Venture Investing in Science

Douglas W. Jamison is the chairman and CEO of HALE.life, a privately held precision health and medicine operating company in which Harris & Harris Group is an investor. Previously he was chairman and CEO of Harris & Harris Group, a publicly traded company that makes early-stage venture capital investments in science-based companies. Stephen R. Waite works as a strategic advisor and investment manager. He is the author of Quantum Investing (2003) and coauthor of Boomernomics (1998).

Until reading this book I had not encountered such a cohesive and well-researched account of the current state of deep science commercialization. Every member of society should understand what permits successful technology commercialization to occur and how they might play a part in its success. A great work. -- Braun Kiess, Rutgers Business School Jamison and Waite have written the crucial economic book of the year, addressing the crisis of venture capital in an era without 'deep science'-based innovations and IPOs, and with leviathans buying up their own shares and the shares of their rivals while stinting on the hard science behind all truly transformative progress. -- George Gilder, venture capitalist, cofounder of the Discovery Institute, and author of Knowledge and Power and The Scandal of Money Due to the shifting venture investing landscape and changes in the regulatory environment, deep science R&D-after billions in government investment-is not being commercialized to its full potential. Society needs a balanced approach. Otherwise the economy and quality of life are at risk. This book is a call for change. -- Mihail C. Roco, senior advisor for science and engineering, National Science Foundation This fascinating book should be required reading for all entrepreneurs and investors interested in science- and technology-based startups. -- Andrew W. Lo, MIT Sloan School of Management Venture Investing in Science makes a compelling case that attention needs to be refocused on science-based businesses and a more robust capital market for early-stage companies to increase U.S. economic dynamism. -- Andrew J. Malik, chairman, Needham & Company, LLC Jamison and Waite have been at ground zero of science venture investing for nearly two decades. Economic success in the United States will likely depend on how well the forces they identify are understood, harnessed, and harvested. -- Keith Crandell, cofounder and managing director, ARCH Venture Partners

• Foreword, by Mark Anderson Preface Acknowledgments Introduction 1. Deep Science Disruption 2. The U.S. Deep Science Innovation Ecosystem 3. Deep Science and the Evolution of American Venture Capital 4. Diversity Breakdown in Venture Investing 5. Fostering Diversity in Venture Investing 6. Deep Science Venture Investing 7. Our Choice Ahead Appendix 1: The Case of D-Wave Systems Appendix 2: The Case of Nantero Notes Index