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31 High-Impact Entrepreneurs from 15 Countries Join the Endeavor Network at the 54th Selection Panel in New York City

New York, NY – August 14th – Endeavor selected 31 high-impact entrepreneurs leading 21 companies in 15 countries at its 54th International Selection Panel. Endeavor now supports 948 High-Impact Entrepreneurs from 606 companies across 20 […]

August 14th, 2014 — by admin

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Turkey’s Pozitron Acquired by Monitise Group in $100 Million Deal

Endeavor Entrepreneur company Pozitron, founded by Fatih Işbecer and Fırat İşbecer, recently announced its acquisition by mobile commerce giant Monitise Group in an all-share deal worth $100 million. A Turkey-based mobile software development company, Pozitron was founded in […]

February 3rd, 2014 — by admin

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10 tips to improve your SEO results

straightforward graphicReprinted from Drew’s Marketing Minute. Original article here.

By Brad Shorr, Director of Content & Social Media for Straight North, a Chicago marketing firm

Don’t be daunted by the complexity of SEO – especially now. Google has introduced a ton of changes to their ranking formula recently, most of which penalize complicated, manipulative SEO tactics. As a result, SEO has become simpler. Today the keys are:

• Having a clean site that communicates well with Google

• Creating great content that naturally attracts backlinks

Here are 10 crucial items for a 2012 SEO tune-up. The first five are onsite SEO activities, and the next five are offsite activities.

1. Update keyword research. Popular search terms change. Your business model may have changed as well. If you’re ranking well for keywords that have lost strategic value, all you’re doing is attracting visits from the wrong prospects.

2. Update title tags and content. Once your keywords are updated, put them in meta title tags and on-page content. Don’t just cram the keywords in: if necessary, rewrite pages to make the new keywords completely relevant.

3. Add new pages for additional keyword terms. Google loves fresh content. Add pages or blog posts steadily over time, using less popular (“long tail”) terms with strategic value.

4. Run an SEO diagnostic. Google’s Webmaster Tools is a great, free online resource that itemizes your site’s SEO issues making cleanup easy for you or your developer.

5. Set up a good internal linking system. The pages you link to most often on your site are the ones Google thinks are most important. We often recommend displaying links to your top lead-generating pages in the footer of the site, using keywords in the anchor text of the links.

6. Update good backlinks. Let’s move to offsite SEO issues. If you know of links coming into your site from popular sites/blogs, check the anchor text on those links. Ideally, anchor text should include keywords. If not, ask if they can change it.

7. Remove bad backlinks. If you know of links coming into your site from content farms, ad sites, and other sources with bad online reputations, remove them. These links could lower your rankings.

8. Do guest posts. A great way to create valuable backlinks is to write useful content on high quality blogs. Guest posts normally include a link(s) back to the writer’s site.

9. Update directory listings. Many people list their site in directories when it launches and never look back. Make sure those directory listings are up-to-date in terms of keywords and pages you’re linking to.

10. Update social media profiles. Along the same lines, keep keywords and links current for your profiles on LinkedIn, Facebook, Twitter – and Google+ if you’re there. People tend to forget about their profiles on peripheral social sites such as Twellow andFriendFeed, so keep those on your SEO radar as well.

Save the date for Endeavor Gala 2012 (Nov 8!)

Save it or else : (

Celebrate 15 Years of High-Impact Entrepreneurship at the 2012 Endeavor Gala in New York City!

Celebrate Endeavor’s 15th anniversary with 600+ global business leaders, game-changing entrepreneurs, and Endeavor network members – join us for the 2012 Endeavor Gala in New York City on November 8th!  Enjoy delicious food and drink, a fabulous musical performance, and great company while supporting High-Impact Entrepreneurship around the world. To purchase individual tickets or a table, contact gala@endeavor.org

 

The different types of angel investors

straight outta the 16th centuraryReprinted from NextView Ventures. Original article here.

By David Beisel, Cofounder and Partner at NextView Ventures, a dedicated seed-stage venture capital firm making investments in internet-enabled startups.

