It’s one of the anomalies in global statistics: South America is home to the world’s highest proportion of entrepreneurs, yet their presence doesn’t often translate into global innovation or broad-based wealth creation.
Chile has been eager to change that reality. And, it seems, its efforts are starting to bear fruit. Several Chilean-bred tech companies have recently been acquired by venture capital funds, and three Chilean-focused VCs vowed to invest some $67m in Chilean companies this year. Is Chile really becoming “Chilecon Valley”? Continue reading »
A quarter of the world’s 161m blind and severely visually impaired people live in India, according to Sightsavers, the international charity.
Combine that with the fact that India is buzzing with technology and entrepreneurship, and it makes sense that the world’s first Braille smartphone is being developed in the country. Continue reading »
By Justin Vela
With 4 per cent growth likely in 2013 and a young, educated population powering the economy forward, Turkey makes an attractive prospect for those seeking new horizons.
But entrepreneurs coming from abroad who don’t know how to navigate the market are likely to be frustrated. Two such arrivals tell beyondbrics their stories. Continue reading »
President Raúl Castro wants the recent liberalisation of small businesses to bolster Cuba’s sagging economy and absorb the 1m state workers he says will eventually be laid off.
But Cuba’s budding micro-entrepreneurs – over 350,000 had registered as of November 2011 – lack almost everything that start-ups need, from premises and relevant skills to capital. Will they ever really get off the ground?
A bustling restaurant in Havana’s colonial centre – which opened in January 2011, is appropriately called “La Moneda Cubana”, the Cuban coin, and is run by Miguel Ángel, a 37-year old entrepreneur - suggests some answers. Continue reading »
The Chinese wealthy are facing a problem that the rest of the world would love to have: they do not know what to do with their self-made riches.
China’s first generation entrepreneurs are worried that their children will ruin the family business that they gave their lives to build – and the kids are none too keen to run it anyway. Continue reading »
Márton Szõke , a Hungarian entrepreneur and angel investor, learned his trade the hard way. “When I started my first business, I was a fool. In hindsight, I probably wouldn’t have started it.” Nevertheless, he made enough money “to burn most of it in my second venture, which failed.”
But next time round, Szõke got it right and a few years later he sold Indextools, his analytics software company, to Yahoo! and made his first bundle. Continue reading »
Want to get rich quick in China? In Beijing’s anti-corruption drive, some entrepreneurs have seen unusual business opportunities. Take the story of four young men from Hunan, who hatched an unusual plan, recently recounted by state-run newspaper People’s Daily. Continue reading »
India’s economic boom has given life to a new “caste” of uber-rich risk-takers that are set to become even wealthier over the next decade.
A report called “Top of the Pyramid” by Kotak Mahindra Bank, a Mumbai financial group, and Crisil, the Indian ratings agency, said households with a net worth of Rs250m ($5.6m) would triple within five years to 219,000 on the back of economic growth. What’s most interesting is that many of these families will be headed by risk-on entrepreneurs, not the safety-first conservatives that have long dominated India’s rich lists. Continue reading »
Entrepreneurs often grab the popular imagination through the sheer scale of their achievements. Think Steve Jobs, Mexican billionaire Carlos Slim or Russian tycoon Oleg Deripaska. But the millionaires can be as interesting as the billionaires, especially in key sectors in emerging markets.
Meet Olivia Lum, Ernst&Young World Entrepreneur of the Year 2011, founder of one of the world’s largest water treatment companies, as the FT reported on Tuesday in its special report, Understanding Entrepreneurs. Continue reading »
Ratan Tata, chairman of the Tata Group and doyen of Indian business, is 73.
But a younger breed of entrepreneur is beginning to break the mould that you have to be old to get to the top in India. Sindhuja Rajamaran, is celebrated in her home country as one of the world’s youngest chief executives. She is 14 years old. Continue reading »
The annual of Russian Forbes rich list reads like a who’s who of Rublyovskoye shosse, Moscow’s wealthiest drag, and London’s Belgravia. At the very top of the list are old favourites: Mikhail Prokhorov, Oleg Deripaska, Alisher Usmanov, Roman Abramovich.
But look a little further down and you’ll see the name of Deni Bazhaev, Russia’s youngest multimillionare on the list at the tender age of, gulp, 15.
Continue reading »
Russia may have been at the bottom of the Bric league as a direct investment destination last year, but it topped the bill for most number billionaires in the group on the most recent Forbes rich list.
Russia accounts for 15 of the world’s 100 richest people, more than Brazil, India and China combined, according to Forbes latest annual rich list published today. Continue reading »
By Alan Rappeport in New York
The Brics have beaten Europe when it comes to billionaires. It was the first time since Forbes began tracking the wealthiest people on the planet 25 years ago that Brazil, India, Russia and China collectively overtook Europe.
The emerging market kingpins have come a long way in the last 10 years. Back in 2001, the four countries were home to just 20 billionaires, while Europe towered over them with 144. But thanks to the boom of the past decade, the picture is much different today. Continue reading »
The family dispute over the fortune of Stanley Ho, the 89-year-old gambling tycoon, follows a string of rows in Asian family-run businesses.
In Hong Kong alone, there have been arguments between billionaire Li Ka-Shing and his son, Richard Li, and among members of the Kwok property family. In India, the Ambani brothers fell out after their father’s death before seemingly trying to bury the hatchet in recent months. But such battles are not limited to Asia: many a wealthy American and European family has fallen out over money. Continue reading »
Martin Lukes, the FT’s fictional business-leader (now sadly deceased), would have loved the Celebration of Entrepreneurship conference being held this week in one of Dubai’s plushest convention centres.
Guests have been discouraged from wearing suits and ties to reflect the “unconventional and energy generating” atmosphere, and invited to attend “passion corners”. Speakers will share inspiring stories in an “informal, highly interactive and unencumbered” setting. But the conference’s faddish presentation belies its serious subject: how can the Arab Gulf help aspiring entrepreneurs? Continue reading »