From the June 19, 2013 mailing – it seems that great changes are in the making and they do not come via Wall Street – it is rather new High Tech thinking that will lead future growth.
Also – for now the important openings are in Health Care – Energy is not yet in the forefront as Washington has seeded mainly uncertainty.
You find Angels where the money is – this includes now Russia:
Over a year ago, Union Square Ventures partner Fred Wilson said something that sounded a bit odd: He didn’t believe the venture capitalist business was sustainable in its current iteration.
At the time, it seemed like a reaction to then recent events. The Kaufman Foundation had just issued a report detailing the poor returns that the venture capital business has delivered for well over a decade. In addition, the rise of things like Kickstarter, angel investors, and accelerator programs were coming to the forefront.
We publish a lot of advice from executives and commencement speakers, but due to survivor bias, those might not always be the best tips. It’s also worth hearing the advice from parents, grandparents, and everyone in between that’s stuck with regular people and had an impact on their lives
A recent Reddit thread asked users “what’s the absolute best advice you’ve ever been given?” We’ve collected the very best answers.
I was speaking at an international conference on angel capital recently, and the panelists listed off the number of companies they or their angel groups were in.
It was a fantastic number: 300-plus. This showed me that the angel movement is really picking up steam. What was truly impressive, though, was that three of the panelists were from what would politely be referred to as “non-startup hotbeds.” I remember a time in the late 90’s when said panelists had done maybe 30 deals. And the mandatory “Valley guy” in the group did three-quarters of those deals.
What makes a great startup incubator? Job and revenue creation? Smart mentors? Exits? | MedCity News
A successful university business incubator has lots of engaged mentors, is run like a startup and generates buzz and benefits for its local business community.
Those are some of the high-level findings of a new venture out of Sweden that’s trying to create an objective way to evaluate business incubators across the world.
The team behind the University Business Incubator Index set out to find the top university incubators in the world, discover what makes them successful, and learn where others are falling short. Over the past year, they collected data on 150 university incubators in the U.S., Europe, Asia and Australia. They interviewed incubator managers, entrepreneurs and investors, and came up with about 60 independent indicators of success. Then they scored each incubator, adjusting scores for those in the most favorable and unfavorable locations.
Spending a few days in Moscow last week where I spoke at the G20 Young Entrepreneur Alliance Summit, I found a dynamic and outward facing city with startup communities as vibrant as any in Europe. I check on things in Russia on the eve of this Thursday’s St. Petersburg International Economic Forum and on the heels of an announcement yesterday that Russia will convene the next Global Entrepreneurship Congress (March 17-20, 2014) only a few yards from the entrance to the Kremlin in the historic Moscow Manege.
Like so many of you, yesterday I called my father honoring that wonderful tradition of stopping to take the time to say thank you to our dad. As I arrive home from Russia, I am reminded that for him the Soviet Union was a Cold War enemy. Had he been with me last week, how he would have been surprised to see clean renovated historical landmark buildings side by side with modern glass skyscrapers, a thriving market-based economy and local and national government leaders hosting entrepreneurs and international business leaders from all the G20 countries.
Advanced energy development and deployment is supporting new industries throughout the country and serves as a valuable source of jobs and competitive differentiation. Given this reality, it becomes increasingly important for regions to implement strategies that harness the full potential of their advanced energy industries.
So, what are some strategies that help a region access its full advanced energy potential?
While we were talking with Phil Libin, the Evernote CEO told us that in its quest to become a hundred-year startup, they’re constantly pruning away any corporate culture handed down to them. Vacation policy quickly got cut.
Evernote’s not alone: unlimited vacation is part of the code for workplace happiness at social coding startup GitHub, and Netflix CEO Reed Hastings once said that the unlimited vacation policy is part of their “freedom and responsibility culture.”
What does the future of medical education look like? These 5 medical schools offer some clues | MedCity News
Medical schools have been preparing for the changes health care reform is bringing. Many have framed their education around iPads and other tablets and are encouraging more of their students to focus on primary care as physician shortages are expected to worsen. From accelerated programs to a technology focus, the description of some of the innovative approaches proposed to obtain some of the $11 million in grants being offered by the American Medical Association over the next five years offers a window to their thinking about health care reform.
Combined primary care degree Brown University’s Warren Alpert Medical School is setting up a dual degree in primary care and population health. “The goal is to educate a new type of physician with a primary care background,” its proposal said.
