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LatinVision Media News
Wednesday, October 15, 2014
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Saturday, October 11, 2014
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Friday, October 3, 2014
“Our father was an entrepreneur and he taught us not to put all of our eggs into one basket, so we’ve made a number of different investments,” John told Fortune.
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Wednesday, October 1, 2014
Palladium Makes Investment in Pronto Insurance, a Leading Provider of Non-Standard Auto Insurance to the Rapidly Growing Hispanic Market in Texas
Headquartered in Brownsville, TX and founded in 1997, Pronto Insurance has experienced significant growth since launching its MGA in 2005, expanding its business model from retail insurance distribution to multiple channels of distribution, including captive locations, franchisees, and independent agents. As of today, Pronto Insurance's collected premiums are approximately $100 million.
"We are excited that Pronto Insurance has joined the Palladium family of companies, and we look forward to partnering with a firm that has significant experience in growing Hispanic-focused businesses," said Rafael Varela, founding partner of Pronto Insurance. "We share a vision for Pronto Insurance's great potential and we intend to pursue a course of strategic growth and focused investment in the months and years ahead."
"Pronto Insurance has established a terrific position in the non-standard auto insurance space, with a strong brand focused on the Hispanic market, multiple channels of distribution, and an attractive Southwest footprint," said Erik Scott, a Managing Director of Palladium. "We look forward to working with the Pronto Insurance leadership team to continue to grow the company organically by delivering a compelling mix of innovative services to its clients, as well as by pursuing acquisitions that make strategic sense both within and outside of Texas."
Pronto Insurance was advised by Sica | Fletcher.
About Pronto Insurance
Pronto Insurance is a provider of auto insurance solutions and other insurance products. The company, which is headquartered in Brownsville, Texas, has approximately 100 locations statewide in Corpus Christi, the Rio Grande Valley, Laredo, San Antonio, El Paso, Houston and Austin. For additional information about Pronto Insurance visit www.prontoinsurance.com.
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with over $2.5 billion in assets under management. Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams, and focuses primarily on buyout equity investments in the range of $50 to $150 million. Since its founding in 1997, Palladium has invested over $1 billion of capital in more than 20 platform investments and over 50 add-on acquisitions. The principals of the firm have significant experience in financial services, business services, food, healthcare, industrial and media businesses, with a special focus on transitioning founder-owned businesses and investing in companies it believes will benefit from the growth in the U.S. Hispanic population. In April 2014, Palladium announced the final closing of Palladium Equity Partners IV, L.P. at $1.14 billion, significantly exceeding its target. Palladium is based in New York City. For more information, visit www.palladiumequity.com.
Monday, September 29, 2014
Venture capital firms active in travel include Thayer Ventures, Accel Partners, General Catalyst Partners, Battery Ventures, PROfounders Capital, Benchmark Capital, Sequoia Capital, Google Ventures, Sutter Hill Ventures, Altimeter Capital, Menlo Ventures, PAR Capital Management, and dozens more.
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Friday, September 26, 2014
However, outside of the Valley and particularly in the rest of the world, the reality is more nuanced. Truthfully, as a means of understanding startup culture in the rest of the world, this viewpoint does international entrepreneurs a disservice.
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Thursday, September 25, 2014
LatAm Online Shopping Mall Iguama Appoints E-Commerce Pioneer Bruce Matthews as Executive VP of Business Development
Iguama is the online shopping mall where Latinos can discover and buy all the things they can't get at home. The marketplace provides a social environment in which US brands and stores can connect with consumers in Latin America directly and handles every aspect of fulfillment out of the United States including: international shipping, customs and international tax.
From 1990 to August 2014, Bruce was Vice President of Business Development at TigerDirect, a publicly listed retailer of computers and consumer electronics that has been selling online since 1996. He was a key member of the executive team that took TigerDirect from ground zero to being one of the top 25 US internet retailers and has more than 20 years' experience in the web retail space.
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Wednesday, September 24, 2014
The online platform for small business finance examined annual revenue, credit scores, age of business (in months) and operating expenses from more than 1,000 Latino-owned businesses with less than 250 employees and less than $10 million in annual revenues.
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Friday, September 19, 2014
That seemed a little puzzling — what are banks besides digital? Money, after all largely consists of computerized records and transactions.
So when I was asking Steve Ellis, executive vice president and head of wholesale services at Wells Fargo, about the bank’s fintech accelerator program, I asked what he thought about digital shortcomings at banks.
