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CHANGING THE RULES:GLOBAL, TRANSPARENT AND NETWORKED MODELS TO MAKE BUSINESS
Jouko AhvenainenGrow Venture CommunitySingapore – Infocomm Industry ForumOctober 28, 2010
Grow VC - Everyone funding startups
FROM 2005 TO 2010From distruption to networks
www.growvc.com2
The Network Society: Networks cause a comprehensive restructuring of society at large, they are breaking old models of organization.
2005 - 2010YouTube
20 hours video every 60 secs of every day
Facebook500 million users
eBayOver a Million people make their living there
Dis
rup
tion
http://www.flickr.com/photos/naum/1639496461/
Facebook mobile
Google tv
…this networked society thing is a vu jade experience
The industrial age is over!Myspace:
Destroyed by News Corp
Grow VC - Everyone funding startups
WHO SAVES OUR ECONOMY
Growth is needed
www.growvc.com10
Startups ARE the KEY to Growth
Yet early phase funding exists in a dysfunctional system
Current Venture Capital market
WE HAVE A DREAM:more equal opportunities,
where entrepreneursand private investors unite
to accelerate innovation
WE HAVE A DREAM:more equal opportunities,
where entrepreneursand private investors unite
to accelerate innovation
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Networked solutions =new frameworks
“You don’t have to be Steve Jobs, to be an entrepreneur”
”You don’t have to beBill Gates to be
an investor”
”Everyone must start somewhere”
globaltransparent
opencollaborative
efficient
Trust Economy
Grow VC - Everyone funding startups
VIRTUAL SILICON VALLEYCrowd-funding
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Vir
tual S
ilico
n V
alle
y
Grow VC: everyone funding start ups
Professional venture capital funds have become less relevant to the financing of innovation for the time being
Vision The next Silicon Valley is not a location, it is a
platform and community on the Internet
Grow VC - Everyone funding startups
P2P and Crowd-fundingvia Community Investments
Grow VC - Everyone funding startups
Match-making and negotiation tools
for private investments
Grow VC - Everyone funding startups
Professionalservice investments
Over 6,000 registered members
approximately 1,200 startups
total investment money over$20M USDPeople allocate money in startups andinvest in Community Fund
the first local network started 3 months ago in India, already now almost 1,000 members and cooperation with local angel networks and VC’s
more local networks are coming in Asia, America, and Europe
Grow VC China10.10.10
Grow VC - Everyone funding startups
DISTRUPTION IN FINANCEWe are not alone
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Kiva.org transactions
well over $100 Million
in 4 years
Platform Model Crowdfunded
Prosper Peer to peer lending
$210 M
Lending Club
Peer to peer lending
$170 M
Kiva Microcredit $165 MZopa Peer to peer
lending$160 M
Kickstarter Supporting $20 MMyC4 Microcredit $17 MSellaBand Supporting $4 MIndieGoGo Supporting $3.5 MBetterplace Donating $3.5 MRocketHub Supporting Pifworld Donating $0.2 MKapipal Donating $0.1 M
Mobile Banking
Mobile Banking
8 million subscribers
2010, M-PESA transferring close to 150M Euros per day, a figure that would put M-PESA transfer business ahead of that run by Western Union
txteagle workers are paid via MPesa
txteagle
Why must you wait and pay when you transfer your own money over borders
Networked - banking
Grow VC - Everyone funding startups
ARE WE READY FOR THISSo what
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WTF!?The quiet revolution of networks
& cooperation
Trust networks challenge outmoded models of control
Read & write, participatory, conversational: markets are conversations, marketing is a conversation, business is a social science!
A new language:
Co-creation + networked economics + communities of interest can be and are, proven & powerful platforms and processes to stimulate innovation and commerce
VelocityLightweight
FlexibleAdaptive
Enabling platforms
OpenOpen platforms
Open API’sOpen legal frameworks
Global
Once upon a time “we” were atomized but connected up to large organizations and big media – today that power is eroding…
Acultural
challenge
…for corporates…for governments…for human beings
To resist will lead to
financial and organisational
exhaustion
Grow VC - Everyone funding startups
Grow Venture Community
Where do YOU start...?
Grow VC - Everyone funding startups
Jouko [email protected] (UK): +44 7889 833 165Tel (HK): +852 8120 7854Tel (US): +1 415 287 0854Skype: jahven - Twitter:@jahven
www.growvc.comTwitter: @growvc
Podcast: “Grow VC” in iTunes