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VENTURE FIRMS CHIDED OVER CLEAN TECH FUNDING STATE'S POTENTIAL BEING LIMITED, PANELISTS SAY.(Business)(Discussion)
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Seattle Post-Intelligencer (Seattle, WA)
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April 16, 2008
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Copyright informationCOPYRIGHT 2008 Seattle Post-Intelligencer. All rights reserved. Reproduced with the permission of Thomson Scientific by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JOHN COOK P-I reporter
A lack of venture capital funding is damaging the potential for Washington to become a leader in the clean tech industry, according to panelists at the Washington State Technology Summit in Bellevue.
Michael Butler, chief executive of Seattle investment bank Cascadia Capital, was the most blunt.
He said it was "disappointing" that local venture firms don't take more of an interest in clean tech.
"One of the challenges is that we are a software town," Butler said at the Tuesday event. "A lot of the VCs and angels need to be educated. Going from software to materials science is tough."
While a few firms such as OVP Venture ...
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