Growing the social investment market: turning rhetoric into reality
Jonathan Jenkins is encouraged by the Cabinet Office's progress report on the state of the social investment market
The social investment market is growing, but is it set to blossom? Photograph: Luong Thai Linh/EPA
The government's progress report on growing the social investment market (updated 5 June 2013) shows this is crunch time for the social investment market.
(now "Future of work, Germany meets Silicon Valley")
July 11, 2013, blogs.ec.europa.eu/neelie-kroes/improve-billionaire-company-europe/, "Guest post - how the next big billionaire company can come from Europe"
(Opening) Thematic Debate on Entrepreneurship for Development - General Assembly
IAN MACMILLAN, The Dhirubhai Ambani Professor of Innovation and Entrepreneurship
Unique Identification Authority of India (UIDAI) on Friday unveiled three new Aadhaar-enabled services which would help residents to authenticate their identity anytime and anywhere through a digital platform...
"The centres will facilitate enrolment of residents left out during the camps organised by registrars in the past and also facilitate biometric and demographic update," UIDAI Chairman Nandan Nilekani said...
GIANT, Grenoble Innovation for Advanced New Technologies
(it is necessary to book a few weeks in advance to visit -get a tour of- some of the participants installations) (+virtual tour of Grenoble School of Management)
www.giant-grenoble.org/en/industry-sitemap/giant-start-ups..."A decade’s worth of start-ups: 50 in all"...
As a founding member of GIANT, Grenoble Ecole de Management will leverage its long history of academic leadership in technology and innovation to spearhead GIANT's center of excellence in Technology and Innovation Management.
Grenoble Ecole de Management was founded in 1984 at the request of forward -looking companies—Bull, Caterpillar, Hewlett-Packard, and Merlin-Gerin— operating in the Grenoble area.
Grenoble Ecole de Management quickly moved beyond the scope of a typical business school, making forays into technology and science...
GIANT members have launched two initiatives to help campus researchers better understand the procedures involved in certain EU research and innovation programs and prepare their applications. These are just two in a growing number of services that the campus now offers to encourage cooperation and leverage expertise. These most recent initiatives focus on European Research Council (ERC) grants and the new Horizon 2020 Framework Programme. In both cases, GIANT is bringing in outside experts to ensure researchers benefit from an effective service and fully understand all the subtleties of these programs.
The ERC is a pan-European organization aimed at improving recognition, creativity, and effectiveness in the field of leading-edge European research. Following a competitive peer review process, the best researchers receive funding to conduct their research activities in Europe. Grants are awarded to projects led by both novice and experienced researchers, of all origins—the sole selection criteria is excellence in science.
To help improve candidate researchers’ chances of obtaining an ERC grant, GIANT sponsors training days given by a consulting firm. Candidates having participated in this training are invited to contact the firm once they have prepared their applications so that they can be proofread before submission. Candidates also benefit from personalized interview preparation in the presence of consultants and previous grant recipients.
In parallel, GIANT has launched a support service to answer any questions candidates may have and help them prepare applications (analysis, proofreading, etc.). The cost of training and assistance in preparing applications is covered by the GIANT Innovation Campus...
A recent study examines the role of personality in spurring entrepreneurship across states and regions. The study, titled "The Regional Distribution and Correlates of an Entrepreneurship-Prone Personality Profile in the United States, Germany, and the United Kingdom: A Socioecological Perspective," was carried out by a team of U.S. and German psychologists, including Sam Gosling of the University of Texas at Austin, and published in the Journal of Personality and Social Psychology in April.
Entrepreneurs, according to a wide range of psychological studies, tend to have risk-taking, achievement-oriented personalities. They also fit a particular set of Big Five personality traits, as the study notes, and score high on three key traits — extraversion, conscientiousness, and openness-to-experience — and low on agreeableness and neuroticism.
