Conferences

Here's a list of conferences/panel discussions cloncluded recently with links to watch the videoarchieve:

1. O'Reilly ETech2009
2. Demo 2009
3. TIE Silicon Valley speakers -- The videos have very poor sound qualty - I hope they'll do a better job in recording future events!
4. A conversation with Eric Schmidt, CEO of Google

Just finished my internship

Jeez, time flies :) May 2008 feels like yesterday, the month I started my internship at Intel Capital in the Software and Solutions Group; and yesterday it was my last day of internship. The experience was wonderful to say the least. It wasn't less than drinking water from a firehose. The team at Intel Capital is fantastic - I am privileged to work with and learn from the people who have been investing in companies of all stages for the last 15 years. They have seen the evolution of the VC industry as it passed through ups and downs Vis-a-vis the transformation of Intel Capital (from just a strategic investor to a full-fledged VC powerhouse). Which other VC firm can make more than 150 deals in an year and a single investment of $1B!

I worked on two of the most active and dynamic sectors in the software industry - Software as a Service (SaaS) and Software for Mobile Internet Devices. It was a great sojourn - wonderful learning opportunity intracting with people with diverse perspective and background - VCs, Business Unit heads, CEOs, investment bankers, research analysts, and consultants such as Jeff Kaplan from THINK IT Services - who have been envisioning and riding the SaaS Wave as it proliferates from just a new point based, low TCO solution for SMBs in early 2000 to challenging the incumbents in the Enterprise Software space at their own turf.

On the mobile side, the market is changing at a rapid pace. The convergence of smart phones and laptops is creating a new space for Mobile Internet Devices, providing greater mobility and Internet browsing capability to the millions of people across the globe. Several new business models and technological changes are accelerating the pace of innovation - open mobile development platforms(the likes of Moblin, Android, Symbian, etc), Open Source, WiMax & 3G deployments, new processors & platforms (Centrino Atom), dedicated VC funds for mobile investments (iPhone Fund, Blackberry Partners fund, etc.), and the successful launch of iPhone 3G and AppStore, to say the least.

So, as I look back at my experiences this summer, I will share my PERSONAL learning and opinion on the Mobile and SaaS sectors. You'll also see more coverage of the happenings in the Mobile and especially the SaaS sectors in my blog from now onwards.

Valuing a web based company

Some interesting reads:

Web 2.0: Valuation of Web Sites 101

Website Value 101 - How to Appraise a Website

The Churchill Club: The Top 10 Tech Trends

Here's a list of the top 10 tech trends selected by the elite panelists which includes:
Steve Jurvetson, Draper Fisher Jurvetson.
Vinod Khosla, Khosla Ventures.
Josh Kopelman, First Round Capital.
Roger McNamee, Elevation Partners.
Joe Schoendorf, Accel Partners.
Tony Perkins, of Always On, is the moderator.

Click here to read the full discussion.

Summer@Highland 2008

Awesome opportunity for student entrepreners who would like to work over the summer on some of theie ideas!

Summer@Highland 2008

Are you a student (graduate, undergraduate or even recent grad) with a business you’d like to rapidly accelerate this summer? If so, the Summer@Highland 2008 program may be just what you need!



Following the success of last year’s inaugural Summer@Highland, we are again offering stipends, office space, and experienced advisors to a small number of students with ambitious aspirations for building their businesses.



What we’re looking for



We are especially interested in having you spend the summer with us if:

• You’ve a leadership team with vision, passion, and drive

• Your business has the potential to be highly-disruptive in its area

• Your business initiative is showing momentum. While you may, or may not, have incorporated, you’ve more than a vague concept in mind

• You have real depth of expertise in your technology/market of interest

• You can direct us to some advisors who see your business’s potential as you do



Particulars of Summer@Highland 2008



1. The program is open to current graduate and undergraduate students, as well as recent (December 2007 or later) grads. At least one member of the team must meet this criterion.

2. Teams can comprise 1 to 4 persons.

3. A single person team will receive a $7,500 stipend for the summer.

4. A multi-person team will receive a $15,000 stipend.

5. Teams will reside in office space in Highland’s Lexington, MA or Menlo Park, CA offices (or, an exception basis, in our Geneva or Shanghai offices).

6. Teams are required to work full time for 10 weeks. Start and end dates are flexible and to span the period of June through September 2008. Teams are expected to share our office space with us during this full term

7. Each team will have a Highland sponsor who will be the team’s gateway to advice and counsel from Highland’s investors and industry network.

