In the latest episode of the programme "A technical matter", entrepreneurs and venture capitalists describe the ecosystem of Silicon Valley and gave some tips and pointers to the founders of technological start-ups looking to break into the American market.
Mikhail Pogrebniak, the founder of the visual Internet search project "Kuznech", decided to go to Silicon Valley to try to get his start-up going on the American market, like so many other entrepreneurs. In California Mikhail often goes to conferences, exhibitions and master-classes attended by representatives of technology companies
«Events like this help start-up owners to get a grip on their ego, realise that they are not the only ones doing what they're doing, and come to terms with the fact that they are working in an extremely competitive environment. They learn that what they have achieved thus far is not enough to make them a star, not by a long chalk, and that they have got a lot of people snapping at their heels, so they cannot afford to take their foot off the gas if they want to get results», Mikhail Pogrebniak tells us.
According to the founder of the business accelerator Black Box, Fadi Bishara, who provides finance for entrepreneurs making their first steps in business, Russian developers often make the mistake of expecting to see rapid returns from their projects, when such expectations are not justified.
«That's not the right approach. Focus on your product! You know, a lot of people would say that you ought to focus on money above all else, but I say: that's not right! Put your money down on the table. Be generous, get rid of anything you don't need, and work on the basis that you have a long way to go until you start making a profit», Fadi Bishara maintains.
Having said that, the investor readily admits that the Russian projects that have been unveiled in Silicon Valley are among the most interesting projects of all.
«Silicon Valley is a way of thinking. Some of the greatest minds on the planet are gathered here. It doesn't matter where you're from, or who you're related to. The only thing that matters is how good you are, how smart you are, and how you work. At the same time, investors are prepared to assume all the risks with regard to developing young entrepreneurs' ideas, and that's something you won't find anywhere else in the world», says the founder of the venture capital fund Ullas Naik, who invested money in technological projects 17 years ago.
Silicon Valley is the name given to an area south of San Francisco, in California, USA. It contains several cities with large concentrations of hi-tech companies, and some of the country's leading universities. According to the data published in June 2013, there are tens of thousands of technological companies in Silicon Valley that are currently in the start-up phase.