article thumbnail

The Rise of Chinese Venture Capital – (Part 3 of 5)

Steve Blank

By 1991, 70% of the Torch funded startups were getting bank financing for expansion and later stages of the new ventures, with local governments acting as guarantors. SBIR and STTR programs, the Torch Program’s funding for new ventures was limited to seed funding the front end. It went bankrupt in 1997.). Like the U.S.

article thumbnail

The Rise of Chinese Venture Capital – (Part 3 of 5)

Steve Blank

By 1991, 70% of the Torch funded startups were getting bank financing for expansion and later stages of the new ventures, with local governments acting as guarantors. SBIR and STTR programs, the Torch Program’s funding for new ventures was limited to seed funding the front end. It went bankrupt in 1997.). Like the U.S.

article thumbnail

Entrepreneurs are Everywhere Show No. 26: Javier Saade and Hillary Hartley

Steve Blank

government is discovering that Lean innovation can help them serve the country better and faster. The Small Business Administration and the digital services agency 18F are trying to help entrepreneurs build successful companies and the 21st century digital government. Did you encounter organizational inertia?