Some Thoughts concerning New Venture Creation Process

Technological innovation and entrepreneurship are dramatically changing the global economic landscape. These forces operate in the framework of open markets, government deregulation and privatization, together with recent concerns for the human condition, good governance, environment preservation, gender balance, and growth with equity.

Low-cost communications are also helping to make markets more transparent, allowing buyers and sellers to compare costs and prices in different countries. As the importance of locational and transport economics fades, the big winners will be technically savvy service businesses that are able to compete directly on price and quality

Free trade and open markets have encouraged the emergence of a true middle class in many industrializing countries. This new force is likely to alter the social and economic landscape in their own countries and worldwide. It constitutes both a reserve army of potential entrepreneurs as well as a large and lucrative domestic market for them. Of course, foreign multinationals also have their eye on this market, and their desire to tap it is another major force driving globalization. It can be argued that market efficiency and globalization are good, but not good enough, not for those who like the young and infirm within a family have to be given special nurturing till they become strong enough.

A torrent of technology-based goods, services and processes hits the market every week, improving the quality of lives in some ways while also creating complexity and dislocation.

Information technology - the pace of progress in information and communication technologies (ICT), microelectronics, biomedical sciences, nano-technology, robotics, new materials, space and other advanced fields continues to quicken, and in turn, to change the way we live and work. The inflation-adjusted cost of computing power, for instance, has been falling by about one third per year for the last two decades while the declining cost of communications is breaking down the natural barriers of time and space that separate markets. The number of Internet users has risen from 20 million in 1995 to 400 million in 2000, while websites have grown from 10 thousand to 20 million in the same period.  Despite this – and partly because of it – the digital divide between information-haves and have-nots is widening.