One of the members of our Board of Advisors, Steve Blank, wrote a great post on innovation and social media.  He explains why VCs are so fascinated with social media startups and the realities of why they funding social media startups.  The reality is that payout is huge -- and it comes fast.  Investing in a social media startup may mean more money in a shorter amount of time.  

But, what’s next?  Much of the disruptive startups in the recent past are not in social media.  Instead, they're in materials, or medical devices, or cyber. Since Silicon Valley goes through different waves of innovation, what do you think will be the next wave of innovation?  Will it be in medical devices? Energy? Robotics? What are your thoughts?

http://steveblank.com/2012/05/21/why-facebook-is-killing-silicon-valley/

If you are an entrepreneur in Silicon Valley, building your product is only half the battle. Networking is equally, if not more, essential to the success of your business. Whether you are looking for a co-founder, developer, partner, investor, or mentor, you can find what you need in the Valley. The best part is, everyone looking to network will convene in one place for similar goals.

It’s important to know the ins and outs of networking events and how to most efficiently ‘schmooze’. We’ll guide you through the preparations, the main event, and follow up procedures.

KNOW BEFORE YOU GO

Before you commit to anything, make sure you know what your goals are. Do you want to expand your network or inform your network? Are you looking for a job, a co-founder, investment or simply just advice? Establishing your objectives will be the best way to streamline your efforts and help you land a second date.

Do you ever wonder what investors will ask during your pitch?  Here’s a list of commonly asked questions to keep in mind when prepping for your pitch:

1.     What is your business all about?

This is your 30-second elevator pitch.  Make sure you grab the investors’ attention!

2.     What is unique or different about your business?

Explain what makes you special and why.  This is your value proposition.  Why should anyone care about your business?

3.     Who are your competitors?

Do you know whom you’re up against?  How do their products differ?  Do your research.

4.     What is the market potential?

Identify how big your market is.  Sell your case.  Make sure to tell investors how you calculated the market potential.

In preparatory excitement for our tour of Russia in September, we have been revisiting our last trip to Vilnius through video. Here, Monique Barbanson gives an insightful lecture on the importance of teams in startups.