Despite global economic recession, not all entrepreneurs are giving up their plan to start new venture. Thanks to advance technology like web 2.0 and cloud-computing that result in less cost of starting up a business. The following are written by Rachel Metz for AP.

MOUNTAIN VIEW, Calif. (AP) - With many established businesses just trying to survive, you might not think it's a good time to start a company, let alone ask anyone for money to help get it rolling. But if a series of presentations from fledgling Silicon Valley startups is any indication, innovation is not braking for the recession.

Over three hours Wednesday, more than a dozen startup founders - most of them in their 20s - gave rapid-fire talks to a group of peers, journalists and potential investors about their companies.

Many of these startups are just a few months old, and some have not yet launched. Those on display ranged from an online marketplace selling gourmet treats to a company offering Web-based voice conferencing. Another is developing dating applications for the iPhone.
The presentations comprised "Demo Day," an event held twice a year by Mountain View-based Y Combinator, which provides startups with small amounts of initial funding (usually $5,000, plus $5,000 per founder) in exchange for small ownership stakes. Since its inception in 2005, Y Combinator has funded about 40 startups each year; it hopes to use a recent $2 million infusion from venture capital firm Sequoia Capital and other investments to bump the number up to 60 per year.

Despite Economy, New Startups Retain Optimism