FINANCIAMIENTO DE INICIATIVAS DE EMPRENDIMIENTO EN EL MUNDO JUAN ANTONIO LILLO, MBA.

FINANCIAMIENTO DE INICIATIVAS DE EMPRENDIMIENTOEN EL MUNDO

JUAN ANTONIO LILLO, MBA

Bygrave & Zacharakis, Entrepreneurship, New York: Wiley, 2011. ©

Growth in the Implementation of Microcredit 1997-2007

YearNumber of

Institutions ReportingTotal Number of Clients

ReachedNumber of 'poorest' clients

reported1997 618 13,478,797 7,600,0001998 925 20,938,899 12,221,9181999 1,065 23,555,689 13,779,8722000 1,567 30,681,107 19,327,4512001 2,186 54,932,235 26,878,3322002 2,572 67,606,080 41,594,7782003 2,931 80,868,343 54,785,4332004 3,164 92,270,289 66,614,8712005 3,133 113,261,390 81,949,0362006 3,316 133,030,913 92,922,5742007 3,552 154,825,825 106,584,679Daley-Harris, S. "State of the Microcredit Summit Campaign Report 2009." 4. http://www.microcreditsummit.org/uploads/socrs/SOCR2009_English.pdf

Microfinancing by Region 2007

2007 Asia Africa & Middle EastLatin America &

Caribbean Europe

Number of Poorest Families 123 60.4 9.4 0.8

Number Reached by Microfinance 96.5 7.5 2.2 0.2

Percent Coverage 78% 12% 24% 29%

2007 Source: Daley-Harris, S. "State of the Microcredit Summit Campaign Report 2009." Page 30.

http://www.microcreditsummit.org/uploads/socrs/SOCR2009_English.pdf

Microfinanzas & Microcrédito


0%

2%

4%

6%

8%

10%

12%

Pre

vale

nce R

ate

Informal Investor Prevalence Rate, 2009

12.2

%18

.6 %

Inversionistas Informales

Henry

x-axis labels were not legible at a 7.5 font, but not all countries fit when the font size is large enough to read


0

1

2

3

4

5

6

7

Am

ou

nt o

f In

form

al C

ap

ital, %

GD

P

Amount of Informal Investment as % GDP, 2009

10.3

3 %

11.2

9 %

Inversión Informal

Henry

x-axis labels were not legible at a 7 font, but now not all countries fit when the font size is large enough to read


Montos anuales por Inversionista Informal


Capital Semilla por Compañia


Retornos Financieros por Inversión Informal


Oferta/Demanda por Financiamiento Semilla


Inversión Informal vs. Capital de Riesgo

0

0.5

1

1.5

2

2.5

3

Fin

land

UK

No

rway

Hung

ary

Jap

an

Sp

ain

Ko

rea

Germ

any

Fra

nce

Neth

erla

nd

s

Sw

itzerla

nd

Denm

ark

Ro

mania

Italy

Belg

ium

Gre

ece

Slo

venia

So

uth

Afric

a

US

A

Serb

ia

Cro

atia

Isra

el

Chin

aIn

form

al in

vestm

en

t an

d

ven

ture

cap

ital

as p

erc

en

t o

g G

DP

Venture capital

Informal investment

11.4%


Inversión Clásica en Capital de Riesgo

0.00

0.02

0.04

0.06

0.08

0.10

0.12

0.14

0.16

0.18

0.20

Serb

ia

Cro

atia

Slo

ven

ia

Gre

ece

Au

stra

lia

Ital

y

Po

lan

d

Au

stri

a

Hu

nga

ry

Ro

man

ia

Ne

w Z

eal

and

Po

rtu

gal

Ge

rman

y

Be

lgiu

m

Swit

zerl

and

Jap

an

Fran

ce

No

rway

Ne

the

rlan

ds

Spai

n

De

nm

ark

Fin

lan

d

Ko

rea

Can

ada

Ire

lan

d

Ch

ina

UK

Swe

de

n

USA

Sou

th A

fric

a

Isra

el

Per

cen

tage

of G

DP

All Stages of VC

Seed, Startup, Early Stages

0.4

41

.03

0.4

3


Inversión Clásica en Capital de Riesgo

0

2,000

4,000

6,000

8,000

10,000

12,000Po

rtug

al

Finl

and

Japa

n

Aus

tria

Ger

man

y

Aus

tral

ia

Belg

ium

Irel

and

Pola

nd

Nor

way

Swed

en

Den

mar

k

Euro

pe

Switz

erla

nd

Fran

ce

Cana

da

Net

herl

ands UK

Isra

el

Spai

n

Rom

ania

Hun

gary

Italy

USA

Chin

a

US

$ (1

,000

)

Nominal (2008) US$

Adjusted for PPP

16,414

Henry

The two graphs become hard to read when I size them to fit side by side, so I added two animations. On the first mouse click, the slide zooms in on the "% of GDP" graph, and then the "investment per company" graph on the second mouse click.


GLAMOROUS

AMBITIOUSECONOMIC

CORE

CONSTRAINED

Innovation

GrowthHighLow

High

Low

SuperStars

Classic venture capital

Informal investments by family,friends, and foolhardy strangers

$199 billion to millions of ventures

$28.4billionto 3,192ventures

Financing Entrepreneurial Ventures, U.S., 2008

Financiamiento de Iniciativas Emprendedoras


Flujos de Capital Riesgo


0

10

20

30

40

50

60

70

0

5,000

10,000

15,000

20,000

25,000

30,000

85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08

Tota

l Rai

sed

by V

C-Ba

cked

IPO

s, $

Mill

ions

Venture Capital IRR and Total Amount Raised by VC-Backed IPOs

Amount of IPOs VC IRR %

Ven

ture

Capi

tal I

RR, %

-32% -22%

Retornos sobre Capital de Riesgo

FINANCIAMIENTO DE INICIATIVAS DE EMPRENDIMIENTO EN EL MUNDO JUAN ANTONIO LILLO, MBA.

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