Warren Buffet to
Barack Obama:
“Take me as an example. I happen to have a
talent for allocating capital. But my ability to use that talent is completely
dependent of the society I was born into. If I’d been born into a tribe of
hunters, this talent of mine would be pretty worthless. I can’t run very fast,
I’m not particularly strong. I’d probably end up as some wild animal’s dinner.
But I was lucky enough to be born in a time and place
where society values my talent, and gave me a good education to develop that
talent, and set up laws and the financial system to let me do what I love doing
– and make a lot of money doing it.”
In
developing countries like China, India or Mexico, generating social capital[1]
such as organizations, efficient value chains and a business-friendly
regulatory environment is a prerequisite to generate sustainable jobs and
economic growth.
In
order to compete globally producing and exporting to the developed world organizations
must operate in a business ecosystem[2]
that meet what World Bank’s Doing
Business Ranking (DBR)[3]
standards in order to attract global clients and international direct
investment..
Incubator universities actively create social capital by
incubating[4]
and “graduating” not just individuals, but organizations organizing them in
clusters and ecosystems[5].
The incubator university operates
as a “hub” at the very center of rapidly growing economic regions such as
Silicon Valley and route 128 in the United States, Silicon Fen in England,
Silicon Wadi in Israel, the Special Economic Zones in China or the
university-centered cities like Bangalore in India.[6]
Incubator universities also play
the rol of a “keystone[7]”
in their regional ecosystems, anchoring and supporting clusters of new
startups, attracting larger firms and providing employment to their graduates.
The incubator university revenue
comes not only from tuition, R&D grants and intellectual capital but from
the incubation and acceleration fees charged to the companies that the
university incubates and place into the market.
Incubator universities operate also
as fund raisers for the companies and organizations they develop, attracting
direct investment and organizing “angel
capital” networks for new startups.
Senior faculty and graduate
students provide critical consulting and planning assistance, helping organize
competitive and viable organizations, providing business expertise, technology
and intellectual capital to develop competitive products and services and
position brands in strategic target markets.
Incubator universities develop new
organizations from the drawing board to the IPO, helping to develop strategic
and business plans, design and setup the organization and management
–incubation- and placing the company products and services in the market.
Figure 2: Incubator university process
An
incubator university measures its success in terms of three kinds of results: students’ graduation, intellectual capital produced
by research and social capital –organizations incubated, organized in clusters and
ecosystems and placed in the market-.
Figure 3: Incubator university business model
In
this business model, the university collects revenue from multiple sources:
tuition from students, intellectual capital, incubation and acceleration fees
and revenue from organizations.
Graduates
job placement is part of the university role, through the process of creating
new companies (incubation) that hire its graduates and placing those
organizations in the market (acceleration)
|
[1] (Bernardez, Capital
Intelectual: creacion de valor en la sociedad del conocimiento (Intellectual
Capital: value creation in the knowledge economy), 2008)
[2] (Bernardez, The power of entrepreneurial ecosystems: extracting boom from
bust, 2009)
[3] (World Bank, 2007)
[4] (Barrow, 2001)
[5] (Iansiti & Levien, 2004) (Saxenian,
1994)
[6] (Bernardez, The power of entrepreneurial ecosystems: extracting boom from
bust, 2009)
[7] (Iansiti & Levien, 2004)
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