El cronograma de actividades propone trabajar la teoría de la ortografía a través de exposiciones, juegos y evaluaciones durante cuatro períodos. En el primero se enfocará en el acento, la tilde, la v y la b. En el segundo período se abordarán temas como la g, j, ll y y. El tercer período incluirá exposiciones sobre temas con mayores falencias. Finalmente, en el cuarto período habrá una competencia de ortografía intercolegial.
La persona propone iniciar una campaña para limitar el consumo de alcohol a un vaso de cerveza por persona en fiestas y fines de semana para prevenir accidentes por exceso de bebidas, y pide reenviar el mensaje a amigos para apoyar la iniciativa.
This document summarizes statistics from proposals submitted to the Technology Commercialization Project (TCP) in Kazakhstan. The key points are:
1. Over 3 rounds, TCP received 757 proposals totaling $745 million in requested funding, with the most proposals in agriculture and life sciences.
2. The TCP committed $30 million to finance projects, with the majority of winning proposals led by male teams and senior-level researchers.
3. The funding aimed to bridge the gap between research and commercialization by financing proof-of-concept and prototype development to help technologies attract later-stage private investors.
This document summarizes statistics from proposals submitted to the Technology Commercialization Project (TCP) in Kazakhstan. It shows that the majority of proposals were from male-led teams (75%) and senior teams (83%). The top requested technologies were agriculture, life sciences, ICT/education, and alternative energy. The TCP aims to finance technological development and commercialization by funding the "market gap" between research and customer/investor readiness. It is a joint program between the Kazakh government and World Bank to address lack of funding for proof-of-concept and prototyping. Over 3 rounds, it received over 750 proposals totaling $745 million in requested financing and committed $30 million.
El cronograma de actividades propone trabajar la teoría de la ortografía a través de exposiciones, juegos y evaluaciones durante cuatro períodos. En el primero se enfocará en el acento, la tilde, la v y la b. En el segundo período se abordarán temas como la g, j, ll y y. El tercer período incluirá exposiciones sobre temas con mayores falencias. Finalmente, en el cuarto período habrá una competencia de ortografía intercolegial.
La persona propone iniciar una campaña para limitar el consumo de alcohol a un vaso de cerveza por persona en fiestas y fines de semana para prevenir accidentes por exceso de bebidas, y pide reenviar el mensaje a amigos para apoyar la iniciativa.
This document summarizes statistics from proposals submitted to the Technology Commercialization Project (TCP) in Kazakhstan. The key points are:
1. Over 3 rounds, TCP received 757 proposals totaling $745 million in requested funding, with the most proposals in agriculture and life sciences.
2. The TCP committed $30 million to finance projects, with the majority of winning proposals led by male teams and senior-level researchers.
3. The funding aimed to bridge the gap between research and commercialization by financing proof-of-concept and prototype development to help technologies attract later-stage private investors.
This document summarizes statistics from proposals submitted to the Technology Commercialization Project (TCP) in Kazakhstan. It shows that the majority of proposals were from male-led teams (75%) and senior teams (83%). The top requested technologies were agriculture, life sciences, ICT/education, and alternative energy. The TCP aims to finance technological development and commercialization by funding the "market gap" between research and customer/investor readiness. It is a joint program between the Kazakh government and World Bank to address lack of funding for proof-of-concept and prototyping. Over 3 rounds, it received over 750 proposals totaling $745 million in requested financing and committed $30 million.
Bridging the Valley of Death, Nastas Presentation at World Bank & IFCThomas Nastas
This document discusses financing startups in the "Valley of Death," the period between initial investment and generating revenue. It describes the speaker's experience managing funds that financed startups using royalty structures, and lessons learned. Specifically, royalty structures work well for medium growth companies but not high-growth tech startups that replace products. The talk outlines how government initiatives in Croatia and Russia to increase startup financing through public-private partnerships did not change investor behavior toward risk, as investors still preferred lower-risk deals. Examples of copycat e-commerce businesses in Russia and Turkey that achieved rapid growth and revenues are presented as a model that could circumvent the Valley of Death by reducing opportunity risks.
Ivi master class path to commercialization for csu exec ed mba in kazanThomas Nastas
Russia made $ billions of investment in incubators, technoparks, accelerators, venture funds and countless other projects to diversify its economy, generate more technology, innovation and investment, with the Russian Venture Company & Rusnano taking the leadership role. With these assets in place, how do we leverage them to do more, faster?
