Tehran(Bazaar): Dr. Thomas N. Duening in interview with Bazaar News Agency said: to encourage venture capital investing, and startup investing generally, governments should reduce the tax burdens and other government-imposed costs of economic risk taking.
He is Management Department Chair; Associate Professor, Management; Director, Center for Entrepreneurship; El Pomar Chair of Business and Entrepreneurship UCCS College of Business.
Bazaar: In which countries is this type of investment more prevalent? Why?
Duening :The United States has the most volume of venture capital in the world. This is due in part to the fact that venture capital as an industry began in the United States with the founding of American Research and Development Corporation in 1946. Since then, venture capital has grown into a multi-billion-dollar industry in the United States, and elsewhere around the world. It provides opportunities for large institutional holders of capital, such as insurance companies, pension funds, and family trusts, to diversify their investments and, on occasion, generate substantial returns on invested capital.
Bazaar:What are the challenges of investing in startups?
Duening :Startups, as most sophisticated investors are aware, have a high rate of failure. Thus, the challenge for all investors is to find opportunities where there is a good match between the startups founders and the industry in which they will be competing.
Bazaar:What should governments do in this regard?
Duening :To encourage venture capital investing, and startup investing generally, governments should reduce the tax burdens and other government-imposed costs of economic risk taking. Government can also help by incentivizing educational initiatives that help people understand how to consider, launch, grow, and exit a startup venture. The research on the economic impact of startups in regional and national economies is clear. Startups create most of the new jobs, are the foundation for intergenerational wealth creation, and help diversify economies to ensure their long-term competitiveness on the world stage.
Bazaar:What solution do you suggest to encourage investors?
Duening :The United States has two major non-profit organizations dedicated to angel investors and venture capital: The Angel Capital Association and the Venture Capital Association, respectively. These organizations are vital to the ongoing education and training of investors to help them make more informed decisions about capital allocation. Regional economic leaders should embrace investor education and help to ensure that the velocity and volume of capital in their region is adequate to the growth needs of startups.
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