Kauffman Fellow Report: Volume 1

A Note on Innovation, Capital Formation, and the Role of the Society of Kauffman Fellows

For the Society of Kauffman Fellows, innovation begins and ends with the quality of organization-building. This monograph explores what underlies successful capital formation, what the Society brings to the table, and how innovation may look in the future.

Introducing the Kauffman Fellows Report

To introduce you to the first volume of this publication, we share the story of Jeff Stein and Trius Therapeutics. This story of one Kauffman Fellow’s success is also the story of the Kauffman Fellows network in action and illustrates the vision we are working to fulfill.

Patient Capital in an Impatient World

Impact investors combine financial returns with social impact by investing in private, high-growth companies with the potential to deliver measurable social or environmental benefit. This article provides a primer on social investment, fund structures, investment strategies, and the investment professionals themselves.

Reimbursement Buzz Saw

In the face of the strong upward trend in health costs, healthcare reimbursement strategies are increasingly important for life science venture investing. The procurement of official reimbursement codes is key to the success of a new device or treatment. In this article, case studies of successful reimbursement illustrate best practices.

An Undergraduate Textbook on Venture Capital for the World’s Second-Largest Venture Market: China

“Venture Capital” is a popular buzzword in China. Renmin University was among the first in China to create a venture capital program. In recent years, many universities have followed, teaching venture capital as an elective. In late 2010, a new textbook will be available, one with an interesting background and story.

The Mystery of Venture Capital: A Mission to Connect Entrepreneurial Capital and Economic Development

Successful venture capital is more about the people than the capital. In this article, the author shares insights from his unusual professional journey and introduces the Venture Corps, a bridge between private venture capital and government-based economic development focusing on the education and nurturing of people.

Expanding the Venture Market for U.S. Companies: Looking Outside

The last decade offered a contracting market for the venture world. However, as this article illustrates through a case study of one Nordic firm, companies with proven business outside the United States that are looking to enter the U.S. market offer an ideal means to expand the market for U.S. venture funds without adding significant risk.

Cross-Border Venture Revolution: Next Generation Startup Agronomy

The current global economic crisis is driving a new form of crossborder venture collaboration. Adapting and exporting the lessons of Silicon Valley, in this article the authors introduce the World TaSC Force (Technology and Science Commercialization) and an innovative approach to global venture collaboration.

Investing in the Mobile Revolution

Much of the core infrastructure for mobile has been in use for twenty years, but today’s growth prospects are of historical proportions. Networks, devices, and applications span personal and business users in nearly all geographies; this article explores the implications of the mobile revolution for investors and consumers.

Planning a Bioscience Incubator Program: Entrepreneurship and Economic Initiatives from Invention to Venture

For the bioscience industry, commercializing innovative intellectual property requires cooperation between public research and private industry. This article describes the evolution of incubator models and summarizes best practices using the model of the Oregon Bioscience Accelerator and Entrepreneur Center.

The Future of Venture Capital

There exists a “virtuous cycle” in venture capital: funds flowing from Limited Partners to General Partners to portfolio companies, through an exit market, where the funds ultimately get returned to the LPs with a risk premium. The authors examine the economics along each segment of this cycle and consider the implications for the future.