Silicon Valley Bank recently published “Startup Outlook 2011” with results from 375 interviews of private and VC backed hardware, software and clean-tech companies. Across the board the startup companies are reporting better results than in the past with increases in expected hiring, economic perception, profitability and overall growth.
A few of the key findings from the report:
- 83% of Startups interviewed plan to hire in 2011, up from 73% in 2010.
- Nearly one in four companies (23%) exceeded their 2010 revenue targets up significantly from 2009 (15%)
- Two in three executives say the business conditions in 2010 are better than they were in 2009, and three in four expect they will get even better in the next 12 months.
- More than 8 in 10 life science companies say that the government could help their company’s growth by improving the FDA approval process.
The report goes into detail on a number of factors impacting the performance of start-up companies by each of the four sectors targeted in the survey; life sciences, hardware, software and clean-tech.