Obstacles still remain that impede the success of these initiatives & the ability of start-ups and SME business models to do more, faster. Until we attack these issues, progress in attaining more innovation, investment, entrepreneurship & new business is slowed unnecessarily; since these barriers are what impede modernization, let’s attack these issues head-on or circumvent around them to ‘Scale-Up.’
The document outlines different stages of early stage commercialization from idea/feasibility to prototype development. It describes the technical and commercial activities expected at each stage, including validating concepts, demonstrating proof of concept with potential customers, and developing initial prototypes to test in real world environments. Intellectual property protection and funding requirements also increase as concepts move from idea to prototype validation.
Entrepreneurship & Capital, Engines that Power an Economy Forward, Nastas Pre...Thomas Nastas
The document summarizes a presentation on entrepreneurship and venture capital. It discusses how entrepreneurship and capital are engines that power economic growth. It provides an outline of topics covered in the presentation, including the definition of entrepreneurship, the history of venture capital, venture capital trends worldwide, and how the venture capital process works. The presentation was delivered in Kazan, Russia to members of the innovation and entrepreneurship community.
Path to Commercialization, Nastas Presentation to Winner of Grant CompetitionThomas Nastas
The presentation discusses the path to commercializing technologies through stages of basic research, prototype development, company formation, and product growth. It notes that government innovation funds and angel investors can provide financing during the proof of concept and prototype development stages. The presentation emphasizes that failure during commercialization attempts should not be seen as fraud but rather as an accepted part of the process of achieving innovation goals.
Grant Awards, Kazakhstan, Tech Commercialization ProjectThomas Nastas
This presentation shows the results of the 1st competition, to award innovative science & tech projects with grants to advance technology thru proof-of-concept to 1st customer sale
More Edisons Needed, not Einsteins: By NastasThomas Nastas
The presentation discusses the need for more entrepreneurs and innovative jobs. The World Bank asked the speaker to present on scaling up entrepreneurship as countries want help increasing the number of start-ups and small-to-medium enterprises. The presentation argues that building experience with risk, failure, and uncertainty is needed to increase entrepreneurship. It provides solutions like selling the opportunity not just the risk, generating more business ideas, and establishing mentoring organizations. The overall message is that developing more "Edison-like" entrepreneurs focused on doing more, faster and cheaper can help economies participate in an increasingly knowledge-based world.
Financing Innovation in Croatia: By Tom NastasThomas Nastas
Financing Innovation in Croatia, presentation to build on science & technology initiative for creation of an angel, seed & early stage venture capital fund in Croatia
IVI Program, 'Scaling Up Entrepreneurship,' progam descriptionThomas Nastas
This document outlines an entrepreneurship training program aimed at government staff, investors, and entrepreneurs in emerging markets. The objective is to scale up entrepreneurship and venture capital by educating these stakeholders. It describes the program's modules over three days, covering topics like the role of entrepreneurs and investors, developing business models, and building effective management teams. The goal is to deepen understanding of challenges faced and provide networking opportunities to better support startups and innovation in these countries. The program has been delivered in several countries, with positive feedback from participants.
Tom Nastas board of directors appointmentsThomas Nastas
Thomas Nastas has held roles on the boards of directors and as an advisor for various technology, financial, and industrial companies in Russia, Kazakhstan, and Cyprus since 1986, contributing to projects in areas such as education technology development, banking services expansion, nanotechnology commercialization, and corporate governance practices. In these roles, he has helped companies and organizations establish strategies and policies, launch new initiatives, secure funding, improve performance, and transfer international best practices. Nastas' decades of experience advising and directing public and private sector organizations across industries and countries demonstrates a successful track record of adding value through strategic guidance, partnerships, and governance.
English Translation Of Go Forward Plan, Harvard Bus ReviewThomas Nastas
This document discusses strategies for scaling up innovation and supporting small and medium enterprises (SMEs) in attacking global technology markets. It presents a seven-point "GoForward" plan for building domestic technology platforms around a country's strategic assets and industries in order to catalyze more technology absorption and position SMEs for global markets. Emerging country governments are encouraged to support SMEs' innovation and venture capital investments to replicate the success of countries like Israel and Singapore in creating and exporting knowledge.
This document outlines Thomas Nastas' presentation on new business formation strategies at the 2nd Rusnano International Conference in Moscow, Russia on October 7, 2009.