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Thursday, September 18, 2014
SavePro (formally Bains and Woodward Insurance) was founded in 2008 in Yuba City, Calif. by Roger Bains and Paul Woodward, and has expanded to Chico, Eureka and Oroville, Calif.
In 2012, SavePro added David Rosenberg to bring Commercial Lines expertise to the agency, which has resulted in significant growth for the company.
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Tuesday, September 16, 2014
The survey, conducted by the Centers for Disease Control & Prevention, interviewed more than 27,600 people from January through March and asked them their coverage status. It also detailed whether they have private policies or participate in government programs.
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Tuesday, September 9, 2014
Mesa and Southwestern College in Chula Vista were two of only 20 colleges and universities around the country to win the grants from the U.S. Department of Education.
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Friday, September 5, 2014
That spells mounting losses as the venture capital company gears up to launch an initial public offering (IPO) this month that will help provide the war chest it needs to build and defend what it hopes will be the largest online shopping empire outside the United States and China.
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Wednesday, September 3, 2014
Friday, August 29, 2014
“At MetLife, we are committed to growing a diverse workforce that reflects our customers, shareholders and communities and to creating a culture of inclusion – both of which are essential to meeting our business goals,” said Elizabeth Nieto, MetLife’s global chief diversity and inclusion officer. “We’re proud that LATINA Style has recognized MetLife’s strong track record of attracting, developing and retaining a diverse workforce.”
The 50 Best Companies are selected based on their efforts to promote diversity and provide career advancement opportunities, with special attention this year to programs that recruit veterans and military personnel. MetLife is focused on gender diversity through efforts to strengthen the representation, talent development and advancement of women in senior leadership roles. In addition, the company has an ongoing campaign to recruit veterans and military personnel.
“This year LATINA Style is celebrating its 20th Anniversary in providing the Latina community with information that makes a difference in their everyday lives, and we are happy to honor MetLife in this year’s Top 50 Best Companies for Latinas,” said Robert E. Bard, president and chief executive officer of LATINA Style, Inc. “MetLife was chosen for its commitment to advancing Latina women in the workforce and sets an example that other companies should follow.”
The LATINA Style 50 Companies will be honored during LATINA Style’s Awards Ceremony & Diversity Leaders Conference in Washington, D.C., on February 5, 2015.
MetLife, Inc. MET, +0.55% through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com
SOURCE: MetLife, Inc.
Thursday, August 28, 2014
Co-founded by Christopher Gavigan, Sean Kane and Brian Lee, the company sells natural, non-toxic items, ranging from household cleaning supplies to baby products. The products are available for purchase either online or at select retail stores in the United States and Canada.
The business raised $70 million from Wellington Management Company so far, with the help from existing investors, including ICONIQ Capital, General Catalyst Partners, Institutional Venture Partners and Lightspeed Venture Partners. According to industry experts, it is worth nearly $1 billion as it moves toward an initial public offering.
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Wednesday, August 27, 2014
Tuesday, August 26, 2014
Bank of America Merrill Lynch Publishes Report on Latin America Market, “Driving Growth in Latin America”
“Clients around the world increasingly tell us that Latin America is a crucial part of their strategic growth objectives. It’s no wonder. Foreign direct investment (FDI) is booming. Latin America and the Caribbean hit a historic high of $184.92 billion in 2013 – 5 percent more than in 20121,” said Juan Pablo Cuevas, head of Global Transaction Services for Latin American and the Caribbean. “In addition, Mexico – which has just implemented a number of investor friendly reforms – is expected to enjoy a significant boost to FDI, perhaps overtaking Brazil as the largest recipient of FDI in the region. Meanwhile, Chile, Peru and Colombia now have economies that rank as some of the most open among emerging market countries.”
“Driving Growth in Latin America,” which is available to BofA Merrill clients and through TMI, features articles on the following topics:
- The impact of the expanded remit of the treasury function.
- The growth of non-bank financial institutions and public sector entities doing business in the region.
- Best practices of in-house banking.
- The appeal of Latin America to U.S. middle-market companies looking to expand internationally.
- The role of escrow in managing risk, including M&A-related risk.
- What treasury professionals should look for when investing in money market funds.
- How the integration of trade finance and foreign exchange can lower a company’s costs and risks.
- A new era for supply chain finance in Latin America.
“Facilitating the Growing Strategic Role of Treasury” examines the parallel evolution of the growing importance of the treasury function with the expansion of companies into international markets, including Latin America. “Corporate treasury has become a linchpin in supporting a company’s growth strategy in an increasingly complex global environment,” states the article, which goes on to offer guidance on managing risk, enhancing visibility and control, and knowing when to centralize treasury operations.
