Thinking Like a Citizen of the World
A recent MaRS Peer to Peer event featured Kamran Elahian, a seasoned entrepreneur, early stage investor and philanthropist based in Silicon Valley. He brought a clear message to entrepreneurs to “never give up.” Elahian, who immigrated to the US from Iran many years ago, recounted both his successes and failures, letting the audience see more clearly how he has evolved, both personally and professionally.
Elahian began his career working for Hewlett Packard. He founded his first company, CAE Systems, after his own experience designing a chip that did not work. He used this experience to develop a design solution that would prevent the same failure in future chips. He sold CAE three years later for $75 million.
His second company, Cirrus Logic, Inc., also revolutionized the chip making industry. It became the fastest growing semiconductor company in Silicon Valley at the time. Cirrus Logic was also sold for a healthy profit.
His third entrepreneurial endeavour was Momenta International, which aimed to “revolutionize the computer industry.” He put together an international team and a factory in Singapore. While he believed his pen-based computer was the next big thing, the “market did not agree.” His board fired him in April 1992 after he spent $40 million in venture capital funding.
After the failure of Momenta, Elahian took what he describes as “a long vacation.” He was “looking for a new vision, for a new dream… what should I do with my life?” It was during this time, when Elahian was traveling and studying history, that he became keenly interested in technologies that bring people together, from both business and philanthropic perspectives. He believes that the “World Wide Web is a prelude to borderless free trade” and that it is “truly a technology that allows us to cross borders and become one.” He determined that his goal was to help embrace global trade by supporting communication technologies through his venture capital firm, Global Catalyst Partners (www.gc-partners.com) and through his philanthropic work.
Global Catalyst focuses on new technologies that enhance the mobility of people or the mobility of information. Elahian is also interested in creating new companies in many different countries, in part because he sees this model of diversification as the future.
Elahian uses globalization as a central “mega trend” to guide his investment strategy. As the “world is becoming our village,” computing costs are decreasing, while network traffic continues to grow exponentially as new users are added and data-rich applications such as email, VoIP and video become widely available. Currently, only 600 million people around the world are Internet users—that is less than 10% global penetration—which he sees as an enormous opportunity for global communications businesses.
Elahian also uses his entrepreneurial side to create social change, focusing on improving education, reducing poverty and increasing tolerance globally. He established Schools Online, “a charitable organization which aims to connect all schools around the world to the Internet,” which later merged with Relief International, and the private Global Catalyst Foundation as outlets for his social efforts.
Elahian shared some of his “lessons learned” in both business and life. He talked of the strong spirit required to start a company in the face of naysayers and the need for entrepreneurs to keep trying even in the face of rejection. Selecting the best team possible is also crucial—a team who can see signs of failure and make changes to create success. A good team is honest and intelligent and “loves to solve problems”. To be a citizen of the world, one needs to “use a global approach” and ensure that all aspects of a business are globalized.
Elahian began his career working for Hewlett Packard. He founded his first company, CAE Systems, after his own experience designing a chip that did not work. He used this experience to develop a design solution that would prevent the same failure in future chips. He sold CAE three years later for $75 million.
His second company, Cirrus Logic, Inc., also revolutionized the chip making industry. It became the fastest growing semiconductor company in Silicon Valley at the time. Cirrus Logic was also sold for a healthy profit.
His third entrepreneurial endeavour was Momenta International, which aimed to “revolutionize the computer industry.” He put together an international team and a factory in Singapore. While he believed his pen-based computer was the next big thing, the “market did not agree.” His board fired him in April 1992 after he spent $40 million in venture capital funding.
After the failure of Momenta, Elahian took what he describes as “a long vacation.” He was “looking for a new vision, for a new dream… what should I do with my life?” It was during this time, when Elahian was traveling and studying history, that he became keenly interested in technologies that bring people together, from both business and philanthropic perspectives. He believes that the “World Wide Web is a prelude to borderless free trade” and that it is “truly a technology that allows us to cross borders and become one.” He determined that his goal was to help embrace global trade by supporting communication technologies through his venture capital firm, Global Catalyst Partners (www.gc-partners.com) and through his philanthropic work.
Global Catalyst focuses on new technologies that enhance the mobility of people or the mobility of information. Elahian is also interested in creating new companies in many different countries, in part because he sees this model of diversification as the future.
Elahian uses globalization as a central “mega trend” to guide his investment strategy. As the “world is becoming our village,” computing costs are decreasing, while network traffic continues to grow exponentially as new users are added and data-rich applications such as email, VoIP and video become widely available. Currently, only 600 million people around the world are Internet users—that is less than 10% global penetration—which he sees as an enormous opportunity for global communications businesses.
Elahian also uses his entrepreneurial side to create social change, focusing on improving education, reducing poverty and increasing tolerance globally. He established Schools Online, “a charitable organization which aims to connect all schools around the world to the Internet,” which later merged with Relief International, and the private Global Catalyst Foundation as outlets for his social efforts.
Elahian shared some of his “lessons learned” in both business and life. He talked of the strong spirit required to start a company in the face of naysayers and the need for entrepreneurs to keep trying even in the face of rejection. Selecting the best team possible is also crucial—a team who can see signs of failure and make changes to create success. A good team is honest and intelligent and “loves to solve problems”. To be a citizen of the world, one needs to “use a global approach” and ensure that all aspects of a business are globalized.
BROWSE PAGES
- MaRS Convergence: Spring 2008
- MaRS Convergence: Fall 2007
- MaRS Convergence: Winter 2006/07
- Global CONNECT Comes to MaRS
- Thinking Like a Citizen of the World
- Heritage Building Recognized
- Building a Successful Global Company
- Creating a Culture of Innovation
- Ushering in a "Medical Revolution"
- MaRS Educating Future Entrepreneurs
- Tenant Profile: AXS envisions what we can't see
- MaRS Joins Give a Day to AIDS Campaign
- MaRS and OCE Introduce Market Readiness Program
- MaRS Attracts International Attention
- MaRS Blog Takes Off
- MaRS Convergence: Fall 2006
- MaRS Convergence: Winter 2005
