Sunday, 13 April 2014 00:00

Where Is The Next Silicon Valley?

It seems as though most every place that isn't actually Silicon Valley lays some claim to being the next Silicon Valley. Fair enough: Tech companies are the future, and it doesn't seem to be getting any harder to raise money to run new ones. Venture capital firms passed out more money at the beginning of this year than they have at any time since 2001, according to data released April 10, 2014 by investment researcher CB Insights. The CB data show that companies raised just under $10 billion in 880 separate deals over the first three months of this year.

Published in Research & Trends

Y Combinator's a US business launched the first Female Founders Conference which brought approximately 500 women together last Saturday afternoon to hear discussions of startup struggles and stories of success. G8FMFJG2AJ2V

YC co-founder Jessica Livingston said they were please with the turn out and plan to repeat the conference again next year, Saturday's event took place in California’s Hahn Auditorium at the Computer History Museum. Keynote speakers included several female startup founders who shared their views including business inspiration, successes and also failures, but the key message was trial, error and persistence are the common keys to a successful business

Adora Cheung’s journey stood out. She is founder of Homejoy, an online platform for home services. For years, Cheung and her younger brother Aaron tried several startups unsuccessfully before finally getting it right with their current business. Their latest endeavor has been a big success and is now established in 30 markets nationwide across the U.S. The business boasts 100 employees, with offices in San Francisco and New York City. Cheung successfully raised around $40 million in venture capital, and has now exceeded a monthly revenue in millions. But she described their first 1,000 days as "the dark ages," eventually stumbling upon the realization that its not worth working on draining projects and best to focus on those that can be developed rapidly and effectively. Interestingly the idea for the business came when the siblings worked out of bachelor Aaron's apartment, which Adora said, was a mess with a bathroom so disgusting that she refused to use it. That led to a frustrating experience of looking for a house cleaner, then the realisation, "There's actually a problem here we can work on," she said and Homejoy was created.

Aaron and Adora Cheung of Homejoy

Speakers included:

Adora Cheung, Founder, Homejoy
Michelle Crosby, Founder, Wevorce
Diane Greene, Founder, VMware
Julia Hartz, Founder, Eventbrite
Elizabeth Iorns, Founder, Science Exchange
Ann Johnson, Founder, Interana
Jessica Livingston, Founder, Y Combinator
Jessica Mah, Founder, inDinero
Kathryn Minshew, Founder, The Muse
Danielle Morrill, Founder, Mattermark
Elli Sharef, Founder, HireArt
Jamie Wong, Founder, Vayable

fundedflow looks forward to seeing the lineup for next year, for more information please visit the website

Published in Features