Research Paper on:
Venture Capitalism and Biotechnology

Unformatted Sample Text from the Research Paper:
technology stock and dot-com. Even though many of these companies clearly had no business plan and would not make profits for years, VC experts stood in line very simply for  the privilege of financing the IPOs and other factors for such firms. These VCs were hailed as supporters of the "new economy," the economy that could discard profits and losses  as indicators of how well a company would do and substitute dreams and assumptions. While everyone was touting the new economy and  VCs lined up to finance it, old economics kicked in. When companies failed to turn a profit (or even to show any cash on their balance sheets) the hard reality  was that there was no money to run the operations. One by one, the tech companies and dot-coms were acquired or went bankrupt. Along with those companies went the investments  of the VCs that were so eager to participate in the new economy. These days, VCs are being a lot more cautious  with their resources. There is, however, one industry that is loosening the purse stings of the VCs. This is the arena of biotechnology - also known as "life sciences." From  the time during the 1980s during which biotech company Genentech first hit the stock market and gained incredible value during a weeks, support of biotechnology has been stronger than support  of technology. While there are only a certain number of people that can or want to purchase high-tech products or support high-tech gizmos, almost everyone is interested in use of  gene therapy and drugs to wipe out cancer and other diseases. Even during a period in which VCs are more cautious about investing, the biotech industry seems to provide a