Why Is Venture Development Important?
Venture-backed firms now account for a significant portion of current jobs in the U.S. economy.
- Employees from venture-backed companies represent 9 percent of all private sector U.S. employment and the revenues from venture-backed companies represent 17.6 percent of U.S. GDP
- U.S. companies that received venture capital resources from 1970-2006 now account for 10.4 million jobs and $2.3 trillion in revenue in the U.S. economy
- Venture-backed companies also grow much faster (revenues and employees) versus non venture-backed companies (11.8 percent versus 6.5 percent in revenues and 3.6 percent versus 1.4 percent in employment between 2003 and 2006)
As a result of these existing and on-going trends, the economy of communities that do not have a significant set of venture-backed firms will suffer on a competitive peer basis when evaluating economics such as job growth and per-capita income.
Read more about this topic: Venture Development
Famous quotes containing the words venture and/or development:
““If Steam has done nothing else, it has at least added a whole new Species to English Literature ... the booklets—the little thrilling romances, where the Murder comes at page fifteen, and the Wedding at page forty—surely they are due to Steam?”
“And when we travel by electricity—if I may venture to develop your theory—we shall have leaflets instead of booklets, and the Murder and the Wedding will come on the same page.””
—Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)
“This was the Eastham famous of late years for its camp- meetings, held in a grove near by, to which thousands flock from all parts of the Bay. We conjectured that the reason for the perhaps unusual, if not unhealthful development of the religious sentiment here, was the fact that a large portion of the population are women whose husbands and sons are either abroad on the sea, or else drowned, and there is nobody but they and the ministers left behind.”
—Henry David Thoreau (1817–1862)