VC activity is starting to pick up in the region. An article in today’s Washington Post by Alejandro Lazo has the headline, “Venture Funding Rises 13.9% in Region.” In essence, it says in the first quarter of 2008 venture capital firms invested about $264.6 million in area companies. IT firms received $68.5 million and software firms $54.2 million.
This should encourage the start-ups in the D.C. area. That community has expressed frustration lately over the ambivalence of VCs to companies located here. To their credit, though, they do not give up and keep pushing. Like anything good, the beginning is hard work but the rewards can be great. It is nice to see they are now starting to gain attention.
Jimmy Gardner has started a forum for the D.C. tech community as “an exchange of complimentary services and what a better place for one of us to ask for a little help. At the worst a good gathering place for all our little bits or information.” Great idea!
In an earlier post, he and others voiced their frustration at the lack of attention for the D.C. tech community. Instead of stopping there and giving up, he and the community are pushing back with ideas on how to create their own buzz.
It is refreshing to see that instead of giving in to the negativity and nay-sayers the rest of the tech world, they are using it as inspiration to succeed inspite of them. Well done.
As a side note, I suspect, in my humble opinion, the impromtu CXCC will be remembered as the “First Annual” and grow into a major event in its own right.