Chapter 15 The Answer to Decreasing the Startup Failure Rate: Human Capital
Nikki Blacksmith
Blackhawke Behavior Science, American University, 1709 21st St NW #52, Washington, DC 20009, 630-888-8150.
Email: nikkiblacksmith@gmail.com
Entrepreneurship is the backbone of many economies; driving the progress of civilization, addressing the world’s most pressing problems, and creating new jobs (Drucker 1983). In the United States, successful entrepreneurship is largely dependent on venture-backed startups, not large corporations (Kaplan and Lerner 2010, 2016). In 2021, over 600 billion dollars were invested in startups in the United States and global VC-backed exits were over $1 Trillion (KPMG 2022). However, up to 90% of startups fail, rendering ...
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