¿Porque tanto interés por parte del gobierno en promocionar a las startups?  La razon tiene que ver con el tema sobre el cual he escrito mucho: innovación digital.  Como Mark Zuckerberg, CEO de Facebook dice, cada industria tiene que ser “repensada” para tomar en cuenta lo que es posible con herramientas digitales como medios sociales.

En Colombia, veo buenas iniciativas para emprendimiento pero no vi nada realmente con esta visión de producir startups cuyo principal objetivo es ser empresa grande a traves de la innovación digital.  Esta es una de las razones que decidí que Colombia necesita trabajar con una incubadora global como el Founder Institute y entrar al “juego” de una vez con startups de talla mundial.

No es pequeño acontecimiento que la expansion regional del Founder Institute comienza por Colombia (y no Brasil, Argentina o Chile).  El primer grupo de emprendedores Colombianos comienza el 29 de abril y contará con algunos mentores CEO’s de EEUU.  El primer paso es indentificar los emprendedores con mayor potencial a traves de su aplicación y un examen especial que, en este momento, no tiene costo.

Si usted es o quiere ser (puede ser empleado en este momento) emprendedor digital con interés en estirarse (stretch) y lograr cosas impactantes debería aplicar ya mientras el examen no tiene costo.  Haga clic aquí para aplicar.

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Ahora, yo entiendo porque ella cuestiona esta decisión.  Obviamente, con lo que está sucediendo en terminos del gran crecimiento de start-ups é inversión en Argentina, Chile y, especialmente, Brasil, no es obvio porque deberá Adeo comenzar con Bogotá, Colombia.  Sin embargo, me encantó la respuesta de Adeo (la cual me lo mencionó hoy durante nuestra conversacion).  Su respuesta fué que sea lo que sea, Colombia ha respondido con mas personas que han aplicado al programa mas rapidamente que cualquier otro pais (una semana después del lanzamiento).

Es posible que la escritora tenga razón en su implicación que otros paises en la región son mas obvios como puntas de lanza pero prefiero pensar que Adeo va ser justificado en su decisión de comenzar por Colombia.  El cree mucho en este país y acaba de traducir casi todo el sitio al español precisamente para el semestre que se va dictar en Colombia. Por esta razón, les pido a todos los interesados (en todas las ciudades de Colombia) que apliquen al programa de una vez.

Para usted tiene un beneficio porque, si aplica ahora, podrás tomar un examen especial sin costo que ha sido tomado por empresarios por todo el mundo para medir su aptitud para emprender.  Mi instincto me dice que los Colombiano(a)s tienen una aptitud alta para ser emprendedore(a)s (mas de lo común).  Lo que les vendría muy bien es un poco de enseñanza en mejores practicas.  Ningún examen es 100% (este tiene una predictabilidad de 73%).  Sin embargo, el examen también dá buena retroalimentación general sobre sus fortalezas como potencial emprendedor(a).

Por el lado del programa, me parece que entre mas personas aplican esto demostrará la determinación de Colombia y los Colombianos en ser un jugador global en cuando a start-ups.  Tambien, nos dará un panorama mas completo sobre donde están los emprendedores de alto potencial en el país y cuantos hay en cada ciudad.  En otras palabras, el primer paso es la identificación.

Por el lado egoista, aunque me encanta escuchar sobre emprendedores de startups por toda America Latina, también me encantaría interactuar con mas de estos en Colombia donde vivo. Entonces, si está interesado en este programa, espero que tome acción y aplique ahora.

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Apple has all the freedom it wants in creating interesting new devices and software.  Nevertheless, when it comes to dealing with book publishers, studios and the like, things can seem a bit, shall we say, confining.  These companies are scared to death of a further squeeze on margins and having their valuable content swimming around on the Internet for free.

With the iPad, Jobs has launched yet another device for viewing all types of content including, now, books.  As more and more millions of users consume media on one or more of these devices, Jobs is creating a gated distribution system where he can experiment with different pricing schemes.  As more and more publishers, studios and music companies come on board and accept this state of affairs, it becomes harder for the remaining companies to hold out.

I’m sure some of these hold outs correctly understand the incredible power that could potential be in the hands of one company (Apple) and shudder.  However, as Jobs continues to add more consumers and more devices, these companies will find it more and more difficult to stay away from his massive distribution system.  The Apple media consumption ecosystem will only become more compelling as it’s pace of digital innovation accelerates.

It certainly is an amazing thing to watch.  While many executives understand from a theoretical level that things are changing (particularly in the media industry), Jobs understands what he needs to do to take advantage of what’s happening.  While many focus on specific nuances of each beautifully designed gadget that he launches, they risk losing the forest from the trees.

