Entrepreneurship
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Minoru Aosaki, "International Banking Regulation after the Financial Crisis: Economic Impacts and Policy Challenges in the US, Japan, and the EU"

To address lessons of the financial crisis, the Basel Committee introduced a new international framework on banking regulations, known as Basel III. The world leaders subsequently committed to implement it at the last G20 summit meeting. A current key issue is how regulators in each country should/can transform their current regulatory regime to the new regime under their own economic and regulatory environments. To consider the issue, Aosaki examines how economic costs and benefits of the regulatory reform would vary among countries and discusses policy challenges of the regulators to ensure the benefits and mitigate the costs.


Pradnya Palande, "Population Dynamics: A New Approach in Understanding Cancer Development"

Cancer, the most vicious and hard to cure disease, results from an accumulation of genetic alterations best known as mutations, in our body. These mutations constantly keep evolving by natural selection. A consequence of this evolution is that a cancer treatment will tend to kill the susceptible cells but will leave the resistant ones to flourish. A few months later, the cancer will reappear and will be resistant to previous treatment. Hence studying the population dynamics of cancer will provide insight into development of cancer and will help in developing better methods for cancer prevention and therapy.

Palande has concentrated her research on population dynamics of cancer cells in chronic myeloid leukemia, a type of blood cancer. She is trying to study the role of the antibody diversification enzyme, namely Activation Induced cytidine Deaminase (AID), in the generation of mutations associated with cancer progression and drug resistance in chronic myeloid leukemia.

Naoki Takeuchi, "Energy Policies, Clean Technologies, and Business Innovations in the United States"

In January 2011, at his State of the Union speech, President Obama suggested setting a goal that 80% of electricity will come from clean energy sources in the United States by 2035. He also suggested that the United States will become the first country to have a million electric vehicles on the road by 2015. 

In Takeuchi's research, he tries to understand the dynamic interactions among government energy policies, clean technologies, and business innovations in the United States. His research includes an overview of federal energy policies (both regulations and incentives), an overview of California State government policies, recent trends of clean technologies, venture capital investments in cleantech companies, and major areas of clean technologies and business innovations. In this presentation, Takeuchi will present case studies focusing on cleantech companies in the Silicon Valley.

Philippines Conference Room

Minoru Aosaki Speaker Ministry of Finance, Japan
Pradnya Palande Speaker Reliance Industries
Naoki Takeuchi Speaker Development Bank of Japan
Seminars

Brochure for STAJE April conference

The meeting will bring together over 30 scholars on Japan to discuss new developments in Japan, including potential opportunities opening up after the Great Eastern Japan Earthquake. We will have 22 paper presenters and discussants, with topics ranging from new firm profitability, the politics of firm creation, management of innovation, and large firm entrepreneurial processes in Japan. The goal is to lead to a better understanding of the nature of entrepreneurship, and how analyses of Japan might inform more theoretical discussions.

Also, in view of the disastrous earthquake and tsunami that has recently afflicted Japan, the conference will feature a panel of prominent experts on Japan's economic, social systems, business, and government who will discuss the effects of the great earthquake on research and today's Japan.

Bechtel Conference Center

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On Friday, April 1, Stanford University hosted twelve North Korean officials making an unprecedented economic tour of the United States. Organized by Professor Susan Shirk of the University of California Institute on Global Conflict and Cooperation, the two-week tour of American businesses and academic institutions was an opportunity for the visitors to see firsthand what improved relations with the United States might mean in terms of economic cooperation.

The North Koreans included senior and mid-level officials responsible for economic, trade, financial and foreign affairs. Their visit took place despite the lack of diplomatic relations between the United States and the Democratic People's Republic of Korea (DPRK) and the continuing U.S. and UN sanctions against the country for its development of nuclear weapons and long-range missiles.

