After a long winter, VC funding is beginning to bloom again.
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After three years of relative drought, the "MoneyTree" is growing again. A total of 608 startup and early stage companies got their first round of venture capital in 2004, according to a special analysis of the "MoneyTree Survey" prepared for Entrepreneur by PricewaterhouseCoopers, Thomson Venture Economics and the National Venture Capital Association. Together, those early stage companies received $2.68 billion in funding. Both figures are up notably from 2003--the first increases in three years. On average, startup companies received $2.1 million each, while early stage companies averaged $5 million each.
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