The study examines the effects of this entrepreneurship-prone personality profile on entrepreneurship in the U.S., U.K., and Germany. The U.S. analysis compares the geographic variation in this entrepreneurship-prone profile for more than 600,000 individuals. It also takes into account measures such as the self-employment rate, business foundation rate, and the Kauffman Index of Entrepreneurial Activity, as well as control variables for economic output and unemployment and demographic factors including race, age, and gender
The study also considers the role of entrepreneurial personality in Germany and the U.K. The German results largely follow the U.S. pattern. The entrepreneurship-prone personality profile is associated with actual entrepreneurial activity. For the U.K., however, they find a statistically significant relationship between entrepreneurial personality and total early stage entrepreneurial rate, but no correlation to self-employment. Separating out Northern Ireland from the analysis (they argue that its agriculturally based economy skews the results), they find a positive association between entrepreneurial personality and self-employment...
Ewing Marion Kauffman Foundation
There are few constants in entrepreneurship—perhaps none. That is why when something appears to be even semi-stable across meaningful periods, it is usually worth further investigation. This short paper investigates just such an apparent constant. Specifically, it is often claimed that there only are fifteen to twenty information technology companies created per year in the United States that turn out to “matter,” where matter is defined as the company (relatively) promptly going from founding to $100 million in revenues. Further, and of real consequence to cities and regional economies, is that most such companies founded in any given year are thought to be in California. This paper tries to find out if the preceding is true.
For our purposes, companies that matter must meet (at least) the following three criteria:
- They must be scalable. They must, in other words, be able to grow to at least $100 million in revenues, and ideally, much larger.
- They must be disproportionate creators of jobs. They must be able to generate jobs quickly and broadly, even if they may not generate jobs in line with their revenue growth.
- They must be disproportionate creators of wealth. Both directly, through profits, salaries, and profit-sharing, and indirectly, through equity, options, and perhaps a public listing, they must put wealth back in the hands of the company’s ecosystem.
A list of some of our awesome speakers and judges is at bit.ly/17ToygY. Wise words indeed— MBA WT + Startup DUB (@MBAworldtrophy) May 11, 2013
Not just a global college startup competition. A movement to build sustainable businesses through Innovation-Finance-Growth & Leadership. Join us! May 2013 .
Who is Ireland's best female entrepreneur: startupdublin.ie/twitter-competition/
The Next Web Conference Europe 2013, has announced the winners of TNW Startup Rally.
Tyba, startup created by BBA Students Jorge Schnura, Eiso Kant and Philip Von Have has won the Public Vote Award
For more information:
23 April, 2013
Dragon´s Den, already showing in 16 countries, will be broadcast on Spain's first channel next September. Deadline for the first round of entrants is the 1st May.
The Wand Company grossed £1 m in the first year of its release and is expected to gross double in the coming year. (see negociations in video)
“You can become someone if you put your mind to it. We all got the message.” The program is offered every summer by Imperial and Her Equality, Rights and Autonomy (HERA), an London-based organization that encourages entrepreneurship among women like Jane as a way to fight trafficking. HERA and Imperial recently committed to continue their partnership for the next five years.
About 25 women per year—a total of about 130 so far—have participated in the program since its inception in 2008. Some have gone on to build small businesses, among them a hair salon, a home-cleaning business, and a bakery..
"Her Equality, Rights and Autonomy"
Our Vision: Women entrepreneurs can prevent trafficking and fostering entrepreneurship builds on the resilience and determination of survivors.
Our Dream: Create a world where “Her Equality, Rights and Autonomy” become the reality.
Our Challenge: Welcome all formerly-trafficked women, aspiring women entrepreneurs, and/or women vulnerable to trafficking who will benefit from our programmes, whilst becoming more sustainable and efficient each year.
so we welcome this research by Ulf Axelson and Milan Martinovic both of the London School of Economics because it challenges three key myths of venture capital performance in Europe – that the likelihood of a successful VC exit is lower in Europe than in the US; that some vaguely understood determinants of success are tilted in favour of the US and against Europe; and that there is a chronic stigma around failure which harms European entrepreneurs.
You know the party line about women today: They're "opting out" of business, fleeing the confines of the corporation in droves, unwilling (or unable?) to make it in the big leagues. But if all these smart, ambitious, experienced women are leaving, we wondered, where are they going?