8. In consideration of these benefits, but not to overly constrain the teams, we ask that if a team goes on to raise venture capital within 180 days from the end of the program, then Highland be provided the option to co-invest in up to 50% of the total financing round.

Kleiner Perkins Caufield & Byers launches a $100M iFund

Click here to read the info directly at KPCB website

iFund

KPCB’s iFund is a $100M investment initiative that will fund market-changing ideas and products that extend the revolutionary new iPhone and iPod touch platform. The iFund is agnostic to size and stage of investment and will invest in companies building applications, services and components. Focus areas include location based services, social networking, mCommerce (including advertising and payments), communication, and entertainment. The iFund will back innovators pursuing transformative, high-impact ideas with an eye towards building independent durable companies atop the iPhone / iPod touch platform.

"A revolutionary new platform is a rare and prized opportunity for entrepreneurs, and that's exactly what Apple has created with iPhone and iPod touch," said John Doerr, Partner at Kleiner Perkins Caufield & Byers. "We think several significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential."

"Developers are already bursting with ideas for the iPhone and iPod touch, and now they have the chance to turn those ideas into great companies with the help of world-class venture capitalists," said Steve Jobs, Apple's CEO. "We can't wait to start working with Kleiner Perkins and the companies they fund through this new initiative."

The iFund will be managed by KPCB Partner Matt Murphy in collaboration with partners Chi-Hua Chien, John Doerr, Bill Joy, Randy Komisar, Ellen Pao and Ted Schlein. Apple will provide KPCB with market insight and support.

Cleantech Group Comes To India; Vinod Khosla, Chair, Jaswinder Kaur, Country Director - sas VC Circle

VC Circle says:

The Cleantech Group, which is a network of investors and companies in the cleantech industry, has set up shop in India. So far it had only presence in North America, China and Europe. Leading venture capitalist Vinod Khosla will serve as Chair and Jaswinder Kaur, executive director of the Indian Venture Capital Association (IVCA) in Delhi, will be the Country Director of the Indian arm of the group.

Cleantech Group was earlier known as Cleantech Venture Network, which “defined and introduced cleantech as an investment category in 2002. It has some 8,000 cleantech investors, 9,500 companies and professional services organisations worldwide and a core group of 1,300 members with assets exceeding $6 trillion. They include venture capital firms, investment banks, limited partners, governments and major corporations via offices in North America, Europe, China and India. Read the full articl at VC Circle Cleantech Group Comes To India; Vinod Khosla, Chair, Jaswinder Kaur, Country Director

US PE biggies raising more money to invest in Asia!

VC Circle says:

It seems US sub-prime crisis is turning out to be a boon rather than a bane for fundamentally stronger markets in Asia. A host of private equity biggies - like Carlyle and JPMorgan - are now training their investment flows towards high growth markets in Asia - like China and India. According to a Bloomberg report, Carlyle Group, the world’s second-biggest private-equity firm, plans to raise as much as $4 billion to invest in Asian companies. Click to read the full article at VC Cicrle US Private Equity Biggies To Raise More Money For Investing In Asia

$300M India Rizing Fund for investments in Defence Sector

Here's th direct link to the article on Business Standard : Venture fund for defence firms

The $100-million fund, which has the option to raise a further $200 million, will benefit small and medium enterprises engaged in defence production

A first of its kind venture fund for small and medium enterprises (SMEs) engaged in defence production, proposed by Mumbai-based India Rizing Fund, is awaiting final clearance from the Foreign Investment Promotion Board (FIPB).

The Fund proposes to invest $100 million in Indian defence SME's.

The proposal has received the go-ahead of the Department of Industrial Policy and Promotion, the Department of Economic Affairs and the Ministry of Home Affairs. However, since the Department of Defence had not given its clearance till February 8, the FIPB deferred the proposal for consideration at a later date.

The Fund, which is promoted by former India head of ANZ Investment Bank Rajesh Narayan, has an option to raise another $ 200 million. It has a 10-year duration, with an option to increase it by four more years. More such funds may be created in the future for investment into the Indian defence production sector.

Advisors to India Rizing Fund include Rana Kapoor, founder and managing director of Yes Bank, Rahul Chowdhary, CEO, Tata Strategic Electronics, Lt Gen V J Sundaram, leader flight vehicle design team of Prithvi missile and former RBI deputy governor Vepa Kamesam.

