2008′s Best performing startups
If you want to know what will happen in the future, look at the past. A recent article on Business Week compiled some of the most successful startups for 2008, according to venture capitalists. The list is dominated by eco-sensitive products and services, as well as biotech and pharmaceuticals. The trend is likely to continue next year, with VCs keen to stick on formulas that are known to work rather than take risks, so reading up on how these companies were able to come out on top should be of interest to you.
One good example is RecycleBank, a startup based in New York, founded by Ron Gonen, now CEO, and Patrick Fitzgerald. Over the last year, investments in their small company have reached several million dollars. According to Business Week:
“Founded in 2004 by Columbia Business School grad Ron Gonen, RecycleBank is a recycling system designed for municipalities that rewards people for recycling with points that can be redeemed at retailers. The company, which has raised a total of $45 million, contracts with cities and towns to set up systems to collect and track recycling. Currently running in 15 states and dozens of cities from Alexandria, Va., to Albuquerque, N.M., RecycleBank makes money by taking a cut of the savings municipalities realize by reducing the amount of waste they send to landfills. With local government looking to save during the downturn, Gonen calls it a “unique time in our growth curve.”
If you’re curious about the others on the list, head on over to this link.
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