The US venture-capital industry is envied throughout the world as an engine of economic growth. Although the collective imagination romanticises the industry, it can be a brutal and lonely place.

If we are serious about growing the economy through supporting new businesses, and not just mom-and-pop-type small and micro businesses, we have to start seeing growth in start-ups, and more venture-capital money backing more investable ideas the same way it is done in the US...

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