Innovation is the backbone of our economy.
Without it, we simply won’t have the game-changing economic growth needed to end the global financial crisis.
Even with nearly six million new businesses started every year, the process for creating American innovation remains remarkably inefficient.* The time, effort, and capital wasted on genetically-flawed businesses represents the loss of tens of billions of hard investment dollars and millions of jobs, with only small fraction of companies actually surviving the gestation process.
With so much as stake, creating successful new ventures simply cannot be a congressional afterthought, or a hobby for the wealthy. To accelerate economic growth, the time is now to focus on creating sustainable new ventures faster and with more efficiency than ever before.
Borrowing from the scientific principles that led to the mapping of the human genome, the Venture Phenome Project is building a Phenotype map of the genetic and environmental factors that ultimately influence the success or failure of a new venture. By tracking and measuring these factors over time, this collaborative research effort is able to “crack the code” on early stage investing.
What Does This Mean To You?
For entrepreneurs, this represents an opportunity to get rare visibility into what a strong venture investment looks like through the eyes of an actual investor. After all, if you’re an entrepreneur and aren’t building your business around the actual criteria you’re being evaluated on, who does that benefit?
For investors, the Venture Phenome Project is a platform for learning from and sharing wisdom with both seasoned investors and forward-thinking entrepreneurs. No one benefits by spending time focused on a venture that has bad DNA. This is your chance to improve your venture evaluation process. By shedding light on the critical factors that influence successful investments, you can make more informed investment decisions.
If you’re interested in becoming a more efficient investor or entrepreneur, here’s the good news; the results from this interactive research project are open to the public. The information gathered on this site is yours to consume. To make the process more impactful, the best insights will be aggregated into a bi-annual publication to provide a concise and clear blueprint of the venture Phenotypes and their significance in the creation of value.
At the end of the day, all of us (investors and entrepreneurs) are seeking the same result; a significant return on both invested time and capital.
We’re in a state of crisis. The time to optimize entrepreneurship is now.
Check it out, and leave your thoughts…
* SBA’s Office of Advocacy, 2006 County Business Patterns
Read Full Post »