Archive for Uncategorized

Ken Morse Visits the Centre

Ken Morse visits the Centre

Ken Morse is a serial entrepreneur, an angel investor and a sales veteran.

He co-founded 3Com Corporation, Aspen Technology, Inc. and four other startups. He is the Founding Managing Director of the MIT Entrepreneurship Center, and conceived & led the weeklong MIT Entrepreneurship Development Program (EDP), which over the past ten years trained more than 1.000 global entrepreneurs in an intensive on campus executive education program. Since 2009 Ken is Visiting Professor at the ESADE Business School in Barcelona. He serves on the National Advisory Council on Innovation and Entrepreneurship (NACIE) of President Obama which conceived and launched “Startup America” and the “JOBS Act”. Ken serves on the Board of Advisors of several successful MIT spin-offs and several ambitious global start-ups.

Mr. Ken Morse shares his experience on “Critical Success Factors in Innovation - - What’s Hot and What’s Not”

Most Innovations fail, but yet: if we don’t INNOVATE we will die. Unstable markets, permanent changes in the geopolitical context, and accurate requirements of rigorous management in all business areas, validate the need for innovation. Many of today’s problems are in search of rapidly-developed, innovative solutions. The need to identify the critical success factors in innovation.
The discussion with Ken Morse is a good opportunity to hear about valued and tested practices concerning such factors.

WECREATE PASS OFF

The transfer of ownership of the Women’s Entrepreneurial Center of Resources, Education, Access, and Training for Economic Empowerment Center (WECREATE) from the U.S State Department to The Indus Entrepreneurs (TiE) Islamabad. This was a milestone achieved, and we plan to reach greater horizons.

We like to thank everyone who was a part of our big day at the WECREATE Centre. We wish to continue to grow our entrepreneurial family and will continue to strive for excellence.

The symbolic pass of key being passed from US ambassador of Pakistan, David Hale, to Mavra Bari. From left to right: Sean Griffin, Founder and CEO StartUp Cup, Murtaza Zaidi, Executive Director TiE Islamabad, Mavra Bari, Manager WECREATE Pakistan, U.S. Ambassador, David Hale, Tanya L. Hiple, Senior Advisor, Women's Entrepreneurship and Development U.S. Department of State

The symbolic pass of key being passed from US ambassador of Pakistan, David Hale, to Mavra Bari. From left to right: Sean Griffin, Founder and CEO StartUp Cup, Murtaza Zaidi, Executive Director TiE Islamabad, Mavra Bari, Manager WECREATE Pakistan, U.S. Ambassador, David Hale, Tanya L. Hiple, Senior Advisor, Women's Entrepreneurship and Development U.S. Department of State

World’s First WECREATE Women’s Entrepreneurship Center Launches in Pakistan

WECREATE | PAKISTAN Launch

The WECREATE | PAKISTAN team with Ambassador Olsen and Special Representative Scott Nathan during the official launch ceremony.

ISLAMABAD: Reinforcing the US commitment to advancing gender equality through entrepreneurship in Pakistan, US Ambassador Richard Olson inaugurated the Women’s Entrepreneurial Center of Resources, Education, Access and Training for Economic Empowerment (WECREATE) here on Friday.

The centre, the first of its kind in the world, will advance gender equality in entrepreneurship and provide training support and mentorship for women entrepreneurs in Pakistan. Read the full article here.

The 98% Entrepreneurship Reality

An Entrepreneurial Renaissance

98IconThere is no question about it. It’s an exciting time to be an entrepreneur wherever you live in the world. There is more attention being given to entrepreneurialism as a viable career path and way to innovate than at any other time in history. We are at the beginning of a full-blown entrepreneurial renaissance.

Organizations and programs that support new technology companies to launch and gain access to the tools, resources, and capital that accelerate building scalable, high growth businesses are being introduced on a daily basis.

Startup programs like Startup Weekend, Lean Startup Machine, TechStars, and YCombinator are highly successful at filtering large numbers of technology companies with mentoring and funding designed to test their business models in an effort to grow big, fast.

Let’s face it, you are hard pressed to go a full day without being fed a news story about a technology company that has raised their first and second multi-million-dollar investment or the latest IPO making the founders into millionaires and billionaires. Very exciting times indeed. At least for those that are able to turn their startup into piles of cash.

Over Promoting Unrealistic Behavior

There is a little known fact behind every startup story that puts a newly funded company on a pedestal, and very few people are talking about it. What is this little know bit of information?

Only 2% of all startups are funded by angels, accelerators, or venture capitalists. Let’s state this in a different way so that it will fully sink in. Only 2% of all startups have a business model, experienced team, connections, and scalability, usually technology based, to raise money from investors.

Funding is for the elite. More and more the funding is going to ivy league college graduates and teams that have a proven track record of generating huge returns for investors.

This means that 98% of all entrepreneurs and startups are not gaining access to the tools, resources, and financing opportunities that will give their new company the opportunity to grow.

It’s Not Always a Technology World

It is time to think different about what it means to be an entrepreneur. The myth is that you have to be a rock star and grow a technology company to be the next Facebook or Google. This does not reflect the true reality of what it means to be an entrepreneur. Entrepreneurialism is a lifestyle, a mindset, a way to live a life with greater purpose and meaning. If we are to overcome the economic challenges we face as a world we need to focus more energy on supporting the 98% of entrepreneurs who are starting new companies.

The challenge is that the 98% do not meet the capitalistic nature of our economy today. That is to say, that they do not have a company that can grow big fast and generate handsome returns for investors. No wonder so many have so much anger towards Wall Street.

The World Needs Small Businesses

The entrepreneurial reality of the 98% is that they are low-tech or no-tech companies, have done little or no planning, are made up of unproven teams, have little to no experience starting a company, and are not graduates of ivy league universities. In addition these companies only require a few thousand dollars to start generating revenue and will only grow 2 – 20 jobs.

Startups do not need to be a technology company. They do not need to change the world. They just need someone with an idea and the passion to take that idea into the market place. Just think about how different the American economy would be if we were giving small business startups a similar level of access to networks, coaching, and team development as the 2%.

We are over promoting unrealistic behavior. Instead of focusing on raising lots of money let’s focus on the development of viable business models that connect with customers willing to pay for the value created by the startup. By focusing on the generation of revenue that drives profitability there is less and less need to raise money.

Small business is at the cornerstone of entrepreneurship. Some will become the next Apple and most will become the next corner drugstore owning their business for 20 years. Both deserve the same support and regard for making a difference in our lives.

The WECREATE Project and StartUp Cup is born out of this frustration to see entrepreneurs armed with any type of idea gain access to the coaching, resources, and tools that the 2% have access to.

It’s time to start celebrating the real heroes of our economy, the 98% who work to make our lives better each and everyday.