And amazing things start to happen...

I remember Bob Caspe, serial entrepreneur telling us that at business school.  And how right he was - "just do it, do it, do it....."  The update from Boston this week, finds me at the end of yet another whirlwind ride of work, networking events and VC/Angel meetings - but what a ride it's been.

First I got sponsored by a local firm of VCs to attend XSITE2009.  A Boston summit on innovation, technology and entrepreneurship.  And by summit, I mean all the main movers and shakers were in attendance.  So what was the chat?  Well interestingly there seems to be an explosion in entrepreneurialism happening right now.  Largely being driven out of necessity - but at all levels.  At the top - VCs are reluctantly thinking of changing their models towards more early-stage opportunities, and from the bottom - university kids are looking to get into entrepreneurial careers rather than heading up the corporate ladder.  Being an entrepreneur is considered "wicked cool" these days and I couldn't agree more...  Is it a good time to start a business?  - of course it as. As one of Boston's leading VC's put it to me on Wednesday  "good is good - and bad sucks.."  Good business will always attract funding, and band ones won't....

But enough about VCs, what about the business coming through.  Business that are still able to attract at least $10million in series A funding...!!!  Well how about Boston Power, now leading the charge to manufacture green batteries and desperately seeking manufacturing engineers.  Or Taris Biomedical which up until now has been operating in stealth mode,  is going after bladder conditions and now looking for sales guys and gals, or even a company that is applying the same aerodynamic principles of jet engines and applying them to wind turbines - to make them cheaper, more efficient and easier to transport...All doing well, telling the world and creating fantastic jobs.  These 3-businesses alone had created about 320 jobs.....!!!!

Of course the best was http://www.terrafugia.com/  Makers of a "street legal airplane.   Now your thinking oh come on Iain...!!!  Well this was started by an MIT grad with a love of flying.  He spotted the change in license regulations and put together a business plan which won the MIT $100k competition.  Enabling him to build the prototype, get it certified and flight tested.  Oh and he's now sold over 60 vehicles and has just over $15million in back orders....Absolutely "freakin" amazing as they say over here - from "zero-to-hero" in such a short space of time - No surprises he got a standing ovation from the crowd.

And finally, among the many highlights and standing ovations of the day, was an inspiring keynote speech by famous inventor Dean Kamen (of Segway fame). One of my all time entrepreneurial heros.  He brought the packed amphitheater to their feet.  Kamen talked passionately, and at times appeared a bit choked up:   about FIRST (For Inspiration and Recognition of Science and Technology), more kids know about TV celebrities than they do about the "rockstars" of science and technology - That's just plain wrong....  “The only shot we have for economic recovery is creating wealth, and the only shot we have at creating wealth is having lots of innovators.”  

Interestingly the state of Massachusetts also recognizes this and the need to innovation - and these are the guys at the centre of innovation...!  And what have they done.  Well no surprises really, after all they don't do anything by halves.  They started the first $1million start-up competition..!!.  Being bold by realizing that the only way to create wealth through innovation is to create and attract more start-up business to and within the state.  Maybe the Scottish government should take note and do something truly bold like this.....

Or as a tearful Dean Kamen put it — "Invest in smart kids."