Welcoming the visitors to a luncheon in Encina Hall, David Straub, associate director of the Korea Program at the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC), briefed them on the Freeman Spogli Institute for International Studies at Stanford University (FSI) and its research centers, including Shorenstein APARC and the Center for International Security and Cooperation (CISAC). Straub also introduced representatives from FSI and the School of Medicine who have been involved in policy, academic, and humanitarian engagement projects with the DPRK.

Mr. Henry S. Rowen, co-director of the Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE), then outlined the history and organization of Stanford University and its leading role in the development of Silicon Valley. Mr. John Sandelin, senior associate emeritus of the Stanford Office of Technology Licensing, described the university's policies on sharing university-generated intellectual property with the private sector. Following the presentations, American guests at the luncheon, including CISAC's Dr. William J. Perry and Dr. Siegfried S. Hecker, had informal discussions with their North Korean tablemates about the possibilities of, and obstacles to, economic collaboration between the two countries.

The North Koreans' visit to Stanford concluded with a stop at the Hoover Tower observation deck for a panoramic view of the Stanford campus, where they were able to see how Stanford graduates had developed Silicon Valley literally around the campus. DPRK delegation members expressed appreciation for the hospitality they were shown at Stanford and underlined their hopes for economic exchanges with the United States.

The most recent previous visit to Stanford by a DPRK delegation took place in January 2008, when CISAC Professor John W. Lewis, Shorenstein APARC director Gi-Wook Shin, and the School of Medicine's Dr. Sharon Perry hosted five public health officials for discussions about collaboration on tuberculosis control. Out of that visit evolved Stanford's DPRK Tuberculosis Project, which, in association with the DPRK Ministry of Public Health and NGO partners, is developing the country's first laboratory with the capacity to diagnose drug-resistant tuberculosis.

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Japan's massive earthquake and tsunami three weeks ago and the challenging recovery process continue to make news headlines around the world. It is difficult to separate fact and reasonable speculation about the future from the terror-filled coverage about radiation leaking from the Fukushima nuclear complex. In an effort to make sense of recent events, the Walter H. Shorenstein Asia-Pacific Research Center (Shorenstein APARC) convened a panel of experts for a discussion about the possible future implications arising from this complex and emotionally charged situation for Japan's energy policy, economy, and politics.

Addressing an audience of one hundred students, faculty, and members of the general public on March 30, Shorenstein APARC associate director for research Daniel C. Sneider expressed the center's deep sympathy for those affected by the natural disasters and its profound admiration for the way in which the people of Japan are dealing with the aftermath. Members of the panel echoed these sentiments throughout the event.

Michio Harada, Deputy Counsel General at the Consulate General of Japan in San Francisco, cited official government figures indicating that, as of March 28, twenty-eight thousand people were dead or missing and one-hundred-and-eighty thousand people were still in evacuation shelters. Faced with such staggering figures, Japan remains in a rescue and recovery phase, he said, but is receiving a tremendous amount of global support. More than one hundred and thirty countries have provided financial assistance, and eighteen countries and regions have sent rescue teams. Collective public spirit is currently very strong, Deputy Counsel Harada emphasized. Japan's challenge moving forward, he suggested, will be to adopt pragmatic measures to fund reconstruction projects in the areas destroyed or damaged by the natural disasters.

Understanding the situation at the Fukushima nuclear power facility and the information circulating about the potential health risks of radiation exposure is complicated, stressed Siegfried S. Hecker, co-director of the Center for International Security and Cooperation. He described the intricate design and structure of the reactors and outlined the sequence of events up to the present, explaining the immediate, crucial challenge of continuing to cool the reactors and deal with the leakage of radiation from them. While there are definite and potentially very serious health threats from radiation exposure and contamination, Hecker said, fear and stress about the situation could also negatively affect mental and physical wellbeing. It is too soon to know the long-term implications for energy policy in Japan and other countries, he suggested, emphasizing the significance of learning from this experience in order to improve any future use of nuclear power.