The presentation focuses on how leading American universities organize new business formation departments within their technology transfer offices. Typical technology transfer units have 7-20 individuals
Global Speaking Engagement & Interviews Of Thomas D NastasThomas Nastas
Thomas Nastas has given over 30 presentations and television interviews from 2009-1992 on topics related to venture capital, private equity, innovation and technology. Some of his speaking engagements include presentations in Russia on management and organization for new business formation, how Russian SMEs can raise funds from international investors, and scaling up innovation. He has also presented at conferences in India, Turkey, Latvia, Kazakhstan, and various countries in Europe on new directions in private equity deals and venture creation. Additionally, he has lectured on venture capital and private equity at universities and given training programs on implementing financing models.
Scaling Up Innovation, Harvard Business Review, In RussianThomas Nastas
Tom Nastas (Thomas D. Nastas) English language translation of \'The Goward Plan to Scaling Up Innovation, published in the Harvard Business Review, Russian and Hungarian language editions
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
Bridging the Valley of Death, Nastas Presentation at World Bank & IFCThomas Nastas
This document discusses financing startups in the "Valley of Death," the period between initial investment and generating revenue. It describes the speaker's experience managing funds that financed startups using royalty structures, and lessons learned. Specifically, royalty structures work well for medium growth companies but not high-growth tech startups that replace products. The talk outlines how government initiatives in Croatia and Russia to increase startup financing through public-private partnerships did not change investor behavior toward risk, as investors still preferred lower-risk deals. Examples of copycat e-commerce businesses in Russia and Turkey that achieved rapid growth and revenues are presented as a model that could circumvent the Valley of Death by reducing opportunity risks.
Ivi master class path to commercialization for csu exec ed mba in kazanThomas Nastas
Russia made $ billions of investment in incubators, technoparks, accelerators, venture funds and countless other projects to diversify its economy, generate more technology, innovation and investment, with the Russian Venture Company & Rusnano taking the leadership role. With these assets in place, how do we leverage them to do more, faster?
Obstacles still remain that impede the success of these initiatives & the ability of start-ups and SME business models to do more, faster. Until we attack these issues, progress in attaining more innovation, investment, entrepreneurship & new business is slowed unnecessarily; since these barriers are what impede modernization, let’s attack these issues head-on or circumvent around them to ‘Scale-Up.’
The document outlines different stages of early stage commercialization from idea/feasibility to prototype development. It describes the technical and commercial activities expected at each stage, including validating concepts, demonstrating proof of concept with potential customers, and developing initial prototypes to test in real world environments. Intellectual property protection and funding requirements also increase as concepts move from idea to prototype validation.
Entrepreneurship & Capital, Engines that Power an Economy Forward, Nastas Pre...Thomas Nastas
The document summarizes a presentation on entrepreneurship and venture capital. It discusses how entrepreneurship and capital are engines that power economic growth. It provides an outline of topics covered in the presentation, including the definition of entrepreneurship, the history of venture capital, venture capital trends worldwide, and how the venture capital process works. The presentation was delivered in Kazan, Russia to members of the innovation and entrepreneurship community.
Path to Commercialization, Nastas Presentation to Winner of Grant CompetitionThomas Nastas
The presentation discusses the path to commercializing technologies through stages of basic research, prototype development, company formation, and product growth. It notes that government innovation funds and angel investors can provide financing during the proof of concept and prototype development stages. The presentation emphasizes that failure during commercialization attempts should not be seen as fraud but rather as an accepted part of the process of achieving innovation goals.
Grant Awards, Kazakhstan, Tech Commercialization ProjectThomas Nastas
This presentation shows the results of the 1st competition, to award innovative science & tech projects with grants to advance technology thru proof-of-concept to 1st customer sale
More Edisons Needed, not Einsteins: By NastasThomas Nastas
The presentation discusses the need for more entrepreneurs and innovative jobs. The World Bank asked the speaker to present on scaling up entrepreneurship as countries want help increasing the number of start-ups and small-to-medium enterprises. The presentation argues that building experience with risk, failure, and uncertainty is needed to increase entrepreneurship. It provides solutions like selling the opportunity not just the risk, generating more business ideas, and establishing mentoring organizations. The overall message is that developing more "Edison-like" entrepreneurs focused on doing more, faster and cheaper can help economies participate in an increasingly knowledge-based world.
