So You Want to Get Funded?
According to the National Venture Capital Assn. (NVCA), total venture capital investment for the first quarter of this year was at its lowest in 12 years, down 47% in dollar amounts from the fourth quarter of 2008, and 58% from the same period last year. “The VC industry isn’t immune from the downturn,” says Mark Heesen, NVCA’s president. 
But deals haven’t ground to a halt, even if they are smaller. “The first-quarter numbers might be down on last year,” says Bob Goodson, co-founder and chief executive of YouNoodle, a San Francisco company that tracks startups. “But we’ve been seeing activity every day lately.” Last month, for instance, medical innovator Lycera received $36 million in Series A funding to continue work on drugs to boost the immunity of patients with abnormal cell growth.
BusinessWeek asked YouNoodle to compile statistics of VC investment from mid-March to mid-April 2009. The idea was to gauge what types of innovation and invention might attract dollars in a downturn. The data could help innovators in various industries assess their odds of obtaining funding at this time. Read full story:
Technorati Tags: Reena Jana,Damian Joseph, Business Week, National Venture Capital Association, Mark Heesen, Bob Goodson, YouNoodle, PricewaterhouseCoopers, Thomson Financial, Gary Glick, National Association of Seed & Venture Funds, Jim Schoeneck, BrainCells, NCET, Nevada’s Center for Entrepreneurship and Technology
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