ABSTRACT
Venture capital has played a key role in advancing the innovation economy of the United States. According to the National Venture Capital Association, US companies that received venture capital between 1970 and 2005 accounted for approximately 10 million jobs and $2.1 trillion in revenue in 2005. And, although venture capital represents a mere 0.2% of Gross Domestic Product (GDP) of the United States, venture-funded companies account for nearly 17% of GDP. And the venture capital industry has become heavily invested in clean technology—so much so that as of the end of 2009, the sector was the largest single investment category of venture capitalists. Venture capital remains a source of funding for a narrow slice of businesses, green or otherwise. Venture capital investment into clean technology companies has steadily grown in recent years.
