The inaugural Capital Data Summit took place on Feb. 15, 2017 at The Ritz-Carlton, Tysons Corner. Here on the NVTC blog, we continue to share content from this exciting event.
The Summit’s engaging VC and Growth Investing in Commercial and Government Data Opportunities panel shared approaches in analyzing, financing and building successful businesses, and the latest data investing opportunities in the commercial and government markets. Panelists included Updata Partners General Partner Carter Griffin and Revolution Growth Partner Steve Murray. MAVA Executive Director Julia Spicer moderated.
Here are some of the valuable points that emerged from this discussion:
- Greater Washington’s loyal and expert talent pool set the region apart from other tech hubs in terms of investing. According to Griffin, “Around here…we find people are loyal to the cause and want to join these companies and really build something. I think that’s a nice backdrop for building a company.”
- Investments hinge on a company being able to solve a fundamental problem or improve the customer experience. Companies must be able to explain why they are “nailing their niche.”
- Investors are finding themselves betting on technology trends that may happen in five to ten years.
- Investments in machine learning, artificial intelligence and unstructured data enterprises are rapidly expanding today.
- While entrepreneurship continues to grow in areas beyond Silicon Valley like Greater Washington, Boston and Austin, there are valuable lessons to be learned from the Silicon Valley ecosystem that does a great job fostering entrepreneurship:
- Silicon Valley has a strong culture of mentorship and collaboration that can be fostered further in other areas
- The networking culture in the Valley is unmatched; entrepreneurs are confident talking about their products in a variety of settings
- Silicon Valley entrepreneurs are not as hesitant to make mistakes
- There is stronger collaboration between established service providers and startups; service providers in the Valley really take the time to help startups grow
Return back to the NVTC blog soon for more Capital Data Summit content!
Check out the full Summit photo gallery!