The regional opportunities for non-bank financial institutions and public sector entities are examined in “Latin America’s Growth Drives Search for Global Solutions.” The article notes that one driver of this trend is the increase in consumer spending, particularly on auto, health and other insurance products. This in turn has been fueled by the growth in the region’s middle classes, which it is estimated, will outnumber the region’s poor by 20162.
“In-House Banking: Is the Time Right for You?” looks at how the changing regulatory landscape and the desire to harness internal liquidity is spurring companies to restructure their cash management structures. The article provides an explanation of in-house banking and identifies the characteristics of best-in-class models.
In the article, “Latin America Opens Up to the U.S. Middle Market,” Brazil and Mexico are identified as the primary expansion targets for many U.S. companies given their size. However, as noted in the article, the two countries have different characteristics. Brazil is a complex and challenging country in which to operate while Mexico is generally seen as the easiest. The article further discusses that Chile, Colombia and Peru are often secondary target markets once a company is established in Mexico and Brazil.
“Mitigating Risk in Latin America” examines the crucial role of escrow services as a risk management tool for multinationals as they increase their business in Latin America. Escrow services can be effective tools to manage M&A-related risk, as well as transaction, regulatory and counterparty risk.
Money market funds historically have been among the most liquid and stable investments available. Despite this, treasury professionals need to carefully vet funds’ investment risk to ensure a fund manager’s risk appetite aligns with their risk tolerance. “Dissecting Risk in Money Market Funds” details how to assess and select approach that selection.
In the article, “FX and Trade Finance Convergence Delivers Benefits,” the author explains how integrating trade finance and foreign exchange can lead to lower costs and reduced risks. For example, purchasing goods in local currency can allow companies to negotiate more competitive local pricing and avoid overpaying for their imports.
“Supply Chain Finance in Latin America: A New Era” discusses the current environment for supply chain finance in the region, where banks have successfully adapted their products and support to reflect the specific needs of buyers and suppliers in Latin America.
1 Foreign Direct Investment in Latin America and the Caribbean 2013, Economic Commission for Latin America (United Nations), May 2014
2 Social Gains in the Balance, World Bank, February 2014
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small businesses, middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 49 million consumer and small business relationships with approximately 5,000 retail banking offices and approximately 16,000 ATMs and award-winning online banking with 30 million active users and more than 15 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and member of SIPC, and, in other jurisdictions, a locally registered entity. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
Bank of America N.A., Oficina de Representacion (Chile), is a representative office in Chile of Bank of America N.A., supervised by the Superintendencia de Bancos e Instituciones Financieras and authorized to promote in Chile select products and services that Bank of America N.A. provides outside of Chile. Neither Bank of America, N.A., nor its Representative Office in Chile, is authorized to carry out in Chile any activities that are reserved by Chilean law to locally licensed banks.
Copyright 2014 Bank of America Corporation. All rights reserved. Bank of America, Merrill Lynch, Broadcort and their logos are trademarks of Bank of America Corporation and/or its affiliates.
Friday, August 22, 2014
A large majority of Hispanic investors wish they knew more about investing in mutual funds, stocks and bonds (72% of surveyed Hispanic investors versus 64% of U.S. investors overall), according to the survey.
Thursday, August 21, 2014
El Pollo Loco: PE 'Bust-Out', 20+ Years Of Failed Domestic Expansion, Pre-IPO Window Dressing Make An Ideal Short
More like a ‘Pollos Hermanos’ than the Chipotle media comparison it is currently getting.
20+ years of failed domestic expansion track record.
Two-year comp momentum is largely average check growth driven, and thus should be heavily discounted.
Existing equity holders will be very motivated sellers at lockup expiry.
There should be ZERO bid for this stock anywhere north of $20.
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Tuesday, September 11, 2012
Chicago's Hispanic business owners say they're conserving cash and cutting spending amid worries about taxes, the federal deficit and health care changes, according to a PNC Bank survey released Monday.
In its first survey of Hispanic entrepreneurs, the Pittsburgh-based bank conducted 402 interviews nationally from May 18 to June 12, including 101 in the Chicago area.
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Monday, August 13, 2012
Credit unions might believe they’re doing all they can to target valuable demographic groups, but there’s one market that many are neglecting, said one consulting firm and its credit union clients. Hispanics are a rapidly growing market, according to Des Moines, Iowa-based firm Coopera Consulting. And they are hungry for financial services and carry an abundance of new business opportunities for credit unions.
