Venture capital has much to be proud of. In the past fifty years, it has helped build a host of great companies, from Intel and Genentech to Facebook and Google.
UK and US VC performance have been converging - but it's not all plain sailing
It seems that we are finally beginning to grasp the true value of localism: not as an R&D lab for the centre, but as a powerful force in its own right. But this new vision of localism also calls for new types of social finance.
Follow our daily updates on Twitter @nesta_uk
Take part in the discussion on our LinkedIn group
Share your views on our Facebook page
Sign up for our regular updates for the latest news and opportunities.