Financing Innovation in Croatia: By Tom NastasThomas Nastas
Financing Innovation in Croatia, presentation to build on science & technology initiative for creation of an angel, seed & early stage venture capital fund in Croatia
IVI Program, 'Scaling Up Entrepreneurship,' progam descriptionThomas Nastas
This document outlines an entrepreneurship training program aimed at government staff, investors, and entrepreneurs in emerging markets. The objective is to scale up entrepreneurship and venture capital by educating these stakeholders. It describes the program's modules over three days, covering topics like the role of entrepreneurs and investors, developing business models, and building effective management teams. The goal is to deepen understanding of challenges faced and provide networking opportunities to better support startups and innovation in these countries. The program has been delivered in several countries, with positive feedback from participants.
Tom Nastas board of directors appointmentsThomas Nastas
Thomas Nastas has held roles on the boards of directors and as an advisor for various technology, financial, and industrial companies in Russia, Kazakhstan, and Cyprus since 1986, contributing to projects in areas such as education technology development, banking services expansion, nanotechnology commercialization, and corporate governance practices. In these roles, he has helped companies and organizations establish strategies and policies, launch new initiatives, secure funding, improve performance, and transfer international best practices. Nastas' decades of experience advising and directing public and private sector organizations across industries and countries demonstrates a successful track record of adding value through strategic guidance, partnerships, and governance.
English Translation Of Go Forward Plan, Harvard Bus ReviewThomas Nastas
This document discusses strategies for scaling up innovation and supporting small and medium enterprises (SMEs) in attacking global technology markets. It presents a seven-point "GoForward" plan for building domestic technology platforms around a country's strategic assets and industries in order to catalyze more technology absorption and position SMEs for global markets. Emerging country governments are encouraged to support SMEs' innovation and venture capital investments to replicate the success of countries like Israel and Singapore in creating and exporting knowledge.
This document outlines Thomas Nastas' presentation on new business formation strategies at the 2nd Rusnano International Conference in Moscow, Russia on October 7, 2009.
The presentation focuses on how leading American universities organize new business formation departments within their technology transfer offices. Typical technology transfer units have 7-20 individuals
Global Speaking Engagement & Interviews Of Thomas D NastasThomas Nastas
Thomas Nastas has given over 30 presentations and television interviews from 2009-1992 on topics related to venture capital, private equity, innovation and technology. Some of his speaking engagements include presentations in Russia on management and organization for new business formation, how Russian SMEs can raise funds from international investors, and scaling up innovation. He has also presented at conferences in India, Turkey, Latvia, Kazakhstan, and various countries in Europe on new directions in private equity deals and venture creation. Additionally, he has lectured on venture capital and private equity at universities and given training programs on implementing financing models.
Scaling Up Innovation, Harvard Business Review, In RussianThomas Nastas
Tom Nastas (Thomas D. Nastas) English language translation of \'The Goward Plan to Scaling Up Innovation, published in the Harvard Business Review, Russian and Hungarian language editions
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
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The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
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How A Russian Fed Ex Could Save The Economy, Nastas Article In Moscow Times
1. Thursday, February 19, 2009
The Moscow Times » Issue 4089 » Opinion
How a Russian FedEx Could Save the Economy
19 February 2009 By Thomas Nastas
In his recent Davos World Economic Forum keynote speech, Prime Minister Vladimir Putin stated
that excesses, irresponsibility and greed with governments asleep at the wheel formed a perfect storm
to wreak havoc on global economies. The result has been an unprecedented fall in global demand,
production, employment and wealth.
Putin welcomed dialogue from all to find solutions to the crisis and to chart the way forward. While
it may seem that there are more important short-term crisis-management issues to deal with when
Rome is burning, it still makes sense to think of the long-term future growth in Russia.
A pressing need in Russia is the creation of a set of institutions that invest medium term money into
small and medium-size enterprises, or SMEs. Accomplishing this objective requires changes in
Russian legislation in multiple areas, including permitting Russian pension funds, insurance
companies and like-minded institutional investors to invest in this economic sector.
Like many other developing countries, there is no institutional source of medium- and long-term
capital for Russian SMEs. Large companies borrowed from international creditors to fund projects
that take three to five years to bring to market. But SMEs lacked this access, and they financed their
needs with multiple short-term loans from Russian banks, renewing them at maturity, about every 12
or 18 months. While expensive, because it duplicated transaction costs for SMEs at each refinancing,
it basically worked when the credit markets functioned. Russian banks make short-term loans
because they themselves lack sufficient and reliable sources of long-term money.
