It’s the eve of the 2008 Gateway Summit.
The 12 Australian tech companies who will be showcasing on the Plug and Play stage this year are on their way to Silicon Valley or already here. Their presentations are in. The coaches are on board for the final adjustments and the ANZA team on the ground says “It’s showtime!” We’re all really excited. This is a great time to be a start-up.
That’s right. A troubled economy means good things for start-ups in Silicon Valley. The rumors are true. The American economy is tanking big time. The major newspapers are using the “R” word – recession. But start-ups in the Valley have better than a fighting chance.
Why is this?
At start-up you’re operating on an oily rag, your more advanced competitors with million dollar burn-rates are in trouble. Everything you need to get to market is cheaper. Everyone is willing to do a deal and there’s a glut of talented people who aren’t expecting big pay packets and are willing to work long hours to be a part of your success.
Yes, it really is time.
So check back over the next few days to see updates on our 12 companies. They will spend the next 3 days fully immersed in activities that show what it’s like to do business in the innovative tech capital of the world, Silicon Valley. Each will seriously consider if the US market is right for them – right now.