One key factor that likely advantages American startup companies relative to those in less-developed economies is the existence of a thriving venture capital industry (VC) that enables bold innovation. In the spirit of the adage that government could learn a lot from businesses, here are some practices and concepts from the VC ecosystem that differ from those found in government, and which some government agencies might be able to embrace. Based on a recent presentation by venture capitalist Rob Ness at a Government Analytics Breakfast Forum event sponsored by Johns Hopkins University and REI Systems, government agencies that seek innovation as a key part of their mission, like NASA, the National Science Foundation and the National Institutes of Health, may find this useful.
