The role of international entrepreneurial networks in cyberspace. School of Business Administration International Business Department MIB - International Entrepreneurship Prof. Sascha Fürst presented by Sonia Patricia Osorio Giraldo Sandra Ospina D´Alleman Juan David Duque Arredondo Alexander Zehnder

1. Schoolof Business Administration International Business Department MIB - International Entrepreneurship Prof. Sascha Fürst presented by Sonia Patricia Osorio GiraldoSandra Ospina D´Alleman Juan David Duque Arredondo Alexander Zehnder Entrepreneurship 2.0 The role of international entrepreneurial networks in cyberspace Medellín, March 29th 2011

2. Agenda This is what we are going to present tonight Introduction 1 Social Networking and Web 2.0 at a glance 2 Institutional or personal ? 3 4 Influence and impact on Entrepreneurs 5 Examples of Entrepreneurial Networks in Cyberspace 6 Conclusion 7 Bibliography

3. 1 Introduction 2 Social Networking and Web 2.0 at a glance 3 Institutional or personal ? AGENDA 4 Influence and impact on Entrepreneurs Alex 5 Examples of Entrepreneurial Networks in Cyberspace Alex 6 Conclusion Sandra Templates 7 Bibliography Juan 2 Sonia Sandra Entrepreneurship 2.0 The role of international entrepreneurial networks in cyberspace Medellín, March 29th 2011

4. Cyberspace Some examples of public definitions Definitions «Cyberspace is a imagined space between computers in which people might build nwe selves and new worlds.» Bell, David (2001) «A new universe, a parallel universe created and sustained by the world’s computers and communications lines. A world in which the global traffic of knowledge, secrets, measurements, indicators, entertainments and alter-humen agency tasks on form: sights, sounds, presences never seen on the surface of the earth blossoming in a vast of electronic light.» Routledge(2000)

5. Cyberspace comparison Similarities? Cyberspace Cyberspace MNE Social Networks Members Support and Administrators Programers Sites Content World Continents Countries Citizen Government Constructors Buildings Goods Real World 1 2 3 4 5 6 7 8

6. Cyberspace concept Based on Network of Networks Standardized electronic communication platform which INTERCONNECTS DIFFERENT NETWORKS Internet The location where actions happen and events take place. Space The cyberspace is the virtual room or space where people and systems interact and communicate. It is based on networks that are bridged together ending up as one network of networks also called “Matrix”. Cyber-space

7. Virtual Reality CLICK THE LINK BELOW TO SEE OUR DEFINITION OF CYBERSPACE: http://www.youtube.com/watch?v=TJ0YUmwwO9M People acting in Cyberspace

8. 1 Introduction 2 Social Networking and Web 2.0 at a glance 3 Institutional or personal ? AGENDA 4 Influence and impact on Entrepreneurs Alex 5 Examples of Entrepreneurial Networks in Cyberspace Alex 6 Conclusion Sandra Templates 7 Bibliography Juan 2 Sonia Sandra Entrepreneurship 2.0 The role of international entrepreneurial networks in cyberspace Medellín, March 29th 2011

11. Lots of information… but WHO validates it?

12. 480

13. The biggest Social Network Over 500 million active users in 2010

15. The Cyberspace Map of SN

16. 1 Introduction 2 Social Networking and Web 2.0 at a glance 3 Institutional or personal ? AGENDA 4 Influence and impact on Entrepreneurs Alex 5 Examples of Entrepreneurial Networks in Cyberspace Alex 6 Conclusion Sandra Templates 7 Bibliography Juan 2 Sonia Sandra Entrepreneurship 2.0 The role of international entrepreneurial networks in cyberspace Medellín, March 29th 2011

17. “The media is the message” Marshal Mc Luhan Which is the message of the internet media? ”Globalization” How is globalization spreading? Through networks! Which are the characteristics of those networks?