Turns out that while many left corporate America, they've hardly left business behind. What they're doing is striking out on their own, launching companies at a higher rate than any other group. According to the Center for Women's Business Research, from 1997 to 2004, the number of women-owned businesses grew twice as fast as all businesses in the United States. One in 18 adult women in the United States is a business owner. Women-owned companies generate $2.5 trillion in annual sales and employ nearly 20 million people.So who are these women? What kinds of companies are they founding? What have they learned--and what can we learn from them? To find out, Fast Company teamed up with the Women Presidents' Organization (which offers help to women owners of companies with more than $2 million in annual revenue) to launch a search for the Top 25 Women Business Builders...
Via (@whartonmagazine 11:59 AM - Feb 28, 2013)
Angel Investor, Non-Executive Director, and Advisory Board member of LinkedIn
Sherry Coutu is a former CEO and angel investor who now serves on the boards of companies, charities and universities. She chairs Artfinder and is a non-executive member of Cambridge University (Finance Board), Cambridge Assessment, Cambridge University Press and NESTA Investments. She also serves on the Advisory Board of Linkedin.com.
As an angel investor, she works with entrepreneurs to solve problems that matter and specialises in consumer internet, information services and education. She has made angel investments in more than 40 companies and holds investments in 2 venture capital firms. She was voted by TechCrunch as the best CEO mentor / advisor in Europe in Nov 2010. In May 2011, she was voted by Wired magazine as one the top 25 'most influential people in the wired world', and one of the top ten most influential investors and women.
What Can Situated Learning Theory (Wikipedia) Tell Us About Leading to Develop Organizational Learning Capabilities for Entrepreneurial Performance? Lessons from a Knowledge-Intensive Small Firm
Special Issue: A Global Perspective on HRM
Volume 54, Issue 6, pages 859–873, November/December 2012
Although the role of strategic leadership in developing organizational learning capabilities has been examined to a certain extent, the specific behaviors and mechanisms through which these capabilities are developed have not been adequately understood. Paucity of research in this direction is even more conspicuous in a small firm/entrepreneurship context, which has been linked to innovation, economic growth, and employment generation. Reporting on an ethnographic study of a knowledge-intensive, growth-oriented small firm, this article addresses this gap in the literature by integrating strategic leadership and organizational learning theory in an entrepreneurship context. In this undertaking, situated learning theory is used as the major analytical lens, to shed light on how strategic leadership can build organizational learning capabilities that underpin entrepreneurial performance in small firms. Finally, implications for situated learning theory as an organizational learning perspective and leadership practice in an entrepreneurship context are submitted. © 2012 Wiley Periodicals, Inc.
Presentation by Roberto Rigobon of "The Billion Prices Project" (PDF, 14 pages) December 2012
The Billion Prices Project (BPP), a project started by MIT Sloan School of Management professors Alberto Cavallo and Roberto Rigobon, which aggregates price information from multitude of online retailers around the world and give realtime inflation predictions.
BPP monitored daily price fluctuations of ~5 million items sold by ~300 online retailers in more than 70 countries.
Humans are capable of incredible innovation. Today we can land a rover on Mars, take a class without stepping into a classroom...
are 600,000 new malaria cases daily worldwide. The gold standard for
estimating the parasite burden and the corresponding severity of the
disease consists in manually counting the number of parasites in blood
smears through a microscope, a process that can take more than 20
minutes of an expert microscopist’s time.
Objective: This research tests the feasibility of a crowdsourced approach to malaria image analysis. In particular, we investigated whether anonymous volunteers with no prior experience would be able to count malaria parasites in digitized images of thick blood smears by playing a Web-based game...
Results: Over 1 month, anonymous players
from 95 countries played more than 12,000 games and generated a database
of more than 270,000 clicks on the test images. Results revealed that
combining 22 games from nonexpert players achieved a parasite counting
accuracy higher than 99%. This performance could be obtained also by
combining 13 games from players trained for 1 minute. Exhaustive
computations measured the parasite counting accuracy for all players as a
function of the number of games considered and the experience of the
players. In addition, we propose a mathematical equation that accurately
models the collective parasite counting performance.
Conclusions: This research validates the online gaming approach for crowdsourced counting of malaria parasites in images of thick blood films.
