December 20, 2012 by MassDevice staff
Venture capitalists and CEOs are reserving their optimism for specific economic sectors next year, and the medical device industry isn't 1 of them.
A survey of more than 600 venture capitalists and CEOs reveals limited optimism about the coming year, with business IT and healthcare expected to win increased backing at the expense of the medical device industry.
The survey, conducted by the National Venture Capital Assn. and Dow Jones VentureSource, showed that 53% of respondents expect lower VC investment in medical device startups. Forty-; 49% predicted the medtech space will be underfunded.
"While anecdotally we have been hearing about 'light at the end of the tunnel' from venture capitalists and CEOs alike, this year's survey reminds us that we are not out of the woods yet," NVCA president Mark Heesen said in prepared remarks. "Ongoing uncertainty surrounding the fiscal cliff clearly impacted respondents' outlooks for the coming year. The influence the federal government has over the growth or stagnation of our industry has never been greater. Lawmakers need to understand that their brinkmanship politics is hurting the entrepreneurial ecosystem, which has been grasping for positive news for the last four years. The potential for growth is palpable, with positive forecasts for startup jobs, technology innovation, and global activity. But to realize this promise we must get on the right track in Washington, and quickly."
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Source: http://www.massdevice.com/news/venture-capital-vcs-ceos-temper-optimism-about-2013
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