Reviving Entrepreneurship

America’s economic culture has traditionally been distinguished by a willingness to pursue opportunities; a parallel willingness to adopt new products and services; social, legal, and economic tolerance for failure; and the ability to efficiently redeploy people and money. All this has led to a highly evolved system for allocating human and financial capital to entrepreneurial ventures, which has brought the U.S. enormous advantage.

But this entrepreneurial engine is showing serious signs of weakness. Considerably fewer new businesses are formed in the United States today than in the past, creating fewer new jobs. Venture capital funding has contracted in both amount and breadth, and initial public offerings of small-cap companies have sharply declined. In other markets, including China and Brazil, those indicators are moving in the opposite direction.

As U.S. policy makers wake up to the need to reinvigorate entrepreneurial ventures, they must recognize entrepreneurship as a process, not an act. Their decisions change the climate for new enterprises at each stage of that process, sometimes dramatically—whether or not those decisions are made with entrepreneurship in mind.

Spot an Opportunity

Basic and Translational Science
U.S. government funding of basic research has paid off handsomely in the past. Private capital has been able to leverage federally supported discoveries, allowing them to be translated into valuable commercial applications. But the level and nature of government research funding are problematic today. As resources tighten up, decisions about what to fund grow ever more conservative. Labs have difficulty obtaining capital for the projects with the greatest potential societal payback, because those projects tend to be highly speculative and to challenge conventional wisdom. The U.S. needs to find a way to facilitate the right kinds of “risky” research.

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by Josh Lerner and William Sahlman http://hbr.org/2012/03/reviving-entrepreneurship/ar/
Photograph: Topical Press
Agency/Stringer/Getty Images: Orville Wright lands a glider, 1911
America’s economic culture has traditionally been distinguished by a willingness to pursue opportunities; a parallel willingness to adopt new products and services; social, legal, and economic tolerance for failure; and the ability to efficiently redeploy people and money. All this has led to a highly evolved system for allocating human and financial capital to entrepreneurial ventures, which has brought the U.S. enormous advantage.

But this entrepreneurial engine is showing serious signs of weakness. Considerably fewer new businesses are formed in the United States today than in the past, creating fewer new jobs. Venture capital funding has contracted in both amount and breadth, and initial public offerings of small-cap companies have sharply declined. In other markets, including China and Brazil, those indicators are moving in the opposite direction.

As U.S. policy makers wake up to the need to reinvigorate entrepreneurial ventures, they must recognize entrepreneurship as a process, not an act. Their decisions change the climate for new enterprises at each stage of that process, sometimes dramatically—whether or not those decisions are made with entrepreneurship in mind.

Spot an Opportunity

Basic and Translational Science
U.S. government funding of basic research has paid off handsomely in the past. Private capital has been able to leverage federally supported discoveries, allowing them to be translated into valuable commercial applications. But the level and nature of government research funding are problematic today. As resources tighten up, decisions about what to fund grow ever more conservative. Labs have difficulty obtaining capital for the projects with the greatest potential societal payback, because those projects tend to be highly speculative and to challenge conventional wisdom. The U.S. needs to find a way to facilitate the right kinds of “risky” research. Leer más “Reviving Entrepreneurship”

Personality and Entrepreneurship: Why are some people more entrepreneurial than others, and why should you care?

This is why you should care about entrepreneurship, and why that implies caring about personality: Personality rules the world, and the more power a person has, the more important is personality. Social psychology has shown us how our lives are affected by others, but personality psychology explains why some people are much more likely than others to affect our lives. Entrepreneurship is just another process by which this influence occurs; it is (like leadership) the natural consequence of differences in personality and yet another proof that the personality of some is much more influential than others’.

So, how entrepreneurial are you? To find out whether you may be the Richard Branson or Oprah Winfrey of tomorrow, or whether you should just stick to a 9-to-5 job, just take our test!


(…) http://www.psychologytoday.com

Mr. Personality

A personality expert talks character and destiny.
by Tomas Chamorro-Premuzic, Ph.D.
Do you have what it takes to be the next Richard Branson?

So far, psychologists have failed to explain why some people are more entrepreneurial than others, but the answer is straightforward: personality. Indeed, individual differences in creativity, ambition, and risk-taking explain why some people have much more potential for entrepreneurship than others, and valid personality measures can help us identify who the entrepreneurs of tomorrow will be. Of course, there are also socio-political factors contributing to entrepreneurship, which is why it is a lot harder to be entrepreneurial in North than in South Korea, or why unemployment may actually foster entrepreneurship. Still, in any country at any given point of time there will be more and less entrepreneurial people and a country’s economic and social development is much more dependent on the former. Leer más “Personality and Entrepreneurship: Why are some people more entrepreneurial than others, and why should you care?”

Girls in Tech Debate: A Publicity Hoax?