A major transformation is taking place before our eyes.  Content creation in the form of books, newspapers, movies, and music as a business has been bound to specific distribution businesses for many years. Sometimes they reside in the same legal entity (e.g., newspapers) and sometimes have ties to well-established distribution partners and Jobs is accelerating the transformation of these distribution channels (in many cases physical channels) into one digital bit stream.

In the process, the actual content will certainly be transformed.  Just as music companies are able to provide added content through iTunes; book publishers, newspapers and others will be able to provide added value through these new channels.  There will be many players vying for a role in this new ecosystem, but Steve Jobs, with a growing minion of subscribers to his media consumption platform (e.g., iTunes, iBook, Apps, etc.) will be a difficult force for the any media company to ignore.

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In my last post, I spoke about my conversation with Sridhar Vembu, CEO of Zoho Corporation, an innovative software company headquartered in the US, but with most of their employees based in India and China.   I wrote mostly about the ingredients of the company’s success.  In this post, I’d like to delve a bit further into Sridhar’s vision and philosophy and its applicability to Latin America.

While I was speaking with Sridhar, I was reminded of John Hagel’s book, The Only Sustainable Edge.  In it, Hagel mentions two important areas touched upon by the Zoho CEO. The first one has to do with Zoho’s ability to offer customers value at an affordable cost which is in synch with Hagel’s assertion that technology innovations are opportunities to “create more value at less cost.”  Zoho’s location, recruiting, training and company culture paired with its bet on cloud computing make are certainly aligned to a goal of creating more value at less cost for their customers.  Additionally, Hagel points out in his book that managing across two cultures “can create new opportunities to enhance performance by drawing on the best of both cultures.”  Certainly, this is not news to Sridhar who lives and breathes it every day.

In Latin America, many discussions on entrepreneurship center upon the disadvantages of the region when compared to the U.S. This runs the gamut from lamenting the scarcity of investment capital; the lack of the right human capital and other ecosystem and infrastructure components that are missing. As an aside, the same day of our talk, Sridhar actually wrote a post on his blog about the VC issue. However, anyone from Latin America who could listen to Sridhar speak about his particular voyage, would actually start to feel as though companies coming out of emerging regions such as Asia or Latin America are at a distinct advantage when compared to US companies. What a great perspective!

While players such as Salesforce.com, Microsoft and Google have solid and focused SaaS offerings, Zoho has been adding applications to its suite at a blistering pace.  Though the company’s user base also continues to grow, it’s only a fraction of Google’s user base.  Sridhar has heard this observation before and I’m sure can read between the lines of the sometimes veiled (sometimes not) insinuation that this means that they will eat Zoho’s lunch some day.  Nevertheless, I believe Sridhar is correct (at least for the time being) in asserting that Google’s rising tide can lift all boats floating in the SaaS “sea” since they are helping to educate customers on the value of these new SaaS offerings.

The company is profitable and is free to follow its long term strategy.  While the Google threat (and others) will probably get more palpable as time goes by, I agree with Sridhar’s view that companies don’t get killed by competition; they commit suicide. Nevertheless, one area where I believe that the company needs to improve is in its customer messaging or marketing in general.  For instance, instead of a list of applications on the homepage, it would make more sense to quickly set up customers depending on their specific vertical or business process.  Fortunately, this is precisely one of the areas for improvement that the company has targeted and openly acknowledges that it could do better on the marketing front.

Final Thoughts

I think it’s obvious that I truly enjoyed my conversation with Sridhar on a number of levels.  He mentioned that he is quite passionate about the topic of how emerging market companies can compete with companies based in developed markets, which is also a strong passion of mine.  During our talk, I got the sense that Sridhar has a firm conviction that companies from emerging countries can truly compete on equal footing with “marquee companies” and actually possess advantages that they need to leverage.    Hopefully, at a later time, I can speak a bit more in depth with Sridhar about the topic of digital innovation in emerging markets.

As a VC in my previous life, I had the opportunity to speak with extremely intelligent and capable entrepreneurs and investors.   After my conversation with Sridhar, I’m as impressed with him as with any other person I’ve met.   Different people are remarkable for different reasons.   For instance, Google’s founders had the insight to understand the need for organizing the world’s information with the oncoming, accelerated adoption of the Internet. Even more importantly, before they fully saw how big and successful they could become as a company with an actual business model, they jumped in and started solving the problem.

