Washington area pops onto tech radar as alternative to Silicon Valley - Washington Post
“Silicon Valley is the hub of the tech industry. I would say you ignore it at your peril,” said Joe Payne, who sold Eloqua, his Tysons Corner-based software company, to Oracle last year.
But the Washington region is creating a selling point in stability and predictability. Take Tim Sullivan, who in 2004 was seeking West Coast investors for cybersecurity company Fidelis Security Systems. Venture capitalists in California insisted that he move there, but he declined and found East Coast investors for the company, which has since been sold to contracting giant General Dynamics.
Sullivan, who now heads a cybersecurity company with a Chantilly office, said he’s never had trouble finding qualified engineers in the Washington area, and he thought turnover would drive his costs higher on the West Coast. “If people feel like the venture’s not working out, they may not stick it out and they may look to the next hotter venture,” he said.