From today's WSJ VC Dispatch and referencing the NY Times article. Obama has injected so much interest into CleanTech adoption, plus here in California we have our own set of government initiatives. I don't see the future dimming at all, despite the increased levels of competition in the space.
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http://blogs.wsj.com/venturecapital/2009/05/04/the-daily-start-up-silicon-valley-down-for-the-count/?mod=rss_WSJBlog
The New York Times has painted a dire landscape of the clean technology space in the past few days. On Thursday, in a story titled, ” Clean Tech’s Future Dims as Financing Drops Off,” the Times cites a large drop-off in first-quarter funding and wonders if “the green bubble” has burst. Then on Sunday, another story cited the first-quarter numbers and suggests that “the falloff in the early-stage technologies could affect countries’ abilities to introduce new technologies at the large scales that matter.” Quick take: Put down the fire torches (and pick up the energy-efficient LED lights). Three months represents a very small slice of data in the long-term investing world of venture capital. The cleantech sector’s funding woes are mirroring the overall decline in investments, and venture firms tell us they’ve taken a pause from investing in capital-intensive projects for the time being, especially as they wait to see what Washington does with its stimulus funds. So don’t think this sector is dying out - the Obama administration is determined to make oil independence a signature policy, and will make sure they throw a ton of money at the sector to the delight of VCs….
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