We at NextView Ventures often invest in a startup’s first round alongside other funds; either seed stage focused ones like ourselves or larger traditional firms.  Just as often, however, we’re investing alongside individual angel investors who are participating in the round as well.  Angel investors come in many shapes and sizes, however.  And it’s not always easy to recognize the pros and cons of taking money from individual investors, or how to even seek them out in the first place.  Addressing both of those issues can stem from the motivations as to why someone would want to put their hard-earned cash into a risky early-stage startup in the first place.   Along those lines, the world of individual angel investors is easier for entrepreneurs to navigate when you can recognize the category which he falls into based on their incentives and actions.  The choir of angel investors out there is comprised of a number of players which sing different parts:

The Super Angel.  Much has been written about this category, so I won’t belabor the description beyond that the defining characteristic is the large number of investments that he makes.  PROs of taking his angel money are the feeder system to venture financing of the next round and the vast network of portfolio CEOs which can be tapped into for connections and help.  CONS of an investment from a Super Angel include potential lack of “value add” because his time is spread so thin amongst many portfolio companies.

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7 essential stages of building a total online presence

intern is heating upReprinted from Duct Tape Marketing. Original article here.

by 

There are many moving parts involved in marketing and the online elements increase in importance with each passing day.

But, marketing is a system, and to effectively operate this system you must assemble and integrate each of the important parts into something that looks like the whole.

Your online presence is your key to success no matter what your business sells – no matter if all of your transactions are done face to face – no matter if you don’t yet see a way to get a return from your Facebook page – no matter if you’ve never bought an online ad.

The key, however, is to build a Total Online PresenceTM, much like you would a tall, sturdy building, by constructing floor by floor in specific order or in stages. Your stages may differ just a bit based on where you are today and you’ll surely come back and revisit, add on and revamp each stage as you grow, but I believe the following model is the surest way to view your online marketing as a system.

Below are the seven stages of building a Total Online Presence.

7 Stages of a Total Online Presence

Content Platform

So much of what happens online revolves around content. It’s how you get found, why people pay attention and how you start to exchange value. Without a content platform to build from a great deal of effort in other stages will be wasted.

To me the content platform starts with building a listening station with tools like Google Alerts, TweetDeck, TrackurSocial MentionSprout Socialor Radian6. From this point you can you can gain insight into your market, your competitors and important groups, such as key journalists, while starting the work of better understanding your most important keyword phrases.

Keywords are like chapters in your total body of content plan. Doing research, using tools such as Google Keyword Tool or Wordtracker, on the most important ways to show up when people search for a business like yours and creating blog posts around these chapters, using an editorial calendar approach, is how you fortify your content platform.

Once you start consistently creating content, you can produce valuable eBooks that will be the pivotal element of your email lead capture stage.

There’s really very little reason to play this game if your don’t put the effort in at this stage.

Organic SEO

Having someone type a search phrase that is key to your business and finding a blog post or page from your site on page one of the results is the ultimate payoff and, long-term, may be the difference between success and failure.

Search Engine Optimization can be complex and time consuming, but most businesses can generate significant results without making it so, if you simply focus on the following three elements.

Produce keyword rich, educational content – we covered this above, but search engines live on blog posts and other educational content. Use a tool like Scribe from Copyblogger to help you write more search engine friendly content.

Make it easy on the search engines – Make the on page elements such as your blog titles, URLs, ALT image attributes, subtitles and internal links work for you and use XML sitemaps that make it easy for search engines to grab your latest. Check out Search Engine News for great primer.

Draw lots of links naturally from other sites – Simply writing great content will start this process, but so will writing guest posts, uploading content to places like YouTube and Slideshare, making thoughtful comments on other blogs, submitting online press releases and amplifying your content in social networks. (Covered below)

Email Marketing

An engaged email list, eager to hear from you, is the most valuable asset your can build. 1000 responsive email followers trumps 25,000 Twitter followers every day when it comes to actually promoting the things that make your money.

Focus on building a list of email subscribers that want to hear from you and social media will become a tool set to help you do more of that.

Choose an email service provider (ESP) such as Constant Contact, GetResponse, AWeber, MailChimp or Infusionsoft and go to work on building email capture forms with the offer of your free eBook or weekly newsletter before you move on to social media.

