Valley VCs pitch in for software

By siliconindia staff writer   |   Friday, 26 March 2004, 08:00 Hrs
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BANGALORE: There is hope yet for start-ups, but please mind your language. Silicon Valley -based venture capitalists (VCs) believe that software will be the hottest sector for investments during 2004.

As many as 41 per cent of the VCs surveyed placed software at the top of their list. Wireless technology got the second place with 19 per cent of the VCs rooting for this space.

There is much more to this survey. A whopping 86 per cent of the VCs surveyed held that they would be looking more at new companies rather than reviving existing business.

Today, entrepreneurs seeking funding should avoid terms such as “sticky eyeballs” that are loathed by the VC community – an obvious fall-out of the dotcom bust.

These were the results, thrown up by a survey conducted recently by Orrick, Herrington and Sutcliffe (OHS) a US-based law firm, Grant Thorton, a global accounting firm, and Fuding Post, a US-based company that connects entrepreneurs with leading investors worldwide.

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