Italy's Fiat SpA, a latecomer to China, is hoping an SUV will help it gain a foothold in a market where it set up its first joint venture just three years ago.

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Both states rank in the bottom 10 for attracting venture capital over the past three years, according to PricewaterhouseCoopers and the National Venture Capital Association.

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It took about three years for his venture, Employ Media LLC, to become profitable, he adds.

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