Wednesday 13 March 2013

Venture Capitalists Hunt for Investments at SXSW

Amy E. Price | Getty Images Entertainment | Getty Images

Anil Dash, co-founder of Activate and Internet entrepreneur Dennis Crowley speak onstage.

Gordon's colleague, Chi-hua Chien, another general partner at KPCB, said he thinks the big trend to watch is "the rise of the local web."

Pointing to AirBnB, Uber, Zaarly, Lyft, Cheery, he said, "All these companies are building for the local web, which didn't exist in the overall natural web because of the rise of mobile devices." He said all these tools are great for small businesses and great for the economy. Mobile devices are "enabling a great way for people to make a living now," Chien added.

Scott Weiss, a partner at Andreessen Horowitz, said this is the year of the gadget at SXSW.

"I'm looking for ideas that transcend this petri dish here," Weiss said, referring to the fact that one of the hottest companies at the festival last year, Highlight, never took off in the mainstream.

"The spaces we are looking at [are] all types of global mobile commerce and I think that one of our companies, Shoptiques kind of embodies what I would call, 'the OpenTable of blah.' You know every business that you walk into today, whether it be a boutique or car repair shop ... All those '90s blue screen TVs [in those businesses] will be replaced by a mobile device and a cloud service, and they're just happening vertical by vertical."

Source: http://www.cnbc.com/id/100545832

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