Celebration, Send Off

With just two weeks before our departure for Haifa, Miles Gilburne of ZG Ventures graciously hosted a reception in honor of the Dingman Center’s Global Technology Entrepreneurship Fellowship.  This opportunity allowed our team to meet the donors whose contributions have helped make our summer experience a reality.  The host kicked off a round of speeches by welcoming us into his home and sharing his insight on the importance of entrepreneurship and innovation in succeeding in the business world.

Then, Dean G. “Anand” Anandalingam (or Dean Anand for short) of the Robert H. Smith School of Business provided a global context to the importance of what we are doing this summer.  From cross-cultural dialogue and international business experience to a hands-on lesson in innovation and entrepreneurship, he explained that our team is engaging in the type of practical learning that exemplifies the ideal 21^st century MBA education.

Before the night was through, Asher Epstein, Managing Director of the Dingman Center for Entrepreneurship and the leader of our trip to Israel, introduced the team and allowed us to formally present ourselves to the Dingman community.  Speaking in front of accomplished entrepreneurs and investors will be an everyday occurrence for our team this summer, so this was spot-on in terms of preparation.

Amos Cruz introducing himself with the team looking on

Our team left the night with a deeper appreciation of just what we will be tasked with this summer and its implications for our careers and professional development as well as its broader significance for the Smith School.  And while the takeaways were many, they can be summarized with the following:

We were told that no matter how hard we work, Israeli venture capitalists will find flaws in our business plans; this is the nature of early stage investing.  We were reminded that few startup ventures ever grow into full-fledged businesses; we must at once temper our expectations while still thinking big.  It was impressed upon us that only through hard work and creative thought will we succeed this summer.  But most of all, the experienced entrepreneurs expressed a sense of envy that they had not had the opportunity to immerse themselves in such a rich learning experience early in their careers.  I can speak for all of us when I say that this event truly set a positive tone for the 8 weeks that await us in Israel.

Preparations

In order to prepare ourselves for the challenges of tech transfer and venture capital that await us in Israel, our team of MBA’s has been preparing since January.  We began this process by researching the three primary technology sectors for the Israeli economy: agricultural, water and medical devices.  We wrote in-depth reports detailing the economic drivers, strengths and weaknesses and primary companies in each of these segments.  We shared the reports with one another and will continue to review them as they apply to our specific projects and the companies we visit.

With the basics under our collective belt, the team met with several experts who shared their breadth of experience on topics ranging from intellectual property law to Jewish business ethics to the technology commercialization value chain.  Their knowledge has provided us with a basis of understanding that will make the transition to doing business in Israel much smoother, and for that we are grateful.

Ann Liebschutz, Executive Director, US Israel Science and Technology Foundation 

Ann expanded on our conception of the Israeli business environment by sharing her experience in promoting collaboration between Israeli and US firms and researchers.  Specifically, Ann contributed to our team’s understanding of the role of the Office of Chief Scientist in technology commercialization and how Israel has been able to cultivate such a pro-startup business environment.  Understanding and leveraging the public funds and support available in Israel is a crucial factor for the survival and success of the nation’s startups.  There is no doubt that we will be able to apply Ann’s expertise in our own work this summer.

Rick Zitelman, President and Founder, The Zitelman Group

With teammates from the US, China, Taiwan, Brazil, and Nigeria, one thing our team does not lack is international experience.  Rick’s discussion on Jewish business ethics, however, exposed our team to a different perspective on business dealings as seen from the perspective of Jewish tradition.  As a venture capitalist with experience investing in early stage technology companies in Israel, Rick’s insights were pertinent and highly applicable to our experience this summer.

Rick Zitelman of The Zitelman Group

Miles Gilburne, Managing Member, ZG Ventures LLC

From researchers, to tech transfer officers, to venture capitalists and everyone in between, our task this summer will require us to satisfy a diverse group of stakeholders.  Miles Gilburne imparted more than 25 years worth of venture capital experience when he led a spirited discussion on the technology transfer value chain.  He dissected the complex web of individuals that we will encounter throughout the technology commercialization process and explained the unique motivations and goals of each player throughout the process.

Miles Gilburne of ZG Ventures