The proposed scheme will offer two categories of units of par value of Rs 10 lakh each to investors and Rs 100 each for promoters and management of the company. Funds from the scheme will be invested in niche areas of defence production which include tanks, aircraft and war gaming simulators, as well as radars, military aircraft, missile launch systems and howitzer guns.

According to industry estimates, there are 5,000-6,000 SMEs registered with a Defence Ministry arm contributing extensively to projects like the Light Combat Aircraft and Arjun Main battle tank.

Experts point out that with India planning to acquire multi role combat aircraft (MRCA), SMEs can benefit from the offset obligation of such a defence deal, under which, the selected aircraft manufacturer has to source 50 per cent of the components from India.

“We expect the offset obligation to be around $5 billion and this is the chance for Indian defence related SMEs to reach out globally,” said Surjith Haridas, director, defence division, CII.

Experts also said that Indian defence SMEs will also benefit from a government target of sourcing 70 per cent of defence requirements from indigenous sources by 2010.

A recent Assocham-Ernst and Young report had put the total size of the defence market in India for private sector at $700 million, which is expected to have a growth potential of 20 per cent by 2010. The study found that more than 5,000 companies are supplying around 20 per cent to 25 per cent of components and sub-assemblies to state-owned defence production companies.

Interview with BlueRun Ventues

VC Circle has posted an interview excerps of Sasha Mirchandani (senior investment director, based in Mumbai; he is also one of the founding members of Mumbai Angels) and Vineet Buch (Principal, and a co-founder of Riya, a visual search firm funded by BlueRun) from BlueRun Ventures. I had met Vineet during the Silicon Valley trip at the Plug and Play Tech center in San Jose; he is a great person. Here's the direct link to the full excerpts at VC Circle.

Best way to start a career in VC -- from Linked in answers

What is the best way to start a career in venture capital?

Answer:

Considering that the average income for the some 1,800 VCs in the USA is about $1.5 million, I am probably asked this at every one of my workshops, seminars, speaking engagements etc.

1. Graduate from Harvard Business school or Stanford Business School at the highest of the class--top five, #6 and below will get you nothing. Then get a fellowship through Kauffman to work at a leading VC firm as an "associate" for two years. (making $65,000 per year)

2. Win the lottery. Then just start a VC firm! OK, Marry someone very, very rich. Then just start a VC firm.

3. Invent something that tops: ICQ (Instant messenger) and sell it to AOL for $400 million. Start something that tops Skype and sell it for $2 billion. Start something that tops PayPal and sell it for $500 million. (Wow, I don't think ebay will be buying anything new for a while) Then, every major VC firm in the world will want you to be on their "Entrepreneur in Residence" program.

4. Finally, become the Vice President of the United States. Then hang out with Bono (or some other rock star). Then win the Nobel prize for telling everyone the sky is falling. Or shoot, just tell everyone you are a venture capitalist!!!

Here's the direct link

Resoures for creating powerful business plans

1. Simplymap

SimplyMap is a web-based mapping application that lets users quickly create professional-quality thematic maps and reports using powerful demographic, business, and marketing data. SimplyMap turns complex data into valuable information that is easily accessed through an innovative and user-friendly interface.

With SimplyMap, users can:
Access thousands of demographic, business, and marketing data variables.
Develop interactive thematic maps and export high-resolution images to word processing or presentation software.
Select, sort, and compare data across multiple locations and build custom reports that can be exported to a spreadsheet for additional functionality.
Explore historical census data to understand how regions change over time and use estimates and projections to analyze current and future trends.
Make informed personal and business-related decisions. Questions like “what are the social and demographic characteristics of my neighborhood?” and “where should I locate my retail store?” are quickly answered with SimplyMap.
Combine locations and search for areas based on specific criteria


2. US Census Bureau
Provide extenive data on US census

People & Households:
Estimates · Projections · Housing · Income | State Median Income · Poverty · Health Insurance · International · Genealogy · More

Business & Industry:
Economic Census · Get Help with Your Form · Economic Indicators · NAICS · Survey of Business Owners · Government · E-Stats · Foreign Trade | Export Codes · Local Employment Dynamics · More

Geography:
Maps · TIGER · Gazetteer · More

3. Forrester Research

Forrester Research, Inc. (Nasdaq: FORR) is an independent technology and market research company that provides pragmatic and forward-thinking advice to global leaders in business and technology. For more than 24 years, Forrester has been making leaders successful every day through its proprietary research, consulting, events, and peer-to-peer executive programs.

They have extensive data on social networking trends and usage.

