Wednesday, February 11, 2009

Entrepreneurship Workshop










During the weekend, I went to Berkeley. While there, I made an unexpected trip to the People's Park. In 1968, local community residents turned a parking lot into a park and community garden for everyone to enjoy. The park provides a safe place for people who are homeless to fellowship, garden, rest, and receive food and clothing.

Tuesday, February 10, 2009

Entrepreneurship Workshop

On January 5, 2009, I accompanied a delegation of 23 students from the University of IL to San Francisco, CA. We were the inaugural group to spend two weeks in Silicon Valley learning about entrepreneurship and start-up companies in Silicon Valley. The students ranged from undergraduate to graduate, the majority engineering students, with a few business students, and me, an architecture student. I went with an open mind, curious about what I might learn, what I might have the opportunity to one day share with others. We spent the first week of the workshop at the Plug and Play Technology Center in San Jose, CA. The Tech Center is the equivalent of a community center for a “technology-minded” neighborhood. Start-up companies and venture capitalists lease office space and network with each other. Representatives from these entities, including lawyers, gave presentations on topics ranging from how to start a company to how to market and sell a product. During week two, we travelled to various start-up companies, small firms and large firms like Google. From the experience, I gained a new set of vocabulary – venture capitalist, angel investors, early adopters, and term sheet to name a few – new insight on entrepreneurship and how it can be applied to social change, and a new sense of connection that engineers, business people, and architects share – we are all designers, we all create, we can all affect change together.

Upon arriving in San Jose, CA, we drove to the Plug and Play Technology Center. This center is an incubator space where start-up companies lease office space while they work on their product and garner funding. Venture capitalists also have office space in the Center, many of them are referred to as “Angel Investors.” Angel investors invest in a start-up at the beginning stages. Doing so requires a high level of faith on the part of the investor for the company has yet to establish a track record of success and overcoming failure. Residents of the Valley value failure, in particular how one overcomes the setbacks is an esteemed asset. The first week of the workshop was held at the Center. Different speakers shared their start-up story, and advice from how to manage the growth of a business to the details of launching a start-up such as obtaining a patent and a lawyer. Also, we learned how to market and sell a product from seasoned professionals, many alumni from the University. Speakers stressed clarity and brevity when delivering the sales pitch. Additionally, entrepreneurs conduct market research and relay this knowledge to investors. The research builds credibility which is the most important aspect of managing a start-up. Investors invest in a team of people, not the idea. To that end, a start-up is not the creation of one person, but the concerted effort of knowledgeable people. A smart founder is one who acknowledges their deficiencies and connects with people who supplant those weak areas. In essence, it is the incubator community which supports the creation of start-ups. People collaborate and share their pitches or ideas inside the space. The practice draws parallels to the architecture studio, both academically and professionally, where designers ask for feedback on their work from colleagues. The creative process is a collective act and an incubator space fosters that process.

The first speaker who introduced the concept of the “network” was the founder of the Plug and Play Technology Center, Saeed Amidi. Mr. Amidi’s networking efforts with venture capitalists, investors who have a vested interest in the start-up companies housed in the Center is one of the reasons for the Plug and Play Technology Center’s success. Most importantly, he views the potential in everyone he meets, envisioning their contribution to the big picture of cultivating start-ups. For example, he liked the personal skills of the barista at his local Starbucks and hired her to become the Business Relationship Manager at the Technology Center. Everyone, from venture capitalists to employees in a start-up engages in a reciprocal relationship – it is win-win for everyone. This symbiosis is reflective of the natural ecosystem. In essence, the Center is a microcosm of the Silicon Valley ecosystem. It is a community center for a technology community.

The entrepreneurial mindset can be incorporated into the strategy of an individual engaged in social action. The key principles are to foster a network of individuals and groups who have a vested interest in the issue pursued and to foster awareness of the oneness people share. For example, an issue such as hunger affects people who are homeless and people without access to healthcare. Thus, the social entrepreneur will craft a “pitch” to garner the support and involvement of agencies that target these particular populations by communicating the common thread that unites them – hunger affects everyone. This method also incorporates taking a risk, a practice inherent to the traditional entrepreneur, for the social entrepreneur, by building relationships with unlikely collaborators, is innovative in their approach to social change.

The most critical thing I learned on the trip was the importance of community in entrepreneurship. Although my exposure to Silicon Valley was short, I observed a correlation between the success of the Valley and relationship building. One of the presenters stated that the "cream of the crop" live and work there, and this is not taken for granted. In fact, the crop is tilled continuously through networking events and in fertile growth environments like technology incubator spaces. In the air is a common unity, centered on materializing ideas, a dedication that can be replicated in many fields, not just technology. Like a natural ecosystem, symbiotic relationships centered on mutual appreciation and exchange, engaging a diverse talent pool, and fortified connections between people and ideas built Silicon Valley – the foundation for any sustainable community.