![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_i1uk_kf1cmpUoM_Y08eo1nKFFe62ad9gexLKca3G4EmfLsZnVdzJdEiSUSCtaIsLO1WgvLX_dvDX_EL_iqVnQgCof2TgZ6gr8uPXKjmL8YDaTbrMcwuaBBFcqB1k2dHRKze8szo3aos/s200/Tom_Nastas.jpg)
On 2 February I spoke to graduate and undergraduate students of Dr. Zsuzsanna Fluck at Michigan State University (MSU). Zsuzsanna teaches graduate and undergraduate courses in private equity and venture capital at the Eli Broad Graduate School of Business. Zsuzsanna is also the director of MSU’s Center for Venture Capital, Private Equity & Entrepreneurial Finance. A few weeks ago I delivered this same lecture to graduate students enrolled in the private equity class of Dr. David Brophy, Ross Graduate School of Business at the University of Michigan.
MSU is on an ambitious journey to build a more vibrant entrepreneurial community in mid-Michigan. MSU has new programs and new money commitments to encourage start-ups from university technology, under the leadership of Charles Hasemann and Ian Gray, VP of Research. All the best to them in this endeavor.
Zsuzsanna was born and raised in Hungary. As an economist she worked on international joint ventures and then moved to the US to pursue doctoral studies in economics and finance. She and I talked extensively about the parallels of entrepreneurship between Hungary and Michigan, the perils that entrepreneurs from both face in capitalizing their businesses, and lessons they can learn from one another to do more-faster.
Silicon Valley’s greatest strengths are its comfort with risk, ambiguity and uncertainty; Valley investors willingly pay the costs of failure when business models don’t work, founders pivot & models evolve into something different from entrepreneurs’ initial intentions. This willingness to finance the wild and crazy is what attracts entrepreneurs to the Valley with gamechanging ideas that develop into businesses that truly change the world. These successes draw more investors and their money to these entrepreneurs, and the cycle repeats. As this happens over and over, the ecosystem lives, breathes and renews itself from one economic cycle to another.
Michigan entrepreneurs and its venture investors are more conservative, due to the culture that developed around the auto industry and its supply chain. Ways of doing business that flow from one industry that dominate a region or country’s economy often leads to an investment culture that rejects early stage innovation, the untested and undeveloped ideas of innovators and entrepreneurs that makes Silicon Valley, uhm, Silicon Valley.
Decades ago I worked in engineering at Ford Motor Company, and new innovation had to be well proven before it worked its way into cars and trucks. If technology failed on the road, people can get hurt or die, risk unacceptable to all; in such circumstances the risks of failure are logical and understandable. While times are changing, such thinking created a culture and way of doing business and investing directly opposite to the risk appetite in Silicon Valley. Conservatism to risk does not make Michigan and like-minded Rust Belt states bad, just different.
Except for the very few, most investors in developing countries approach risk differently than Silicon Valley. They invest in known and understandable risks, mainly the risks of execution. These are the uncertainties they have dealt with as businessmen and investors, and have the experience to help entrepreneurs solve—avoid. The risks of financing innovative firms, i.e., will customers buy, are profits possible, achieve promised performance from new ideas – often technology based – is simply too much for them. While the risk appetite of Midwest investors is greater than their counterparts in emerging markets, they share more commonalities than differences due to shared values toward uncertainty, ambiguity and failure.
So specifically, what actions can entrepreneurs and participants in the local ecosystem execute to create a more risk friendly venture community? Let me suggest two:
Mentor entrepreneurs to ‘Sell Risk, then Opportunity.’ The prelude to this is of course the building of business models that sell risk and opportunity by incorporating cultural attitudes to risk and failure since they drive investment decisions & the entrepreneurial process in the local community.
Entrepreneurial ventures need ‘spark points’ to capture the attention of the market, users, and investors. While spark points are easy to see in hindsight vs. foresight, they frequently result when overcoming the friction that exists in commercialization, leading to minor revenue, but huge leaps in confidence. Keep the eyes of your entrepreneurs open to these accomplishments and transform them into events that are publicized to the market.
I’ll be writing about these subjects in future posts so stay tuned for more.
Comments, opinions welcome here or send directly to me at Tom@IVIpe.com.
Be well and be lucky.
For more information please visit Mr. Nastas' website
Nice blog. I didn't have time. I thought I'd read it or read the topic. Is related to Silicon Valley, Hungary and Emerging Markets but I thought why not include it in my Dissertation Proposal Help because I was told something else related to marketing.
ОтветитьУдалитьЭтот комментарий был удален автором.
ОтветитьУдалитьOne of my friends told me that he attended your last lecture. He is an entrepreneur and business student. He told me about your lecture in which you discussed silicon valley's strength and other business ventures with the students. Its true that different people are approaching risk factor completely different than silicon valley's approach. I want to ask which one is the best method to evaluate and create more risk friendly venture environment?
ОтветитьУдалитьAssignment Writing Services
When I was in my under-graduation, very seldom it used to happen that I would have the need to buy dissertation proposal writing service UK-based. But ever since I have started my masters I think I need a helping hand with completing all these assignments which keep on pouring like waterfall.
