STRAMGT547

Today, innovative ventures in developing economies are providing compelling new products and services to a growing middle-class as well as to the lower part of the economic pyramid. These offerings provide consumers ways to better their lives and companies to grow their businesses. As older industries around the world are being disrupted, and entrepreneurial ecosystems in developing economies are evolving, entrepreneurs and investors now have reference points and 'basecamps' to explore unique opportunities. These newly formed networks that include universities, incubators, accelerator programs, angel investor organizations and small venture capital firms are still lacking in breadth and depth, despite their attempts to follow the lead of Silicon Valley. Consequently, investors and founders face distinct and more numerous challenges that they would not encounter in Silicon Valley, such as small local markets, lack of scale-up funding, uncertain exit opportunities, inadequate talent pools and complex legal and political environments.Yet these developing economies are growing and becoming more connected. We are witnessing new technology-based products in these locations allowing problems to be solved at a scale never seen before. AI and machine learning, blockchain, smart sensors, IoT devices, natural language interfaces and AR and VR are just a few of the technologies not only being developed in Silicon Valley, but all over the world. Of course, smartphones, with their multi-faceted sensors, are now becoming ubiquitous. These trends present opportunities such as: replicating business models proven elsewhere; leapfrogging legacy technologies; targeting the base of the pyramid; and starting venture capital firms. Despite this fertile ground for new endeavors, success not only requires an exceptional product/market fit but great execution to start and scale a venture in problematic and sometimes adverse environments.This case-driven course is designed to help students identify new opportunities in developing economies around the world and across industries and to expose them to the challenges they will face. It is targeted at students who are thinking about creating, joining or investing in new ventures in developing economies.The cases and guests will reveal entrepreneurial challenges through the eyes of founders and investors who have seized these opportunities at different stages of the venture: ideation, launch and scaling. This course is designed to showcase innovative companies in high growth industries such as consumer internet, financial services, health care and education. It will feature the latest trends and opportunities in Asia, Eastern Europe, Middle East, Africa and Latin America. By taking this course, you will be better equipped to observe, explain and participate in developing economy ecosystems and the opportunities and challenges they present.