Stanford University

Entrepreneurship

Benchmarking the Global VC Industry -- Emerging vs. Mature Markets

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This presentation will compare the more mature venture capital markets of the United States, Europe, and Israel with the larger emerging venture capital markets of China and India.

Most analyses being presented are as recent as the second and third quarters of 2009 and will include:

  1. Venture capital investment by number of deals and dollar amounts by stage and industry
  2. Valuation benchmarks by industry and geography
  3. Exit benchmarks by industry sector and exchange 
  4. Comparing specific differences of startups through their life cycles
  5. Venture capital firms investing in other geographies
  6. Cleantech deals and their latest performances

The methodology used in the analysis differs from the traditional Western model (comparison by round), since the investment patterns in emerging markets are very different.

About the speaker:

Dr. Martin Haemmig's venture capital research covers 13 countries in Asia, Europe, Israel, and USA. He lectures and/or performs research at numerous universities across the U.S., Europe, China and India. He has authored books on the Globalization of Venture Capital. He is Senior Advisor on Venture Capital at SPRIE and advises on venture capital for China's Zhongguancun Science Park. Martin Haemmig earned his electronics degree in Switzerland and his MBA and doctorate in California, and worked for almost 20 years in global high-tech companies in Asia, Europe and the U.S. before returning to his academic career. He became Swiss national champion in marketing in 1994.

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Martin Haemmig Speaker
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A Historical Perspective on the Development of the VC Industry in Silicon Valley--Are We in a New Era?

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Formal venture capital investing in Silicon Valley has been underway for more than 50 years. It was in the Valley that the limited partnership format was first used for venture capital. Whereas, originally Silicon Valley VCs were mostly from a finance background, very early on individuals with operating experience formed or joined partnerships.

Perhaps most important was the tight linkages between the venture capitalists and the nearly continuous evolution of information technologies. The enormous returns from information technologies enabled Silicon Valley VCs to make very early investments in other technologies ranging from biotechnology to nanotechnology. These returns also encouraged high levels of risk-taking.

Through the use of a historical perspective, the concluding remarks will reflect upon the current dire straits for venture capital.

Martin Kenney is a Professor at the University of California, Davis, a Senior Project Director at the Berkeley Roundtable on the International Economy, as well as a fellow at the Center for Entrepreneurship at UC Davis. He has authored or edited five books and over 120 scholarly articles on the globalization of services, the history of venture capital, university-industry relations, and the development of Silicon Valley. His two recent edited books Understanding Silicon Valley and Locating Global Advantage (with Richard Florida) were published by Stanford University Press where he is the editor of a book series in innovation and globalization. Currently, he is preparing a book on the history and globalization of the venture capital industry.

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Martin Kenney Professor Speaker University of California, Davis
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The Silicon Valley Project

SPRIE kicks off fall quarter with "Silicon Valley Leaders Forum"

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On Thursday, September 24, the Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE) is pleased to present the "Silicon Valley Leadership Forum: Changing Silicon Valley," a forum featuring addresses by Dr. John Hennessy, President, Stanford University; Mr. James C. Morgan, Chairman emeritus, Applied Materials; and Dr. John Seely Brown, Independent Co-Chairman, Deloitte Center for Edge Innovation, as well as a special panel focus on how venture capital is changing in the Valley.
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Kiminori Gemba

Shorenstein APARC
Stanford University
Encina Hall, Room E-301
Stanford, CA 94305-6055

(650) 723-6530
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Visiting Scholar, 2009-2010
IMG_5714.JPG MA, PhD

Kiminori Gemba is a visiting scholar at Shorenstein APARC and joins the Stanford Project on Japanese Entrepreneurship, a project within the Stanford Program of Regions of Innovation and Entrepreneurship. 

His research interest lies in analyzing the innovation strategy of an "open innovation", with the main object of his research being to determine the source of the competitiveness of open innovations.

He received his Master's degree in Engineering from the University of Tokyo, after which he joined the Sanwa  Research Institute as a researcher.  He received his Ph.D. from the University of Tokyo, where his doctoral thesis was entitled "The Dynamics of Diversification on Japanese Industries".  After receiving this degree, he worked as both a research associate an an associate professor at the University of Tokyo.  He is currently a professor at Ritsumeikan University's Graduate School of Technology Management.

