The state of venture capital in 2009

This week's edition of Forbes reports on the rather bleak reality of venture fund investments. According to Cambridge Associates, reports Forbes "the median annual return for all venture funds raised in 2000, the peak of the dot-com craziness--is 1%." 

Read the article: "Venture to Nowhere" by Rebecca Buckman.

Creating a good idea and implementing it requires more than "financing". Developing a product that works and that sells is important too. Moreover, an ethical backbone is the material of a successful entrepreneur--not ego, hyperbole, and a virtual bank account. 

MIT Idea Competition

The assessment and evaluation of the Ideation course at KTH is based on the MIT (Massachusetts Institute of Technology) IDEAS competition.

Hosted annually since 2001, this competition for the members of the MIT community serves as a catalyst, not only for university-based education and inspiration, but its reach and influence extend far beyond the campus.

According to the MIT IDEAS site, "IDEAS participants have leveraged more than $1.3 million in follow-on funding. IDEAS projects have been carried out in more than 20 countries, serving the needs of thousands of people."

Take a look at some of the winning projects!

The Medici Effect Blog

Today, more than ever, it makes sense to start an enterprise with meaning. One of my favorite start-ups is one that is still young, but growing rapidly--and it was initiated by two women from my home-town of Linköping, Sweden. They had no clue about business--but plenty of heart, soul, motivation, and common sense. They also networked like crazy and understood their product and potential market extremely well.

Pernilla Molander wanted to help her visually impaired son to succeed in high school chemistry. That's the story.

You can read an excellent version of their story on The Medici Effect Blog.

And you can visit the company, BRIGHT of Sweden to learn more about this great company, its first product, and their plans for new products in the future.