ICON66 – Volume 7
ICON's CEO Leadership Summit
London: ICON’s Leadership Summit at the London Stock Exchange brought together a panel of international experts to share ideas on funding, innovation and globalisation.
The Panel
Graham Brant (GB)
Co-founder, Beyond Asia VC Fund
Robin Abrams (RA)
former CEO, Apple China
Mike Reid (MR)
Managing Partner, Frog Capital
Mark Crosier (MC)
CEO, DeepStream Technologies
Michael Jackson (MJ)
Managing Partner of Elderstreet Investments and Chairman, Partygaming.com
On Funding
MJ: Anything based on the internet seems to generate more funds and more investment
– internet businesses can be hugely profitable almost from day one.
GB: It’s not just about funding, but about smart funding – companies need funds that can add value through an understanding of the business strategy as well.
MR: A lot of this is about chemistry and bonding – people forget how important this is.
MC: The team you bring in at the beginning is pivotal to success.
On Innovation
RA: Innovation in Western Europe and the US is ahead of where it is in the rest of the world. India is catching up and China is thinking about it.
MR: Commercial innovation is just as important as having good ideas. San Diego and Cambridge in the US are at the cutting edge, but in London you have a blend of creative agencies and VCs who are very creative and all in one place – hence you find some very innovative thinking that is taken to market very effectively.
MJ: The quality of ideas presented by entrepreneurs has increased massively in 10 years, but the biggest challenge is the amount of money you have to raise to move into profitability – to do that you need new efficient business models.
On Globalisation
MJ: Globalisation has improved conditions – software can be rewritten in India and project managed in Germany, so global models can work for start-ups.
GB: I like the energy and the excitement of the Asian markets – there are some serious messages from there that the UK should be listening to.
MR: I admire the people management in the UK, sales and marketing in the US, the innovation in Sweden and the project management skills in India.
RA: The good thing is that you no longer have to be in one place to access all of the world’s different skills.
