Fact is, there's more funding than ever, but there's no shortage of would-be takers. Tens of thousands of companies are unable to arrange any financing. No, says John Martinson, chair of the National Venture Capital Association, the industry trade group. In today's market, that usually means technology companies. But Dee Powers thinks there's more money available now for nontech firms.
Entrepreneurs still have to look harder for nontech capital, but it's there.
To find it, Powers recommends checking the library for Pratt's Guide to Venture Capital. Or try VC directories, then call firms directly and ask for their requirements. While your best path to capital is a referral from your accountant or attorney, another option is searching the Internet. A Lycos Web search found 30 VCs seeking queries from nontech businesses. Of course, that's a generalization.