Tomorrow, UVEF will announce it’s 2009 “Top 25 Under Five” award winners in the company of Utah’s Lt Gov Gary Herbert*, Fusion-io CMO Rick White, and a who’s who of business leaders and VC types. They will honor the great entrepreneurs of our day. This year’s winners produced $80M in 2008 revenue and created 840 jobs. With Utah’s nationally leading business climate, entrepreneurs will likely have far more to do with economic recovery than Washington’s stimulus packages.
In June, Wall Street Journal cited a study revealing that more than half of the 2009 Fortune 500 launched their companies during a recession or bear market. My experience serving on a number of boards for startups, business incubators, and mentoring organizations shows me that recessions push would be entrepreneurs to take the bold step into the unknown. We are the beneficiaries of such risk tolerant, brave leadership.
*soon to be Governor Herbert, once Jon Huntsman is approved as US Ambassador to China by the U.S. SenateShare