Savara Pharmaceuticals needed several million dollars to take its inhalable drug for troublesome infections in cystic fibrosis patients through Phase 2 clinical trials. So CEO Rob Neville, naturally, began talking with venture capitalists. But in the end, he didn’t end up needing any of their money.
Over the course of about a year, Savara raised a $16 million Series B round – in two tranches – led by a quartet of angel groups from central Texas to southern California.
Hard to understand, slow to exit and more than enough risk to go around.
Not many investors are brave and smart enough to fund startups working to get new pharmaceuticals, medical devices and therapeutics on the market. To highlight this breed of investors, and to give healthcare entrepreneurs a way to find them, we have compiled a list of venture capital firms with a track record of healthcare investing.
You can scan the entire list to find a potential investor in your city, or you can search by investment focus.
As groups of high-net-worth individuals continue to band together in the form of angel investment networks and funds, they’re creating new opportunities for funding for mid-stage startups. But to some entrepreneurs, they’re also starting to look an awful lot like VCs.
There are about 350 angel investing groups in the U.S. today, according to Marianne Hudson,executive director of the Angel Capital Association. Although most of the U.S.’s more than 300,000 angel investors still work as individuals, the influence of their networking is growing. The median angel round size in 2012 was somewhere around $600,000, according to the 2012 Halo Report, up from $500,000 in 2010.
“Just as noise is meaningless without quiet,” Fabrica CEO Dan Hill once observed, “connectivity becomes meaningless when pervasive, when it is without a few ‘sanctuary spaces’ as contrast.”
For many, that contrast is most available in the early hours: management thinker Kevin Meyer does yoga after he gets up, Kayak cofounder Paul English makes sure to meditate, novelist Somerset Maugham thought on the first two sentences he would write while soaking in the bath tub.
Earlier this year the International Service for the Acquisition of Agri-biotech Applications (ISAAA) reported that for the first time the developing world has taken over responsibility for producing over half (52%) the commercially available Genetically Modified (GM) crops worldwide. While the majority of these seeds can be traced to Western companies, the current state of native GM research in both the African and Asia-Pacific regions are both growing and have noticeable similarities; in both areas only a handful of countries serve as the growth poles for a region with scattered levels of GM policies and research institutions.
Citibank Small Business Pulse® Reveals Three-Year High in Owners’ View of Business Conditions – pymnts.com
More small business owners say business conditions are good or excellent today than at any point in years, according to the latest Citibank® Small Business Pulse released today. Nearly half of small business owners (48%) rate conditions as good or excellent, up from 43% in May 2012 and twice the rate three years ago (24%). Current confidence also represents a rebound from August 2012, when the fiscal cliff caused uncertainty.
Meanwhile, those that say conditions are poor dropped to 14%, the lowest level since the Citibank® Small Business Pulse began in 2010. Half of small business owners say they expect annual sales to grow in 2013, with one-third saying they will grow by more than 10%. In addition, more than half (54%) expect an even stronger 2014.
“The rise in those that have a favorable view of current business conditions is unmistakable,” said Jerome Byers, head of Citibank Small Business. “While about half still fault sales for preventing them from achieving business goals, just as many business owners project improved sales this year and next. In recent years, as conditions have improved and small businesses have looked to grow, we have sought to be there for them – our small business lending has grown annually, from $4.5 billion in 2009 to $9.6 billion last year.”
Mobile devices are edging closer to fulfilling their long-delayed promise as digital wallets.
Consumers are beginning to see the advantage of channeling offline payments through their mobile devices, rather than carrying around clunky coins and cash — even debit and credit cards. Consumers are primed to go wallet-free and begin paying for goods and services via their mobile devices, and as a result, mobile payments are set to explode.
A group of scientists, business leaders and public figures from around the world met this past weekend to discuss evolution, but this wasn’t the same old discussion about where we came from, but about where we can go from here, and how technology could make us immortal by 2035.
The 2045 Initiative was started in 2011 by Russian entrepreneur Dmitry Itskov, with the goal of engineering the future of human evolution. The plan is to first create life-like robotic copies of our bodies in the next 2 to 7 years, which we would control and interact with the world through, similar to the movie Surrogates. From there, in roughly 5-to-10-year steps, the initiative would work towards transplanting our brains into robot bodies by 2025, and then by 2035, do away with the flesh entirely by allowing us to transfer our personality into a robot ‘avatar’. The final step in the plan, scheduled for 2045, would be to divorce ourselves completely from the body, and just have our robotic minds controlling holograms to interact with the world.
