Though the economy is still struggling and it becomes increasingly likely that another recession is on its way, start-ups for mobile and social are popping up above the crowd and are receiving the funding they need to continue onward and upward, turning innovative new concepts into the latest in cutting edge technologies.
Quid, a business intelligence software company, has data that indicates that since the start of 2011, there have been 2,942 new start-ups in the mobile and social sector and the Series A/Seed funding that they have raised is 25 percent greater than it was at the same time in 2010.
Some of the funds came from venture capital firms and angel investors came from the 500StartUps, a start-up venture firm. They were found in September, at the Smash Summit held by the firm in New York City. This event provided investors and entrepreneurs in ecommerce, social media, and gaming with a venue for making connections so that growth could be achieved within this challenging economy.
According to Sumaya Kazi, the founder of the web service called Sumazi.com which helps people to make the connections they need, “Silicon Valley has seen a trend with start-ups focusing on the intersection of social, consumer, and mobile technologies.”
The Sumazi service is based on a foundation of social environments such as Twitter and Facebook so that its users can uncover their potential networks. Kazi explained that start-ups are attempting to discover how all of the social data available to them can be used to help them to make better choices regarding “new connections and purchases”.
