A desert wind blows down Sand Hill Road The bursting of the dotcom bubble has left a sense of impending crisis among venture capitalists. But falling valuations have at least created some opportunities | Read Entrepreneur's guide How the rules of the game have changed Venture capitalists are not looking for bright ideas alone, but also for strong management teams and business plans, plus a secure intellectual property position. There is a growing aversion to risk Corporate venture investing Gold-diggers are here to stay Although corporate investment activity has declined this year, leading IT companies still see it as an indispensable requirement in developing nex-generation products Mobile applications Funding providers in cautious mood For now, the venture capitalists prefer to invest in enabling technologies on which new mobile applications will run US venture capitalists in London A cautious eye for growth prospects Two US-based VC companies are making measured approach to investing funds earmarked for Europe