Thousand Leaves

3/4ths of experienced entrepreneurs didn't rely on venture capital

I just completed a research project in which we interviewed the founders of 549 successful companies in several high-growth industries – the ones VC’s are most likely to fund. We selected companies that had made it out of the garage and were generating real revenue. Guess what? Hardly ten percent of the serial entrepreneurs took venture money in their first startups. In their subsequent launches, the proportion who took venture money went up to a quarter. In other words, three-quarters of even the most experienced entrepreneurs didn’t rely on venture capital

--UC Berkeley Visiting Scholar Vivek Wadhwa via techcrunch.com