Social Media Marketing

This is certainly an area where you should consider strategy before tactics.

The first step is to understand how your current customers are using social media and how you can use social media to somehow serve them better. If you do that, you’ll get immediate value.

Create Twitter lists of customers and add their social profiles to your CRM tool. Add a tool like Rapportive to your email.

Then claim and build your profiles on Facebook, LinkedIn, Google+, YouTube, Picasa, Slideshare and Pinterest.

Your plan to work and engage prospects in all of these networks may not be clear yet, but the first step is to claim the free real estate so you can start exploring.

Once you start to share content, build connections, reshare other people’s content and discover best practices in each individual network, you can begin to amplify your content and start finding ways to drive prospects to your eBook and newsletter in an attempt to start a relationship headed towards conversion.

Online Advertising

Many people waste advertising and then conclude it doesn’t work. Pay per click advertising can be very effective when done right. One of my favorite things about it is that a platform like Google AdWords allows you to test your thinking a dollar at a time.

Here’s my take on how to make ads pay – Use your ads to drive content awareness instead of simply to sell. Drive Facebook users to sign up for your eBook first and then you can sell them over and over again.

The basics of PPC are this: Use lots of punchy, dramatic ad copy, but test, revise and test. Create tightly focused ad groups with highly relevant ad copy, work negative keywords out of your list. Test some more.

Mobile and Location

Mobile is more of a behavior than a tool. The first step is to analyze what behaviors your customers are exhibiting before you dive into or dismiss Foursquare or text messaging.

I can assure you this however, your customers are reading content, searching for things to buy and using reviews to make decisions on mobile devices. Claim your location based profiles in places such as Foursquare andYelp.

Create mobile and tablet friendly viewing options with tools such asWPTouchTekora or GoMobi. Start creating mobile specific ads, landing pages, coupons and offers that take advantage the growing use of mobile devices as a major part of the purchasing process.

Analytics and Conversion

Like many stage-based processes there is a cyclical aspect as well. For some, creating benchmarks and key performance indicators is really the first step. So, if you’re one of those folks you can start here, because no matter where you are in the process this stage will always evolve.

Many people can’t start the process of measuring success until they are measuring in real time or can’t start the process of tweaking and testing until all of the elements are in place.

As you build make certain you install tracking code from a tools such asGoogle AnalyticsSpring Metrics or KissMetrics so you can begin to build the data to test and refine from.

Then you can start building conversion goals, funnels and events, tracking your ads and split testing your landing pages, opt-in pages and sales pages to discover ways to increase conversion.

Even something as overwhelming and complex as the changing face of marketing online get just a bit more manageable I think when you start to view it as a system.

 

7 subtle but deadly sins of entrepreneurship

>> << Reprinted from Under30CEO. Original article here.

By Francesca StaAna

Often, our biggest mistakes are the ones that we learn most from. Committing pricing errors, picking the wrong vendors, or failing to identify the right markets are examples of blunders that hit us hard but we learn quickly from. These mistakes are obvious, so we know not to do them again in the future.

However, there are certain types of mistakes that are more subtle and aren’t as easy to learn from. These insidious errors may look harmless because they seemingly don’t have any effect on your business, but the truth is, they are just as deadly as the above-mentioned mistakes.

The list below identifies 7 subtle (but deadly) mistakes or sins that entrepreneurs commit.

Letting yourself off the hook just because you’re the boss – When you’re your own boss, it’s all too easy to let go of your own little mistakes. So what if you overslept today? You’ll just work extra hours later. Forgot to follow up on a client? There’s always tomorrow, right? Wrong. Continuously letting yourself off the hook for small errors simply because you can is a recipe for personal and business failure.

You know how people who let themselves off the hook for skipping the gym end up overweight and sick 10 years later? Well, overlooking and tolerating the mistakes that you know you can correct can lead to a sick (not the good kind) business in the future. Be sure to develop the discipline to “catch” yourself while you can.

Staying too long on a plateau – We’ve discussed business plateaus before, but they’re worth mentioning again. You know that you’re on a plateau when your business has “reached a respectable level of success”. Your sales aren’t bad, and maybe you’ve even paid off your investment.

