New Directions in European Private Equity
Does the venture capital industry need to develop a new private equity model if it is to continue to attract investor funds in the future? It is a question that must be occurring to more and more venture capitalists these days because it is certainly a hot topic amongst institutional investors increasingly disappointed at the…
The (Bigger) Business Development Story in Russia
IVI’s GoForward plan to capitalize on Russian technology for the petroleum industry is published in the flagship magazine, E&P, Hart Energy (Houston), December 2005. Topics in the GoForward Plan include: Deal flow and investment opportunities in technology Transforming Russian potential into solutions IP status of Russian technology Transparency, business practices and the Russian risk factor…
Continue Reading The (Bigger) Business Development Story in Russia
Scaling Up Innovation: The Path to Prosperity
INNOVATION, SMALL AND MEDIUM enterprises (SMEs), entrepreneurship and venture capital (VC) are ingredients in the creation of knowledge based economies; witness the success of Silicon Valley in large economies like the US and replicated in France, Germany, Japan, the UK, and elsewhere. Small country economies like Israel, Ireland and Singapore, with little domestic demand for…
Continue Reading Scaling Up Innovation: The Path to Prosperity
Scaling Up Innovation: The GoForward Plan to Prosperity
Innovation, small and medium enterprises (SMEs), entrepreneurship and venture capital (VC) are ingredients in the creation of knowledge based economies; witness the success of Silicon Valley in large economies like the US and replicated in France, Germany, Japan, the UK, and elsewhere. Small country economies like Israel, Ireland and Singapore, with little domestic demand for…
Continue Reading Scaling Up Innovation: The GoForward Plan to Prosperity
The GoForward Plan to Scaling Up Innovation – English edition
Innovation, SMEs, entrepreneurship and venture capital (VC) are ingredients in knowledge based economies; witness the successes of Silicon Valley in the US and replicated in France, Germany and elsewhere. Small countries like Israel and Singapore with little domestic demand for technology developed unique approaches to knowledge creation with excellent outcomes. The GoForward Plan to Scaling Up…
Continue Reading The GoForward Plan to Scaling Up Innovation – English edition
The GoForward Plan to Scaling Up Innovation – Russian edition, Harvard Bus Review
The GoForward Plan to Scaling Up Innovation – Russian edition
Continue Reading The GoForward Plan to Scaling Up Innovation – Russian edition, Harvard Bus Review
Scaling-Up the Innovation Ecosystem – Hungarian edition, Harvard Bus Review
A Z INNOVÁCIÓ, A KIS- ÉS KÖZÉPVÁLLALATOK (KKV-K), a vállalkozó szellem és a kockázati tõke a tudásalapú gazdaságok megteremtésének építõkövei; elég, ha a Szilícium-völgy sikerére gondolunk, és arra, hogyan ismétlõdött meg ez a siker Franciaországban, Németországban, Japánban és máshol. A kis országok – például Izrael, Írország és Szingapúr – gazdaságai, ahol a hazai technológiai fejlesztések…
Continue Reading Scaling-Up the Innovation Ecosystem – Hungarian edition, Harvard Bus Review
Technology Commercialization Project – Kazakhstan
TCP Kazakhstan Stats Technology Commercialization Project – Kazakhstan Summary: With little or no money from public or private sources to finance proof-of-concept through commercialization: TCP makes technology ready for customers or Angel/VC investors.
Continue Reading Technology Commercialization Project – Kazakhstan
Letter of Recommendation from GITA
As the Acting Chairperson of Georgia’s Innovation and Technology Agency (GITA), established under Ministry of Economy and Sustainable Development of Georgia, I am pleased to endorse and recommend the Innovative Ventures Inc. (IVI) contracted under Georgia’s National Innovation Ecosystem Project (GENIE), funded by the World Bank (Loan # IBRD-8595-GE) to conduct the mentoring services for…
Mobilizing $$ from Wealthy Families in Peru (& L. America). And Why Family $ is Not Angel $—Day #3 in Lima, Peru
Entrepreneurs’ most frequent complaint is how challenging it is to raise money, especially risk capital: founders in developing countries have even more difficulty since the amounts of venture money for investment in most emerging countries is less vs. the USA. Yet with the millions invested in food & beverage, fast moving consumer goods, retailing, wholesaling,…
Catching Money in Latin America—Day #2 in Lima, Peru
What actions can entrepreneurs take to not only raise money to finance their enterprise but as importantly—help L. American investors to see beyond the financial rewards of investing in just their company—& finance other ventures in the entrepreneurial community? By achieving this outcome entrepreneurs not only secure their future, but they impact the DNA of…
Continue Reading Catching Money in Latin America—Day #2 in Lima, Peru
Financing the Venture Capital Ecosystem—Day #1 in Lima, Peru
Entrepreneurs and investors speak about the need and urgency to increase investment and Scale Up start-up communities in their countries. Yet when it’s time to invest capital, the culture of risk impedes the flow of money from the wallets of local investors into the pockets of entrepreneurs. What are the fears which domestic capital has…
Continue Reading Financing the Venture Capital Ecosystem—Day #1 in Lima, Peru
Scaling Start-up Communities: How Does the Culture of Venture Capital Differ—in Brazil (& Other Emerging Countries) vs. the USA?