Solving such grandiose and ambitious problems is something that is handsomely rewarded and rightly so.  Nevertheless, there are a number of dynamics, which are creating the need for new types of companies:  ones that offer digital innovation at a lower cost.  New technologies such as cloud computing, virtualization and SaaS delivery provide the digital foundation.  Also, as it turns out, emerging markets such as Asia and Latin America, actually offer advantages that astute entrepreneurs can leverage.  As Zoho’s trajectory points out, to execute this correctly takes a number of competencies such as a clear vision, competent leadership, focused development of human capital and above all…patience.

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A couple of days ago, I had the opportunity to talk with Sridhar Vembu, CEO of Zoho Corp, a strong player in the SaaS software market. The company’s corporate headquarters are in Pleasanton, California and the majority of it’s about 1000 employees are based out of India and China.  These and other characteristics make Zoho and Sridhar, who has spent half his life in India and half (presently) in the states, an excellent model for digital innovation in Latin America.

First off, what really struck me about Sridhar after our chat was the balance of three key characteristics of his personality that came across:   1) His passion for the “people aspect” of building a business, 2) his practicality and incisive thoughtfulness and, finally, 3) an underlying, intense pride (in his people, what they’ve accomplished, etc.) and competitiveness.   Incidentally, my own opinion is that this type of open personality, high level of intelligence, balanced outlook and strong personal drive will be key leadership traits for achieving success in the coming years, but that’s a topic for another post.

I won’t go into a ton of detail about the company because there’s a wealth of information on their site and in other articles. If you want to delve deeper into the company’s history and Sridhar’s unique (and, in my mind, spot on) thinking about digital innovation in today’s context, check out Sramana Mitra’s excellent interview. In a nutshell, Zoho bet on cloud computing and the SaaS delivery model early and are just now really hitting their stride in the market with about 2M users.  Also, as a recent article in BusinessWeek Magazine states, Zoho competes with behemoths such as Google, Microsoft and Salesforce.com.  All this from a point in 1999 when, as Sridhar mentioned, they had one key goal: survival.  Now that’s a goal many small business people can identify with, but particularly, those in emerging countries such as in Latin America where capital is in even shorter supply.

So what happened after 1999 to garner them so much success?  It had nothing to do with getting Venture Capital (VC) funding since they’re a private company which has bootstrapped itself since the beginning.  Sridhar mentioned that their strategy has focused on depth of functionality, breadth of offerings, integration and support.  The integration focus is a boon to usability because they are able to integrate key functionality from their applications into the work processes of their customers.  Through “contextual information integration” things like email (even Gmail) are integrated with the CRM product so that customers can get their work done faster.

In terms of support, at least one person I referred Zoho to here in Latin America, has had an incredible experience in this regard.  Sridhar mentioned that part of their engineers’ training entails alternating time on the support lines as well as monitoring the support database helping them into the customer mindset from the outset.  In order to execute such a strategy, Sridhar mentions a trait that the company must possess: patience.  Patience to develop employees straight out of high school into productive professionals, patience to solve what Sridhar describes as the small business “IT problem” and patience to build an organization for the future.

What a terrific model for Latin American companies to follow.  There’s a ton of talent down here and, Sridhar and Zoho’s journey can be a lesson for many.   As he mentioned, Sridhar himself looked to a number of Japanese companies such as Honda as models to follow.  After WWII, Japan was a developing country (like India or all of Latin America) and through patience and dedication, they were able to achieve the economic and technological feats we take for granted today.  It’s important to note that modeling yourself after someone doesn’t mean cloning them and Sridhar has certainly adopted some characteristics of the Japanese model, but not all.

This last point is an important one.  Just this week I was in a meeting with some entrepreneurs when someone asked me if Colombia’s path to success was, among other things, in finding an instantiation of a Stanford University (the context of the conversation was the lack of an ecosystem in these countries such as exists in Silicon Valley).  I feel that Zoho’s example shows that you don’t need a carbon copy of another country’s ecosystem, you need to build on the strengths you have and, in Zoho’s case, that was patiently sticking to their strategy and building their organization.

Sridhar made a great point about the fact that in Silicon Valley there’s quite a bit of talent to choose from no matter what expertise you need.  It seems to me, Sridhar has taken a disadvantage in emerging markets (scarce talent pool with world-class expertise) and converted it into an advantage. By giving young people without a college degree a chance to successfully prove their mettle and compete with international powerhouses such as Google and Salesforce, Zoho benefits from the resulting highly committed, passionate and dedicated group of employees it is nurturing.  Aside from this, such a highly motivated group of collaborators injects much energy into the company and, according to him, “keeps [him] young”

In tomorrow’s post, I’ll delve further into Sridhar’s vision and philosophy and its applicability to Latin America.

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