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US economy’s edge: entrepreneurs. A new study shows that start-up activity in the US is twice the average of Western nations.
Sometimes it takes a young enterprise to tackle an old problem. For Kiva Systems, based near Boston’s Route 128 beltway, the problem is how to pull goods off a warehouse floor quickly and orderly.
The fledgling firm makes robots that fetch items – an approach that multiplies productivity for many order-filling operations. Kiva hasn’t turned its robots into riches just yet, but the company is rolling forward thanks to venture capitalists who have provided $18 million in seed money – including a big chunk just 12 weeks ago.
From Boston to Silicon Valley and in smaller places in between, one of the economy’s vital rivers of growth – venture capital – is flowing abundantly. The rush of start-ups is creating valuable jobs today, and it represents an enduring strength of the American economy in the long run.
By Mark Trumbull | Staff writer of The Christian Science Monitor
Full Story: http://www.csmonitor.com/2006/0816/p02s01-usec.html
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