: In Vitro a Fertile Niche for Lenders

It also reported that the first phase of its capital investment programme - known as Project Phoenix - remained on budget and on track for completion during the first half of this year.

BBC: Stirling firm Superglass installs new production line

EODC's shares in Phoenix already pledged as collateral, the firm needs an injection of capital from a white knight.

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