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Open Innovation is a term promoted by Henry Chesbrough, a professor and executive director at the Center for Open Innovation at Berkeley.A classic open innovation principle states "Not all the smart people work for us. We need to work with smart people inside and outside our company"
Capacity Talk features content provided by: Stanford Technology Venture Program
"Located in the heart of Silicon Valley, the Stanford Technology Ventures Program (STVP) is the entrepreneurship center at Stanford University's School of Engineering. Our research efforts tackle the challenges of creating successful ventures and innovative large firms."
Building Blocks: The Frame
This website is a work in progress - an open lab for presenting foundational concepts and research aimed at establishing a creative economics platform for venture investing. The frame is set, sheet rock cut and positioned, will be painting soon. As building progresses, this section of the site will feature excerpts and links introducing a series of white papers outlining concepts, methods, and practices of Fronde Baliste.
Featured Excerpt: Building Capacity in Underserved Communities: Funding MissingMiddle Innovation
"Fronde Baliste is creating a platform for collaborative innovation in underserved communities.
The goal is to demonstrate the same impact\outcomes are achieved if investors and philanthropists funding global missing middle initiatives redirect capital to invest in targeted domestic - creative economics initiatives;
The missing middle refers to a gap in access to capital that occurs at a crucial stage in the development of new businesses.This funding gap exists at the stage of development where opportunity and uncertainty are both high.Any measure of the risk of a single investment in a new concept at this stage of development is a guess at best.
In territories that have not had equitable access to formal capital markets, the missing middle gap is recast, referring instead to the gap in access to capital required to move from subsistence microfinance to sustainable entrepreneurship.
The level of uncertainty, in this shifted gap, can only be decreased by capital that supports experimentation. This investment must also be patient in encouraging learning after failure, letting reslience and creativity run their course, discovering ways to meet demand in markets, that are 'new' by virture of long history of being underserved. "
The term Fronde is most often associated with "revolt of the judges,"and French feminist Durand.Its use here is with respect to the simpler meaning, to "sling" or accelerate motion in a given direction. Similarly, baliste translates to catapult. Together, they signify targeted, rapid, high impact; an excellent metaphor describing the investment strategy Fronde Baliste employs in bringing the idea of hybrid venture investing to life in the structure and design of social capital funds.
" we will foster diverse creative and imaginative economies.. ....vibrant places... ...that allow our businesses and workers the best opportunities to innovate and succeed..." President Barack Obama, Conference of Mayors, February 2009