Alan Patricof, Greycroft Partners co-founder and managing partner, told FOX Business’ Maria Bartiromo that the strong U.S. economy is a great setting for entrepreneurs.
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“I think I’ve never seen an environment as robust as it’s been in the last few years, starting in 2006 when we started this Greycroft, I’ve never seen the economy,” Patricof said during an interview on “Maria Bartiromo’s Wall Street.” “The environment is so good it's just, the number of incubation centers, the number of startup labs, the number of accelerators, is just overwhelming.”
The Venture capitalist said cities across America are filled with college graduates who used to pursue a degree in investment banking and now have shifted towards establishing entrepreneurial skills that will help them start their own business.
“Young people coming out of college or wanting or being in a business where they’ve seen someone make a lot of money and they’re saying, 'I’ve got an idea and I want to start a company,'” Greycroft said.
Entrepreneurs are choosing to go that route because they prefer not to go into big companies anymore, according to the famed investor.
“And if you match that with the fact that there’s so much capital available it’s been the most phenomenal time to be an entrepreneur and start a company and build a company,” Greycroft said.