SAN JOSE, Calif., Dec. 10, 2009 — Women's Pink Ventures sponsored their annual "Year in Review" on Monday, December 7, 2009 at the Hyatt Regency in Northern California. Representatives from technology, law, private equity, accounting and insurance industry sectors were in attendance. The group discussed the challenges of 2009 and reviewed recent technology innovations and opportunities.
Julie Davis, Aon Corporation, was the luncheon keynote speaker at the annual "Year in Review." Davis opened the keynote optimistic about a technology rebound. "The number of new startups, venture capital funding and mergers & acquisitions are all on the rise," she commented. In addition, "many new exciting technology products are being launched across the various tech sectors." During her keynote, Davis reflected on the past year and shared changes that will influence risk management in the tech sector in 2010.
Acquisitions are making a strong comeback in the tech sector. Q1, 2 and 3 reflect approximately $62.4B in M&A activity, compared to approximately $41B in 2008. M&A transactions demand that risks and opportunities are recognized. Managing those business risks in an increasingly complex global environment will be important throughout 2010.
The market was healthy for new firms. Q1, 2 and 3 reflected over 1,600 new technology firms. Davis commented that "technology innovation and great ideas continue to surface. For new technology firms, finding the right coverage to fit the life cycle and address unique risk characteristics is key." Davis commented, "Not all new technology firms are startups; many spun out of an established organization and have considerable risk issues to consider out of the gate." Davis shared with the audience the groundbreaking research she has been conducting on why some new starts and middle market firms are more successful than others and the role risk management plays in their survival.
Venture capital funding in Q1, 2 and 3 reflected approximately $17B, as compared to approximately $13B in 2008. Web, biotechnology and software continue to get the most funding rounds, while the cleantech sector was generating the most money. Davis articulated, "While venture spending is still down, we are seeing funding at later stages of financing and fewer opportunities, signaling a continued shift in how venture firms view opportunities and the importance of managing critical risk factors."
Davis concluded her presentation, and reflected on the top technology products and innovations that will change risk management changes in 2010. They included: increase in DDoS attacks, cloud computing, data management challenges, mobile innovation, changes in browser standards, developer communities and the growth of social networking. In addition, other changes will play a role in how technology firms manage their risks. They include changes in corporate governance and board risks, changes in privacy and intellectual property laws and growing global and contractual risks.
Women's Pink Ventures concluded their schedule for 2009. Their prime task is to see that the technology industry is headed in the right direction, and they remain optimistic about the rebound of the tech sector. Julie Davis was appointed 2010 President of the non-profit and will be working with technology firms, and their business advisors, to enhance the foundation that has been laid. Some of the members of Women's Pink Ventures will be hosting a joint blog, launching in January 2010.
Contact:
Anna Smith
Women's Pink Ventures
415-483-1285, ext 0291
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