Government wouldn't be a good choice to vet people. However if they did wouldn't it top setting $50 million on fire? I think its best if entrepreneurs do it.

Government wouldn't be a good choice to vet people. However if they did wouldn't it top setting $50 million on fire? I think its best if entrepreneurs do it. I've noticed that most of the successful VC's are entrepreneurs with at least one successful exit. In Michigan it is a mixture of government, non-profits and entrepreneurs who decide who gets funded. That's primarily because it's government money funding it. In Lansing a non-profit provides business classes and applicants complete a business plan.