Entrepreneur's Pains

The "Great Disconnect". That is how I describe the relationship between technology entrepreneurs like us and the capital market. Entrepreneurs engaged in value creations are left to sweating in the sun compared to those businessmen involved in quick profit and instant wealth (but less value according to me) enterprises such as real estate and construction, trading and gaming, etc.

The technology entrepreneurs are at the bottom of the pecking order and frowned upon their visionary business ideas. Inspite of that fact, those entrepreneurs continuously maintain their businesses even if lead to postponing the roll-out of their innovative business creations.

Cultural Bias

Because of the cultural bias against the risky business proposals of technology entrepereneurs, most of them tap the capital market in USA. And they made good. What is left is for the Philippines is the backdoor business process components, giving away the intellectual property creations of brilliant Filipinos to foreign countries. One example is the Filipino initiated Gluecode which was developed in the Philippines, funded and IPed in US and later sold to IBM .

Silicon Valley

But it is not so in so far as Silicon Valley is concerned. The Silicon Valley's business model is to develop and nurture technology startups. Still in its pioneering stage in the Philippines, Dennis Posadas, Filipino wrote a book about it.

Enter "Rice and Chips".

The book explains how Asian countries are using the Silicon Valley model to develop technology startups. Dennis enumerates the unwritten rules of innovation that have worked in Silicon Valley since the 1930s based on the works of scholars and other seminal works on technology entrepreneurship. Using these concepts as a benchmark. Dennis points out similarities and differences between Silicon Valley and Asian countries such as China, Taiwan, Singapore and Korea. He discusses concepts like proximity, Schumpeter's creative destruction, intellectual property, the importance of universities, publications and patents, and the role of stock markets in encouraging venture capital.

Dennis, The Author

Dennis Posadas, has worked as chip equipment development engineer, technology/business analyst and venture capital scout with one of the largest semiconductor companies in the world. Dennis received his BS Electrical Engineering degree from the University of the Philippines in 1991, was a sponsored Fellow of the Advanced Study Program at the Massachusetts Institute of Technology (MIT) Center for Advanced Educational Services. He is presently a consultant to the UP-Ayala TechnoPark Business Incubation in UP Diliman, Quezon City, Philippines.

A much sought speaker on technology entrepreneurship, Dennis' schedule is quite full sharing his insights to students, entrepreneurs, and venture capitalists.

(Source : Rice and Chips : Technopreneurship and Innovation in Asia, Dennis Posadas
http://ricebowlandchips.blogspot.com)

Labels: Ayala Technopark, Dennis Posadas, entrepreneur, Innovation, rice and chips, Silicon Valley, UP Diliman

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