Setting up in-house incubators for startups, expanding overseas, moving to a more distributed management, and funding venture research to solve specific problems, are amongst the strategies for moving the sector forward discussed at a meeting of venture capitalists at MIT last month.
“You have to proactively identify visionary entrepreneurs and their companies, be a value-add and build the management team, and establish the culture of the organisation,” Henry McCance, chairman emeritus of Greylock Partners told delegates at the event, which was held to celebrate the 65th anniversary of the US venture capital industry.
McCance described turning these ideas into reality when he embarked on a personal mission after his wife was diagnosed with Alzheimer’s disease 10 years ago. He soon found there are no effective treatments. “Quite frankly, I was appalled,” he said. “The disease affects 5.5 million Americans, and it was discovered 100 years ago. Why is the research so ineffective?"
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Author: Lori Valigra
