Start a State Venture Capital Fund
Herb Kelleher
Chanh Phung says: Are you suggesting another fund, in addition to the $200M Texas ETF created in 2005 under HB 1765 ? Or to extend the ETF to $1B ? Entrepreneurs are better off with another private fund as the ETF has two limiting factors: 1. The ETF only considers start-up with tie to higher education institutions. 2. The ETF process is long. (May 28th, 2009 at 11:30pm)
The diversification of Texas’s economy since the bloodbath of the eighties is the reason we have been relatively staunch amid the current recessionary environment. Big business has been fleeing “business hostile” states to move to “business friendly” Texas. Don’t change our business-friendly climate—keep ’em coming! One source of diversification where we appear to be somewhat lacking, however, is in the availability of venture capital for start-ups. Consequently, I suggest the creation of a state $1 billion venture capital fund to assist worthy entrepreneurs in creating promising Texas ventures, with grants limited in both annual number and individual amount.
Kelleher is the founder and chairman emeritus of Southwest Airlines. He lives in San Antonio.
All 54 ideas from the magazine »
And 28 more you’ll find only on the web »
My Library
