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Technology Startups Continue to Meet Revenue Targets and Create Jobs, According to Report
For the third year in a row, technology startups met or exceeded their revenue targets according to Startup Outlook 2012 — a new survey from the Silicon Valley Bank. Nearly 64 percent of surveyed startup executives said revenue performance in 2011 was at or above target levels. This will lead to jobs with eight out of 10 companies surveyed intending to hire in 2012.
Respondents also remained optimistic about business conditions with 61 percent reporting better conditions than a year ago, and nearly 72 percent expecting conditions to improve in the coming year. However, respondents prioritized six policy recommendations to help them grow:
- Intellectual property protection;
- Controlling healthcare costs;
- Improving the regulatory environment;
- International trade/market access;
- Implementing healthcare reform; and,
- Immigration reform.
The report was compiled from responses by 270 executives of U.S. based, early stage companies in software, hardware, life science and clean tech sectors nationwide. The report also provides industry specific findings for each of the four sectors.