Crowdsourcing Malaria Parasite Quantification:, An Online Game for Analyzing Images of Infected Thick Blood Smears, Luengo-Oroz MA, Arranz A, Frean J, J Med Internet Res 2012;14(6):e167, URL: http://www.jmir.org/2012/6/e167/
Miguel Angel Luengo-Oroz, PhD, Biomedical Image Technologies group
DIE, ETSI Telecomunicación, Univ Politécnica de Madrid, CEI Moncloa UPM-UCM
The entrepreneur Asier Arranz is chief developer.
The multidisciplinary team is supported by Jacobo Gómez (design), Enrique Mendoza (web and database), Anoush Tatevossian & Natalia Rodriguez & Maria Fernandez (communications) and a fantastic team of advisors and supporters around the globe (Maria Luengo, Antonio Blanco, Javier Cepa, Jose Luis Rubio, Nati Luengo and Cesar Martin). Game soundtrack by Simón Garcia "A Night in Compostela (Para 6 contrabajos)", album Intersecciones (Escuela de Musica Creativa).
Top MBA Programs by Specialty: Entrepreneurship
|4.||UC Berkeley (Haas)||5.61|
|6.||Carnegie Mellon (Tepper)||5.58|
|9.||IE Business School||5.53|
DeansTalk Nov 11, 2011. MIT Technology Review honors 35 innovators under 35 and 10 from Spain
Clean tech is the topic discussed between Steve Perricone, CEO of waste management and energy company BioFuelBox, and one of his investors, DFJ veteran VC Jennifer Scott Fonstad. In addition to discussing the company's technology, structure, and applications, they also expound on current stimulus dollars for alternative energy systems.
Mohr Davidow Ventures partner Erik Straser offers insight on the unfolding sector of new energy technologies, and discusses how it will be affected by an economy in credit crisis. He unveils the market's high level of industrial innovation, and offers students of entrepreneurship sound advice on finding the next crest in grand socioeconomic opportunity.
Retired serial entrepreneur Steve Blank interviews MissionPoint Capital co-founder Jesse Fink. The two discuss the manifold investment opportunities in alternative energies and environmental conservation.
Larry Bawden is a co-founder of Jadoo Power, an innovative supplier of fuel cells, and Q1 Nanosytems, a next-generation photo-voltaics provider. Bawden addresses the new landscape in technology and energy and notes the pivotal role of newer technologies in the global economy. He talks about the four fundamental planetary crises - Global Warming, Peak Oil, Population Peak and Resource Depletion that are driving changes in world. Bawden also acknowledges the rise of third generation technology and the fundamental shifts in business that it has created. He believes that these changes have created a favorable environment to launch new ventures.
RIGA - “Failure is the mother of success,” says Bert Twaalfhoven in
explaining the motor for becoming a successful entrepreneurship today.
“I have [built] 54 companies, of which 16 were failures. I lost a total
of 55 million dollars, and here I am (…); I understood what I did wrong
and then I tried to get better and fix my mistakes,” he said.
Twaalfhoven was one of the lecturers invited to the High Impact Speaker series event held at Riga Business School in October.
Twaalfhoven is a 45-year career entrepreneur who has dedicated his life to learning, and this has carried him through 54 ventures. It has also given him insight into how entrepreneurship grows and dies. The best point offered by Twaalfhoven is undoubtfully how Europe can progressively emerge in the field of entrepreneurship to adapt itself for the next economic changes coming worldwide.
His extensive experience in the aerospace industry gave him the means to found the European Forum for Entrepreneurship Research (EFER) in 1987, to promote entrepreneurship across Europe, especially through entrepreneurship education. Twaalfhoven’s educational system is now comprised of 456 professors from 183 institutions in 43 European countries. This includes the EFER’s successful “Teach-the-Teachers” program at Harvard Business School and Cambridge.“Entrepreneurship can be engaged in by anyone. You do not have to be an expert to be an entrepreneur,” says Twaalfhoven (Entrepreneur for the World 2009 WEF)...
...Nearly two decades later, that sense of urgency and a strong belief in pursuing work that one loves has led her to a leadership role in the Arab world's entrepreneurial landscape, as she aims to nurture innovative social enterprises through her firm, Baraka Ventures.
Today we are announcing the biggest entrepreneurial program ever launched – Startup Weekend Next. A partnership of Startup Weekend, Startup America, TechStars and Udacity, Startup Weekend Next brings four weeks of amazing hands-on training learning to build your startup to cities around the world. Our goal– to inspire, educate and empower hundred’s of thousands of entrepreneurs and help create 10,000 startups.