When credit dries up as it has now, SMEs can't refinance their loans and are forced to curtail
production, cut back on purchases, shrink employment and cut salaries. These exacerbate economic
difficulties for all. While private equity is available in Russia, SMEs require between $500,000 and
$5 million. This amount was too small for risk-seeking investors in 2007 and 2008, who were
looking to invest from $30 million to $100 million per transaction. Since the beginning of 2009, the
financing gap has grown larger as Russian banks curtail lending and private-equity investors invest
to stabilize current investments.
In 1958, a U.S. government agency called the Small Business Administration launched the Small
Business Investment Corporation program to solve the financing gap in the United States. SBICs are
licensed and regulated by the SBA but privately managed by private sector managers. The minimum
equity to establish an SBIC was $5 million raised from private investors. What made the SBIC
program innovative is that additional capital, leverage -- three times private capital -- is provided to
SBICs from the sale of SBA-guaranteed bonds. This guarantee feature opened a new source of
capital for SMEs, traditional buyers of bonds like pension funds and insurance companies that seek
safety first and yield second. In 2007, for example, SBA bonds had a coupon of 5.8 percent,
approximately 106 basis points over risk-free, 10-year U.S. treasuries.
Since its conception in 1958, SBICs invested more than $50 billion into more than 100,000 SMEs
with more than $25 billion invested in SMEs less than three years old. Well-known brands that
2. received SBIC funding in their early growth include America Online, Amgen, Apple, Callaway Golf,
Costco, Federal Express, Intel, Outback Steakhouse, Palm Computing and Staples, to name just a
few. It was through the SBIC program that U.S. SMEs accessed affordable long-term capital and
institutional investors diversified into a new and higher-performing asset class -- clearly a win-win
situation for all participants.
What's needed now is for the Russian government to establish the legislative framework for an SBIC
industry to emerge in the country. A first step is the creation of a bond guarantee program for the
SME sector. With debentures guaranteed against default of principal and interest, bonds are priced at
quot;market rates,quot; which are less than the rates on nonguaranteed bonds because they are risk-free. This
enables SBICs to raise funds at low cost, and unlike institutional investors that seek extraordinary
returns from venture capital and private equity, SBICs have more modest return expectations,
partially because they receive a continuous stream of cash that compound returns to meet semi-
annual interest payments.
A guarantee program is useful to build the financial market in Russia. SBICs finance either emerging
or established SMEs that are not quite good enough for a conventional bank loan due to their short
length of operating history, nature of cash flow or mix of hard and intellectual assets. A guarantee
program can tip the balance in favor of loan approval. Guarantees also make it possible to extend
repayment terms -- for example, from 18 months to 48 months. SBICs are more risk-tolerant than
banks, and because their funding sources demand less return than venture capital investors they are
not as aggressive in seeking high payoff ventures.
There are other benefits to applying an SBIC program to Russia. In the United States, for example,
SBIC led to more specialization and product development in the financial sector as some SBICs
invested only debt, while those with a greater tolerance for risk emphasized equity and equity-linked
structures. The investment skills of SBIC staff sharpened as they had to better differentiate SMEs
with the potential to create the maximum venture-capital rates of return versus lifestyle companies
more suited to debt only. This enhanced learning led to prudent risk-taking in the financial sector and
ultimately provided the foundation for the venture capital industry to emerge in the United States.
Development of a greater number and variety of financial products was achieved as financiers better
learned how the balance sheet of SMEs could support different layers of capital with different terms,
conditions and maturities with little increase in risk. Financial product development included various
forms of subdebt, second-lien debt and preferred shares with or without conversion as examples, and
the development of new products for certain industries -- for example, factoring for the retail trade.
The best and most effective way out of a crisis is through experimentation and adaption. It is
extremely important to search for new innovations. Governments need to think about how to best
direct investment to address not only today's problems, but also those which are right around the
corner that are not yet being used as driving forces in the market.
This is not an easy task, but stepping up to the plate during tough times is what leadership is all
about.
Thomas Nastas, founder of Innovative Ventures Inc., is member, Board of Directors, Sotsgorbank
and the Independent Directors Association (Moscow), and professor of marketing at the American
Institute of Business & Economics in Moscow.