We're inspired: direct flights boost innovation
Have you ever wondered what happens after a Shark Tank episode? Once Mark Cuban flashes that famous smile and agrees to back the next great invention, he'll be spending the rest of his time on the road making sure his investment is a success story. (Translation: lots of flying).
That being said, it's no surprise that the recent boost in new direct flights routes between venture capitalists and their portfolio companies has boosted overall innovation and profitability.
According to a very thorough piece of research titled The Impact of Venture Capital Monitoring, decreased travel time has driven a 3.1% increase in patent production and a 5.8% hike in the number of citations received by portfolio companies. The study suggested that venture capitalists identify with companies whose success and innovation they can contribute to- not necessarily those already poised for success. Even in a world of sharks, financial investment is no match for personal investment, because face-to-face time matters.
What direct flight makes business (or personal) interactions more convenient for you? Do you have a success story because of it? Let's continue the conversation in the comments section below.