I came across an article in the New York Times entitled “Weary of Looking for Work, Some Create Their Own,” which really brightened my day. Amidst all the economic turmoil it’s great to see the entrepreneurial spirit strengthen as a response. Innovation is the backbone of our economy. Without it, we simply won’t have the game-changing economic growth needed to end the global financial crisis. I’m lucky in that it’s my job to help startup founders with good ideas secure funding to help their dreams grow, but there is also a consensus among eager entrepreneurs that they are all deserving of new capital. Unfortunately, all startups are not created equal.
Even with nearly six million new businesses started every year, the process for creating American innovation remains remarkably inefficient. The time, effort, and capital wasted on genetically-flawed businesses represents the loss of tens of billions of hard investment dollars and millions of jobs, with only small fraction of companies actually surviving the gestation process.
With so much as stake, creating successful new ventures simply cannot be a congressional afterthought, or a hobby for the wealthy. To accelerate economic growth, the time is now to focus on creating sustainable new ventures faster and with more efficiency than ever before.
Are Jellyfish the answer, time will tell?
Go to www.venturephenomeproject.com to contribute to the effort to make this market more efficient for everyone.