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©2004 Vendevia Group LLC Riga, Latvia June 9, 2004 Guided Entrepreneurship Powering A Knowledge Economy Boris N. Reznik, Ph.D. Chairman, Vendevia Group.

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Presentation on theme: "©2004 Vendevia Group LLC Riga, Latvia June 9, 2004 Guided Entrepreneurship Powering A Knowledge Economy Boris N. Reznik, Ph.D. Chairman, Vendevia Group."— Presentation transcript:

1 ©2004 Vendevia Group LLC Riga, Latvia June 9, 2004 Guided Entrepreneurship Powering A Knowledge Economy Boris N. Reznik, Ph.D. Chairman, Vendevia Group Miami, Florida USA

2 ©2004 Vendevia Group LLC How Latvia Can Become A Worldwide Leader In The Commercialization Of Science & Technology The Lessons of History How Silicon Valley grew from a small agricultural region to the worldwide leader in the commercialization of science and technology. The Emergence of the Entrepreneur Why the entrepreneur is the real key to commercializing science and technology. Guided Entrepreneurship The most effective method for building an army of entrepreneurs in the least possible time. Guided Entrepreneurship Centres How and why they work to implement Guided Entrepreneurship programs. A GEC Case Study Creating the Latvian Legend Taking the first steps

3 ©2004 Vendevia Group LLC Imagine the Possibilities From Silicon Valley to The Latvian Legend How Latvia can become a worldwide leader in the commercialization of science and technology Silicon Valley Boston Corridor Research Triangle New Jersey Biogarden Bangalore India Latvia

4 ©2004 Vendevia Group LLC In The Beginning It Wasnt Always Called Silicon Valley Two great Universities (Stanford & UC Berkeley) with great scientists and great students Cultural reverence for science No real local markets for S&T Great potential business environment (Lots of Land, Low Taxes, Cheap Labor) Sunnyvale California c1955 The Bay Area Northern California Then came Sputnik followed by NASA The Age of MegaTech was born Huge Companies Making Huge Products For Huge Contracts

5 ©2004 Vendevia Group LLC Mid 1960s Teknekron Gives Birth To A New Paradigm To Create Entrepreneurs Apollo Versus Harvey Wagner ProductEntrepreneur Government Contracts Commercial Contracts Technology Centric Market Centric Selling Size Selling Capabilities Guidance CompetitionRecognition Rich Incentives The Foundations of the Entrepreneurial Factory

6 ©2004 Vendevia Group LLC The Major Elements of Market Centricity The market asks and the entrepreneur finds the science and answers Small and agile versus big and slow Market Solutions versus Products From the God of the $ to the Goal of the Contract Market Centricity How the Entrepreneurs Took On The MegaTech Giants - And won! Communications and IT Transportation RETNA DistributionFinancialInsurance

7 ©2004 Vendevia Group LLC Teknekron spin offs grow The new entrepreneurship becomes the legacy Teknekron Alumni defined entrepreneurship through the80s Building An Army of Entrepreneurs Teknekron and The Mushroom Effect Both TIBCO & TERA Went Public IBM Sun Microsystems Hewlett Packard AT&T Symbol Technologies Lucent Technologies. Boeing General Motors EDS Lockheed Martin Occidental Petroleum MCI CONSOL Energy. Litton

8 ©2004 Vendevia Group LLC Bridging the Gulf What Entrepreneurs Do And How They Do It The entrepreneur is a connector between the source of the technology and the users of the technology. No one buys technology for the sake of technology, they buy it to solve a problem or realize an opportunity. - H. Wagner Connector Requirements Client and market centric Entrepreneurially driven Mastery of running an entrepreneurial business Problem Solving Point Of View Desire Latvian EU Latvian Worldwide Markets Latvian Science & Technology Thats all fine and good, but How do you build an army of entrepreneurs?

9 ©2004 Vendevia Group LLC Guided Entrepreneurship Is Both Effective & Efficient The Lowest Cost Per Entrepreneur Developed All approaches are designed for a different purpose Guided Entrepreneurship creates the entrepreneurial soup and builds the critical mass required for an army Cost Per Entrepreneur Venture Fund Accelerator Incubator Guided Entrepreneurship Focuses on the financial deal Develops Companies Focuses on the technology Develops Product Focuses on the market Develops Entrepreneurs Number of Entrepreneurs Per Centre

10 ©2004 Vendevia Group LLC Guided Entrepreneur Centre A Look Inside and Outside The GEC supplies the basic infrastructure. But its the constant interaction that makes it run. Candidates - Entrepreneurs - Mentors - Technologists - Clients GEC

11 ©2004 Vendevia Group LLC Climbing The Stairs In The GEC A Competitive Approach To Progress Candidate Application made to join a specific GEC. Goal is to get selected. Spin Off The goal is to go public. Division Manager Is running a Division. Goal is to dominate market niche and spin off a company. Entrepreneur Has first signed contract in hand. Goals is to build team and make more sales to create a division. In Training Working on a full time basis in a GEC. Goal is to get out into the field, meet clients and land a contract. The Race To The Top

12 ©2004 Vendevia Group LLC Inside A Guided Entrepreneurial Centre From Candidate To Spin Off

13 ©2004 Vendevia Group LLC Creating Entrepreneurs How Guided Entrepreneurship Builds An Army of Entrepreneurs That Makes A Difference Driving World Wide Markets

14 ©2004 Vendevia Group LLC Weve done it in IT and are doing it in Biotech Thousands of jobs created along with and billions of of value The GEC - A Case Study Boris Reznik Founds ATC in 1985 Cisco Systems Oracle Arriba Equifax. Merisel Famous Footwear Light Signatures Symbol Technologies Manhattan Associates. American Turnkey Sonica Inatel Siemens Logicware Swiss Log, AG Metasys Optum Software HNC Software Celerity IndX Software Whitestone Bridge Zmarket Just In Time 4th Shift Platinum Software Avexus

15 ©2004 Vendevia Group LLC Creating The Latvian Legend A Look At The Basic Architecture The Government Role The Setup Role The GEC –Specialized to Market Segment –Ensures Market Focus –Fosters Competition –Creates Tailored Incentives –Provides Access to Resources –Provides Guidance

16 ©2004 Vendevia Group LLC Creating The Latvian Legend Getting Started Do conceptual design of GEC program for Latvia Create a GEC Strategic Initiative Establish Setup Agency and fund it appropriately Do detail design of the overall GEC Initiative Infrastructure Create the first GEC and start Guided Entrepreneurship Evaluate progress and make adjustments Continue rolling out the program

17 ©2004 Vendevia Group LLC Riga, Latvia June 9, 2004 Guided Entrepreneurship Powering A Knowledge Economy Boris N. Reznik, Ph.D. Chairman, Vendevia Group Miami, Florida USA


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