Global Themes

On Globalization & Venture Capital

No longer catching up with Silicon Valley…

A few days ago, Shefaly sent me this link of a BBC News story: From Oxford to Silicon Valley.

In her own words, it is, “Very interesting (and)…although nothing new, but to see it being said again by a young man in 2007 makes it worth paying attention to. “

The piece is written by Kulveer Taggar, CEO of boso.com and he writes about why he moved to Silicon Valley and why California is the place for those with entrepreneurial spirits. 

Kulveer cites a few reasons behind his move:
• Chance meetings and chance conversations
• Expensive London
• Competition for talent in London (with I-Banks and consulting firms)
• Difficulty in raising capital

He also mentions how in California:
• The spirit of co-operation is strong.
• “Networking” isn’t something that has to be organised or encouraged, it just happens.
• The weather is great and the vibe is friendly, optimistic and ambitious!
• Big thinking is encouraged and not frowned upon as is sometimes the case in London

While Silicon Valley no doubt is “a great place to start a company because there is more capital, a bigger talent pool , and because the most important companies and people are here”, I really think that Kulveer is a bit harsh at times, e.g. “The risk appetite amongst British investors is low, and it was also frustrating that I often ended up educating investors about the internet in general.”

While composing a response to this, I chanced upon this post by Saul Klein, “Y Europe can seed growth of its new stars”…After reading that, there was really nothing left to say…

Below are some excerpts from Saul’s excellent post…but do try and read the original in full and also the comments….lots and lots of good thoughts there… Keep Reading…

February 25th, 2007 Posted by | Entrepreneurship, Venture Capital in Europe | one comment