This discussion is shaping up in the other thread: https://news.ycombinator.com/item?id=5578195 . Also, I've been discussing it with other people for the past 48 hours. Austin is getting a lot of recommendation. I feel like #4-10 tech hubs are probably better targets than nonentities, but we'll see.

As I think about it, I don't want the governments footing the bill. I'd prefer to have at least 50% private investment (1:! matching?) as long as it's willing to stay passive enough not to interfere with engineer autonomy. Furthermore, over the long term, I'd want the ability of engineers to buy into the fund.