Mexico-born Miriam De Dios, CEO of Coopera, said that while many credit unions naturally serve Hispanics as a result of their member service area locations, not enough of them implement comprehensive plans to win over the ethnic group. Coopera opened five years ago and has helped approximately 70 credit unions court their Hispanic communities to date.
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Thursday, June 28, 2012
The first transaction is a new $5 million senior credit facility from Salus Capital Partners ( http://www.saluscapital.com ). The proceeds of this credit facility will be used to repay existing, higher interest rate indebtedness and to provide the company with additional lending capacity to grow the gold buying and gold pawn business lines.
The second transaction is a $5.0 million preferred stock investment from MRC Capital Group ( http://www.mrccapital.com ), an existing investor in Frontera. The proceeds of this equity investment will be used to repay existing indebtedness and to finance growth in Frontera's core business through a series of new store acquisitions.
"We are very pleased to announce these two transactions," said Gilbert Partida, Frontera's president and CEO. "They mark an important step in our business as we look to leverage the systems we have built over the past nine years to accomplish our mission of providing our customers with products that reduce the cost of basic financial transactions for the un-banked market in the United States."
As contemplated in the preferred stock purchase agreement, representatives of MRC Capital Group will occupy three of Frontera's five Board of Director seats with Benjamin Yogel, MRC Capital Group's Managing Partner, becoming the Co-Chairman of the Board along with Gilbert Partida.
"We are thrilled to expand our existing investment in Frontera," said Benjamin Yogel. "Two years ago we made an initial investment in the company and have been impressed with the company and its management team during the tenure of our investment. We see a clear market opportunity for Frontera to leverage its existing systems by adding new stores through acquisition onto the company's technology platform. Our new equity investment, coupled with Salus' new credit facility, will provide the company with the liquidity to accomplish this growth strategy."
"We are excited to partner with Frontera and its sponsor, MRC Capital Group," said Marc S. Price, Senior Vice President, Loan Originations and Corporate Strategy of Salus Capital. "As a subsidiary of Harbinger Group, Inc., we seek to align ourselves with companies and sponsors that have a unique business model that differentiates them from the competition. Frontera's advanced technology and commitment in providing financial services to the un-banked consumer is consistent with our approach."
Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete expansion within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; ability to raise capital to support its growth strategy; changes in business strategy; and the successful integration of newly acquired businesses.
About Frontera, Investment, Inc
Frontera FRNV +153.52% is an alternative services company utilizing advanced technologies and operational systems to provide a growing array of low cost, one-stop-shopping financial services to the "unbanked" and "under-banked" consumer markets. The company offers competitive prices on a wide range of financial products and services, including check cashing, loans (payday and gold jewelry loans) and money transfers.
Frontera's primary target market is the Hispanic sector, which is currently estimated to be more than 40 million customers. Over half of these Hispanic consumers do not use any form of banking service. Frontera's immediate mission is to be the first full-service Hispanic financial services brand.
In addition, approximately 35 percent of all households in the United States across the board are either un-banked, under-banked, or regularly use alternative financial services. Frontera is a prime, low-cost, high customer value option for consumers in these markets.
Frontera currently operates ten stores in California and two stores in Florida.
To learn more visit http://www.fronterainvestment.com
SOURCE: Frontera Investment, Inc.
Sunday, September 18, 2011
Monday, August 15, 2011
Friday, July 15, 2011
For more information or to purchase a copy of the 1H 2011 Daily Deal Investment Index, which includes a comprehensive breakdown of the deals and profiles of more than 30 leading Daily Deal companies, visit our Data Reports page.
Results of the report will be discussed at the 2011 Daily Deal Media Conference, the premier industry event for companies and investors in the Daily Deal market. The conference will be held September 8-9 in Chicago, and interested participants can register here.
Friday, May 27, 2011
The latest multimillion-dollar venture-capital investment in Central Florida did not go to a social-networking firm, theme-park spinoff or high-tech company. It went to a pawn shop chain.
Orlando-based La Familia Pawn & Jewelry has landed $5 million in venture funding from a private equity firm based in Puerto Rico, the companies said Thursday.
It is one of the largest venture deals in Central Florida so far this year, according to the latest MoneyTree survey by PricewaterhouseCoopers, which tracks activity by professional investment firms.
