Singularity University Launches

MOFFETT FIELD, Calif. – June 25, 2009 – Singularity University (SU) — the new academic institution with the goal of preparing the next generation of leaders to address “humanity’s grand challenges” — today announced the selection of 40 students to represent the inaugural class for the Graduate Summer Program (GSP). Singularity University narrowed the final 40 students from a pool of more than 1,200 candidate applications around the globe. The summer program begins on June 29, 2009, based at its campus on the NASA Ames Research Park.

SU also announced that leading Silicon Valley venture capital firm, ePlanet Ventures, joins SU as the newest Corporate Founder to support the institution.

Singularity University is modeled after the successful International Space University, founded at MIT in 1987, which has become one of the leading interdisciplinary, international and intercultural institutions for the study of space. The Graduate Summer Program is a nine-week graduate-level interdisciplinary curriculum designed to facilitate understanding, collaboration, and innovation across a broad range of carefully chosen scientific and technological disciplines whose developments are exponentially accelerating.

A Look at the Summer Class

Students for the inaugural summer program were chosen based on their level of expertise in individual “tracks,” demonstrated entrepreneurial and leadership skills, and their commitment to addressing and solving important issues facing our world.

“The level of interest from candidates around the world exceeded our initial expectations,” said Dr. Ray Kurzweil, co-founder of Singularity University.

“We received applications from expert candidates in over 60 countries, so competition was very tough for the 40 open spots. Narrowing the field was challenging. The selected students embody the key characteristics, experience, and ‘start-up mentality’ we believe are required to address our grandest challenges today and tomorrow.”

The summer class is composed of 26 men and 14 women, ranging in age from 22 to 47 years old. The 13 nations represented are: USA, Canada, Israel, United Kingdom, Mexico, Brazil, Bolivia, India, New Zealand, Poland, Portugal, Turkey, and Russia.

Specific experience and expertise in one of the ten key fields of study, or “tracks,” was required to secure a spot in the inter-disciplinary institution. The number of student experts in each of the ten tracks are: future studies and forecasting - 5; policy, law and ethics - 7; finance and entrepreneurship - 5; networks and computing systems - 6; biotechnology and bioinformatics - 3; nanotechnology - 2; medicine, neuroscience and human enhancement - 4; AI, robotics - 3; energy and ecological systems - 2; and space and physical sciences - 3.

“It’s rare that a new university comes into existence, and we are proud of the students representing this first class,” said Dr. Peter H. Diamandis, co-founder of Singularity University. “Ray Kurzweil and I look forward to seeing what this stellar combination of students and faculty will produce throughout the course of the program. The potential is unlimited. And, we truly believe Singularity University will positively impact humanity.”

Venture Capital Support Behind SU

ePlanet Ventures joins SU as the only venture capital firm at the Corporate Founder level, with a donation of $250,000. In addition to financial support for SU, the firm will mentor students as they develop projects and new business ideas, a partner will serve as an advisor and lecturer on the Finance and Entrepreneurship track, and sit on the Board of Trustees. Google is an existing Corporate Founder.

“The close alignment of our goals with SU made the partnership a natural fit,” said Asad Jamal, Chairman and CEO of ePlanet Ventures. “ePlanet Ventures was founded to support innovation in technology and sciences, and has been a leader in discovering disruptive innovation and promoting cross-border migration of technological innovation, business models and entrepreneurship. We anticipate great ideas and global solutions to come from SU with the expert concentration of students, faculty, and other supporters. We’re thrilled to be a part of this innovative venture from the start.”

Interest in sponsoring Singularity University has been strong since its founding, and nearly all its financial supporting positions have been filled. Three positions are still available to join ePlanet Ventures and Google as Corporate Founders, and SU is in discussions with a number of the Bay Area companies to fill the remaining positions. Please visit the Founders’ Circle for more information on corporate and individual sponsorship.

Looking Forward

Singularity University will offer 3-day “C-level” and 10-day “mid-level” executive management programs in Fall ’09. Exact program dates will be announced later in the year. Interested candidates can submit applications and request additional information at www.singularityu.org/interested

ABOUT SINGULARITY UNIVERSITY

Singularity University (SU) is an interdisciplinary university whose mission is to assemble, educate and inspire a cadre of leaders who strive to understand and facilitate the development of exponentially advancing technologies in order to address humanity’s grand challenges. With the support of a broad range of leaders in academia, business and government, SU hopes to stimulate groundbreaking, disruptive thinking and solutions aimed at solving some of the planet’s most pressing challenges. SU is based at the NASA Ames campus in Silicon Valley. For more information, go to www.singularityu.org.