Robert Eberhart, a researcher with the Stanford Program on Regions of Innovation and Entrepreneurship, proposed that the global supply chain is flexible enough to absorb any manufacturing disruptions in Japan. He noted that in the past twenty years most of Japan's heavy manufacturing has moved overseas, and that the components made there are a comparatively less significant part of the supply chain. In terms of the overall impact on Japan's economy, Eberhart suggested that the net effect on the GDP would be neutral over the next two years, explaining that the imminent loss of business and investment in some areas would be offset by the growth of firms involved in the reconstruction process.

Phillip Lipscy, a center fellow at the Freeman Spogli Institute for International Studies and an assistant professor with the Department of Political Science, stated that events and immediate needs during the early stages of reconstruction may have long-term affects on policymaking and the government structure in Japan. For example, the continued use of nuclear energy—a relatively clean and efficient source of power accounting for 30 percent of Japan's total energy consumption—will face public opposition due to rising concerns about safety and pressing energy needs. In addition, while Prime Minister Naoto Kan's prompt response after the natural disasters helped boost popular sentiment for him and the Democratic Party of Japan (DPJ), how they fare in the long term—especially with regard to the DPJ's relationship with the opposition Liberal Democratic Party and reconstruction-related modifications to its key economic policies—remains to be seen, Lipscy said.

Sneider closed the event with a comparison between the events in Japan and the April 2010 Gulf of Mexico oil spill, pointing to criticism that the Obama and Kan administrations have received for not regulating large corporations closely enough. A prompt resolution to the dangerous—and contentious—situation at the Fukushima nuclear complex is the most immediate concern, and one that will help foretell the long-term political implications for Japan's government, he concluded.

Although there is still a long road ahead in Japan—especially until the accident at Fukushima's nuclear reactor is contained and the actual after-effects of radiation are better understood—the underlying message during the panel discussion was that Japan will indeed recover and that the terrible events of the past weeks have brought people—and even the competing political parties—closer together.

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From how failure drives innovation to the role of government in supporting entrepreneurship, two expert professors at Stanford led a training session for executives from Chinese state-owned enterprises (SOE) as part of the 2011 Cisco China 21st Century Enterprise Leader Program (ELP) hosted by Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE) on March 22, 2011.

Professor William F. Miller, Co-Director of SPRIE, kicked off the session with a stimulating presentation on Silicon Valley's habitat for innovation. He pointed out that turning technology into business was the essence of Silicon Valley, and a favorable business, social and political environment in the region had facilitated the process. Despite the emergence of other venture capital locations, Silicon Valley scooped up almost 40% of venture deals and dollars across the U.S. in the last quarter of 2010, according to the MoneyTree Report.

The "restless pioneer spirit" of Stanford had always played a crucial role in the effective interaction between research institutes and industry, Miller argued.

Following Miller's discussion of features of Silicon Valley's entrepreneurial habitat, William Barnett, Thomas M. Siebel Professor of Business Leadership, Strategy, and Organizations at the Stanford Graduate School of Business, shared his thoughts on how to discover successful business models.

"Having great technologies is not enough," said Barnett. "Entrepreneurs are like scientists. Successful business models are learned from failures." Barnett encouraged the leaders present to create a working environment within which failure would be tolerated. He further urged them to accelerate the learning process by asking what might go wrong.

The purpose of the SPRIE session, which is part of a 12-day US-based program organized by Cisco Systems and China's State-owned Assets Supervision and Administration Commission (SASAC), is to help the SOE executives understand how to foster innovation and to drive operational excellence. The delegation is composed of SASAC officials, Peking University professors and leaders from 17 SOEs in China, including Southern Power Grid, Three Gorges Corporation, China Telecom, China Unicom, China Mobile, China FAW Group, Harbin Electric Corp., Anshan Iron and Steel Group, Baosteel Group, China Ocean Shipping Company, China Eastern Airlines, China Oil and Foodstuffs Corporation, State Development and Investment Corporation, China Merchants, China Railway Group and China Railway Construction.

 

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