ОтветитьУдалитьWhen I was in undergrad, I rarely had the need to employ a Hrm dissertation writing service . situated in the United Kingdom. But, ever since I began my master's programme, I've felt the need for assistance in finishing all of these tasks, which continue to stream in like a cascade.
ОтветитьУдалитьDescriptive essays are often long and laborious. They require special attention and research. All the facts and info-graphics are tedious. But with https://pro-papers.com/ I was able to get help with all my accounting essays. I was able to reduce my semester workload and focus on more productive things like sports and chess competitions. This has allowed me to move forward and now I look forward to working with them on all of my college assignments and homework.
ОтветитьУдалитьVery helpful, friendly and knowledgeable, manomano discount code staff that made my order and experience first class.
ОтветитьУдалитьMostly students need academic help in alternative education but some challenges they do not face with own self like homework, assignments and etc so therefore they best Dissertation methodology writing companies who work for them and solve their all academic problems.
ОтветитьУдалитьIt is good to know that money is being invested in educational departments. This paves the way for an improved educational system. I wish such a system will be introduced that can help the students with their writing projects as well so they won’t have to look for “Do My Assignment services” or “essay help services”.
ОтветитьУдалитьMichigan State University's global reach extends far beyond its campus, with connections to Silicon Valley, Hungary, and emerging markets. From groundbreaking research to international collaborations, MSU embraces innovation. As a student navigating these diverse landscapes, I'm grateful for the support I receive, including the option to conveniently do my essay online.
ОтветитьУдалитьThe collaboration between Michigan State University, Silicon Valley, Hungary, and emerging markets holds immense potential for innovation and global growth. With their combined expertise and resources, they can address pressing challenges and foster technological advancements. Such initiatives can greatly benefit students seeking academic support like uni assignment help, as they can tap into the knowledge and opportunities offered by these collaborations to enhance their learning experience and expand their horizons.
ОтветитьУдалитьit's great to hear that you had a chance to interact with both graduate and undergraduate students! Engaging with students at various educational levels can provide unique perspectives and insights. It's important to foster meaningful conversations with students, as they are the future leaders and professionals. By understanding their experiences and aspirations, we can better support their growth and development. Additionally, it's interesting to note that students nowadays have access to a wide range of resources, such as online platforms that offer assistance with academic assignments. One such option is the ability to pay someone to do my assignment, which can be beneficial for those seeking additional help or support. Overall, this collaborative approach to education enables students to enhance their learning journey and achieve their academic goals more efficiently.
ОтветитьУдалитьЭтот комментарий был удален автором.
ОтветитьУдалитьIt's fascinating to see the distinct risk attitudes shaping entrepreneurial ecosystems. The comparison between the risk appetite of Michigan and Silicon Valley underscores the importance of local cultures in venture investments. When thinking about improving risk tolerance in the venture community, entrepreneurs could benefit from drawing lessons from both regions. Applying this insight to the creation of "spark points" and embracing risk in their business models could potentially help foster a more dynamic ecosystem. Just as students turn to specialized dissertation writing service for expert guidance, entrepreneurs could similarly seek out mentors to navigate the complexities of risk and opportunity, ultimately enhancing their chances of success.
ОтветитьУдалить"The 341-0037-01 Cisco 1000-Watts AC Power Supply is a beast! 💪💡 It's the powerhouse your networking gear deserves to stay up and running. Cisco quality at its best!
ОтветитьУдалитьExploring the global reach of institutions like Michigan State Univ. in Silicon Valley and Hungary reminds us of the interconnected world we live in. Just as professionals must adapt to emerging markets, Delaware realtors also need to stay current, considering aspects like Delaware realtor license renewal. Education knows no borders, and neither does the real estate industry's need for ongoing learning and adaptation in ever-evolving markets, both local and international
ОтветитьУдалитьI've been contemplating about getting new books in my home, and the best football coaching books are at the top of my wish list.
ОтветитьУдалитьThe relationship between affordable yachts, Silicon Valley, Hungary, and emerging markets has enormous potential for global growth and innovation. They can solve current concerns and drive technical progress by pooling their skills and resources. Such initiatives can substantially benefit students in need of academic assistance, such as university assignment aid, because they can tap into the knowledge and opportunities provided by these collaborations to improve their learning experience and broaden their perspectives.
ОтветитьУдалитьThat is really nice to hear. thank you for the update and good luck. Check the best cheap yachts for sale.
ОтветитьУдалитьThis article gives the light in which we can observe the reality. This is very nice one and gives indepth information. Thanks for this nice article. We have the best green kratom.
ОтветитьУдалитьgreat interaction again Cool stuff you have got and you keep update all of us check the best motor oil 20w50.
ОтветитьУдалитьI gotta favorite this website it seems very helpful . I also wanna talk about the best jerry campbell.
ОтветитьУдалитьMichigan State University (MSU) can leverage SharePoint Syntex to streamline and enhance its global educational initiatives in Silicon Valley, Hungary, and emerging markets. Here’s how SharePoint Syntex can facilitate this expansion.
ОтветитьУдалитьNice post mate, keep up the great work, just shared this with my friendz Check the best synthetic automatic transmission fluid.
ОтветитьУдалитьThank you for helping people get the information they need. Great stuff as usual. Keep up the great work!!! I also wanna talk about the best best workforce management software.
ОтветитьУдалить