There is generally little difference in the funding pattern across industries or regions of the country. There are, however, a few interesting exceptions to this pattern.
Strategic partners are important to electronics, machinery, and chemical firms.
Commercial banks played a significant role with machinery, aerospace, other manufacturing, and finance companies. In none of these cases, however, were these alternate sources more important than cash flow and founder's savings. Commercial banks were more important funding sources for older companies. With venture capital more readily available than it was a few years ago, firms started today are more likely to use venture capital and less likely to use commercial banks for initial funding. Cambridge Savings Bank played an interesting role in the start-up of Teradyne.