The Rise of Chinese Venture Capital – (Part 3 of 5)
Steve Blank
APRIL 12, 2013
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.). 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. Like the U.S.
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