Jeff Pulver: Time for a NEW Kind of Entrepreneur

January 6, 2009

 

p1000281From The Jeff Pulver Blog

Startups in 2009: Time for a NEW Kind of Entrepreneur

After reading the recent TechCruch story: “Oy Vey! Israeli VCs Exceptionally Gloomy on 2009, I feel it is necessary to share another side of the Israeli Hi-Tech business scene. I am not suggesting that times are great at the moment, but they are not as bad as one might think after reading the Deloitte report.

In reality, regardless of the state of the economy, people continue to get inspired and technology innovation will continue to happen. This in turn leads to the launch of a new startup.

When times are great, there is usually money available to fund all sorts of Hi-Tech startups. And when things are not so great, raising money is much harder. The worldwide economic funk of 2008 is responsible for an emerging trend in the Hi-Tech startup world I first saw in Israel in 2008 which has resulted in what I can only describe as the birth of the “NEW Entrepreneur.”

The NEW Entrepreneur is someone who has a decided to “do a startup” by partnering with one or more of their friends who understand the concept of bootstrapping from the very beginning. The startup team are people who watch each other’s back, are aware of their individual strengths and weaknesses and in effect are there to provide a sense of balance for each other. These new Entrepreneurs understand that they can’t rely on outside funding to get their company started so they need to do whatever is necessary to make their vision and dreams come true on their own.

The NEW Entrepreneurs know how to turn pennies into dollars and a dollar into a hundred dollars. For the record, such people exist and have been doing just this in the Israeli Hi-Tech scene. During 2008 I had a chance to meet up with quite a number of these NEW Entrepreneurs.

NEW Startups realize they can’t start a business that will have a high burn rate or a strong dependency on outside money. They realize that whatever money they may be able to raise from their friends and immediate family members might be the only money they will be able to raise for the foreseeable future. So startups in 2009 may look a lot different than in previous years. What I am seeing starting to emerge are “lean and mean” startups from the very beginning. It turns out that while the economy may not be in everyone’s favor, thanks to the continuing affects of Moore’s Law and the sheer disruptive power of the Internet, it is possible to start companies these days with just raw talent, vision and the innate ability to deliver on the vision.

For full post

Picture: Jeff Pulver at “US-Israel Web 2.0 Business Exchange” in Atlanta (September 2008)

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Jeff Pulver: I don’t care what they say about crisis

December 12, 2008

Jeff Pulver helped draw a large crowd when he spoke at AICC’s US-Israel Web 2.0 Business Exchange in September 2008. He also attended the US-Israel New Media Business Exchange in 2007. Thank you Jeff for your support of  Israeli Technology and AICC activities.

Jeff Pulver: I don’t care what they say about crisis
“Just remember that even Google was founded during the previous crisis.”

Globes Online
 11 Dec 08 

Famed US angel investor Jeff Pulver, who has invested in a number of Israeli companies, such as Innovid Media Ltd., SemantiNet Ltd. and Kayote Networks Inc., is one of those people who remain unfazed by the current economic crisis. “I don’t listen to pessimistic statements, and I’m not bothered by the things other people have been saying about the financial crisis,” he told “Globes”, in an interview ahead of his visit to Israel to attend the “Globes” Israel Business Conference.
“What is true is that when people start panicking, they freeze, and in cases like these, the chances of companies surviving are smaller. Investors too are using the crisis as an excuse since the opportunities are still there. Just remember that even Google was founded during the previous crisis, so I think that the crisis actually encourages creativity among entrepreneurs, especially when there are fewer resources.”

Full interview – http://www.globes.co.il/serveen/globes/docview.asp?did=1000406607&fid=942


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