Executives confident about Boston jobs
Posted on June 19, 2011
A new survey shows just how confident executives are about the growth of Boston jobs.
-Polachi Inc., a provider of Access Executive Search services to technology, clean technology, private equity and venture capital companies, today issued the results of its third annual VC survey, which polled venture capital executives throughout the United States. The survey revealed that 77% of venture capital executives more than 80% of which are Partners or Managing Partners – are more confident and optimistic about the industry today compared to a year ago despite recent reports that the economy is in a slow down.
Boston jobs continue to climb, as do other metropolitan areas.
In fact, the survey revealed that 93% of VC executives said there are plans to hire at their portfolio companies in 2011 and 54% said that they are very optimistic about exit markets.
The survey found executives to be slightly more bullish on the West Coast/Silicon Valley when it comes to which geographical region currently represents the area of hottest investment opportunities, as 49% indicated the West Coast and 38% indicated the East Coast. The Boston and New York markets continue to gain speed with the survey indicating a spike in VC activity.
When asked about the hottest growth areas in the VC industry, once again the Consumer Internet/Web 2.0 received the highest response (74%) followed by Internet Marketing (39%) and Enterprise software and Infrastructure (14%). Interestingly, only 12% of respondents rated Cleantech/Energy as a hot growth area.
Our survey reveals that there is a lot of optimism in the marketplace when it comes to deal flow and hiring at portfolio companies, said Charley Polachi, Partner at Polachi, Inc. This is great news as small businesses and early stage companies are vital to job creation and economic growth.