Presentation at Conference on How and Why of Promoting Entrepreneurship Abroad

Hoover InstitutionStanford UniversityMay 21, 2009

The How and Why of Promoting Entrepreneurship Abroad

Richard Boly National Security Affairs Fellow, Hoover [email protected]

Case Study: Partnership for Growth in Italy — Promoting Entrepreneurship as U.S. Foreign Policy

© 2009 Hoover Institution. All rights reserved.

Entrepreneurial vs. Bureaucratic Capitalism

Entrepreneurial Schumpeter’s “creative

destruction” Messy, bottom-up,

unplanned Private actors create

new venture ecosystem Government creates

positive policy framework

Bureaucratic National champions Centralized, top down,

negotiated industrial policies

Job preservation, not job creation

Sacrifice growth for stability

Example: Failure of EU’s Lisbon Agenda

3

© 2009 Hoover Institution. All rights reserved. 4

Building the “New Venture Ecosystem”

Move research to marketGrow risk capital markets Spur innovation by strengthening the

Intellectual Property Rights (IPR) regimeCreate and promote Italian entrepreneurial role

models


Move Research to Market

Two-day visit by Stanford President Hennessy Italian Academics for EntrepreneurshipNational Science Foundation FellowExchanges for university tech transfer officersBiotech guru road show



Italian Academics for Entrepreneurship

7

Raffaele OrianiLUISS

Guido ChiarottiSISSA

Stefano FantoniDirector, SISSA

Alberto Di MininSant’Anna

Francesco SaccoBocconi

Paolo CremonesiMilan Politecnico

Leo MiglioMilan Bicocca

Stefano ZambonU. of Ferrara

Max BergamiALMA Graduate School

Paolo MilaniU. of Milan

Ruggero FrezzaU. of Padova

Chiara FranzoniTurin Politecnico

Rosa GrimaldiU. of Bologna

Roberto GuerrieriU. of Bologna

Manlio Del GiudiceUNISOB, Naples

Alessandro SanninoU. of Lecce

Ferruccio FiordispinSIAF Volterra


Grow Risk Capital Markets

Established Italian Angels for GrowthU.S. entrepreneurs-in-residence Keynote speech at biennial Italian Venture

Capital Association global meetingPitching session for 20 Italian startups with

Silicon Valley VCsConference on improving the regulatory

framework for VC and angel investing



Spur Innovation by Strengthening the Intellectual Property Rights (IPR) RegimeDemystifying the patent process (webinar)Kauffman Foundation iBridge Conference on the Bayh-Dole ActIPR conference with Italian magistrates and

U.S. Patent and Trademark Office, Department of Justice

Ministerial conference on IPR protection with the Foreign Minster and Minister of Economy



Does Success Depend on Forces Outside Our Control?

0

10

20

30

40

50

60

70

80

Source: Pew Global Attitudes Survey, Oct. 2007

Percent

Yes No


Create and Promote Italian Entrepreneurial Role ModelsFace2Face: Capturing Creativity

(40-episode webinar series)First Generation NetworkMind the Bridge

(business plan competition focusing on entrepreneurs already in the workforce)

Fulbright BEST Silicon Valley Immersion Program



Face2Face: Capturing Creativity —Participating Universities

15

Università di Torino

Università di Genova

Università di Bolzano

Università di Padova

Politecnico di Milano

Università di Brescia

Suor Orsola Benincasa

Università del Sannio

Università La Sapienza

Università Tor Vergata

Università Roma Tre

Luiss Università

Università II di Napoli

Università di Camerino

Università della Calabria

Università di Lecce

Università di Trento

Università Bocconi

Università di Firenze

Università di Pisa

Scuola S. Anna

Università di Catania

Università di Pavia

Università di Ferrara

ALMA Graduate School

Politecnica delle Marche

Università dell’Aquila Università di

Bari

Università di Palermo

Università di Udine

Università di Milano, Bicocca


Fulbright BEST Silicon Valley Immersion Program

16


President Bush Meets with First-Gen Entrepreneurs, Fulbright BEST Scholars


Institutionalizing and Spinning Out:A Sustainable Future for the P4GPartnership Summit, May 20, 2008, Venice

Ambassador Ronald Spogli

15 Partner Organizations

300 Policy Makers, Entrepreneurs, and Media


Policy Relevance

“In an era of integration and interdependence, it is also my responsibility to lead America into recognizing that its interests, its fate is tied up with the larger world... (if) not… we (are) depriving ourselves of potential opportunities for markets and economic growth, but ultimately that despair may turn to violence that turns on us; that unless we are concerned about the education of all children… not only may we be depriving ourselves of the next great scientist who's going to find the next new energy source that saves the planet, but we also may make people around the world much more vulnerable to anti-American propaganda.” (emphasis added)

– President Obama, April 3, 2009


A Simple Proposal

President announces intent to nominate a person for ambassadorship

If yes, schedules initial video conference between embassy team and organizations promoting entrepreneurship

State Department country desk officer offers nominee a meeting with private organizations promoting entrepreneurship

Ambassador-designate confirmed and sworn in

Ambassador arrives at post, determines if entrepreneurship program is a good fit

10 weeksAverage Time Span:


Window of Opportunity

21

Argentina Transition EAustralia Vacant TBrazil Jul 06 EBulgaria Jul 08 SChile Nov 07 EChina Nominated SColombia Sep 07 ESCroatia Jul 06 SDenmark VacantEgypt Mar 08 EEstonia Vacant SFinland VacantFrance Vacant

Georgia Jul 04 SGreece Nov 07Iceland Oct 05India Vacant ETSIreland NominatedJapan Vacant TJordan Jul 08Korea Jul 08Latvia Vacant SLebanon Jun 08Lithuania Jul 06 SMalaysia Sep 07 TMalta Vacant Mauritius Vacant T

Mexico Vacant ENamibia Nov 07Netherlands Vacant SNew Zealand Vacant Norway Jan 06 TPakistan May 07 TPoland Jun 04 SRomania Vacant SSouth Africa Vacant ESpain VacantSweden VacantThailand Oct 07Turkey Nov 08 EVietnam Aug 07 S

Vacant/Named (20 of 40)Non-career from previous administration (3 of 40)

E Endeavor (9)T TiE (7)S SEAF (13)


Ideas… Information…

Richard Boly

National Security Affairs Fellow, Hoover Institution

[email protected]

Economy & Finance

Presentation at Conference on How and Why of Promoting Entrepreneurship Abroad