NEW Silicon Valley Venture Capitalist CONFIDENCE INDEX, released by the University of San Francisco Entrepreneurship Program, suggests high confidence in near term entrepreneurship environment (www.EntrepreneurshipProgram.org).
The University of San Francisco Silicon Valley Venture Capitalist CONFIDENCE INDEX for the first quarter of 2004, based on an April survey of 24 San Francisco Bay Area Venture Capitalists, came in at 4.3 on a 5 point scale, and suggests an acceleration of Bay Area venture financings and entrepreneurial activity.
San Francisco, CA (PRWEB) May 26, 2004 -— Venture capitalists from the San
Francisco Bay Area have a high degree of confidence in the entrepreneurial
economy over the next six to 18 months, according to a new Confidence Index
released today by the University of San Francisco School of Business and
Management Entrepreneurship Program (http://www.EntrepreneurshipProgram.org). The USF Silicon
Valley Venture Capitalist Confidence Index came in at 4.3 on a 5-point scale,
suggesting an acceleration of Bay Area venture financings and entrepreneurial
activity.
“If venture capitalists are confident in the start-up
atmosphere, they will invest more money in new companies and therefore help
create a stronger entrepreneurial environment. This will translate into new
company formation and higher growth and more jobs for the local economy,” said
Mark Cannice, associate professor of entrepreneurship at the USF School of
Business and Management and co-creator of the Index.
Some of the
responding venture capitalists also gave an assessment as to why they had a high
degree of confidence in upcoming venture investing. Bryant Tong, partner with
Nth Power, has seen a “change in the attitude of VCs.” Kent Goldman, an
associate with Venture Strategy Partners, indicated that “the main driver is
that IPO doors are opening”, while Shomit Ghose, partner with Onset Ventures,
said that “Fortune 500 companies are starting to buy again.” Skip Fleshman, a
principal with Asset Management, commented that “great ideas and founders have
been hibernating.” Further, Joe Mandato, partner with DeNovo Ventures, added
that “lots of new money is being raised.”
The USF Index, created by
professors Mark Cannice and Roger Chen, will be issued quarterly. The results
for the second quarter will be announced in July. Both Cannice and Chen look
forward to an increasing number of respondents every quarter. This time, 24
venture capitalists answered the survey in April.
For more information,
contact Mark Cannice, USF Professor, at e-mail protected from spam bots or (650)
483-6846.
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Source : http://www.prweb.com/releases/2004/5/prweb128348.htm