No 8 Ventures

A View From The Top

Posted by: | Andy Lark | Marketing & Evangelism | Technology | 10.06.2006

One of the many advantages of sitting in Silicon Valley as a NZ VC is the networking opportunities. It is no exaggeration that every day affords you some opportunity to sit with potential customers and partners. This week it was breakfast with Rich Breunich, head of the Enterprise and Emerging Technology Group within Citigroup’s IT organization. There must have been about 50 start-ups at the event.
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Rich was very clear than start-ups and smaller companies have a real opportunity to sell to Citigroup. He went on to say that they feel that most of the innovation will come from emerging companies. Saying that, don’t expect them to carve out a little corner for you to test in – you’ll have to operate at the level as all enterprise vendors.

Citigroup’s Emerging Technology Group is specifically designed to facilitate the adoption of new technologies. The message was clear – size doesn’t matter. Citigroup are one of the world’s largest software companies – they have more data under management than Google – almost three times more. So, breakthrough technologies matter, where they come from matters less. Look forward to chatting more about this at Morgo.

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