The New England Venture Capital Association (NEVCA) is a
trade association
A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific Industry (economics), industry. An industry tra ...
with the mission to make
New England
New England is a region comprising six states in the Northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. It is bordered by the state of New York to the west and by the Canadian provinces ...
the best place in the world to start and grow new companies. The NEVCA represents the interests of
venture capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...
investors by promoting
entrepreneurship
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values th ...
. As of 2014, the association represented members from over 90 firms and had an annual budget of $1 million.
History
NEVCA was founded in 1902 as a loose association of the regional investment bodies. At that time, the organization had no full-time staff and served primarily as a communications channel between investors. Since its foundation, NEVCA has grown into a much larger regional body that represents hundreds of partner firms who manage thousands of companies, with tens of billions of dollars in capital.
The NEVCA produces the NEVY Awards, a celebration of excellence on both sides of the investor / startup equation.
In 2018 NEVCA advocated for
non-compete
In contract law, a non-compete clause (often NCC), restrictive covenant, or covenant not to compete (CNC), is a clause under which one party (usually an employee) agrees not to enter into or start a similar profession or trade in competition agains ...
reform in a Massachusetts Economic Development bill, specifically to reduce non-compete maximum duration to 6 months and to require 100%
garden leave
Garden leave (also known as gardening leave) is the practice whereby an employee leaving a job – having resigned or otherwise had their employment terminated – is instructed to stay away from work during the notice period, while still remainin ...
for employers.
References
External links
New England Venture Capital Association website
{{private equity and venture capital
Venture capital