Roberto Alvarez journalist to the Brazilian media company Startupi (the Tech Crunch of Brazil) interviewed me (1st 30 seconds in Portuguese, then English) in August at Singularity University (SU). Roberto is one of the 80 GSP13 fellows who learned about exponential technologies and their application to create a team project which solves one of the ten…
Scaling Start-up Communities: Catalyzing the Korean Venture Capital Ecosystem
The Park Geun-hye government is embarking on an national agenda to not only integrate Korea’s economy more deeply in the global innovation ecosystem, but to be one of its leaders too—to increase the prosperity and well-being of not only Korean citizens, but residents of the world. Park challenged global leaders to use creativity, technology and…
Continue Reading Scaling Start-up Communities: Catalyzing the Korean Venture Capital Ecosystem
Mentoring at Singularity University
Every Summer Singularity University (SU) conducts the 10 week Graduate Studies Program (GSP) which challenges future leaders and entrepreneurs to tackle widespread global problems with innovative team-based technology solutions. Many of the teams develop projects which are commercialized in both developed and emerging market countries. This is my 2nd year as a team project advisor,…
Scaling Start-up Communities: Business Models Which Open the Wallets of Investors
Success in raising money from domestic investors in the emerging markets is not only about the ‘pitch,’ but the business model selected and executed which local $ will finance. Certainly entrepreneurs in the developing world must create and deploy business models which meet customer requirements for commercialization and revenue generation; but they frequently overlook which…
Continue Reading Scaling Start-up Communities: Business Models Which Open the Wallets of Investors
Scaling Up Start-up Communities: Engage Risk as Your Friend, not a Foe—to Impact Investor DNA—& Raise $ for Your Venture
The most frequent complaint I hear from entrepreneurs in the emerging markets is the lack of risk capital in their country; investors willing to finance start-ups and early stage companies. Many founders travel to America seeking money and connections in the US venture ecosystem. While a few are able to raise cash, most don’t—and return…
Keeping Entrepreneurship Alive
New Series, beginning soon, ‘Keeping Entrepreneurship Alive.’ The idea for this series came from a post to Brad Field’s blog Startup Revolution»Communities by Namek Zu’bi from Jordan, titled ‘Young Startup Communities: Beware of the Excitment Bubble.’
Part V: Scaling Up Investment—Finance the Startup of Start-up Communities
In Part V, subjects discussed: 1.) For Entrepreneurs—What are You Selling to Investors? 2.) For Investors—Let’s Be Realistic 3.) For Governments/Development Finance Institutions—Atypical Leadership Needed 4.) Concluding Remarks 5.) My Next Blog Series—Mobilize Local Capital to Finance Your Dreams 6.) About Me 7.) Links: Evolution of Runet (Russia Internet) & the Russia Tech Scene Last…
Continue Reading Part V: Scaling Up Investment—Finance the Startup of Start-up Communities
Part IV: The Quest for Growth—the Startup of Start-up Communities
(Nastas note to readers: From 6-22 August I was in Silicon Valley, mentoring 80 entrepreneurs from 36 countries on selecting, developing and shaping their business models to investors’ behavior to risk as I discuss in this blog series. I was one of approximately 15-16 team project advisors selected from around the world to serve in…
Continue Reading Part IV: The Quest for Growth—the Startup of Start-up Communities
Part III: The Power of Clones to Startup—Start-up Communities
Subjects in this post include: 1.) Drive Growth and Innovation in the Supply Chain 2.) Sidestep the Obstacles that Impede Scaling Up—Investor Attitudes to Risk & Failure 3.) Controversy of Clonentrepreneurship: Cloning the Idea or Hatching a Start-Up? 4.) The Spread of Clonentrepreneurship Last time in Part II, Cultures of Risk—Financing the Startup of Start-up…
Continue Reading Part III: The Power of Clones to Startup—Start-up Communities
Part II: The Cultures of Risk—Financing the Startup of Start-up Communities
Subjects in this post: 1.) The Cultural Divide: What Investors ‘Buy’ 2.) What Investors Fear 3.) The Culture of Venture Capital: Friend or Foe? Last time in Part I, I discussed: 1.) First, Three Definitions 2.) The Russia Tech Scene 3.) Growth in Russia 4.) What Changed for Growth to Emerge 5.) The Spark that…
