Banking / Finance

Silicon Valley Banks Big on Data Elite, Incubator For Big Data

18th Oct `13, 06:12 AM in Banking / Finance

A cadre of Silicon Valley investors think they’ve found the Next Big Thing (as in thing where there’s…

BDMS
Guest Contributor
 

A cadre of Silicon Valley investors think they’ve found the Next Big Thing (as in thing where there’s lots of money).

It’s Big Data.

Data Elite — backed by a “group of high-flying Silicon Valley investors,” according to Reuters — is a combination incubator and venture fund that’s seeking to sink capital into firms that can monetize data mined. But not just any old way.

Managing director Stamos Venios says that Data Elite will invest $150,000 in up to ten companies, which will be chosen beginning in January — and no fly-by-night start-ups accepted.

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