The “plateau stage” can be a comfortable one, mainly because it’s pretty steady. And while you’re allowed to hang around there for a while, be sure to not stay on a plateau for too long. Being comfortable for an extended period of time leads to complacency and incompetence. Avoid this by always striving to learn and be better. Take the leap off that plateau and bring your business to the next level.

Not being grateful for “small” mentions – Think those “Thanks for RT!” or “Thank you for the shout-out!” messages don’t matter? Think again. Spreading messages of gratitude returns a lot of good social media karma, and the best thing is, doing so won’t cost you a thing.

Whenever someone mentions your business on their blog or social media page, take the time to express your gratitude. They’ll be more inclined to mention or even feature you again in the future. And who knows? You could even gain a new friend or possibly even a contact that’ll vouch for you somewhere down the line.

On the other hand, NOT thanking others will make you look like a snob and people might refrain from giving shout-outs or doing business with you. It’s easy to ignore mentions or Re-tweets and just go about your day. But the fact is, disregarding small things like that can cost you big opportunities in the long run.

Not thinking outside the box – Always going by the book is nice, safe, and EASY. It’s also a good way to get left behind. Sure, you’re exerting marketing efforts and performing proven sales tactics that have worked for years, but are you really getting results?

If not, then it’s time consider some reinvention. Think outside the box and do things that other people haven’t done before. Look for new opportunities outside of the safe and proven ones. If you don’t, then some other CEO will, and you could just end up following their footsteps instead.

Not keeping up with technology – There are plenty of apps and tools out there that will allow you to be more productive or reach more people. Avoid falling behind and be sure to keep yourself up to date with the latest developments in tech and in your industry as well.

Exerting no networking efforts – Targeting potential customers or clients is a given when it comes to doing business. On top of this though, be sure to connect with colleagues and collaborate with other businesses so that you can promote each other.

Don’t make the mistake of avoiding connections with other businesses in fear that you’ll lose your customers. Instead, be more open to partnerships and help each other grow. There’s plenty of business to go around.

Not following up – I can’t even tell you the number of times that I’ve sealed the deal with a new client simply because I took the time to send them a follow-up email. A lot of entrepreneurs drop a sale or just give up and move on when a potential client doesn’t respond. Big mistake. For all you know, these “unresponsive” users were simply too preoccupied to reply. But it doesn’t mean that they’re not interested.

To make sure that you never miss a chance to successfully reel customers in, create a list of people that you’ve reached out to, and be sure to call or send them a follow-up email after about a week or so. A simple “friendly reminder” should do the trick. If you still don’t get an answer, take them off your list and move on.

Think big, think Asia

ssshhhh I'm the new internReprinted from GrowVC. Original article here.

By Vinay Dora K. A digital native, Vinay has seen web technology and its business development from close quarters through his experience with startups and corporations like Yahoo! Inc. A learner for life, Vinay is active in the student community circles with recent stints at KTH Royal Institute of Technology, Stockholm School of Economics, Peking University China and as a media panel delegate at Harvard University’s HPAIR conference.

Asian economies in the last two decades have witnessed a meteoric rise, in particular the Chinese, Indian and the South-East Asian economies. Though the recent crisis in the West had had its rippling effect on Asia, many believe its only a matter before the animal spirit of the dragon (China) and the tiger (India) reemerge. China and India aside, there’s an exclusive four, together known as the Asian Tiger and Dragon economies – Hong Kong, Singapore, South Korea and Taiwan, who have established themselves as world-class destinations for business.

While most economists and analysts are upbeat about Asia’s prospects, startup companies and the media have showed disproportionate interest in Asia. Take the case of European tech startups, most of whose expansion plans invariably end with either the Silicon Valley or the alleys of New York City. However a positive consequence of such a move is that there’s substantially lesser competition in many regions across Asia than in the West.