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Start by calling development groups that promote trade between China and the U.S. Then consider partnering with a sophisticated entrepreneur or investor with personal connections in the country
I have a project to develop 12 to 15 small lodges along a jaguar preservation corridor in Latin America. Can you direct me on connecting with Chinese venture capital or private equity firms? —J.H., North Miami, Fla.
After decades of distrust, the past several years have seen efforts to encourage business partnerships across the Pacific. The formal and informal connections being made capitalize on the flourishing Chinese economy, which is rewarding business owners and spurring them to seek investments, says Steven Shen, chairman of the China-U.S.Business Summit, a nonprofit in Long Beach, Calif.
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Monday, April 25, 2011
Venture capital firms are finding success in Mexico. Some entrepreneurs are using the economic development to combat crime.
Entrepreneurs in Mexico hope new start-ups will help the country's economy.
Steve Chiotakis: We've been hearing a lot lately about drug violence in Mexico. But that's not stopping a lot of wealthy people from investing there.
Marketplace's Jeff Tyler now and why venture capital is taking off south of the border.
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Friday, April 22, 2011
Businesses and celebrities unite for St. Jude’s Gala por la Vida in New York, April 28th - Few tickets left!
“The members of the committee are putting forth their best resources and contacts to provide hope to the thousands of children who need treatment at St. Jude,” said Liliana Gil, chair of the Gala por la Vida committee and XL Alliance Managing Partner. The committee counts on the generous support of dedicated volunteers such as Chris Valletta, ex NFL player and former cast member of the NBC’s “The Apprentice”; Cesar Camacho, the event's creative director and producer; fashion consultant Valentina Henao, Karen Hoyos, Mark Antonacci, Carlos Vasallo, David A. Chitel, Karla Micalizzi, Diane Rankin, Gabriela Nevez, Michael A. Fernandez, Kelly Ramirez, Martha Llamoza, Mary C. Miqueli, Monica Dias, Warren Peña, Gabriela Poler, Jesús Maldonado and Windy Lopez.
The gala will include an exclusive fashion show by renowned Colombo-Venezuelan designer Raul Peñaranda. Peñaranda, who has worked with world-renowned fashion houses, including Oscar de la Renta, Kellwood and Tommy Hilfiger, will be showing his Fall 2011 collection at the Gala por la Vida. The exclusive fashion show will be sponsored by Vanidades magazine and styled by Camilo Vergara.
“We want to help St. Jude in their continuous quest in helping children fight cancer and our participation in this year’s Gala allows us to be a part of their worthy cause especially as it relates to the Hispanic community,” said Madelin Bosakewich, US and International Sales Director of Televisa Publishing + Digital.
The gala’s 300 guests will enjoy an unforgettable evening accompanied by top Latin music and television stars, and New York’s philanthropic community as they walk the red carpet. The evening’s events will include silent and live auctions featuring items like a personal donation from Gala por la Vida’s supporter, John Leguizamo, who has donated a personal backstage experience to his new Broadway show, Ghetto Klown.
Live performances will feature recording artist Fragancia, former member of the group DLG, new bachata sensation Yunel Cruz and as well as entertainment by DJ Kazzanova, from Univision Radio’s x96.3. Guests will also taste a menu exclusively designed for the gala by Salvadorian celebrity chef and Food Network star Ricardo Cardona. Some of the participating sponsors include Shoprite, Vanidades, Univision, Johnnie Walker, Wines of Argentina, MISSION Athlete Care, Starlite Media, The Kimball Family Foundation, Toma Vodka, Hispanolia Rum, d’expósito & Partners, XL Alliance, among others.
Thanks to events like Gala por la Vida, St. Jude is able to continue providing lifesaving medical treatments to children fighting cancers like leukemia, regardless of a family’s inability to pay. For more information on purchasing tickets to the gala, sponsorships or donating silent auction items, please contact (212) 239-3239 or visit www.stjude.org/galaporlavida. This year, we also ask the community to take part in a text messaging campaign benefiting St. Jude by texting the word “VIDA” to 90999 to donate $10 for the children of St. Jude.
Tuesday, April 19, 2011
Any student, no matter her or his major, should snap up any affordable opportunities to study abroad that present themselves. Such experiences infuse lessons with far more diverse perspectives than the ones touched upon in the classroom. Business classes especially benefit from a generous shot of multiculturalism — and one need not focus on international trade to get something out of it! When the urge to hop a plane and head overseas for some valuable lessons hits, look into programs at some of the following locations first.
