Wednesday, September 8, 2010

Angel Investing: Some observations and resources

Having helped run the Angel Forum for a few years (link: AF's Nov 4th workshop on "Exit Strategies for Investors & Entrepreneurs"), I got to see and hear some interesting trends in the angel and VC world. Some were controversial at the time, but are becoming more 'normal' today. The general trend is that VC's are attracting too much capital and have moved up-market to look for deals that have higher pre-money valuation AND high growth potential. On the other hand, angels are happier with smaller investments with moderate-to-high growth potential. The troubles began when VC's moved up-market before angel groups and super-angels stepped in to fill the "valley of death." The valley of death is the gap between seed funding (by friends, fools and family, plus some angels) to get to prototype, and the resources required to get to market growth. Angels used to fund up to market entry (not necessarily growth), and VC's would fund market growth, only after early customers had proven the market exists. Filling this gap included a combination of angels forming groups to pool their knowledge, contacts and cash, plus quicker exits by targeting exit by acquisition, not IPO. This is perhaps good news for angels and entrepreneurs. VC's on the other hand are being challenged to demonstrate massive returns on large investments (sorry guys, it's easier for small companies to grow, than big ones). For the rest of us .. well, maybe it's time to find an angel to invest along side with, or wait for an IPO to fuel later stage growth.

For further reading, here are a few sources:

So what does it all mean? Well, funny you should ask.
In Sydney (and elsewhere) more and more people are getting together to launch seed funds. Each has their own particular theme. For example:

Tuesday, September 7, 2010

New working paper: "Knowledge Diversity in the Emerging Global Bio-Nano Sector"

My co-authors and I have a new working paper out on SSRN: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1672506


Knowledge Diversity in the Emerging Global Bio-Nano Sector

Elicia Maine 
Management of Technology; Policy Analysis, Simon Fraser University

Martin J. Bliemel 
Australian School of Business - Strategy and Entrepreneurship

Armstrong Murira 
affiliation not provided to SSRN

August 31, 2010

Abstract:    
Great opportunities and radical innovation are most likely to occur at the convergence of two or more technology streams. A bio-nano sector is emerging from such a convergence and may eventually provide radical innovation and new dominant firms. As there are no comprehensive reviews on this emerging sector, this paper provides a descriptive overview, identifying what types of firms are entering, from what knowledge base, where they are located, and their strategic choices in terms of technological diversity, R&D strategy, business model, and areas of clinical focus.

The firms engaged in bio-nano research and development span the range from start-up firm to multinational pharmaceutical, biotech, chemical, and electronics firms: three quarters of bio-nano firms are relatively young and relatively small. The United States dominates this sector, with more than half of all bio-nano firms located in the USA. Even within this sector which epitomizes the convergence of technology, there is a broad range of technological diversity, with the most diverse firms overall coming from a base in electronics, the most diverse start-up firms coming from a base in nanomaterials, and the most narrowly focused firms coming from a biotechnology/pharmaceutical base. We compare firm size with R&D strategy. The smaller firms have less diverse patent portfolios and are more likely to follow a hybridization knowledge diversity strategy, while the larger firms have more diverse patent portfolios and more widespread use of a juxtaposition R&D strategy.

Keywords: knowledge diversity, biotechnology, nanotechnology, technology convergence, radical innovation, emerging technology sector, hybridization, juxtaposition

Monday, September 6, 2010

CrisisCamp Syd a huge success. Thanks volunteers!

Reposting from http://wiki.crisiscommons.org/wiki/Sydney/meetings/04-Sept-2010#Summary


The organizers of CrisisCamp Sydney exceeded their expectations and objectives for the geocoding and crowdsourcing event planned for the weekend despite a rainy start on Saturday. Fifteen volunteers joined the first day and nine showed up on Sunday. We were lucky to have very talented, hardworking and committed volunteers. Here's a wrap up of what happened.
Originally, we were hoping to group the number of volunteers depending on their skill sets. In every group, we planned on putting a developer or two, a researcher and one or two members with Pakistani language proficiency. But as everyone got more settled with geocoding, a number of our developer experts were able to improve on the work flow specifically in making the geocoding less laborious. In just a few hours, they were able to reconfigure how to make the workload more efficient.
Paul helped us in designing a more efficient work flow by creating GIS layers which added context to the mashup application. From this, Luke wrote a script that summarized village data on the OSM. Meanwhile, we had our other volunteers, Adam, Fadhillah, Umair, Eva, Joel, Warren, Rene and Ping continue to do geocoding and crowdsourcing (using Crowdflower). Another volunteer, Lachlan, was tasked with helping automate some of the tasks needed to be performed on Crowdflower. These allowed the tasks to be automated and made it easier for our geocoding and crowdsourcing volunteers. He did this using a grease monkey script. One Pakistani volunteer, Anita, was also connected with Anihi at CrisisCommons to help with translating in Urdu a wiki page.
Another important task completed was when Pamela, Hassan and Ivan, using a JavaScript/Mashup, created an application whereby the villages that had been geocoded were in bold and this information was then matched against the spreadsheet of flood affected villages found a http://bit.ly/pkflood_kp.
As the first day rolled along, our volunteer videographer, Tolmie shot and produced a tutorial video on geocoding villages using OSM and US DMA data. After editing, he uploaded it on Youtube and the CrisisCommons wiki. It will also be uploaded in the Drumbeat site.
On both days, Aram, wrote an application using Django that pulled out of Crowdflower messages based on their urgency, prioritizing these messages to be processed by crowdsourcing volunteers.
All in all, our team had processed over 200 SMS messages in Crowdflower. We added about 300 or so villages on the Open Street Maps.
Our student partners, Khiem and Sandy have done a great job in helping us secure the venue, helped with the catering and the other logistical details that needed to be attended to for the two day event. Martin has shown his support, sponsorship and troubleshooting when necessary. Organizers Shoaib and Vicky, after doing all the coordination, finding partners and planned how the event would unfold, were running around doing all sorts of tasks that needed to be done druing the two days, aside from providing instructions and orientation on geocoding, crowdsourcing. In between, the two were also seen geocoding, crowdsourcing, writing blogs, monitoring all the channels with other CrisisCamp groups in Toronto, Bangkok and London, making contact on the IRC web chat node, skype, etc. We thank all our sponsors and partners: CrisisCommons, CIE, Humanitarain OpenStreetMaps, Mozilla Drumbeat, SIFEUNSW, and the World Bank.
To all our volunteers - what a fantastic group of people. You've done us all proud!!!! Big, big thanks.