I’ve got news for Wade Roush of Xconomy – the Barron Building in Central Square better not be the new Boston “startup hub.” Because otherwise, we are all going to die.
See the following tweet stream captured in my Tweetdeck account, from 9:42 to 9:51 pm tonight:
On the plus side, there is AT&T reception in the elevator. Maybe the only place in Boston where you can get 3 iphones all online at the same time!
One of the co-founders of my company recently posted his thoughts after attending the Startup Lessons Learned conference, from the perspective of a startup product manager. It’s worth a read!
My occasional co-blogger Prasad Thammineni was recently featured on Amex’s OPEN Forum.com, sharing four intuitive ways that he promotes innovation around the OfficeDrop office. (OPEN Forum is a pretty interesting strategy by American Express to offer their small business card owners a place to share best practices on running their companies.)
Prasad lists a few of the things we try to do at OfficeDrop to be more innovative… As with the OfficeDrop name change process, Prasad makes sure to employ all of the clever minds around the office, not just the over paid ones like mine…
The Wall Street Journal just published a piece on the changes in composition of the investors who invest in VC funds. In 2009 venture capitalists got money from all the traditional sources (endowments, pension funds, insurance/financial investors, fund of funds, etc.) However, in 2009 there was a major change – “Endowments and foundations saw their share of the overall venture capital pool fall to 3.2% in 2009 from 13.1% in 2008,” according to the report.
Obviously we all read about how stressed for cash schools and other foundations were last year, which probably caused most of this drop.
Endowments and foundations are the limited partners (investors in funds) that VCs like to brag about. “Yeah, Harvard and Yale are invested in our fund.” These LP’s are not only high profile, but are usually also considered the most sophisticated investors. If these groups don’t come back from the dead in the next couple of years and recommit to the venture asset class, will the industry be forced to dramatically shrink? (The venture industry size isn’t something I have time to blog about right now, sorry!)
Good news for the New England early stage startup community – venture capital investing rebounded from last year’s lows. $789 million in VC was invested in New England in Q1 2010 vs. only $408 million in Q1 2009. This is a significant pop, and gets us closer to the 2008 and 2007 totals of $872 and $984 million. I’ve pasted in a couple of charts from data I took from the spreadsheets posted on peHUB.
Overall, peHUB says:
Venture capitalists invested $4.7 billion into 681 U.S. companies during the first quarter of 2010, according to MoneyTree data released today by PricewaterhouseCoopers, the National Venture Capital Association and Thomson Reuters (publisher of peHUB). This represents a decrease in both deals and dollars from the preceding quarter — by 18% and 9%, respectively — but an increase over the first quarter of 2009.