Venture capital shortage may stunt innovation, [Bendis] says in Cedar Rapids

Young business enterprises need financial investors to help them grow.

But the recession has slashed early-stage angel and venture capital investment in the United States, threatening a generation of innovation and eliminating the chance of creating thousands of jobs.

Richard Bendis, president and chief executive officer of Innovation America in Philadelphia and keynote speaker for the Entrepreneurial Development Center Client Expo on Tuesday in Cedar Rapids, says the situation is dire and needs federal government action.