Venture Funding for e

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The Value of a
Venture
You, Investors and
Stakeholders
Global Innovation Management
Entrepreneurs
• "one who undertakes innovations, finance and business acumen in
an effort to transform innovations into economic goods".
– This may result in new organizations or may be part of revitalizing
mature organizations in response to a perceived opportunity
• The most obvious form of entrepreneurship is that of starting new
businesses
• in recent years, the term has been extended to include social and
political forms of entrepreneurial activity
Global Innovation Management
Entrepreneurs
• By the time they reach their retirement years,
half of all working men in the United States
probably have a period of self-employment of
one or more years;
– one in four may have engaged in self-employment for
six or more years
– Participating in a new business creation is a common
activity among U.S. workers over the course of their
careers
Global Innovation Management
Entrepreneurs
• The entrepreneur is widely regarded as an integral
player in the business culture of American life
– an engine for job creation and economic growth
• More than a hundred scholars around the world
track entrepreneurial activity, policy and social
influences as part of the Global Entrepreneurship
Monitor and its associated reports.
Global Innovation Management
Entrepreneurship = taking risk
Frank H. Knight (1921) and Peter Drucker (1970)
• Risk, which is measurable statistically
• Ambiguity, which is hard to measure statistically
• True Uncertainty which is impossible to estimate or
predict statistically
True State of World
Perceptions
Have
Don't
Have
Observable
Known knowns
Unknown knowns
Hidden
Known unknowns
Unknown unknowns
Global Innovation Management
What is New (and Risky) in eMarkets?
http://company.zynga.com/
http://www.blurb.com/
http://www.amazon.com/
http://store.apple.com/
http://twitter.com/
http://www.android.com/
http://www2.atmel.com/
http://www.rovio.com
•
•
•
•
•
•
•
•
https://www.onekingslane.com/
https://www.tumblr.com/
http://wikileaks.org/
https://www.lendingclub.com/ &
http://www.prosper.com/
https://www.salesforce.com/
http://www.lifetechnologies.com/
http://www.roku.com/
http://www.xbox.com/en-US/live
Global Innovation Management
Palmisano’s
guiding
framework
• Four questions:
• “Why would someone spend their money with you —
so what is unique about you?”
• “Why would somebody work for you?”
• “Why would society allow you to operate in their
defined geography — their country?”
• “Why would somebody invest their money with you?”
Global Innovation Management
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