Having met with a number of NYC entrepreneurs recently, I am refreshed to see that many of them are utilizing offshore resources to develop their products. Yes, this is not a new phenomenon, but in a city that lacks hard core developers willing to work for options instead of cash like the Wall Streeters, it is significant. New York has always been known as a strong new media capital and not known for development of real hard core software. New York is also known to have one of the greatest customer bases in the world. Combine access to customers with an ability to manage and use offshore resources effectively and you really get a good opportunity to build some interesting companies in New York.
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Ed Sim is founder of BOLDstart Ventures and co-founder of Dawntreader Ventures. Mr. Sim has over 15 years of venture capital experience having led seed and first round investments in a number of high profile Internet and software companies.
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Martin Wawrusch: Hi Ed, you might want to take a look at http://lea...
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Larry Tutino: Hi Ed, I do the same thing with real estate deals...
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DzNtz: well, for starters these executives can start actu...
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Peter Kadas, MD.: I'm an entrepreneur for 16 years now. I had wins a...
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Agreed. NYC is a horrible city to start a SW company. Talented developers all work on Wall Street; no core of universities (like Silicon Valley), etc. However, the money and the customers are here. That is a good place to start. At my company, we opened shop in NYC and did our high level architecture and PM work here, but opened a dev shop in Eastern Europe.
Yes, that is why I am here as a VC in NYC-because I love living here and this is where the customer $$$ are. As outsourcing becomes more prevalent, it becomes easier and easier to develop core technology. However, the one problem I have had, having invested in a number of software companies in the area, is that it is difficult to find high quality, experienced VPs of Engineering and VPs of Product Managment who have launched successful products before.