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Do Venture Capitalists Foster Innovation, or Just Pay For It?
Filed in archive Venture Capital by Greg Cruey on September 28, 2009
Do Venture Capitalists Foster Innovation, or Just Pay For It?
Vivek Wadhwa is ticked. He thinks the National Venture Capital Association's (NVCA) is taking too much credit for the success for American business, according to a guest column he did for TechCrunch.
I'm amused that the NVCA claims credit for creating 12 million jobs and generating $3 trillion in revenue (that's only 21 percent of U.S. GDP). In the software industry (which includes Internet/Web 2.0), they stake claim to 81% of the all jobs created. Yes, 81%. Can they please give the entrepreneurs who risk their life savings, max out their credit cards and put their families in the back seat a little more credit? We're not talking about divvying up the company's stock here, just a pat on the back.
Wadhwa takes a look at a recent NVCA report, and at the relationship between VC's and entrepreneurs. It's an interesting read.


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Tags: Vivek  Wadhwa  venture  capital  NVCA  2009  venture+capital  venture+capitalists 
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