This week's news about the suspension of operations and impending bankruptcy of Solyndra, a venture-backed solar film company that received sizable loan guarantees from the federal government, came as little surprise to the NVCA, but not because we had any advance knowledge of Solyndra's plans.  Rather, we have been anticipating failures -- and sizable ones at that -- in the clean technology space for some time.  Venture capital investment is predicated on failure because of the high risk nature of the companies in which we invest.  This reality is even more prevalent in emerging, disruptive technologies such as clean tech.  We should expect more failures in the months and years ahead as we test innovative technologies and business models.  But, more importantly, we should also expect significant successes.

Venture capitalists and entrepreneurs are known for learning from their mistakes; they thrive on it, in fact.  Recent coverage of Steve Jobs' career and his failures along the way speak to this phenomenon directly, but it applies to every single start-up company ever funded.  In wake of Solyndra, it is critical that the federal government take this reality to heart and continue to support clean technology through loan guarantees and R&D funding. If the venture capital industry jumped ship at the first sign of failure in other sectors, we would be living today in the dark ages technologically, socially, economically.  

There is much innovation and much success in our future in the clean tech space, with countless companies and technologies being tested in the market.  Every new clean tech company equates to new jobs and new opportunities to reduce our reliance on foreign oil and save our planet.  Venture capital investment has never been for the weak of heart - and, after this week's news, we expect clean tech investors to continue their down their current paths without pause. The United States needs to grow our economy, foster innovation, and remain competitive with foreign countries. To do so our government must also move decidedly forward in support of the clean technology industry.