Hehe, it seems I writing this blog without hoping other people to see it. Haha…but I am blogging to keep on remember those interesting, which I foresee will really help me in when I am depressed. Like the song, “When you believe” sang by Whitney Houston and Mariah Carey.
Now we are not afraid
Although we know there's much to fear
We were moving mountains long
Before we knew we could.
Today, I went to a seminar talk, by Dr. Po Chi Wu.
Biography of Po Chi Wu, Ph.D.
Dr. Po Chi Wu is currently an Adjunct Professor in the School of Business at the Hong Kong University of Science & Technology. He is also a Visiting Professor and co-founding Executive Director of the Global Innovation Research Center, under the School of Software & Microelectronics, Peking University and an Adjunct Faculty at the University of San Francisco. Having been a highly successful international venture capitalist and entrepreneur who has lived and worked both in the United States and in Asia, he brings more than 30 years of experience and insight into the challenges of innovation and entrepreneurship. His work has led to a useful framework to evaluate individuals, teams, and projects - The 5 P’s: Preparation, Patience, Perseverance, Persuasion, and Productivity.
Dr. Wu is a co-founder and Managing Director of DragonBridge Capital, an investment advisory firm that focuses on “Cleantech”, information technology, and the life sciences in China. Previously, he was a co-founder and President of Allegro Capital, a successful venture capital firm in Silicon Valley. Before that, he was a partner at Advent International Corporation, then one of the world's largest international firms, where he opened and headed the California office to manage investments in Asia and in the US. His career began in late 1985, when he was invited to establish a venture capital subsidiary of what is now China Development Industrial Bank in Taiwan.
Dr. Wu has lectured at Peking University, Sun Yat Sen University, Mundell International University for Entrepreneurship (Beijing), University of California at Berkeley, University of San Francisco, and Stanford University. He has also been: Advisor to the Guangzhou Municipal Board for International Investment, Director and former President of the Chinese Software Professionals Association (Silicon Valley), a Trustee of the Asian Art Museum of San Francisco Foundation, and a member of the Advisory Board of the Institute for Genetic Medicine at the University of Southern California. For almost 10 years, he was a guest Lecturer in the School of Engineering and served on the Advisory Council of the Lawrence Hall of Science at UC Berkeley.
Academic Background: Post-doctoral research and Ph.D. in Molecular Biology from Princeton University (1972) and B. A. degrees in Mathematics and Music from the University of California at Berkeley (1966). Po Chi Wu’s family includes several generations of illustrious scholars. His great grand-father was a Hanlin Scholar in the Ching Dynasty. Dr. Wu’s father, Professor Wu, Ta-You, retired from the Presidency of the Academia Sinica in Taiwan at the age of 88. Professor Wu’s epitaph was: “The Father of Modern Physics in China”.
He shared a few points.
Innovation/Entrepreneurship
What does innovation/entrepreneurship involve?
- Starting point for entrepreneurship
- Looking for/creating new opportunities
- Driven by market awareness
- Enabled by technology
- Supported by compelling business model
- Executed by competent team
- Inspired by charismatic leader
Success Factors
What does it take for an entrepreneur to be successful?
- High-bandwidth ability to perceive – peripheral vision
- Interpersonal communication skills
- Ability to source, synthesize actionable information
- More qualitative and less quantitative approaches
- Insight from looking at “boundaries”
- Focus on fundamental human/society interaction issues
His joke was, a typical engineer will not be an entrepreneur by natural trait, as they have rigid way of thinking, overly focused on what they do. While an entrepreneur needed to leverage anything, literally anything in order his business to be success.
Entrepreneur is people with broad view of analyzing, multi-cultural, curiosity and people oriented.
· They have high bandwidth ability to perceive-peripheral vision, have insight on defining their ‘boundaries’.
· They bravely seek challenges and fail fast frequently.
· They see failure as signal to open their eyes and mind.
· They enjoy the pleasure of experimenting in groups.
· They analyze, reflect, and share to get new viewpoints.
· They have fundamentals. Eg from school, reading, etc
· They are highly effective learner. Eg learn from others, themselves and learn by doing.
Dr Wu emphasize on, forming a competent team will be utmost important task. People are the most important assets that you could have. Cycle of failure and success is inevitable, but successful people will take advantage of their failure and learn from it, grow from it.
He shared that, those entrepreneur usually was not so successful and ask for more funding. Some able to pick up by changing leadership, and they believe, have perseverance and smart.
Fuh, I learn a lot after this 2 hours talk. I goal is, being a engineer that do not possessed the typical engineer like mindset.!!!
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