Wellington
Engineer, entrepreneur, venture capitalist, and raconteur Neville Jordan reckons he needs to kissabout 99 frogs before he’ll find an idea worth investing in.
Speaking as the IPENZ 2013 William PickeringFellow at a Wellington lecture (part of the body’s national tour), Jordan told about 300people it takes much research, talking to overseas people, and being introduced to a lot of ideas tofind one business/startup that will potentially turn into a handsome prince (to extend the analogy;though he didn’t use this term himself).
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The Sept. 12 presentation by Jordan, executive chairman of privateequity investor
Endeavour Capital
, was on the topic, ‘How anengineer spots new technology and creates a billion dollar business.’
From his Petone beginnings, including trying to make an atomic bomb (but, as a 13 year old,wasn’t able to source uranium at his local pharmacy!), Jordan briefly outlined how the pharmacistlater skewed his interest towards electronics.
Years later he pioneered the use of microwave technologies in New Zealand, floated MAS Tech onthe NASDAQ, came away from a subsequent buyout of that company by larger American interests, andwith a war chest of funds set up vehicles to invest in other good Kiwi ideas.
Hence the kissing many frogs correlation.
Having been successful with some investments, and less so with others (“it’s not failure,it’s a lack of success” he said in reply to a question), Jordan pondered where some of the next‘Big Things’ may be coming from.
As an investor, he’s mindful that some technologies can pull society apart.
“How do we impact on the social fabric so we create better societies, and not cripple it in theprocess,” he posited?
Without giving specific answers, Jordan speculated that advances will be made in:
A fusion of electronics and healthcare (including and around)
He also gave huge credence to new education entities which are set to greatly disrupt university(including New Zealand) and other providers’ offerings.
These include
LaureateUniversities
(which have just received $200m in funding from the World Bank, and the
Many people have heard of MOOCs (massive online open course) which currently have three million students in 220 courses.
Jordan says education that is accessible through and because of the internet will profoundlychange society – though he, like others cannot possibly envisage what that will be.