"Reading the Crystal Ball: What Do VCs in IT, Communications and Life sciences see in 2003" was the topic of TiE-Boston's monthly dinner meeting held at Burlington Marriott on 27th January. More than 300 enterpreneurs were present at the first TiE-Boston monthly meeting held in calender year 2003.

The event focused on the entrepreneurial scenario of 2003. A panel consisting of venture capitalists with interest in different sectors laid out a vision for the future of entrepreneurship in 2003. The panel included Ajit Nedugundi, Vice President TA Associates, Lane McDonald, General Partner, Alta Communications, Eugine Hill, General Partner, Schroder Ventures and was moderated Kevin Dennis, Partner Godwin/Proctor LLP.

“In the IT sector, the shift is towards offshore out-sourcing and there is no money for product that require long for products with long sales cycles,” said Ajit. “But the excitement in the IT business will not be the same in 2003 as it was in 2001 or 2002”

Lane Mcdonald presented the entrepreneurial scenario for communication industry. “Wireless system providers and cables are the hot areas in communication industry “ said McDonald. He noted that money had dried up in service side, internet and data service side of this industry.

Life Sciences arena appeared to be the most exciting of the three sectors. “Biotech, proteins, therapeutic products and antibiotics, medical devices, health care service side and health care information are all hot areas in Life Sciences. E-health and tools are not favorites of the VCs. Everything that is hot today, will turn out not so interesting and vice versa,” said Eugine Hill the VC with an interest in Life Sciences.

The impact of the down economy was felt in the audience. To energize people in a down economy is an uphill task for Tie. But TiE has many plans for 2003. Gautam Prakash, President, TiE Boston Chapter outlined the program for 2003. Monthly meetings, special interest group (SIG) meetings, mentoring programs and annual conference are all part of TiE-Boston’s 2003 plan. Gautam shared TiE's vision to provide support to entrepreneurs at all stages of building business through TiE Institute, TiE Venture, TiE Mentoring Service, TiE Venture Forum and Angel Forum. He urged attendees to become members and enjoy the member only sections of the web-site, discounts for the meeting and other member only benefits.

Further Information about TiE-Boston's event is available online at http://www.tie-boston.org

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