Thanks to Amy Schmitz for passing on this interesting article, How to Restart America’s Innovation Engine, from Daily Finance.
William Sahlman a professor at Harvard is interviewed on entrepreneurship and capital in the article by Peter Cohan. While Sahlman is one of the guru’s of entrepreneurship education, I’m not sure I would agree with him that most talented management teams have no trouble getting capital. I've seen too many great teams with outstanding ideas go no where with VC's because they weren't in that particular hot space.
However, I do agree with him that VC’s provide a very important source of capital to the entrepreneurial marketplace, and that they “spearhead innovation” throughout the economy. I also enjoyed the praises that Professor Sahlman heaped on the angel investors, one of the least recognized and yet most important pieces of the financing continuum for entrepreneurs.