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Article: Early-stage capital tight for entrepreneurs with ideas
- Article from:
- Central Penn Business Journal
- Article date:
- July 24, 2009
- Author:
CopyrightCopyright Journal Publications Inc. Jul 24, 2009. Provided by ProQuest LLC. (Hide copyright information)
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REGION
Recessions often give rise to great business ideas, but many entrepreneurs are struggling to find investors who can help get those ideas off the ground.
At the Centre County-based seedcapital fund known as Ben Franklin Technology Partners, funding inquiries have doubled from ayear ago, said Pam Martin, director for the southcentral region.
"There's a lot more people in our pipeline, which means it's making competition for our limited funds even more competitive," she said.
The line outside Martin's door is growing because of tighter financing from banks and private early-stage investors, but also because many people try to start businesses when they lose their jobs, she said.
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