IS AN INDIVIDUAL'S INNOVATIVE MINDSET LEVEL AND POWER TO INNOVATE MEASURABLE, AND HOW?
MUDIT GOYAL FROM UC BERKELEY WILL BE PRESENTING HIS RESEARCH - PLEASE JOIN US TO LEARN FROM HIM AND GIVE HIM FEEDBACK. THIS WEDNESDAY AT NODE!
Opening the doors to non-members at 6. Join us for a glass of wine before the presentation begins
Presentation begins at 7pm.
With the advancement of Big Data technologies, and the creation of new, open source Machine Learning and Data Science tools, we now have new methods and approaches to obtain quantitative entrepreneurship research results. This approach benefits from a seemingly inexhaustible source of information, i.e. data. In this paper, we apply data science techniques from UC Berkeley’s Data-X framework to research socio-economic characteristics and traits, related to successful entrepreneurs, and their link to early stage venture success. Such techniques include the use of web scraping scripts, data cleaning, the creation of data pipelines, and visualization using open source Python libraries (e.g. Scikit-learn, Pandas) as well as other tools commonly used in the Machine Learning development stack. This paper offers two types of results of the performed quantitative study, that is in the intersection between Machine Learning and Entrepreneurship Research
(Fig 1.). First that the Machine Learning development stack offers powerful tools to produce entrepreneurship research results, and this might be a new paradigm in this field of research. Second, we can now quantitatively verify from public data sources that, contrary to popular belief, a successful entrepreneur is not a young, college drop-out that had a genius idea in their dorm room. Instead, the most predictive trait of entrepreneurial success is the work experience of the founder, i.e., the number of years the founder has been employed before starting their company. Optimally they will have been employed for 10 to 12 years.
The Berkeley Innovation Index (BII) is both an open research concept, and a global collaboration project born out of interdisciplinary research by UC Berkeley faculty. In cooperation with industry professionals, BII has been developed to offer simple yet powerful ways to measure something never before measurable – an individual's innovative mindset level, and their power to innovate.