PeopleSoft. Brocade. and Forte. All of these IT companies got their start with funding from Norwest Venture Partners. Since its inception more than 45 years ago, Norwest has funded more than 400 IT companies in areas ranging from infrastructure to security. Today, the $2.5 billion fund concentrates on early-stage IT companies in areas such as semiconductors and components. enterprise software and service, communications systems and Internet infrastructure.

So what technologies does a VC firm like Norwest find particularly attractive these days? Robert Abbott, general partner at Norwest, says, "CIOs want to buy things that are easy to deploy and to manage over time. To this end, we like managed infrastructure services, such as outsourced security, and enterprise applications based on software as a service. We also like enterprise applications based on an appliance model. With so much emphasis on virtualization, we're looking for things that will take the challenge out of managing all those virtual machines. We still continue to fund things that make it easier to manage all the systems in a data center.

Like many venture capital firms, Norwest values its strong relationships with CIOs and other people in the IT industry. Abbott says, "We're always looking to expand our network of CIOs. We like hearing about the IT problems they're trying to solve. Likewise, we like to show CIOs portfolio companies with solutions that could potentially help them. If any CIO is interested in networking with Norwest Venture Partners, please contact Elizabeth Ferrarini at elizabethferrarini@yahoo.com.

Bio
Since joining Norwest Venture Partners in 1998, Robert Abbott has focused primarily on infrastructure, systems and components. He sits on the board of ClariPhy, KACE, mBlox, Mozes, Occam Networks, Stream Processors and Xilient. He has also worked with such companies as Embark, Escalate (acquired by GERS), mPower (acquired by Morningstar), Quantum Effect Devices (acquired by PMC-Sierra), and Summit Microelectronics.

Abbott has nine years of operational experience in various roles, from engineering to marketing and product management. Before joining Norwest, Abbott was at Silicon Graphics. Prior to Silicon Graphics, he worked at IBM-ROLM Systems. He holds a bachelor of science and a master of science in electrical engineering and an MBA, all from Stanford University.

Resources
Spectator  Business - Brits Go to Silicon Valley

Production Credits
Elizabeth Ferrarini, Executive  Producer
Tom Parish, Host and Audio  Producer
AlarmMusic.com Production Music  Library for Broadcast, Film, Video & Post Production

Thanks for listening - if you have any questions, ideas or insights you want  to share with us feel free to send an email at feedback@enterpriseleadership.org - we look forward to hearing from you.

Because of the rapidly accelerating pace of change in global business today, C-level executives in all size companies need to respond quickly to changes in their business climate. Thus, executives have to be aware, not only of their own external environment, but also they have to immerse themselves in their industries, and to look at society -- both nationally and globally. By understanding where changes come from or what changes to make, executives can take advantage of new opportunities. Meanwhile, executives must also focus on innovation and entrepreneurship in order to be successful. In fact, the Carnegie Mellon MBA programs looks at innovation in organizations, ranging from startups to the Fortune 500 companies.

In this podcast, Dr. Art Boni, the director of the Donald H. Jones Center for Entrepreneurship at the Tepper School of Business at Carnegie Mellon University, talks about how entrepreneurial leadership and innovative drive corporate growth. (Boni also holds the John R. Thorne Chair of Entrepreneurship at the Tepper School of Business.) He says that to achieve this, executives need to understand their market, and their customer needs, and then to develop strategies for going forward. He says, "Companies also need to have good leadership because a strategy without a good team to execute it won't go very far." Boni views corporate strategy as an integral part of innovation and success for any organization. He adds that good integration of information across the enterprise can help executives better execute their strategies and move the company forward.

Dr. Boni has solid experience to back up what he teaches and preaches. Before getting his doctorate and becoming a full-time professor, Boni pursued an entrepreneurial career in the private sector. He joined Science Applications International Corporation (SAIC) after its startup period and become part of the senior management team that built the company to $700 million in revenues. Today, SAIC is an $8 billion technology conglomerate. He also founded and served as CEO of a technology incubator, and four companies in technology and life sciences.

Bio
Dr. Art Boni holds the John R. Thorne Chair of Entrepreneurship and is the director of the Donald H. Jones Center for Entrepreneurship at Carnegie Mellon University's Tepper School of Business. His teaching interests include entrepreneurship, commercializing technology and biotechnology, and corporate innovation. Dr. Boni spent most of his career as an entrepreneur in technology and in life sciences. He received a Ph.D. from the University of California, San Diego. He left a tenure track appointment in the Dept. of Engineering and Applied Science at Yale University to embark on an entrepreneurial career.

Resources
Pittsburgh Business Times - Write a Development Plan
BusinessWeek - The Art of the Start

Elizabeth Ferrarini, Executive Producer
5AlarmMusic.com  Production Music Library for Broadcast, Film, Video & Post Production