09 Oct 2014
More than two generations ago, the venture capital community – VCs, business angels, incubators, and others – convinced the entrepreneurial world that writing business plans and raising venture capital constituted the twin centrepieces of entrepreneurial endeavour.
They did so for good reasons: the sometimes astonishing returns they’ve delivered and the incredibly large and valuable companies that their ecosystem has created.
But the vast majority of fast growing companies never take any venture capital. Are they on to something that most of today’s entrepreneurial ecosystem – VCs, business angels, incubators and accelerators, and all the rest – have missed?
John Mullins, Associate Professor of Management Practice in Marketing and Entrepreneurship, London Business School