GTS2014 changing along with Silicon Valley
March 27, 2014, Global Technology Symposium, San Mateo, CA – The symposium celebrated its 11th edition this year and picked up a new venue for its two-day event; a brand-new incubator, under the name Draper Hero City in downtown San Mateo. The building that was once the Benjamin Franklin Hotel but was unoccupied for the last few years, has been changed to serve a new purpose. The front entrance displays the photos of two of the biggest entrepreneurs and visionaries of our time: Steve Jobs and Elon Mask. No wonder that a Tesla car serves as the front reception desk and bean bags replace chairs. The space has a young, modern, entrepreneurial look. Its creator, Tim Draper is co-founder of Menlo Park VC firm Draper Fischer Juvetson.
“Entering into its second decade, GTS is staying ahead of the curve by creating a platform for dealmakers” – said GTS Founder and President Alexandra Johnson.
The first day keynote traditionally was opened by Franklin Pitch Johnson, legendary venture Silicon Valley capitalist. Back in the Fifties when the term “venture capital” or “venture capitalist” did not exist, Pitch Johnson and his friend William Draper established “Draper and Johnson Investment Company” and laid the foundation of investing in startups, what was then a new practice at that time.
In 1965, Johnson established his own company, Asset Management Ventures, which rapidly grew over the years, and made him a very successful VC in Silicon Valley. The company, which is still around today, has invested in over 250 innovation projects, such as Amgen, Biogen, IDEC Pharmaceuticals, Genentech, Teradyne, and Tandem Computer. He was later director of the National Venture Capital Association and the Western Association of Venture Capitalists. He also inspired young students by teaching classes in entrepreneurship and venture capital at the Stanford Business School.
In 2005 through the Hoover Press, Mr. Johnson wrote that entrepreneurship and democracy are closely linked, because they are both dimensions of personal freedom. Entrepreneurs are mondern revolutionaries who use their economic & intellectual freedom to challenge existing economic, social, and political structures. Creating an entrepreneur friendly environment and broad acceptance for the entrepreneurship is the main factor for innovation. This theme was furthered by discussion at the GTS and the new incubator on how they are focusing on cultivating and enabling innovation in both young and transitional entrepreneurs.
In his speech at the Global Technology Symposium, Mr. Johnson recalled a time in ’90 when he and William Draper (Tim’s father) were actively involved in government programs with a goal of establishing venture capital and entrepreneurial activities in Central and Eastern Europe. On that trip, Pitch and Bill went to the Soviet Union and other socialist countries to give talks about the wonders of venture capital in Silicon Valley.
Today Russia has its own Silicon Valley and delegates from Skolkovo are present at the Global Technology Symposium every year.