Why this indifference or deliberation when it comes to expanding to Asia? Some say it’s the cultural difference, while others just haven’t given it a thought. Well, if you haven’t given it a thought, consider these numbers:

# 4 billion or 60% of the World’s population live in Asia
# Asia will be the largest economic region in the next two decades
# 18% of Asian web traffic are on mobile, a growth of nearly 200% since 2010
#262 million Facebook users in South-East Asia & India, with another 200 million in Renren, the Chinese equivalent
# Chinese & Indian economies are the 2nd & 3rd largest in terms of purchasing power parity

Asia, despite its massive diversity, longstanding traditions and contemporary challenges of inequality, is still surging ahead and pretty fast. No wonder many of the world’s leading entrepreneurs are exploring ways to establish themselves in the region, especially in China and India. And here’s where South-East Asian nations have a massive advantage. Not only are they proximate geographically to both China and India, but they themselves are a combined strength of 613 million, becoming the 3rd most populated region in the world, and offering another lucrative market for entrepreneurs.

So how do South-East Asian countries score on the tech and social media front? Well, here are some numbers, courtesy Bernard Leong’s research. They include:
# 550 million total mobile subscribers
# 139 million Internet subscribers
# 3 million LinkedIn users
# 11.4 million Twitter users
# 6 million Foursquare users
# 54% of Singaporeans use smartphones
# 90% of Indonesia’s web users are on Facebook

Further according to the same report, Singapore seems to be the preferred regional headquarters for IT and Media companies, especially for sales, business development and marketing. The government agencies there seem only too happy to offer their support to entrepreneurs.

So the next time you think big, think Asia. And remember the route from Europe to Asia need not always be via the US.

Global Board member Reid Hoffman to receive “Difference Maker” award for entrepreneurial leadership

Reprinted from The Stevie Awards Blog. Original post here.

The Stevie® Awards today announced that Reid Hoffman, Executive Chairman of LinkedIn Corporation and a Partner at Greylock Partners, will be honored with its 2012 Difference Maker award at The 10th Annual American Business Awards new product and tech awards banquet on September 17 at the Julia Morgan Ballroom in San Francisco.

Hoffman will be just the second recipient of this honorary Stevie Award, which will be presented in recognition of his role in shaping social networking and entrepreneurship in the U.S.A.  DefJam Recordings founder and entertainment industry leader Russell Simmons received the ABA’s Difference Maker award in 2011.

“Reid Hoffman embodies the entrepreneurial spirit in America,” said Stevie Awards President Michael Gallagher.  “In addition to being an influential entrepreneur and venture capitalist, Reid devotes his energies to philanthropic and educational initiatives that work to inspire a new generation of startups in the U.S.A. and worldwide.  We’re honored to be able to recognize his achievements with an honorary Stevie Award.”

In 2003, Hoffman co-founded LinkedIn, the world’s largest professional networking service, in his living room.  LinkedIn has more than 175 million members in 200 countries and territories around the world.  He led LinkedIn through its first four years and to profitability as CEO and Chairman.

Hoffman joined Greylock Partners in 2009 and currently serves on the boards of Airbnb, Edmodo, Mozilla (Firefox), Shopkick, Swipely, Wrapp, and Zynga and has co-led investments in Coupons.com, Groupon, and Viki.  He also leads the Greylock Discovery Fund, which invests in seed stage entrepreneurs and companies.

He believes strongly in the ability for entrepreneurship and technology to improve the world.  Hoffman serves on the boards of Kiva.org, Endeavor.org, DoSomething.org, and StartupAmericaPartnership.org.  He also co-authored the best-selling book The Startup of You: Adapt to the Future, Invest in Yourself, and Transform Your Career.

Widely recognized as the premier business awards program in the U.S.A, The American Business Awards honor organizations and individuals in a wide variety of categories — from management and public relations to technology, human resources, new products and more.

The ABA’s September 17 banquet in San Francisco will feature the announcement of 2012 Stevie Award winners in categories for new products and services and achievements in technology industries.  Awards in other categories were announced in New York on June 18.

For more information about The American Business Awards or for press credentials to cover the September 17 ceremony, please contact Liz Dean at 703-547-8389 or by email at liz@thestevies.com.

About The Stevie® Awards
Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service.  Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide.  Learn more about the Stevie Awards at http://www.StevieAwards.com.

Sponsors and partners of The 2012 American Business Awards include American Support, Business TalkRadio Network, CallidusCloud, Citrix Online, Dynamic Research Corporation, iolo technologies, John Hancock Funds, LifeLock, PetRays, Primus Telecommunications Group, SoftPro, and VerticalResponse.

