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August 13th, 2009
Howard Lovy: When it comes to game-changing, innovative technologies, the old venture capital model doesn't work. You don't throw a bunch of money at once at a company and then watch it succeed even in five years.
To really measure how successful an investment is in, say, nanotechnology-enabled fuel cells, you really do need to look at it over a decade or even two.
Yet that is what the Obama stimulus plan and Granholm's battery plan are all about -- tossing a lot of money at once and expecting everything to stick.
Meanwhile, fortunately, true innovators are still tinkering away, with or without government tax incentives and financing.
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