Written by Yusuke Hashimot
What’s needed for energetic entrepreneurship? Usually, our answers might be “the culture”. Then, I am alway curious about what the entrepreneurial culture is.
Today, we had a discussion with four awesome Chileans, who are working for government, an entrepreneur, and a student at INACAP. At the beginning, we were discussing “the entrepreneur’s culture” which is needed to become like silicon valley. Maybe, culture is cultivated by education, networking, enough money to invest, or how to motivate entrepreneurs. Also, it is necessary not to be afraid of the failure.
In the middle of the discussion, Isabel who are an entrepreneur in Santiago told us her personal experience, and she pointed out an important fact related to entrepreneurship. What she mentioned was “government (=investor) doesn’t know how to evaluate the entrepreneur’s business plan, and also government is afraid of failures. When we talk about the entrepreneur culture, we tend to focus on entrepreneur’s side, such as education, networking, pitch practice etc. However, I noticed that investors’ mind, knowledge, and skill also affect whether entrepreneurs can succeed or not, and this investors aspect is equally important.
We consider that there is the entrepreneurial culture In Silicon Valley. There are many successful companies, entrepreneurs who have great ideas. But at the same time, there are lots of investors like angels and venture capitalists. I'm personally taking other Michael’s class, Entrepreneurial Finance, and he introduced us "Bazillion Dollar Club” in the class. I was surprised not only that entrepreneurship could be a entertainment TV show, but also that there are lots of investors and incubators in Silicon Valley. They know well about how to incubate young business people, and how to make money by investing them. I realized that both of them contribute the culture in Silicon Valley.
Chile doesn’t necessarily become the Silicon Valley, but in order cultivate the culture by innovation, Chilean investors need to learn a lot as well. Personally, I really interested in “valuation” process by investors. We are learning from many cases in Entrepreneurial Finance class, but investor’s valuation process is not so clear (= enclosed) in the most cases.
Also, I learned Chilean business culture that is "Nuestra Politica”, from Julie McPherson. Because of this mind, they
tend to follow their own rules strictly, and to lose flexibility. As a result, investors are afraid of failure. In conclusion, giving an educational opportunities for Chilean investors (or inviting investors from overseas) and changing their mind-set is one of the important part to cultivate entrepreneurial culture in Chile.
Today, we had a discussion with four awesome Chileans, who are working for government, an entrepreneur, and a student at INACAP. At the beginning, we were discussing “the entrepreneur’s culture” which is needed to become like silicon valley. Maybe, culture is cultivated by education, networking, enough money to invest, or how to motivate entrepreneurs. Also, it is necessary not to be afraid of the failure.
In the middle of the discussion, Isabel who are an entrepreneur in Santiago told us her personal experience, and she pointed out an important fact related to entrepreneurship. What she mentioned was “government (=investor) doesn’t know how to evaluate the entrepreneur’s business plan, and also government is afraid of failures. When we talk about the entrepreneur culture, we tend to focus on entrepreneur’s side, such as education, networking, pitch practice etc. However, I noticed that investors’ mind, knowledge, and skill also affect whether entrepreneurs can succeed or not, and this investors aspect is equally important.
We consider that there is the entrepreneurial culture In Silicon Valley. There are many successful companies, entrepreneurs who have great ideas. But at the same time, there are lots of investors like angels and venture capitalists. I'm personally taking other Michael’s class, Entrepreneurial Finance, and he introduced us "Bazillion Dollar Club” in the class. I was surprised not only that entrepreneurship could be a entertainment TV show, but also that there are lots of investors and incubators in Silicon Valley. They know well about how to incubate young business people, and how to make money by investing them. I realized that both of them contribute the culture in Silicon Valley.
Chile doesn’t necessarily become the Silicon Valley, but in order cultivate the culture by innovation, Chilean investors need to learn a lot as well. Personally, I really interested in “valuation” process by investors. We are learning from many cases in Entrepreneurial Finance class, but investor’s valuation process is not so clear (= enclosed) in the most cases.
Also, I learned Chilean business culture that is "Nuestra Politica”, from Julie McPherson. Because of this mind, they
tend to follow their own rules strictly, and to lose flexibility. As a result, investors are afraid of failure. In conclusion, giving an educational opportunities for Chilean investors (or inviting investors from overseas) and changing their mind-set is one of the important part to cultivate entrepreneurial culture in Chile.