Op-ed by Endeavor network member Juan Pablo Cappello: “Did ‘Silicon Beach’ get beached in Miami? Let’s restart our engines and accelerate South Florida’s tech potential”

Juan Pablo Cappello, a member of the Global Board of Directors, wrote the following piece for the Miami Herald. The original story may be found here.

Few places on Earth invoke the kind of economic envy that Northern California’s Silicon Valley does. So much so, that hopes of being the “next Silicon Valley” have spawned scores of wannabes worldwide such as Silicon Oasis (Dubai), Silicon Cape (Cape Town) and Silicon Sloboda (Moscow). In the U.S., “Silicon Beach” is coveted by five cities, among them Miami.

Obviously, all these places share the same ambition: to attain the lucrative concentration of fresh talent, disruptive ideas and venture capital that has driven Silicon Valley’s technological innovation and financial success over the past 50 years. The problem is that there’s only one, and will always will be only one, Silicon Valley.

Should places like South Florida, with the means to foster technological innovation locally, abandon their ambitions? In a word, no. Some, like Israel’s Silicon Wadi, have gone beyond pretension: The Economist ranked it second in the world to Silicon Valley in the concentration of home-grown, high-tech companies, with U.S.-based global firms such as IBM, Microsoft, Hewlett-Packard, Google, Cisco and others having research facilities there.

Did Silicon Wadi happen overnight? No, it took about 40 years, with roots established even earlier than that. Did the Israeli government help? Yes, with low-interest loans and substantial grants, many notably from Israel’s military. Was academia involved? Indeed, Israel’s Technion – Israel Institute of Technology – and its Weizmann Institute of Science are ranked among the world’s top 20 academic institutions in computer science. Venture capital? Yes, that helped accelerate the region’s success, too.

In the late ‘90s, Latin American entrepreneurs flocked to Miami, considered the Americas’ crossroads. The Lincoln Road promenade teemed with Latin notables, such as StarMedia Network, Yupi.com, Patagon.com, DeRemate, Viajo.com, eritmo.com and El Sitio, while others, like Zona Financiera and Telefonica de Espana’s Terra Networks were nearby. Although South Florida wasn’t a tech hotbed then any more than now, IBM’s Boca Raton campus was where the PC was born and still employed more than 10,000 people. Fort Lauderdale’s Citrix Systems went public in 1995 and ended the decade with more than 1,000 employees. In 2001, the Terremark NAP (Network Access Point), which carries nearly all of Latin America’s Internet traffic to and from 148 countries, opened in downtown Miami.

So what happened to Miami’s Silicon Beach community when it seemed to be percolating so nicely as we entered the 21st century?

We became complacent. We took the sprouts of innovation for granted rather than cultivating them. Then came the great dot.com bust of 2000, which tightened the reins on venture capital for years. The Great Recession of 2008-2011 was the near knock-out blow.

In my conversations with Latin-based startups over the past several years, I’ve found that, sadly, almost none have expressed interest in a regional headquarters in Miami. Today’s successful Latin American technology companies look to Sao Paulo, Brazil, as the launching point for a regional expansion strategy. And they’re much more likely to open an office in Palo Alto than in Miami as a next step.

Let’s restart our engines.

We have to accept that getting Miami’s technology community back on track will be a long-term project, but we can accelerate it. Five key requisites are needed that can help spur the realization of Silicon Beach’s potential more quickly:

1. Leadership. Regional leaders need to agree on a vision of Miami as a thriving, world-class technology hub, and then establish specific goals, objectives and milestones to get us there.

Leaders must include: representatives of the city of Miami as well as municipal governments across South Florida; members of academia from the area’s universities and colleges, especially those involved in The Launch Pad at the University of Miami and the Americas Venture Capital Conference at Florida International University; C-level executives from existing regional technology firms and other companies that would benefit from a technology metropolis; representatives from private sector technology accelerators, such as Incubate Miami and the Enterprise Development Corporation in Boca Raton; local foundations that have innovation as part of their mandate such as Endeavor and the Knight Foundation; and members of the South Florida financial community, including venture capitalists focused on funding Latin American innovations, such as members of the Latin American Venture Capital Association.