A bill to restart the Maine Seed Capital Tax Credit program rests now at the state’s special appropriation table, where lawmakers will decide if the investment-encouraging program will continue. The Bangor Daily News reported Tim Agnew, a principal at Masthead Venture Partners in Portland, told the paper that the bill’s placement at the special appropriation table is not a good sign for continuation of the program, which supporters say has encouraged investment in Maine companies. The program hit its $30 million cap earlier this year. It allowed state income tax credits of up to 60% of their cash equity to eligible Maine businesses, spread over four years.
A recent study by Andy Cosh and Joanne Jin Zhang of the UK Innovation Research centre set out to examine how companies were using open innovation. The report makes a thought-provoking comparison of the innovation styles of companies. It indicates that those companies that are active in open innovation in both giving and receiving ideas achieve higher rates of innovation and of revenue growth.
A survey was sent to 12,000 UK companies and 1202 responded. The authors categorised the respondents as falling into one of three categories which had similar behaviours and practices:
Ever since General Electric GE +1.51% built the first industrial lab in 1900, research and development has been a highly secretive affair. Security protocols have been regarded almost important as scientific ones to stay ahead of the competition.
More recently, Apple AAPL +0.08%, arguably the world’s most innovative company, has become renowned for keeping its cards close to the vest and even “don’t be evil” Google GOOG +1.26% has launched its own super-secret research center.
You may have seen little squares of Tcho chocolate in their brightly colored wrappers decorated with futuristic parabolas of gold and silver. They’re easily found: Starbucks has sold them; Whole Foods sells them now.
Those usually aren’t the stores you visit to track down handcrafted chocolate from bean-to-bar makers, the new wave of chocolate producers that find and blend the rarest and most richly flavored cacao beans. Artisans like Mast Brothers, in Brooklyn, promise that each batch of bars will be different; nothing will be blandly mass-produced. In a video on their website, the lavishly bearded Mast siblings extol the “inconsistency” of their chocolate. Inconsistency generally isn’t what gets you orders from Starbucks and Whole Foods.
There’s a massive amount available on the interwebs on how to improve the odds for success in new ventures. But almost nothing concrete is available on the care and feeding of your investors. You can do all of the Lean Startup experimentation you want, but we’re here to tell you that one of the the easiest and most underrated skills that a startup CEO needs is knowing how to keep your investors updated, excited and engaged.
The reason is: The CEO is the investor’s user interface into the business. It’s how investors see what’s going on, and in some minimal ways, interact with the business.
The performance of venture capital funds in the UK, important for new and early-stage businesses, is lagging further behind the US, according to research by Nesta, the innovation body. In a report published on Tuesday, the National Endowment for Science, Technology and the Arts said venture capital investment in the UK was $2.3bn in 2012 compared with $41bn in the US. Adjusted for the relative size of their economies, that meant UK venture capital was less than half the size of the US industry.
In business and in life, the most critical choices we make relate to people. Yet being a good judge of people is difficult. How do we get better at sizing up first impressions, at avoiding hiring mistakes, at correctly picking (and not missing) rising stars?
The easy thing to do is focus on extrinsic markers — academic scores, net worth, social status, job titles. Social media has allowed us to add new layers of extrinsic scoring: How many friends do they have on Facebook? Who do we know in common through LinkedIn? How many Twitter followers do they have?
In both C suites and boardrooms, discussions about business performance usually center on topics like market momentum, M&A opportunities, capital management, and productivity enhancements. While these factors are important, in my experience they are best leveraged when employees are engaged, aligned, and motivated to win.
In the course of leading six successful turnarounds and transformations at Schering-Plough, Pharmacia, Pharmacia and Upjohn, Wyeth, and two operating units within Novartis, I’ve learned that culture can be powerfully leveraged to enhance long-term success. Yet many executives don’t make culture a priority. It was this disconnect that prompted me to write my recent book, Reinvent: A Leader’s Playbook for Serial Success.
Entrepreneurship isn’t about selling things — it’s about finding innovative ways to improve people’s lives. Until recently, most people in business focused on products and services that would appeal to consumers, and this resulted in the creation of many great companies and a lot of jobs. But attitudes are changing. A new generation of entrepreneurs is using approaches from the commercial world and employing technology to tackle social and environmental problems — these areas used to be the exclusive territory of government agencies and charitable organizations.
The British Cabinet Office says that there are 70,000 social enterprises helping people, communities and the environment in this country alone. These businesses and organizations contributed more than 54.9 billion pounds to the economy in 2012 and they employ almost 1 million people, yet we have only scratched the surface.