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The 31st of July the Henry Ford Museum supported by sponsors like the Kauffman Foundation, Ford Motors Co and New Economy Initiative launched the first of what we hope is an annual Maker Faire event in Detroit. Twenty-five thousand people showed up to check out the makers who came out of their garages to share their wares at the Henry Ford Museum grounds. So why is this so special?
The premise of this in-depth, practical article is that trust impacts everything in your organization. As a result, trust is a key ingredient to your success, and you, as the top leader, must model and inspire appropriate behavior and consciously build a culture of trust.
Because significant funding is needed to develop new, innovative life science and digital health products and tools, fewer ideas are making the leap from research institutions to product development teams. This clash between the short-term, earnings-driven needs of the medical marketplace and the risky, lengthy, and capital-intensive process of bringing medical ideas to fruition is a major challenge facing modern medicine.
Charles Henagan loved his new job as a vice-president of marketing at a major beverage company. His challenge was to reinvigorate a legendary brand of vodka and he embraced the adrenaline rush of travel, meetings and strategy sessions. Approaching 50, he was the oldest employee in his division, but made an effort to bond with younger colleagues over cocktails after work. Top management embraced his initiatives and he was feeling great about his work.
When cash flow turned positive and profits started coming in, the co-founder of an Internet start-up sought his advisory board's approval for new expenses. What he got was a barrage of questions: "Where are next year's projections? What's your mission statement?" As the business grew, the board made sure it stayed on track financially, raising prices as well as morale. And when the company was acquired, everybody cashed in.
Today, the Kauffman Foundation launched a weekly (for all intents and purposes) vidcast called “Top of Mind.” It’s nothing fancy; no post-production special effects, no camera wizardry. It’s just me, my iPad, and my thoughts on a host of topics that are impacting the world of entrepreneurship.
Entrepreneurship is vision and values but, on eVenturing at least, it's also "tools and templates." These are those practical agreements, models, checklists, samples, worksheets, and other items so vital to the day-to-day operation and success of your company. The monthly Collections provide them by topic-and we keep track of how much attention they get. Listed here are the tools and templates most viewed by your fellow entrepreneurs from September 2006 to September 2007. We assume that means your peers found value in them, and that there's a good chance you will, too.
Investors write checks because they hope to get a decent return on their money. The way venture capitalists reap those returns is by taking their companies public, or perhaps selling them to other companies. That's a tough game when demand for IPOs is anemic, as it was in 2009.
Demand hasn't been robust in 2010, but things are thawing. As of this writing, eight companies had done IPOs thus far this year--the same amount for all of last year, according to CB Insights, a Manhattan firm that tracks private-company funding trends (including venture capital, private equity and government-backed deals).
"The venture funding and M&A activity we've observed so far in 2010 suggests that this year's venture funding levels will be higher than last year, but still below those highs of a few years ago," says Anand Sanwal, a CB Insights founding partner.
Biotech entrepreneurs face unique business challenges in bringing their products to market. To partner effectively in the biotech space, this question-and-answer article identifies key tasks, including advice on term sheets, intellectual property protection, and treatment of royalties.
Really about the top ten "legal" mistakes startup entrepreneurs make, this piece offers practical, important tips on doing things right the first time to avoid costly legal rework later. Must-read information for founders who think "legal" can be dealt with "later."
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