If you pay attention to the media these days, you would think that entrepreneurs and venture capitalists are staring into an abyss in which all innovation has come to halt, start-up capital is impossible to acquire and interest has evaporated in promising private companies, except for Facebook and Twitter. Truth be told, I’ve attended two events in the past two months that confirm the start-up ecosystem remains alive and well – albeit somewhat more conservative.
In late February, I acted as the chairman for the 12th IBF Corporate Venturing and Strategic Innovation conference in Newport Beach in Southern California. This is the annual watering hole for strategic corporate investors interested in financing and working with start-ups inventing the future. The objective of the conference addressed the formation of partnerships for mutual advantage. I’ve chaired this conference for 11 of its 12 years, and attendance was as strong as I’ve seen. The corporations “get it” – they know innovation continues to accelerate and that multinational corporations can’t handle it all by themselves. And in a period in which venture capitalist is harder to attract, strategic corporate investors are an enticing alternative for start-ups that can deliver the goods. (more…)
