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Kauffman Fellows Report, Volume 6

2015 | Request a hard copy | Download entire journal (PDF – 4.3MB)

Kauffman Fellows on the Science of Capital Formation

To describe the unique contribution of Kauffman Fellows to the venture capital ecosystem, the author introduces a Startup Capital Hierarchy of Needs. While financial capital and intellectual capital are most often discussed, three other “shadow” capital types are needed for success.

A Hybrid Venture Capital Model for the Middle East

Based on interviews with MENA family offices, entrepreneurs, and VCs, the author identifies three unique challenges to venture capital in the region. His hybrid VC model aligns entrepreneurial efforts with the requirements of the region’s large corporations that are both its LPs and exit strategies.

The Evolving Landscape of the Life Sciences Sector: New Approaches in Therapeutic R&D

The core components of a rental economy are infiltrating the historically closed drug discovery and development ecosystem. The author describes five specific catalysts fundamentally altering how new therapautics are discovered and developed, and by whom.

Singularity and Growth in Latin America: Nine Drivers of Category-Leading Companies

In describing these drivers, the author demonstrates that Latin America is ripe for the development of a new crop of category-leading, $1+ billion companies. Three potential threats to that development exist, but can be overcome by following some key strategies.

Benchmarking VC Investment Ecosystems: A Data Model

VCs need a way to aggregate activity in their surrounding ecosystem, as an ongoing benchmark to measure their own performance. The author shares a simple model to help a VC firm become increasingly agile over time—and in the process, help the industry optimize investments.

Rebooting Basic Healthcare in Brazil: Thinking Outside the System

This story of dr.consulta describes one man’s incredible effort to create an agile, high-quality, humane, and affordable solution to Brazil’s healthcare crisis. dr.consulta clinics have served 150,000 uninsured families, and they are scaling toward 300+ clinics and 30 million medical visits per year.

Jumpstarting Medical Device Innovation: New Incentives Create VC Opportunities

Early-stage funding is a key element in the translation of medical knowledge into successful therapies. Recent federal regulation changes make non-dilutive funding available for clinical trials, reducing uncertainty for investors and offering a template to evaluate clinical value.

Venturing into the Industry: Lessons Learned from a VCpreneur

What does it mean to disrupt the venture capital industry using an entrepreneurial mindset? The author shares his experience as a “VCpreneur” and the founder of VenturePicks, and analyzes the potential effects of crowdfunding on the venture ecosystem.

Facilitating Pharmaceutical Licensing into Russia

Two Kauffman Fellows analyzed and then ventured into the Russian pharmaceutical licensing landscape. The author recounts how their efforts resulted in the creation of a firm, Ruphena, to match and facilitate license negotiations between Russian and U.S. pharmaceutical companies.

MENA’s Internet Industry: The Opportunity, Challenges, and Success Stories

Internet business growth in emerging markets follows a pattern—growth, inflection point, hypergrowth. The author gives specific advice for successful investment in the Middle East and North Africa, and assesses the top three markets that are poised for hypergrowth­—and $1+ billion companies.

Outside the (Tech) Box: Successful Non-Tech Venture

A more sector-inclusive approach to venture will be critical to capture value in the future, and VCs are recognizing that innovation and scalability are not necessarily linked to technology. The author describes the shifts and factors that make non-tech venture both possible and profitable.