Hispanic Net brings Investors and Entrepreneurs together for the Annual Venture Forum: Friday, October 17, 2008

(Menlo Park, CA, October 17, 2008) In this record-smashing economic downturn, startups must get back to the basics in order to survive and thrive. This was the tune of the day on October 17 for participants at the 2nd Annual Hispanic-Net Venture Forum presented by BestBuy, Inc., an annual gathering of Hispanic business leaders, venture capitalists and other investors.

The Menlo Park event attracted entrepreneurs from around the U.S. who are seeking funding and advice in one of the most challenging business environments in generations. The event was held at the Quadrus Conference Center located in the heart of the Sand Hill Road VC community. Featured speakers included Skip Glass, Partner at Foundation Capital; Miriam Rivera, former vice president and dep uty general counsel of Google; and Jeff Weness, Hispanic Initiative Director of Best Buy, Inc.

Participants included Hispanic businesses focused on financial services, e-commerce, en tertainment and technology. In a series of panel and one-on-one discussions, Hispanic-Net Venture Forum speakers pushed startups to deepen customer relationships; close deals more quickly in a softening business environment; and bolster their management teams with straight-shooting advisors who can help them get through tough times.

“In spite of the real hiccups of the current economy, Hispanic-owned businesses are uni quely positioned right now to secure the funding they need to start and grow their firms,” said Best Buy’s Weness. “U.S. Hispanics will represent $1 trillion in spending power by 2010, and marketers who understand this community are tapping into a highly brand-loyal consumer base that has much more disposable income than in years past.”

Businesses are also likely to face less competition while serving a diverse but highly con centrated Hispanic market, according to organizers. Commented Hispanic-Net chairman Margarita Quihuis: “We know nervous investors are looking to shift some of their money from more mature, saturated markets. They are watching the Hispanic community very closely because it is highly underserved and ripe for low-entry investments that can pay sustainable dividends.”

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