Amy Nelson: American entrepreneurship
The venture capitalist and former Venture for America CEO shares what she’s learned about hope, leadership, and hard truths.
Amy Nelson is managing partner at Rethink Partners, a venture capital fund focused on unlocking the full human potential of people who have been historically marginalized or underserved.
Previously, Amy Nelson was CEO at Venture for America, a nonprofit that trained recent graduates and young professionals to work for startups in emerging cities across the United States. Rad more about her work:
Ritika: Let’s start with a big idea.
You mentioned before we hit record that America’s economic potential is strong—but entrepreneurship is in decline.
When did you start noticing this, and how did it become your mission?
Amy: I've always believed one of the most beautiful things about America is its vibrancy and openness to people from all walks of life. What sets us apart is our ability to create opportunity not just for ourselves, but for others through entrepreneurship.
When I joined Venture for America, I thought I was there to help solve the jobs problem in cities like St. Louis, Baltimore, and Detroit. But what I discovered is that the deeper issue is a collapse in entrepreneurship itself.
Since the 2008 recession, we’ve been creating fewer new businesses than we lose each year.
Millennials are on track to be our least entrepreneurial generation. And that’s a crisis.
Ritika: What’s standing in the way?
Amy: There are structural and cultural barriers.
Structurally, debt is crushing. If you ask people why they aren't starting businesses, that’s the number one reason.
Then there’s access to capital and networks. We celebrate tech entrepreneurship, but many of the ventures we really need—advanced manufacturing, clean tech, biotech—have steep upfront costs. If you don’t already have access, it’s almost impossible to break in.
Culturally, we’ve created a generation of excellent hoop jumpers. Kids are trained to follow the syllabus.
But no one tells them it’s okay to take risks or think differently.
Ritika: How did your work at Venture for America address those challenges?
Amy: We invested in people, early.
We helped aspiring entrepreneurs find their footing by embedding them in startups, helping them learn from founders, and building the confidence to launch something of their own.
We also supported them financially. We’ve forgiven student debt for some alumni using donor funds. We explored new funding models. Not every business needs VC.
It’s about alignment. When private enterprise, public institutions, and community partners share values, it creates the kind of conditions where founders can actually thrive.
Ritika: You didn’t start your career with a vision to steer entrepreneurship forward. How did this become your path?
Amy: I was raised by a single mom in a small town outside of St. Louis. I was the first in my family to go to college. In school, I studied philosophy. I thought I’d go into international development or law.
I worked in nonprofits and global development for a while, but I got frustrated. The work was good, but the systems weren’t sustainable. I started to wonder: what if markets could be used as a tool for good?
That’s what led me to business school, and eventually to Venture for America. I joined to lead fundraising. Four years later, I became CEO.
Ritika: In an era of cynicism, how do you stay optimistic?
Amy: Abundance. That’s my mindset. I used to operate from scarcity, especially in the nonprofit world. But I learned that if you believe things can work out—and you keep moving forward, they often do.
I also surround myself with people who are excited about solving real problems. I avoid the 24/7 news cycle. I try to read instead of scroll. I filter out the noise and focus on what I can control.
Ritika: What traits make a great entrepreneur, in your eyes?
Amy: Adaptive excellence. Can you drop into an unfamiliar environment, learn quickly, and start adding value?
Resilience. You have to hear "no" 125 times and still show up the next day.
Optimism. Entrepreneurship is a bet on the future.
And integrity. Your reputation is everything.
Ritika: What advice would you give to someone who wants to start something meaningful?
Amy: Start small. Don’t chase perfection. Run the smallest possible test. Try to make $1,000. See if your idea fills a real need.
And fall in love with the problem, not your first idea. That’s how you stay flexible and build something that lasts.
Portrait illustration by Kat Cao