1.Hong Kong, China: This Special Administrative Region is touted as one of the top financial centers in the world, and business students harboring a love of economics come here to see laissez-faire capitalism in action. It's ranked 2nd on the Ease of Doing Business Index as well. Combined with its status as one of the world's foremost centers for banking, finance and international commerce and trade, Hong Kong should be one of the top destinations for business students hoping to study abroad.
2.Singapore: Considered one of the four economic juggernauts of Asia, Singapore ranks first on the Ease of Doing Business Index. A largely trade-based economy, the city-state thrives mainly on exporting goods and retooling imports. Suffice to say, it boasts one of the world's most active ports on top of being considered the fourth most prosperous financial centers anywhere. Business students hoping to enter into the chemical, petroleum, electronics, biomedical or mechanical engineering industries have plenty to explore here as well.
3.Taipei, Taiwan: Taiwan is considered another one of the "Asian Tigers" of business and commerce, with capital Taipei as its flourishing center. Even though the global economy is experiencing a downturn, the city boasts the 2nd -highest per-capita GDP in all of Asia and still expands at a rate of roughly 5% per year. Inflation and unemployment are both kept to a staggering minimum, too. Despite the popularity of textiles and electronics, business students with different goals can still easily walk away from a stint in Taipei with some great experiences and lessons under their belts.
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Thursday, April 14, 2011
Mayor Michael R. Bloomberg today launched New York City’s Innovation Index, the first composite indicator that tracks overall innovation activity in New York City over time. The Index, developed and administered by the New York City Economic Development Corporation, provides a detailed analysis of the drivers of innovation in the City and how they are faring. The data will be updated every year and will be used to measure the scale and pace of the City’s economic transformation, as well as inform policies and shape a regulatory environment that promotes innovation in New York City. Overall, innovation-related activity increased by 12 percent between 2003 and 2009, a trend that preliminary data suggest reached 14 percent by the end of 2010
“One of our Administration’s most important economic development goals is to promote entrepreneurship and innovation and grow New York City’s high-tech sector, and we want to track its drivers,” said Mayor Bloomberg. “Innovation is a tough thing to measure, but when taken together through the Innovation Index, factors like job growth, research and development funding, and venture capital, provide a gauge of the City’s success in generating new ideas, new companies and new jobs. Accelerating the trend of innovation in New York is critical to the City’s economic growth and diversification, particularly given the challenges of competing in the global economy.”
By analyzing the City’s innovation inputs – research and development (R&D) spending, finance, and human capital – and innovation outputs, or the growth of intellectual property, production in high-tech sectors, and entrepreneurship, the Innovation Index uncovered key trends in the City’s innovation economy:
· The high-tech sectors’ share of the Gross City Product (GCP) increased by almost 25% between 2003 and 2009. In 2009, GCP per worker in the City’s high-tech sectors was more than $200,000, among the highest level of any sector.
· Venture capital funding in the New York metro area totaled $1.9 billion in 2010, with firms in the City accounting for 64 percent of this activity. Both the number and value of VC deals increased at a significantly higher rate than in the rest of the nation between 2003 and 2010.
· New York City’s small businesses received a total of $30 million in federal grant dollars for innovation and research in 2009. The value of grants to the City’s firms more than doubled between 2003 and 2009.
· The City’s universities invested $1.8 billion in R&D in 2009. R&D spending at these institutions increased 13 percent since 2003 and accounted for approximately 3.5 percent of all academic R&D spending nationally.
· In 2009, the City’s universities were home to nearly 27,000 graduate and post-doctorate students in the science and engineering disciplines. This represented a 3.9 percent share of all such students in the U.S. and is up from 3.5 percent in 2003, demonstrating the City’s learning and research institutions’ growing influence in these fields.
· With nearly 179,000 people employed in science and engineering occupations in 2009, the City’s workforce is becoming more concentrated in these jobs. The number of workers increased by 9 percent between 2003 and 2009, while their share of total private employment grew by 4 percent.
· There were approximately 1,100 patents awarded to New York City inventors in 2009, an increase of 23 percent from 2003.
“The Bloomberg Administration is taking concrete steps to further New York City’s position as the 21st Century City of innovation,’ and the Innovation Index will be a useful tool as we move forward,” said Deputy Mayor for Economic Development Robert K. Steel.
“Because we believe that innovation is the key to future economic growth, measuring the level of innovation occurring in New York City serves as a critical barometer of economic opportunity,” said New York City Economic Development Corporation President Seth W. Pinsky. “Understanding this data will help us develop more effective policies that will accelerate the trends and strengthen our position in an increasingly competitive world.”