Audio for Charla Griffy-Brown seminar now available

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Now available on the SPRIE website: the audio recording of Professor Charla Griffy-Brown's seminar on "The Fortress and the Cloud: Women, technology and entrepreneurship in Japan." Professor Griffy-Brown explores how new business models are developing in Japan and how opportunities are being created for the rise of women entrepreneurs.
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"Entrepreneurship in Japan" symposium

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Forbes.com covered the May 29 "Entrepreneurship in Japan" symposium, co-sponsored the SPRIE-Stanford Project on Japanese Entrepreneurship and the University of Tokyo. Experts Robert Eberhart and Ulrike Schaede and others presented papers at the event on the state of Japanese entrepreneurship and how to foster it, as well as the outlook for startups there and the question of whether entrepreneurship itself can be taught.

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Research Presentations by Corporate Affiliate Visiting Fellows (Session 4)

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In this session of the Shorenstein APARC Corporate Affiliate Visiting Fellows Research Presentations, the following will be presented:

Jun Ding, “Corporate Social Responsibility in State-Owned Enterprises”

State-owned enterprises (SOEs) play an important role in China’s industrialization achievement and support social service functions in the planning era.  After China entered the marketing era, SOEs declined substantially and are in need of reform.  Ding believes SOEs should be restructured and that supernumeraries and social services functions should be separated from the primary mission of SOEs into society.  Ding’s research emphasizes recommendations found in corporate social responsibility that exists in China.


Mitsutoshi Kumagai,  “Impact on Growing On-line Video Services on Pay TV Business Model”

Recently, YouTube is not the only online video service many people enjoy.  Big players of traditional broadcasting industries are making strategic approaches in online space.  Kumagai’s presentation reviews and assesses those challenges in TV industries and its value as advertisement media.

Tadashi Ogino, “Smart Meters in the United States and Japan”

A smart meter is an advanced electric meter that measures the electricity usage in more detail than a conventional meter. Utility companies and customers can use this data for energy efficiency. A smart meter is a key component for the next generation electric grid.  Many smart meters have already been installed in the US, but smart meters are not used in Japan. Ogino analyzes the current situation of smart meter projects in the US and in Japan. He tries to understand why smart meters are not prominent in Japan.

Ayaka Takashima, "Women Entrepreneurs in Japan and the United States”

Recently in Japan, women entrepreneurs have been becoming one of the career choices for women. As an employee of Nissouken, which provides entrepreneurship program, Takashima is trying to reveal women entrepreneurs' habitat and tendency through comparative research.

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Jun Ding Corporate Affiliate Visiting Fellow, PetroChina Speaker
Mitsutoshi Kumagai Corporate Affiliate Visiting Fellow, Sumitomo Corporation Speaker
Tadashi Ogino Corporate Affiliate Visiting Fellow, Mitsubishi Electric Speaker
Ayaka Takashima Corporate Affiliate Visiting Fellow, Nissoken Speaker
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SPRIE presents "Solving the Global Leadership and Talent Equation"

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On February 23, a standing-room-only crowd filled the Bechtel Conference Center to attend "Solving the Global Leadership and Talent Equation," a seminar presented by SPRIE as part of Entrepreneurship Week 2009 at Stanford University. Moderator Kyung Yoon (Talent Age Associates) led the panel of Eric Benhamou (Benhamou Global Ventures), David Chao (DCM) and Michael Zhao (Array Networks) on a lively discussion covering the problems and challenges of building effective international teams. Missed the event? Watch the video on the SPRIE website.
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Bottom-up Entrepreneurship for Democracy and Development

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Iqbal Z. Quadir is the founder and director of the Legatum Center for Development and Entrepreneurship at the Massachusetts Institute of Technology (MIT), which promotes bottom-up entrepreneurship in developing countries. In the 1990s, Quadir founded GrameenPhone, which provides effective telephone access throughout Bangladesh.

Quadir is an accomplished entrepreneur who writes about the critical roles of entrepreneurship and innovations in improving the economic and political conditions in low-income countries. Quadir is often credited as having been the earliest observer of the potential for mobile phones to transform low-income countries. His work has been recognized by leaders and organizations worldwide, as a new and successful approach to sustainable poverty alleviation.

For four years, Quadir taught at the John F. Kennedy School of Government at Harvard University, focusing on the impact of technologies in the politics and economics of developing countries. In 2005, he moved to MIT. His particular research interest is in the democratizing effects of technologies in developing countries.

Earlier in his career, Quadir served as a vice president of Atrium Capital Corp., an associate of Security Pacific Merchant Bank, both in New York, and a consultant to the World Bank in Washington DC. He received an MBA and an MA from the Wharton School, University of Pennsylvania, and a BS with honors from Swarthmore College.

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Iqbal Quadir Founder and Director of the Legatum Center for Development and Entrepreneurship Speaker MIT
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