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Austin, Texas Technology Sector Revival

Austin's technology sector took a beating when the internet bubble burst in 2000. However, now several key trends point to substantive signs of a recovery, and Austin Ventures-backed companies are once again participants in that growth cycle.

In March 2004, I wrote a column about Austin's evolving role within the high-growth wireless and mobility arena. Today, and into the future, I foresee that Austin-based companies will have the opportunity to become a significant force in the development of new 'digital media' oriented products and services.

The Digital Convergence Initiative is actively involved in helping to bring together the previously isolated Central Texas companies that participate in the digital realm. Moreover, the current business model transformations occurring within the communications and entertainment sectors have created the next high-growth opportunity for Austin.

The emergence of the Digital Media Everywhere phenomenon -- fueled by global broadband market penetration -- will enable Austin to fully harness the existing creative music, film and technology related thought-leaders that call Austin, Texas their home. The next South by Southwest festival in 2007 will give the region the opportunity to leverage its core digital media assets, and attain global recognition for its unique mix of talent.

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