ABOUT EPLANET VENTURES

ePlanet Ventures is a leading global venture capital firm headquartered in Silicon Valley, with international offices in London, New Delhi, Bangalore, Shanghai, and Beijing, as well as a presence in Hong Kong, Seoul and Tokyo. ePlanet Ventures has funded over 80 innovative high-growth companies worldwide, including landmark deals Baidu (NASDAQ:BIDU), Skype (sold to eBay for approx. US$3B in 2005), and Focus Media (NASDAQ:FMCN). ePlanet is one of the leaders in promoting the cross-border migration of technological innovation, business models and entrepreneurship.

The Firm has made investments in sectors such as the Internet (consumer Internet, Internet services and applications), wireless communications and applications, VoIP and other broadband services, entertainment, semiconductor design, life sciences and other emerging services sectors. The firm has won the China Venture Capital Association Exit of the Year 2005 for Baidu, and the European Venture Capital Association Deal of the Year 2005 Award for Skype, and has been profiled in FORBES Feb. 2007 as a “Pioneer in Global Venture Capital.” Asad Jamal, Chairman and CEO of ePlanet Ventures was recently profiled in FORBES MIDAS List 2008 as a top 10 venture capitalists in the world.

Source: http://singularityu.org/news/2009/06/su-launches-press-release/

Tags: Singularity University, ePlanet Ventures, NASA, Silicon Valley, International Space University, MIT, Graduate Summer Program, Ray Kurzweil, Peter Diamandis, Google, Entrepreneurship, Global Development News,

Posted via email from Global Business News

Intel and Nokia Announce Long-Term Relationship

In a deal intended to strengthen Intel's push into the mobile computing arena, the Santa Clara chip maker and Finnish cell phone giant Nokia on Tuesday announced what they called a long-term relationship to develop new mobile devices.

Under the arrangement, the companies said they will work together on chip design and open-source software. Intel recently has entered that field with its Linux-based operating system called Moblin, designed to function on portable devices, and Nokia has a Linux-based operating system, dubbed Maemo. In addition, Intel will license some modem technology from Nokia.

However, executives with the two companies repeatedly declined during a conference call and a later interview to discuss what type of devices they might make and to what extent Nokia might use Intel's chips.

"We will talk about products when we are ready to talk about products, but that is not for today's discussion," said Anand Chandrasekher, senior vice president and general manager of Intel's ultra mobility group.

"There is a lot of room for innovation here, to really define what mobile can do," said Kai Öistämö, Nokia's executive vice president for devices. "It's a future full of different possibilities." After the announcement, Intel's stock rose 13 cents to $15.81 at the close of trading.

No financial terms were disclosed for the deal, and the two executives were evasive about when their collaborative discussions began. They said only that their companies have been doing joint research for several years. In May, Intel, Nokia and a number of other companies formed an association to promote rapid new wireless technology for shuttling data among computers, high-definition television sets and other devices in homes.

Although details about the agreement announced Tuesday remain vague, the deal suggests intriguing possibilities for Intel. Although the company's x86 microprocessors serve as the brains in most personal computers and servers, it sees the rapidly expanding market for mobile computing devices as one of its biggest growth opportunities. And the cell phone business, where Nokia is the world's biggest manufacturer, is an area Intel is especially keen to enter.

Intel, whose chips are not used in Nokia products, has so far been shut out of the cell phone market. That's largely because Intel's microprocessors use too much power to enable the phones to maintain sufficient battery life. Instead, cell phones use low-power chips based on technology developed by ARM, a small company in the United Kingdom.

Öistämö said Nokia plans to continue working with ARM-based chip makers. But Intel hopes to break into the cell phone market with future versions of a chip it introduced in March last year, called Atom, which uses less power than other Intel microprocessors and is relatively inexpensive. Moblin, one of the open-source software systems that Intel and Nokia will collaborate on, works well with the Atom chip, the companies noted in their joint press release.

What sort of devices the two companies might develop remains unclear. Nokia has been rumored this year to be considering making netbooks, which are smaller than laptops. Intel, whose microprocessors already are in laptops and netbooks, is promoting its chips for even tinier gadgets, including phones.

In their press release, the companies said they hoped to "define a new mobile platform beyond today's smart-phones, notebooks and netbooks." The deal drew mixed reviews from analysts.

"This is a compelling partnership," Jack Gold, founder of technology research firm J. Gold Associates, based in Massachusetts, said in a note to his clients. "We do not envision Nokia abandoning its core dependence on the ARM architecture in the short term, but longer term (two to three years) we expect Nokia to offer devices based on Atom." Gold added that "this collaboration could limit the impact Google's Android operating system will have on the netbook market."