Continue Reading Part II: The Cultures of Risk—Financing the Startup of Start-up Communities
Part I: The Start-up of Russia. The Startup of Start-up Communities: The Power of Clones in Russia—& Beyond
Last time I introduced the questions as topics for answers in this five part post series: 1.) What is the ‘spark’ that ignites the startup of start-up communities? 2.) How does the ‘start-up’ of startup communities differ—emerging markets vs. developed countries? 3.) Why is the US entrepreneurial model of experimentation, trial and error and pivoting…
INTRODUCTION: THE STARTUP OF START-UP COMMUNITIES; THE POWER OF CLONES IN RUSSIA—& BEYOND
What are the elements of a start-up community? What can you do to startup a start-up community in your city, or help it do more—faster? Venture investor Brad Feld (Foundry Group, Boulder, Colorado, co-founder of Tech Stars, blogger Feld Thoughts) writes about these subjects in his other blog StartUp Communities with his new book titled…
Michigan State Univ., Silicon Valley, Hungary & Emerging Markets
On 2 February I spoke to graduate and undergraduate students of Dr. Zsuzsanna Fluck at Michigan State University (MSU). Zsuzsanna teaches graduate and undergraduate courses in private equity and venture capital at the Eli Broad Graduate School of Business. Zsuzsanna is also the director of MSU’s Center for Venture Capital, Private Equity & Entrepreneurial Finance. …
Continue Reading Michigan State Univ., Silicon Valley, Hungary & Emerging Markets
Insider View, Twists & Turns in International Venture Capital
In January I delivered a lecture to MBA students, Ross School of Business at the University of Michigan. David Brophy, Director of the Office for the Study of Private Equity Finance & Associate Professor of Finance invited me to speak at his private equity class about my experiences in doing VC since 1986, with what…
Continue Reading Insider View, Twists & Turns in International Venture Capital
The Valley of Death. Market Failure? Or Rational Behavior of Investors to Risk?
Governments, development banks and investors poured billions of dollars to finance entrepreneurs in the ‘Valley of Death.’ Add in the millions of hours of human energy and thought devoted to creating solutions too, and the investment is truly staggering. Yet the Valley of Death still exists. Conventional thought defines the ‘Valley of Death’ as a…
Continue Reading The Valley of Death. Market Failure? Or Rational Behavior of Investors to Risk?
‘Path to Commercialization:’ An IVI Master Class in Mentoring
I created this program as Part II in my Master Class series of ‘Scaling Up’ at the request of John Hoxmeier, Associate Dean, Graduate Studies at Colorado State University (CSU). John is managing CSU’s executive MBA program in Kazan, Russia with students holding senior positions in state owned enterprises, Ministries of ICT, Industry, Trade & Development, the Tatarstan…
Continue Reading ‘Path to Commercialization:’ An IVI Master Class in Mentoring
‘Scaling Up Entrepreneurship:’ A Master Class in Mentoring
The seed for this Master Class came about from a request of the US Embassy Moscow to me in May 2010. The Embassy was asked by the the Governor of Novosibirsk, Russia to organize a conference on solutions the region could implement to stimulate more innovation, venture capital and entrepreneurship. My 60 minute presentation generated numerous questions that demonstrated the audience’s lack of…
Continue Reading ‘Scaling Up Entrepreneurship:’ A Master Class in Mentoring
Enabling the Globalization of Talent: Part II
There is a shortage of experienced entrepreneurs, project managers & CEOs to lead tech start-ups on the path to commercialization in emerging market countries. In my 1st post on this subject, I summarized the issues of attracting senior staff to start-ups in the emerging markets. Perhaps the path forward for emerging markets is to replicate the…
Continue Reading Enabling the Globalization of Talent: Part II
Enabling the Globalization of Talent: Part I
Thought leaders like Vivek Wadhwa, Steve Blank and others have helped emerging market countries to walk on the path of knowledge creation by creating programs like Start-Up Chile, an initiative of the Chilean Government to attract entrepreneurs to start their early stage companies in Chile. From Manila to Moscow to Mumbai, from Shanghai to San Paulo,…
Continue Reading Enabling the Globalization of Talent: Part I