Last week a big debate began circling the tech community over women and entrepreneurship. Some said it was still a man’s world while others pointed the finger back at women for not having more female risk-takers. This all a few days after an article titled Is There Anything Good About Men, resurfaced the interwebs, then Michael Arrington in this article proclaimed how TechCrunch goes above and beyond to find women in tech “…we do spend an extraordinary amount of time finding those qualified women and asking them to speak.” It was also noted that half executive staff were woman. The conclusion of the article went something like: we try to find women in tech, there’s tons of money for them, female entrepreneurs just don’t exist. Several times it was mentioned how TechCrunch loves to cover women founded companies but the topic was left open “…And when you do start your company, we’ll cover it. Promise.”


Posted by Ellie Cachette

Last week a big debate began circling the tech community over women and entrepreneurship. Some said it was still a man’s world while others pointed the finger back at women for not having more female risk-takers. This all a few days after an article titled Is There Anything Good About Men, resurfaced the interwebs, then Michael Arrington in this article proclaimed how TechCrunch goes above and beyond to find women in tech “…we do spend an extraordinary amount of time finding those qualified women and asking them to speak.” It was also noted that half executive staff were woman.  The conclusion of the article went something like: we try to find women in tech, there’s tons of money for them, female entrepreneurs just don’t exist.  Several times it was mentioned how TechCrunch loves to cover women founded companies but the topic was left open “…And when you do start your company, we’ll cover it.  Promise.

Leer más “Girls in Tech Debate: A Publicity Hoax?”

A Flexible Approach to Funding Entrepreneurs


by Matt Bannick

I spent eight years at eBay learning how businesses can create opportunities for people and benefit society. eBay supports millions of Internet entrepreneurs and $60 billion worth of commerce. But in my time as president of eBay International, I also realized that the firm’s social efforts wouldn’t necessarily reach poor people in less-connected parts of the world, because the expected financial returns in these geographies didn’t warrant expansion on our part.

This was much on my mind when I joined Omidyar Network three years ago to oversee its philanthropic strategy. The bottom line at ON is societal value. We believe in “flexible capital” — that is, we invest financial and human resources in both for-profit and nonprofit ventures. It’s not an either-or decision for us; we believe using both grants and for-profit investments can be powerfully complementary. Leer más “A Flexible Approach to Funding Entrepreneurs”

Some great readings this week! Really!!

por jabaldaia

Enjoy it!

What Is A Social Enterprise? There Is Still A Lot Of Debate? By Idris Mootee

Social enterprise is a hot idea. Being asocial entrepreneurship these days is way cooler than being a iBanker. I think we are only seeing the beginning of a long term trend, people realize it takes a new kind of enterprise to solve the world’s problem. And NGOs are not the solutions.

Innovation Failure & Ownership: What happens when we own our successes and abdicate our failures by Andrew (DrewCM)

Innovation is a high-stakes endeavor. Much may be risked on the hoped-for chance of reward. The success or failure of a single innovation may win or lose reputations and careers. In some organizations, the retribution for failure may be swift and harsh, while the rewards for success may be just as fickle

Is Innovation a Process or an Outcome? By Karen Christensen via Ralph Ohr

You believe that everything we know and desire is the outcome of a single discovery that was made 1.9 million years ago. Please explain.


por jabaldaia

Enjoy it!

What Is A Social Enterprise? There Is Still A Lot Of Debate? By Idris Mootee

Social enterprise is a hot idea. Being asocial entrepreneurship these days is way cooler than being a iBanker. I think we are only seeing the beginning of a long term trend, people realize it takes a new kind of enterprise to solve the world’s problem. And NGOs are not the solutions.

Innovation Failure & Ownership: What happens when we own our successes and abdicate our failures by Andrew (DrewCM)

Innovation is a high-stakes endeavor. Much may be risked on the hoped-for chance of reward. The success or failure of a single innovation may win or lose reputations and careers. In some organizations, the retribution for failure may be swift and harsh, while the rewards for success may be just as fickle

Is Innovation a Process or an Outcome? By Karen Christensen via Ralph Ohr

You believe that everything we know and desire is the outcome of a single discovery that was made 1.9 million years ago. Please explain. Leer más “Some great readings this week! Really!!”

Robin Low: A Guide To Entrepreneurship


Got my final results yesterday and honestly, I wasn’t too please with the  overall scores. Sure, I could have done better if I put in more effort but teenage angst got the better of me. In light of the results, I started thinking about my future career. Would I be happier working for someone else or pursue something that’s lingering at the back of my mind; being my own boss.

There are a couple of fantastic people that chose the latter such as Pat Law. She recently resigned from Ogilvy and moved forward to pursue the entrepreneurial side of her by setting up a social influence studio called GOODSTUPH. I got to say that takes a lot of courage to leave your own comfort zone.

Recently, I picked up a tweet from Robin Low where he announced that he has an e-book on Slideshare on the mindset of entrepreneurship. The book is a comprehensive guide for aspiring entrepreneurs to learn from. Here’s a quote from his book describing what entrepreneurship is:

Entrepreneurship is taking the responsibility and risk of starting a new business in response to identified opportunities. An entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation or business.

Hopefully, all of you learned something from his e-book, I sure did. I’m looking forward to the lessons learnt from all of you after reading the e-book.

Entrepreneurship Mindset

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