Before we can begin to judge the success of Massachusetts’ venture programs, we need to determine their aim and gauge whether it’s worthwhile in the first place. The Commonwealth is in a somewhat unusual position, in that the state is already home to one of the largest concentrations of venture dollars and entrepreneurial activity in the world. So unlike many forays by governments into venture capital where the goal is jump-starting some modicum of startup activity, Massachusetts needs to justify its activity with reference to specific gaps in the state’s innovation ecosystem.
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