The Lean LaunchPad Class
You may have read my previous posts about the Lean LaunchPad entrepreneurship class. The class teaches founders how to dramatically reduce their failure rate through the combination of business model design, customer development and agile development using the Startup Owners Manual. Just a crazy idea two years ago, the class is now taught at Stanford, Berkeley, Columbia, Caltech, Princeton and for the National Science Foundation at the University of Michigan and Georgia Tech.
As Chairman of IE’s International Center for Entrepreneurial Management, among other roles, he is focused on fostering the entrepreneurial spirit and creating new business and social projects, as well as promoting women-led entrepreneurship.
"How Silicon Valley’s Glow Shines Beyond Its Borders", Young Entrepreneur, November 15, 2012
GENIAL VIDEO PARA LEVANTAR EL ANIMO DE ESPAÑA EN LA CRISIS youtu.be/XUFMxmIoFRc— IEntrepreneur (@IEentrepreneur) November 12, 2012
The Venture Days are IE Business School´s international investor forums where the school´s best start-up projects are showcased to an audience of local and international investors.
Kathleen Eisenhardt is widely known for her work on strategy, strategic decision making, and innovation in rapidly changing and highly competitive markets. She has also pioneered in building theories from case study research. Even though only a portion of Eisenhardt’s work can be directly and explicitly labeled as ‘entrepreneurship’ research, she has made significant contributions to this relatively new and rapidly evolving field. Her main contribution to the entrepreneurship field is her work on ‘corporate entrepreneurship’ – how existing organizations can remain innovative, including through new venture creation.
Eisenhardt’s work links the domain of entrepreneurship research to the fields of dynamic capabilities, strategy and decision making processes, and organization theory and design. She has examined how established organizations can introduce a continuous stream of novel products and services through better new product development processes as well as more efficient ways of organizing their activities. She has also looked at how ‘strategic decisions’ are taken, especially with respect to how new ventures are formed and how they forge linkages with competitors, how they grow and survive through innovation as well as by shaping the rules of competition.
In sum, Kathleen Eisenhardt has made substantial, original and influential contributions both theoretically and empirically that establish entrepreneurship research more solidly in both the management and the economics literature.
See a short summary from the 2012 Award Ceremony.
Author Josh Lerner (Harvard)
... winner of the Swedish government’s 2010 Global Entrepreneurship Research Award... ... ... ...
Co-Winner of a 2010 Gold Medal in the Axiom Business Book Awards in the category of Entrepreneurship.
Winner of the 2009 PROSE Award for Excellence - Business, Finance & Management
Silicon Valley, Singapore, Tel Aviv--the global hubs of entrepreneurial activity--all bear the marks of government investment. Yet, for every public intervention that spurs entrepreneurial activity, there are many failed efforts that waste untold billions in taxpayer dollars. When has governmental sponsorship succeeded in boosting growth, and when has it fallen terribly short? Should the government be involved in such undertakings at all? Boulevard of Broken Dreams is the first extensive look at the ways governments have supported entrepreneurs and venture capitalists across decades and continents. Josh Lerner, one of the foremost experts in the field, provides valuable insights into why some public initiatives work while others are hobbled by pitfalls, and he offers suggestions for how public ventures should be implemented in the future.
Discussing the complex history of Silicon Valley and other pioneering centers of venture capital, Lerner uncovers the extent of government influence in prompting growth. He examines the public strategies used to advance new ventures, points to the challenges of these endeavors, and reveals the common flaws undermining far too many programs--poor design, a lack of understanding for the entrepreneurial process, and implementation problems. Lerner explains why governments cannot dictate how venture markets evolve, and why they must balance their positions as catalysts with an awareness of their limited ability to stimulate the entrepreneurial sector.
As governments worldwide seek to spur economic growth in ever more aggressive ways, Boulevard of Broken Dreams offers an important caution. The book argues for a careful approach to government support of entrepreneurial activities, so that the mistakes of earlier efforts are not repeated.
Josh Lerner is the Jacob H. Schiff Professor of Investment Banking at Harvard Business School, with a joint appointment in finance and entrepreneurial management. He is the coauthor of Innovation and Its Discontents (Princeton), The Venture Capital Cycle, and other books.
