Building the Entrepreneurial Eco-System

March 15, 2009 at 9:02 pm 3 comments

Dr. Zahir Ali Syed, who is the Co-Chair of the MIT Enterprise Forum of Pakistan, took us through the need for an entrepreneurial eco-system and what that actually meant. He then described how MITEF has started to build the entrepreneurial eco-system in Pakistan. He talked about the issues and opportunities and the way forward. It was an informative session for the audience and when we opened up for Q&A there were a lot of questions that were put to him.

Dr. Zahir A. Syed’s presentation can be downloaded from the link below:

Building-the-entrepreneurial-eco-system

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What it takes to be a successful entrepreneur Off to Dhaka for 3 days

3 Comments Add your own

  • Building the Entrepreneurial Eco-System…

    Dr. Zahir Ali Syed, who is the Co-Chair of the M …

    Reply
  • 2. Building the Entrepreneurial Eco-System | Tea Break  |  March 16, 2009 at 12:30 am

    […] This cup of tea was served by: In the Line of Wire […]

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  • 3. Anthony Mitchell  |  March 19, 2009 at 9:04 pm

    Four ingredients for creating an entrepreneurial community that could be added:

    1. Access to continuing education.

    The half life of a developer’s technical skills is about six months now without refreshing. New technologies are entering the field faster than many people can keep up (present company often included). Planning for skills updating needs to be done within organizations. In the U.S., low-cost community colleges play an important role in skills refreshment by enabling techies to take a single course (for a quarter or semester) and participate in intensive weekend seminars.

    Training can also be provided by private enterprises who could offer half-day or longer training to their customers, vendors and suppliers. My company’s ISP uses free training for customers as a loyalty-builder.

    2. Active involvement by a major research institution

    In Silicon Valley, Stanford University plays a leading role in helping launch startups. That’s where Google got its start. Institutions in Pakistan need to become more involved.

    3. Involvement by the largest local companies

    Large companies can serve as training grounds for entrepreneurs, as Citibank has done in Pakistan and Microsoft does in its area. Not only can large companies provide training and management experience, their executives can also contribute angel funding to startups.

    4. Angel organizations

    It’s becoming cheaper to start new companies, enabling angels to displace VCs as possibly the only source of funding that many startups will ever need. Now there are angel-venture groups that function like VC firms. As with VC firms, angel organizations have limited partners that do not have day-to-day management responsibility, but who invest in the angel fund and are available to serve as mentors.

    An example of an angel fund is the Founders Co-op (http://www.founderscoop.com/) as described in this article:

    Questions to ask yourself when planning a startup and thinking of seed funding

    http://greenwhite.org/2008/10/08/questions-to-ask-yourself-when-planning-a-startup-and-thinking-of-seed-funding/

    Reply

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