Overall, the Index documents that barriers to business creation for high-tech and innovative firms are lower today than they were a few years ago, and they continue to decrease as more entrepreneurs are attracted to the City. The results of the Index show that, within the broader City economy, entrepreneurs are establishing new businesses, and more startups are securing venture capital and federal funding. This development is facilitated by the concentration of highly skilled talent across numerous industries, providing an ideal environment to exchange ideas. The City’s universities continue to be the engine driving research and knowledge creation, helping to develop a highly-skilled workforce. Meanwhile, more patents are awarded to the City’s inventors each year.
While inputs like R&D and venture capital funding have increased sharply since 2003, these investments in innovation have uncertain returns that do not necessarily or immediately translate into innovation outputs. Several years may be needed for ideas to be patented or commercialized. But with inputs continuing to rise, there is reason to be optimistic about the City’s future performance.
To access the full report and its findings, visit www.nycedc.com/innovation.
The Innovation Index is part of the Bloomberg Administration’s efforts to encourage entrepreneurship within a variety of economic sectors. With a network of eight incubators around the City, the Administration is providing low-cost office space, as well as training and networking opportunities, to hundreds of start-ups and small businesses. In addition, in 2010, the City launched the New York City Entrepreneurial Fund, the first City-sponsored seed and early-stage investment fund located outside of Silicon Valley. In partnership with FirstMark Capital, the fund will make up to $22 million available to New York City-based technology startups. This month, the Mayor announced the winners of the second annual NYC BigApps competition and a strategic partnership with BMW, which is launching a $100 million venture capital fund in New York City as well as a small business incubator. And as part of larger efforts to grow the technology sector in the City, the Administration recently received 18 responses to a Request for Expressions of Interest that it issued to institutions seeking to build or expand an applied sciences research facility within the five boroughs.
Tuesday, April 12, 2011
The World Economic Forum, headquartered in Geneva, Switzerland and its exclusive community of Young Global Leaders have announced the class of 2011 Young Global Leaders.
Each year, the World Economic Forum identifies 200-300 extraordinary individuals worldwide. Together, they form a powerful international community that can dramatically impact the global future. Nominated under 40, these young leaders are proposed through a qualified nomination process and assessed according to rigorous selection criteria that creates a diverse and truly representative body, while accepting only the very best leaders who have already demonstrated their commitment to serving society at large.
After tracking and monitoring over 5,000 candidates worldwide, Liliana Gil was selected by a committee chaired by Queen Rania of Jordan and prominent business leaders, politicians and media leaders who appointed a select group of 190 Young Global Leaders.
Liliana is one of two Colombians, next to Juan Carlos Pinzón Bueno, chief of staff to the President of Colombia, and one of 17 from Latin-American, who was hand selected to join this elite group of business and community leaders. She joins a select group of honorees that represent the future of leadership, coming from all regions of the world and representing business, government, civil society, arts & culture, academia and media, as well as social entrepreneurs.
Watch David Aikman, head of the Forum of Young Global Leaders, talk about this year's selection.
The YGL class of 2011 is composed of 190 Young Global Leaders from 65 countries and all stakeholders of society (business, civil society, social entrepreneurs, politics and government, arts and culture, and opinion and media). The new class represents all regions: East Asia (50), South Asia (18), Europe (42), Middle East and North Africa (13), sub-Saharan Africa (14), North America (36) and Latin America (17). This year's selection has more gender parity than ever, with 44% women.
"I am honored and humbled to be part of this select group of young leaders. More than ever, I now feel responsible, yet empowered, to amplify both social and business priorities that impact my home country Colombia and the Latino community in the U.S." says Gil. "To this day I am not sure how the nomination process came about.but, it is great to see that all the hard-work and passion I've been sharing all these years, has caught the attention of global leaders at the World Economic Forum."
After a prominent career that made her one of the youngest executives at Johnson & Johnson, Liliana is now an entrepreneur, media contributor and co-founder of XL Alliance, a unique Cultural Marketing & Consulting firm that focuses on advising corporate leaders and businesses to better reach the fast growing multicultural market, particularly Latinos, in America.
About the World Economic Forum
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.
Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests. http://www.weforum.org/
Tuesday, April 5, 2011
Bloomberg Sports, ESPN Deportes, Soccer United Marketing, NFL, and NBA executives to be among speakers at LatinVision’s “Marketing to Latinos Sports” conference, April 7 in New York
The event will be held at The Harvard Club in New York City on April 7, 2011. The speakers will address sports marketing issues relevant to the Hispanic community and will discuss best practices to reach Hispanic consumers using sports multimedia platforms.