"[S]uperb."--Edward L. Glaeser, New York Times' Economix blog
"Lots of governments would like to promote high-tech entrepreneurship and venture capital in their regions--but many don't know how to do it effectively. In his new book Boulevard of Broken Dreams, Josh Lerner . . . examines which types of policies to promote entrepreneurship and venture capital tend to work--and which don't. Lerner supports his carefully researched analysis with numerous examples chosen from around the globe."--MIT Sloan Management Review
Busuu – the language learning community offering largely free audio-visual online courses – has been boostrapping away relentlessly for a few years and only last year raised an Angel round from FON-founder and serial entrepreneur Martin Varsavsky. So while US-based Livemocha spent $14 million in VC getting to around 12 million members, Busuu stuck to its knitting with its free to access platform. It now claims to have more than 25 million users in over 200 countries and says it’s growing at a rate of 40,000 new members per day. That strategy appears to have paid off, as it’s now closed a Series A investment round of €3.5 million from PROfounders Capital and private investors. PROfounders Capital investment partner Brent Hoberman – lastminute.com co-founder and serial entrepreneur – joins the start-up’s board of advisers...
putting research into policy and practice
isbe.org.uk/ISBE2012 (35th conference)
The world of entrepreneurial finance is changing rapidly; we are at a tipping point that will make what seems like a vibrant part of our global economy today seem small in one year’s hindsight.
Whether you are a service provider, social entrepreneur, angel investor, venture capitalist, or one of the millions of people ready to become a small-scale start up financier, it is time to pay attention.
Estimates for annual crowdfunding transactions go as high as $500 billion annually compared to 2011’s $1.5 billion (anticipated to be $3 billion in 2012). If crowdfunding even begins to approach that scale, it will completely change the landscape for start-up financing.
...cites a Monitor study suggesting that crowdfunding will grow to $500 billion annually
(KANSAS CITY, Mo.), Oct. 2, 2012 — A new Kauffman Foundation study finds that high-tech, immigrant-founded startups — a critical source of fuel for the U.S. economy — has stagnated and is on the verge of decline.
"America's New Immigrant Entrepreneurs: Then and Now" shows that the proportion of immigrant-founded companies nationwide has slipped from 25.3 percent to 24.3 percent since 2005. The drop is even more pronounced in Silicon Valley, where the percentage of immigrant-founded startups declined from 52.4 percent to 43.9 percent...
The implications of the research findings, conducted by Vivek Wadhwa, director of research at the Center for Entrepreneurship and Research Commercialization at the Pratt School of Engineering, Duke University; AnnaLee Saxenian, dean and professor at the Berkeley School of Information; and F. Daniel Siciliano, professor of the Practice of Law and faculty director, Rock Center for Corporate Governance; are the subject of a bookbeing released today by Wadhwa.
The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent, (Amazon) draws on the research to show that the United States is in the midst of a historically unprecedented halt in high-growth, immigrant-founded startups.
"The U.S. risks losing a key growth engine just when the economy needs job creators more than ever," said Wadhwa. "The U.S. can reverse these trends with changes in policies and opportunities, if it acts swiftly. It is imperative that we create a startup visa for these entrepreneurs and expand the number of green cards for skilled foreigners to work in these startups. Many immigrants would gladly remain in the United States to start and grow companies that will lead to jobs."
With funding from the Kauffman Foundation, Wadhwa has launched a website — ImmigrantExodus.com — as a resource for journalists and a voice for immigrant entrepreneurs.From the 107,819 engineering and technology companies founded in the last six years, the study examined a random sample of 1,882 companies in a nationwide survey. Of those companies, 458 had at least one foreign-born founder.
Civic startups - Code for America Accelerator is looking for you codeforamerica.org/accelerator/— Mårten Mickos (@martenmickos) October 13, 2012
Restart, Italia!: the Italian plan to help startups approved last week by the government goo.gl/GQfym (PDF, 8 pages)
Rome, 24th, September 2012. www.sviluppoeconomico.gov.itThe Report Restart, Italia!, drawn up by the Task Force established by the Minister of Economic Development Corrado Passera, says that...