18. Institutional or personal? New possibilities to build connections Personal Institutional 1 PERCEPTION ENVIRONMENT SOCIAL AND FAMILY TIES COLABORATION CO - CREATION LIFE – CYCLE: PRE – START UP STABLISHMENT GROWTH 2

20. Develop new business connections

21. Maintain relations.

22. Give out information.

24. To show what they are doing: events, children, trips, life changes (image) .

25. To see what the others are doing.

26. To connect with new people.

28. Networks in cyberspace According to Yan Haas, in Colombia: 17.1% Search new contacts 96.3% Facebook 25.6% Share info 20.7% Twitter 87.8% Maintain contact 3.7% LinkedIn

29. 1 Introduction 2 Social Networking and Web 2.0 at a glance 3 Institutional or personal ? AGENDA 4 Influence and impact on Entrepreneurs Alex 5 Examples of Entrepreneurial Networks in Cyberspace Alex 6 Conclusion Sandra Templates 7 Bibliography Juan 2 Sonia Sandra Entrepreneurship 2.0 The role of international entrepreneurial networks in cyberspace Medellín, March 29th 2011

31. Access tofinance

32. Access to skills, knowledge and advice

33. Social legitimacy

34. Reputation and credibilityEntrepreneurship literature has changed from viewing entrepreneurs as autonomous and rational decision makers 1 2

35. Influence and impact on Entrepreneurs Types of Capital Is the knowledge and capacity within human beings Human Capital Is the money in people’s pockets Financial Capital. Is the value of resources generated by people’s social networks Social Capital.

37. Entrepreneurial intention

38. Entrepreneurial orientation

39. The vocational decision to become an entrepreneur- growth

40. Embeddedness and entrepreneurialparticipation Peopleembedded in networks containing entrepreneurs tend to be more entrepreneurial oriented. People who have close family members in business or personally know someone who has started a business seem to have a better chance of becoming entrepreneurs.

41. Impact of Social Networks Study on Xing’s Network H1: The higher the cohesiveness of an alumni network defined as the ratio of internal links to external links, the higher the probability for its aggregated entrepreneurial success. H2: The higher the centrality of a university alumni network, the higher the probability that the aggregated entrepreneurial performance of the alumni network is comparatively high. H3: The higher the centrality of an entrepreneur, the higher the probability that she or he is successful in comparison with other entrepreneurs. H4: The better connected an entrepreneur is with peers of her or his alumni network compared to links with outside peers, the higher the probability that she or he is successful.

42. Data: For the analysis they focus on 12 German universities, 654,193 users and 4,456,393 relations Data Collection

43. To measure the success they picked 80 founders from each university. EconomicImpact

44. CompanySuccess

45. Network structure and group measures full founder network of all 12 universities, each actor has at least 5 connections. 15,143 are founders and alumni 130,390 are their Xing friends

46. Network structure and individual network position Full network of the EBS alumni, : EBS actors : non-EBS actors

48. Thereis significant correlation between tribal group betweenness centrality and economic impact per founder

49. The more densely connected the actors in the tribal network are, the better is the university in getting students out, and in creating startups that are financially successful.

50. It pays off to be an “incestuous” community and that creating a university with a strong in-group feeling promoting strong bonding among alumni is a means to success.Results Network structure and group performance

52. A successfulentrepreneur has proportionally more links with other alumni from her/his alma mater than with outside people.

53. The highly significant correlation between individual degree, i.e. total links of an entrepreneur and her or his success in running the business means that having many Xing friends is an indicator of business success.

54. The higher a founder’s embeddedness with the own tribe, the more successful she or he is in building up the business.

55. thatthemostsuccessfulfounders have proportionally somewhat more links to the outside world than within their own tribes than founders onsuccesslevel 4.Results Network structure and individual performance

56. 1 Introduction 2 Social Networking and Web 2.0 at a glance 3 Institutional or personal ? AGENDA 4 Influence and impact on Entrepreneurs Alex 5 Examples of Entrepreneurial Networks in Cyberspace Alex 6 Conclusion Sandra Templates 7 Bibliography Juan 2 Sonia Sandra Entrepreneurship 2.0 The role of international entrepreneurial networks in cyberspace Medellín, March 29th 2011

57. Facebook Examples Entrepreneurs Networks Web 2.0 (Entrepreneurs) Size: 63,036 members Category : Internet & Technology - General Interest: This group is for individuals interested in being part of the next web business boom. Anyone can join. We especially encourage those technically gifted individuals: programmers, hackers, developers, designers, etc. who are interested in joining up with new startups. http://www.facebook.com/group.php?gid=2208499259&v=wall Entrepreneurs Size: 20,794 members Category: The Entrepreneurs Page on Facebook is a place for entrepreneurs to meet and share ideas and resources http://www.facebook.com/entrepreneurs.page#!/entrepreneurs.page?sk=info

