Start-ups are now the predominant source of innovation in all categories of food technology. Venture capital can accelerate innovation by enabling start-ups to pursue niche areas, iterate more rapidly and take more risks than larger companies, writes Samir Kaul.
Unfortunately, I was wrong. In the late 2000s, the cleantech bubble burst, and billions of dollars in venture capital financing and government loan guarantees for sustainable energy projects dried up. I was disappointed, dejected and, quite frankly, depressed. Despite their professed concerns over the environment, investors weren’t willing to wait for returns, and consumers weren’t willing to pay more for energy. If we couldn’t assemble the financial will to address climate change in Silicon Valley, where could we?