But J.P. Morgan analyst Christopher Danely was less enthusiastic about the partnership, writing to his clients that "we don't expect much to come out of it."

While the deal "should help Intel in its quest to generate wireless design wins for its Atom processor," Danely concluded, "we continue to believe the deficiencies of Atom in power consumption, cost and software relative to other applications processors render it an uncompetitive product."

Source: http://www.mercurynews.com/business/ci_12672076?source=email

Tags: Intel, Nokia, Strategic Partnership, Jack Gold, Atom, ARM chips, Google Android, Christopher Danley, JP Morgan, Silicon Valley, Moblin, Santa Clara, Netbooks, Maemo, Global IT News,

Posted via email from Global Business News

Microlending Taking Off In U.S

Yeah, yeah. I was sure I knew all about microfinancing.

Kiva.org. Muhammad Yunus. Creating entrepreneurs and changing lives for an investment of pennies a day in India, Pakistan, Vietnam and the rest of the developing world.

I'm a smart guy, see. So smart that I recently found myself standing in a business started with a microloan in the exotic outpost of Mountain View, Calif. It was a dance studio that I'd driven by dozens of times, never giving a thought to where the money came from for the rent, costumes or the sound system that plays the music that keeps the aspiring ballerinas quite literally on their toes.

I ended up at Stars in the Light dance studio after a conversation with Eric Weaver, CEO of San Jose-based Opportunity Fund. The nonprofit is the biggest microlender in the Bay Area. And it so happens it loaned Svetlana Taran $15,000 so she could open the Mountain View studio.

"There have been people practicing microfinance in California for years," Weaver told me. "And maybe there is not a lot of awareness that it is happening here." Me? Not aware?

Turns out microfinance is big in the United States, though not as big as Weaver and many others would like it to be. Opportunity Fund says there are at least 20 million U.S. microbusinesses, which generally means businesses employing fewer than five that borrowed less than $35,000 — often much less — to start up.

And just this week Kiva, the San Francisco nonprofit that made international microfinance a household name, launched a Web-based way for individuals to make small loans to small businesses in the United States.

Microloans, typically a few thousand dollars, are aimed at helping people raise themselves out of poverty. They go to entrepreneurs who can't get conventional credit: immigrants, women with little credit history, borrowers with good prospects but bad past credit.

The loans are usually made through nonprofits with money from foundations, government grants and traditional lenders. The loans come with business education and advice.

Weaver's organization has loaned about $10 million to 800 Bay Area businesses since 1995. Still, Opportunity Fund estimates that about 50,000 potential enterprises in the area need microfinancing help.

"Somebody can use it to buy toys and furniture and open a licensed family day care and begin generating income," Weaver says. "They can buy a second hot dog cart." The option is more important than ever as the Great Recession drags on. Weaver says he can think of few better economic stimulus plans. Small businesses create jobs even in hard times, while big companies cut them.

Yes, expanding microlending depends on donors. The loans are paid back with interest. (It's a big range. Think roughly 5 to 15 percent from nonprofit lenders.) But nonprofits don't always recover the full cost of making the loan and providing support.

Weaver says microlenders also need to get the word out among potential borrowers. "The one thing I think we need most to take it to scale," he says, "is raising the awareness that it is here so that people know to look for it."

To that end Opportunity Fund, Kiva and Silicon Valley Community Foundation late last month hosted a daylong microfinance conference at Stanford University. The day's agenda was none-to-subtly labeled "Microfinance: It's Happening in Our Backyard." About 500 attended to debate the future of the industry in the United States and to discuss models that might broaden the success of the practice.

It was during one of those sessions, a field trip to two businesses launched with microloans, that a group of conference attendees met Taran and even took an impromptu salsa lesson from her.

Taran, who was a dancer in Russia before immigrating in 1991, had always wanted to open a studio. But banks wanted nothing to do with her.

"I couldn't show them a business being active for several years," she says. "I could not show them a profit-and-loss statement."

Instead she went to Opportunity Fund, which focused on her passion and her ability to learn from the organization's business education program.

Taran moved into the studio in February. She's hired two instructors and enrolled 17 students — children and adults. One day, she says, she'd like to see her operation grow into an academy that attracts dancers from Italy, Russia, Switzerland and elsewhere. You know, an international dance academy.

Yes, an international dance academy. Built on microloans. Right here in Silicon Valley.

Source: http://www.siliconvalley.com/opinion/ci_12570572

Tags: Kiva, Microfinance, Mohammed Yunus, microloans, Silicon valley, Opportunity fund, Global Development News, Stanford University, microlenders, Svetlana Taran,

Posted via email from Global Business News