58. Facebook Examples Entrepreneurs Networks ENTREPRENEURSHIP IBEROAMERICA Size: 3,821 members Mision: La misión es la de apoyar, motivar, orientar, estimular y canalizar las iniciativas empresariales de los jóvenes emprendedores de Iberoamérica. Consideramos necesario potenciar la presencia de empresarios bien formados, competitivos, capaces de diseñar estrategias de eficacia económica y de aprovechamiento de sinergias, para afrontar con garantías el marco competitivo de la región. Estableceremos una estrategia integral de apoyo a estos emprendedores. http://www.facebook.com/pages/ENTREPRENEURSHIP-IBEROAMERICA/54478040852?sk=info Emprendimiento Size: 962 Members Description: Spaceforyoungpeoplewilingtobecomeentrepreneurs http://www.facebook.com/pages/Emprendimiento/151901538153682

59. LinkedIn Examples Entrepreneurs Networks DFW ENTREPRENEURIAL NETWORK The Dallas/Fort Worth Entrepreneur Network is a group of entrepreneurs and businessprofessionals in the Dallas/Fort Worth Metroplexwhohavejoinedtogethertoprovideentrepreneurialadvice and networkingopportunitiestotheirmembers. Created:September 19th, 2007 LINKEDIN Members: 9201 ORLANDO ENTREPRENEUR NETWORK Greater Orlando/Central Florida startupcommunityforentrepreneurs and smallbusinessowners. Network, share ideas, share experiences, and findhelp. Created: February 27th, 2009 LINKEDIN Members: 1148 http://www.linkedin.com/groups?home=&gid=1825840

60. LinkedIn Examples Entrepreneurs Networks LEHIGH ENTREPRENEURS NETWORK Lehigh University'sEntrepreneurs Network is a community of students, scholars and entrepreneurialprofessionalsdedicatedtopromotinginnovation, creativitythroughoutthe Lehigh Valley and Mid-Atlanticregion. Members: 408 Created: March 4th, 2008 ISRAEL ENTREPRENEUR NETWORK (5000+) The Israel Entrepreneurs' Network is for founders, Co-founders, executives and professionals interested in starting a company. Members: 6353 http://www.linkedin.com/groups?mostPopular=&gid=54940&trk=myg_ugrp_ovr

61. Top 10 Social Networks for Entrepreneurs (2009) Entrepreneurs Networks EntrepreneurConnect Entrepreneur Media, the company that produces Entrepreneur Magazine, started a social network for entrepreneurs and small business owners called Entrepreneur Connect. Like all social networks, you have the opportunity to create your own profile, explore the community, share ideas with other entrepreneurs and network. PartnerUp PartnerUp is a social network for entrepreneurs who are searching for people and resources for business opportunities. Anyone can join, but business partners, co-founders, executives and board members will get the most out of this one. In this network, you can ask or offer advice, find commercial real estate and find service providers like accountants and marketers for your business.

62. Top 10 Social Networks for Entrepreneurs (2009) Entrepreneurs Networks StartupNation With articles, forums, blogs, on-demand seminars, and podcasts, entrepreneurs will be better prepared for their ventures and have the resources required to make better business decisions.

63. Top 10 Social Networks for Entrepreneurs (2009) Entrepreneurs Networks LinkedIn LinkedIn offers many resources for entrepreneurs, such as groups, including the very popular “On Startups” group that has over 54,000 members. Entrepreneurs on LinkedIn should brand themselves properly so they can attract the right kind of business opportunities, and perform searches to find service providers or partners. As an entrepreneur, you should also be looking to participate in LinkedIn Answers, events and applications to spruce up your profile and become a valuable member to your community. Biznik The Biznik community is composed of freelancers, CEOs, and the self-employed. Like the other networks, this is a place for you to share ideas, instead of posting your resume. It is mandatory for all members to use their real names and provide real data, and Biznik editors actually review all profiles to ensure compliance with that policy. There are three levels of membership, including basic, active ($10 a month for an enhanced profile) and supporting ($24 a month for increased visibility).

64. Top 10 Social Networks for Entrepreneurs (2009) Entrepreneurs Networks 6. Perfect Business If you want to meet thousands of serious entrepreneurs, experts and investors from a variety of industries, then Perfect Business might be the perfect social network for you. The type of people you’ll find are potential business partners, potential clients and advisers. Additionally, the site has leading business partners like Entrepreneur and Virgin Money.