"Sports is one of the most attractive and effective industries to reach Latinos consumers. No marketer can ignore the fact, the U.S. Hispanic consumer is one of the fastest growing markets in the nation with more than $1 trillion in purchasing power,“ said Carlos Vassallo, CEO of Latin Media Inc.
“In an ever-changing Latin market place marketers must stay on top of current topics and trends as well as success stories and best practices of current players who successfully are leveraging and taking advantage of this Latino passion.”
The one-day conference will feature a morning-evening format, with the morning session bearing the panels and presentations from 8:00 AM until 12.45PM, an afternoon session, and after work from 6PM to 8:30PM, designated for networking and one-on-one exchanges.
The panel presentations will be streamed live to Latin America, Spain and Portugal by LatinVision’s partner NetStairs and promoted in English, Spanish and Portuguese by partners Business Wire and Business Wire’s LatinoWire.
The panelist Lineup includes:
Chris Russo, CEO, Big Lead Sports
Bill Squadron, Sports Chief, Bloomberg Sports
Anthony Eros, Founder, Eros Company
Michelle Bella, VP Marketing, ESPN Deportes
Marcus Jimenez, Partner / Principal, Huemanitas
Hugo Hernandez, Director Sports Initiatives, Impremedia
Seneca Mudd, Director, Interactive Advertising Bureau
Carlos Vassallo, CEO, LatinVision Media
Jean Jimenez, Business Development & Sales, Mobile Messaging Solutions
Saskia Sorrosa, Senior Director of US Hispanic Marketing, NBA
Manuel Garcia, Director Latino Affairs, New York Yankees
Alvaro Saralegui, SVP, NFL
Oscar Allain, Account Director, Multicultural Marketing, Octagon
Javier Farfan, Director of Cultural Branding at PepsiCo, Pepsico
Juan Delgado, Managing Director North America, Perform Group
Chris Lencheski, Founder & CEO, Phoenicia Sport & Entertainment
Joseph Schramm, Managing Partner, Schramm Marketing Group
Russell Findlay, Chief Marketing Officer, Soccer United Marketing
Vicente Navarro, Director of Hispanic Marketing, Sports Endeavors, Inc.
Liz Sarachek Blacker, Chief Revenue Officer, Terra Networks
Daniel Traver, Director of Business Development, Traver Hispanic Marketing Group
For more information about the conference, to register and sponsor: www.latinvision.com/conference/sports and http://www.latinvision.com/conference/sports/sponsors.pdf
To learn more about LatinVision Media 2011 Conferences Series: www.latinvision.com/marketing
About LatinVision Media
LatinVision Media, Inc. is a New York-based company that operates business portals targeting U.S. Hispanic and Latin American entrepreneurs, business owners, executives and professionals in small and medium-sized companies. LatinVision portals include: http://www.latinvision.com/; www.latinvision.com/finance; www.latinvision.com/jobs; www.latinvision.com/digital among others. For more information: http://tinyurl.com/LatinVision
About Business Wire
Business Wire, a Berkshire Hathaway company, celebrates its 50th anniversary in 2011 as the global leader in press release distribution and regulatory disclosure. Public relations and investor relations professionals rely on Business Wire for both broad-based and targeted market reach. A recognized disclosure service in the United States, Canada and a dozen European countries, Business Wire handles XBRL tagging, document formatting and regulatory filing into EDGAR, SEDAR and other systems. Business Wire provides online newsroom hosting and integration services as well as search engine optimization, mobile distribution and detailed measurement on every press release. Its patented NX delivery platform provides simultaneous full-text posting of Business Wire content to news systems and websites in virtually any country or language. With 32 bureaus worldwide, Business Wire offers local service and global reach.
Learn more at BusinessWire.com and the BusinessWired blog; follow updates on Twitter: @businesswire or on Facebook.
NetStairs® celebrates its 10th anniversary. Since 2000, the company has pioneered and built open standard media infrastructures and platforms for ad agencies, global brands, publishers, TV stations, broadcasters, event promoters, content aggregators, and enterprises with CMS Web 2.0 / Web 3.0 sought solutions. As an intelligent media delivery enabler, NetStairs platforms are founded on industry standards with focus on interactive, live, on demand, and streaming protocols. For more information, visit: http://www.netstairs.com/.
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