Beyond Silicon Valley

That's one of the reasons Janus and I have looked beyond Silicon Valley when it comes to building and staffing our businesses, and why we continue to do so now as investors through our venture firm Atomico, which has already made a number of investments in companies based in Europe and South America.

We aren't alone. There is a growing pool of early-stage investors based outside Silicon Valley who are looking way beyond the area for the next big ideas. Their presence is a boon to entrepreneurs who previously had to pitch ideas over long distances and in foreign languages. Not only do they share a language and a culture, but local entrepreneurs and VCs share a desire to improve the standing of their countries and want their countrymen to succeed. As the new crop of global tech hubs grows, many more entrepreneurs will succeed, regardless of whether they receive a blessing from Sand Hill Road.

Zennström is the cofounder of Kazaa, Skype and Joost, and a cofounder and partner of Atomico, a risk-capital firm.

© 2007