Entrepreneurship Alive and Well
I came away feeling very good about the spirit of enterpreneurship in the Boston area. Despite all the concerns about the market being overfunded and not having strong anchor companies in the technology sector, there is no question that entrepreneurs remain optimistic and are continuing to try new ideas and get new companies off the ground.
It is great that it takes relatively little capital to get a new company going. Both companies last night had developed their initial technology with less than $500K each. That gives them a shot to find out of their ideas will click with some market segment and become worthy of more significant capital for scaling.
Despite the forecasters predicting an economic downturn, I think that the technology sector will remain solid, particularly for smaller companies that are more nimble and able to attack emerging niches. Informal indicators like traffic on Route 128 and how full parking lots are in start-up haven office parks still seem robust.
Like the New Hampshire primary, I expect the 'experts' to be wrong.