Research: Peer Effects and Entrepreneurship.  When it comes to starting a business, it does matter who you know. New research from Harvard Business School’s Ramana Nanda and Stanford’s Jesper Sorenson examines how one’s career path affects one’s propensity to start a business. They find that an individual is more likely to become an entrepreneur if one’s co-workers have started a business in the past or if their careers have involved frequent movement between firms. The effects are strongest for those who do not have family members with entrepreneurial backgrounds. In this case, the experience of co-workers can sometimes substitute for effects of family background.  Click here to download Peer Effects and Entrepreneurship.

US Angel Investing Outlook:  Angels Cautiously Optimistic About 2008:  Despite a slowdown in the national economy and static angel investment activity levels for 2007, angel group leaders expressed optimism about the climate for investments in early-stage businesses in 2008 in a recent survey by the Angel Capital Association (ACA). Nearly 55 percent of the respondents said that the number of investments and total dollars invested will increase this year, with another 32 percent believing that the activity would be the same as 2007. Predictions for positive exits were not as rosy. Fifty eight percent of responding angel group leaders did not think there would be any visible change in opportunities for acquisitions of their portfolio companies or Initial Public Offerings this year, after fewer angel groups experienced positive exits in 2007 compared to the previous year.  Click here to access the 2008 Angel Group Confidence Report.

Publication: Engineer Treads Water.  An acquisition spree and a strategy realignment may finally start to pay dividends for one tech start-up. BRW Feb 7-13 2008

Publication: Unlucky Laser.  Australian-listed Silex Systems has experienced a sharp fall in its share price. In May 2007, the company licensed its uranium enrichment technology to GE. BRW Jan 24 2008

Event: Capital Angels Meeting December 10 mtg Canberra.  Enquiries to dmalloch@capitalangels.com.au

Event: Biotech Investing Conference November 5-6 SRI International Menlo Park, CA
This conference is focussed on financing the biotechnology and biopharmaceutical industry and discusses trends in private and public funding, innovative business strategies, new alternative partners, and the impact of global competition. Details

Event: Investing in Tech Transfer & Early Stage Conference October 17-18 Boston University Boston, MA.  Venture Capitalists and corporations are identifying promising technologies in research labs at universities, medical centers, and government agencies for spinouts and commercialization. The conference is focused on starting, building and financing technology based spinouts. The event is different from annual association meetings because the event unites tech transfer executives, venture capitalists and corporations for open and honest dialogue on investing opportunities, term structures and deal partnerships. Details

Event: Capital Angels Meeting October 24 mtg Canberra.  Enquiries to dmalloch@capitalangels.com.au

Event: Capital Angels Meeting August 29 mtg Canberra.  Enquiries to dmalloch@capitalangels.com.au

Publication: The right direction.  Getting the appropriate directors and board members in place and keeping them there is imperative for a company to run smoothly. BRW March 1 -7 2007, published with permission.