Green startups can catch some green from California-based venture capitalist
A recent report reveals that Silicon Valley venture capitalist confidence regarding investment prospects is up. This may be good news for entrepreneurs in the San Francisco Bay Area who are considering business formation, but it might be particularly good news for green startup companies in California.One financier, Steve Westly, says he believes that startups in the green sector will boom in the next decade. His California-based investment firm recently gave funds exceeding $127 million to local startup company Lumera – a producer of LED technology.
Westly said he expects many more investors to come into the nationwide green space in 2010. Green technology “is not a bubble and is not going away,” he said. “It has the potential to become one of the largest sectors.”
Some surveys and studies estimate that the green building materials market is expected to reach as high as $500 billion in the next decade. Although it is a somewhat new field, the green sector is already gaining a lot of attention from investors throughout the U.S.
Entrepreneurs interested in these types of companies might want to capitalize on investors’ intrigue by incorporating their businesses and seeking venture capitalist investors.