Startup pricing model

Dhrmesh Shah makes an intersting point about the pricing models:

Don’t confuse marketing models with business models. The former helps you get visibility for your product, the latter defines how you will actually make money. Too many startups try to pass off marketing models as business models. Also, make sure you think through what your customers likely want (you know, customers, those people that give you cash).

Read the full article here

Interesting read- VC phrases

1. favorite VC phrases

2 The Art of Saying “No”

VC investments rise to six-year high (29.4B in 2007) - Associated Press

Venture capital investments in U.S. startups climbed to a six-year high of $29.4 billion in 2007, raising hope that ample money will still be available to back promising new ideas even if the staggering economy falls into a recession.

The amount of venture capital spread across 3,813 deals represents the industry's busiest year since $40.6 billion went into nearly 4,500 U.S. startups in 2001, according to data scheduled for release Saturday by Thomson Financial, PricewaterhouseCoopers and the National Venture Capital Association.

The $29.4 billion invested last year marked an 11 percent increase from $26.6 billion in 2006.

In 2001, venture capitalists were actually curtailing their investments after the dot-com economy pushed the U.S. economy into its last recession.

Although many experts believe another recession is imminent, venture capitalists say there is little reason to believe their investment pace will slacken this year.

In a show of confidence, venture capitalists raised $34.7 billion for future investments during 2007, a 9 percent increase from the previous year.

The industry's optimism stems from a belief that many of today's hottest concepts either are recession-resistant or are developing moneysaving products that may have even more appeal during an economic downturn.

The investment areas spurring the optimistic outlook include: health care and biotech; the Internet; and technology aimed at developing alternative energy, reducing pollution and promoting conservation.

Combined, these sectors attracted nearly $16 billion in venture capital investments last year, accounting more than half of the total activity.

While focusing on specialties less susceptible to economic downturns, venture capitalists have been increasing their investments more gradually in recent years. During the dot-com boom, high-tech financiers had routinely entrusted millions of dollars with young Internet entrepreneurs who had never before run profitable businesses.

The newer, more disciplined approach makes it less likely there will be a dramatic about-face like the one that occurred after venture capitalists invested nearly $160 billion in 1999 and 2000. After that flurry, venture capital investments fell for the next three years before bottoming out at $19.7 billion in 2003.

"There is nothing to suggest we will fall off a cliff" this year, said P. Sherrill Neff, founding partner of Quaker BioVentures in Philadelphia.

Quaker BioVentures focuses on startups involved in pharmaceuticals, biotechnology and medical devices — categories that Neff expects to remain in strong demand even in a feeble economy because people won't stop getting sick or growing older.

Other venture capitalists seem to share his opinion, helping to produce a record year for investments in "life sciences," which includes biotech and medical devices. Venture capitalists invested $9.11 billion in 862 life sciences deals last year, a 21 percent increase from $7.56 billion in 2006.

Internet startups also appear better positioned to weather any economic turbulence because the advertisers that generate most online profits appear likely to keep shifting their spending from television, print and radio to the Web even if there is a recession.

Venture capitalists invested $4.6 billion in Internet deals last year, a 12 percent increase from $4.1 billion in 2006.

Venture capital investments in so-called "clean technology" focused on alternative energy and reducing pollution from fossil fuels totaled $2.2 billion, a 47 percent increase from $1.5 billion in 2006.

Although they are expected to continue to ramp up their investment this year, venture capitalists may have more trouble cashing out. That's because the sluggish economy could hinder initial public offerings of stock; last year 86 venture-backed startups made their market debuts, the most since 2004.

"We are very concerned about the public markets shutting down, but it is to be expected in times of unpleasantness," said Deepak Kamra, general partner with Canaan Partners in Menlo Park.

Original link here

An Interview with VC Pioneer Thomas J. Perkins

Is Kleiner Perkins not funding Web 2.0 companies anymore? There was some discussion of that in the blogosphere recently, with valuations for Facebook and other Web 2.0 companies getting really, really high.
I’m not aware of that. A lot has been done but we haven’t made it an official policy. I love bubbles. We made a lot of money in bubbles.

Every time Google passes one of the century marks, 100 to 200 to 300, everybody said, “My god.” If you bought Google on the offering you would have made about 10 to 1. Is the market always right? No. Is it always wrong? No. You don’t get rich by betting against the market.

Is there too much venture capital floating around?
There’s always been too much money in venture capital. It doesn’t mean you can’t make too much money in venture capital.

What’s the worst investment you ever made?

Click here to read the full interview at CreativeCapital