65. Top 10 Social Networks for Entrepreneurs (2009) Entrepreneurs Networks 7. Go Big Network The Go BIG Network embraces job seekers, in addition to funding sources, service providers and entrepreneurs. In this social network, you post requests for help, which are then routed to other people in the network that can answer your questions or support you. Members of this social network can search through profiles of other members, contact them or post a request (a classified ad) to talk about what they are looking for (such as a business partner). The profiles on this network are targeted and specific so it’s easy to find an investor in a particular region. 8. Cofoundr The Cofoundr network is made up of idea makers, entrepreneurs, programmers, web designers, investors, freelancers and executives. The primary purpose of joining this network is to start a new web venture. Unlike most of the social networks already listed here, Cofoundr is a strictly private network, which means that you can’t view member profiles before you register for an account.

66. Top 10 Social Networks for Entrepreneurs (2009) Entrepreneurs Networks 9. TheFunded The Funded is an online community of entrepreneurs who research, rate and review funding sources. Entrepreneurs can view and share terms sheets to assist each other in finding good investors, as well as discuss the inner workings of operating a business. General benefits of this site include viewing facts, reviews and commentary on funding resources, and accessing RSS feeds of the most recent public comments by members.

67. Top 10 Social Networks for Entrepreneurs (2009) Entrepreneurs Networks

68. Top 10 Social Networks for Entrepreneurs (2009) Entrepreneurs Networks 10. Young Entrepreneurs If you’re young, entrepreneurial and socially active or just curious, then Young Entrepreneur is a great starting point for you. This community appears as a discussion forum, with topics such as e-commerce, search engine optimization, marketing, IT & Internet, and franchising. Aside from their main forum and threads, there is a popular blog and some great videos.

69. 1 Introduction 2 Social Networking and Web 2.0 at a glance 3 Institutional or personal ? AGENDA 4 Influence and impact on Entrepreneurs Alex 5 Examples of Entrepreneurial Networks in Cyberspace Alex 6 Conclusion Sandra Templates 7 Bibliography Juan 2 Sonia Sandra Entrepreneurship 2.0 The role of international entrepreneurial networks in cyberspace Medellín, March 29th 2011

70. Conclusions The Cyberspace is a new virtual world where no borders neither physical distance obsturb collaboration nor communication. Networks in cyberspace are strongtoolstodevelop new relationships and businessstrategies. Internet has changedthewaypeopledeveloptheirlifes, we are living theage of virtuality. Social Networks have a hugeimpactontheeconomy and thestartup of anentrepreneur. Peopleembedded in networkscontaining entrepreneurs tend to be more entrepreneurial oriented.

71. 1 Introduction 2 Social Networking and Web 2.0 at a glance 3 Institutional or personal ? AGENDA 4 Influence and impact on Entrepreneurs Alex 5 Examples of Entrepreneurial Networks in Cyberspace Alex 6 Conclusion Sandra Templates 7 Bibliography Juan 2 Sonia Sandra Entrepreneurship 2.0 The role of international entrepreneurial networks in cyberspace Medellín, March 29th 2011

72. Sources: Comparingthestructure of virtual entrepreneur networkswithbusinesseffectiveness Original Research Article Procedia- Social and BehavioralSciences, Volume 2, Issue 4, 2010, Pages 6483-6496 Stefan Nann, JonasKrauss, Michael Schober, Peter A. Gloor, KaiFischbach, HaukeFühres Cyberspace/Cyberculture International Encyclopedia of Human Geography, 2009, Pages 468-472 D. Bell Klyver, K., Hindle, K., Meyer, D. (2007). Influence of social network structure on entrepreneurshipparticipation: a study of 20 national cultures Stefan Nanna, JonasKraussa, Michael Schoberb, Peter A. Gloora, KaiFischbacha, HaukeFühresb -Comparing the structure of virtual entrepreneur networks withbusinesseffectiveness- Procedia Social and Behavioral Sciences 2 (2010) 6483–6496 The Matrix "Whats Real"? http://www.youtube.com/watch?v=OA3WGf9pX0AWhat is the Matrix http://www.youtube.com/watch?v=w1uaiE8T7Nc Second Life - The Online 3D Virtual World http://www.youtube.com/watch?v=z3gHCupXSMs http://mashable.com/2009/03/12/entrepreneur-networks/ http://mashable.com/2009/03/12/entrepreneur-networks/ http://www.brighthub.com/office/entrepreneurs/articles/59044.aspx http://www.flowtown.com/blog/the-2010-social-networking-map?display=wide http://project.cyberpunk.ru/idb/cyberspace.html http://project.cyberpunk.ru/idb/matrix.html

73. THANK YOU!