Contrary to popular belief,
the venture capital revolution is far from over. In fact, claim authors Paul Gompers and
Josh Lerner, venture capital will continue to dramatically alter the American economic
landscape. In their new book, The Money of Invention, they provide a definitive
analysis of this powerful and unique industry, and offer a meaningful framework for
understanding the relationship between venture capital and entrepreneurial success. The
Money of Invention will be an important book to all managers who wish to capture
value from innovation. The authors offer actionable advice for managers of venture
organizations, for entrepreneurs, and all managers who seek returns from innovation in an
environment that disdains hype and rewards careful, original thought and dogged execution.
Gompers and Lerner place the overheated atmosphere of recent months in context, exploring
the dynamics today's economy within a longer, more compelling narrative of entrepreneurs
and money. In explaining why venture capital is the solution to the problem of financing
entrepreneurial firms, the authors elucidate the structure and functioning of the venture
industry. Readers will understand precisely how venture capital drives innovation,
economic growth, and job creation.
Paul A. Gomper is a
Professor of Business Administration and a Director of Research at Harvard Business
School.
Josh Lerner is a Professor
of Business Administration at Harvard Business School.
Contents
Acknowledgments
1 The Venture Capital
Difference
PART I THE ENTREPRENEUR'S
CHALLENGE
2 The Problem: Financing
Entrepreneurial Firms
3 The Financing Solution:
Venture Capital
4 The Venture Capital
Economy
PART II THE VENTURE
CAPITALIST'S CHALLENGE
5 How Do Venture
Organizations Work?
6 Boom and Bust in the
Venture Industry
PART HI THE EMULATOR'S
CHALLENGE
7 The Corporate
Venturing Experience
8 Designing a Successful
Public Venturing Effort
9 Engineering International
Venture Capital Success
10 Succeeding in the Next
Venture Capital Revolution
Glossary
Notes
Index
About the Authors
282 pages