Thanks for everyone at Chamber of Commerce International Consortium For Entrepreneurs and all the other organizations for making one of the first joint Silicon Valley professional organization collaborative event. Included in this post is a copy of my slides.
In general, the panel of Venture Capitalists were upbeat about the activity surrounding mobile and wireless, but cautioned the entrepreneurs to really think hard about the problems they are trying to solve before approaching institutional investment. While there are certainly a lot of ideas, not all require or would past muster with a professional investor. A “lifestyle” business where one might build a fun iPhone application is great and can certainly make money, but VCs are not interested in a “Hits-based” business, they are looking for very large returns. Mobile is still evolving which provides lots of opportunities for both consumer and enterprise products and services to be created and definitely VCs are actively looking at them to put into their portfolio.
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