2. Coordination. Organizing these leaders and distilling their combined know-how, creativity and discipline requires a dynamic, well-qualified individual or group of individuals in the pilothouse. A management office must be established, and an actionable agenda executed with appropriate follow-up.

3. Funding. The effort needs a capital foundation from both the public and private sectors to provide seed capital for startups and operational funds for coordinating and executing the plan.

4. Positioning. Funding will also support development of the proper positioning of Miami and South Florida as a place where new ventures are welcome — to succeed and, occasionally, to fail — along with venture capital to support them. Miami’s role as the Americas’ crossroads should be re-emphasized.

5. Marketing. With 70 percent of its population Hispanic, Miami should encourage startups to redouble marketing efforts aimed at the 53 million Hispanics in the U.S., a demographic estimated to have $1 trillion in buying power in 2010.

Worrying about being the “next Silicon Valley” — much less yet another “Silicon Beach” — is pointless and will not help Miami realize its potential as a bastion of technological innovation. Rather, a regional economic development plan is needed, one that recognizes innovation and collaboration as core engines of growth and job creation. The benefits will be many, not least the diversification of our economy, with technology supplementing the often cyclical service and construction sectors to create a more balanced, dependable economy.

Juan Pablo Cappello, partner in Patagon.com, co-founder of Idea.me and Sauber Energy, and practicing attorney, was named a 2012 “Top 50 Entrepreneur” by Business Leader.

Endeavor August 2012 newsletter

To view Endeavor’s August newsletter, a recap of all the top news stories from the previous month, please CLICK HERE.

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9 secrets for replicating Silicon Valley’s success

Reprinted from Wamda. Original article here.

By Kia Davis

July’s Global Innovation Summit (GIS) in Silicon Valley brought together 400 people to share ideas and on what makes a good startup ecosystem. After much debate, shareholders determined that there’s no single solution. However, there are several tactics that may work to replicate Silicon Valley’s success anywhere:

Persevere. Facebook CEO Mark Zuckerberg’s first venture went from a student startup to a $100billon IPO in 8 years. But a typical profile for a successful entrepreneur is more likely to include a number of ventures that didn’t quite work out. Ultimately, what makes them succeed is their endurance and the willingness to try and try again.

Collaboration is king.Successful innovators know that sharing ideas makes their company stronger, not weaker. Sharing ideas and best practices makes things better for everyone, and ecosystems that are built on a culture of collaborating produce more successful startups.

Choose venture capitalists that can be more than an ATM. In Silicon Valley, entrepreneurs talk about “dumb money” and “smart money.” “Dumb money” is cash from someone who can’t help in any other way. “Smart money” is cash from someone who can also provide valuable advice, connections, assistance, press, or introductions. Good VCs do this for their portfolio companies, and great VCs do this for the entire ecosystem.

Connections, connections, connections. Successful ecosystems are filled with people endlessly networking and sharing their networks with each another; some people even compete in their ability to help others. Competition might not be necessary, but it’s important to cultivate a sense of generosity.

It’s not about the tax breaks. Some governments around the world focus on tax breaks to stimulate innovation. But Silicon Valley has some of the highest living costs and worst tax regimes in the world. And yet, startups live and thrive there. Tax breaks alone won’t do much to build an ecosystem.

Government should invest in demand, not ventures. Investing in companies that don’t have a market is setting them up for failure. By investing in market development and driving demand, governments can play a key role in supporting entrepreneurs without backing ventures that don’t have the right fit.

Foster mentorship. Good mentors and good role models make good ecosystems. Mentors guide and advise startups, but also get startups their customers and partners.

Involve your customers and stakeholders in early stages. Whether you are designing a prosthetic leg for the wounded, a new tech incubator, or a location-based app, the best designs are ones that go to the customer to understand their needs, processes, and daily lives very early on.

Capital is overrated.The real drivers of success are strong teams and good market fit- not how much money a company is able to raise. The focus should always be on getting the basics right, on making sure your team has the right skills to deliver, and on getting your product out there.

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