Harvard Case - Jerry Rao: Diaspora and Entrepreneurship in the Global Economy
"Jerry Rao: Diaspora and Entrepreneurship in the Global Economy" Harvard business case study is written by R. Daniel Wadhwani. It deals with the challenges in the field of Entrepreneurship. The case study is 24 page(s) long and it was first published on : Nov 3, 2004
At Fern Fort University, we recommend that Jerry Rao leverage his extensive experience and network to establish a global platform for supporting and accelerating diaspora entrepreneurship. This platform would act as a central hub for connecting entrepreneurs, investors, and resources, facilitating cross-border collaborations and fostering innovation within the global economy.
2. Background
This case study focuses on Jerry Rao, a successful Indian entrepreneur who has built a career in the technology sector, primarily in the United States. He recognizes the potential of the Indian diaspora as a powerful force for driving global entrepreneurship and innovation. Rao?s ambition is to harness this potential by creating a platform that connects diaspora entrepreneurs with resources, investors, and opportunities in their home countries and beyond.
The main protagonists of this case are Jerry Rao and the vast network of Indian diaspora entrepreneurs. The case study explores the challenges and opportunities associated with building a successful platform for supporting diaspora entrepreneurship.
3. Analysis of the Case Study
This case study provides a valuable opportunity to explore the intersection of entrepreneurship, globalization, and diaspora communities. It highlights the potential of leveraging the unique skills, networks, and resources of diaspora entrepreneurs to drive economic growth and innovation.
Strategic Analysis:
- Competitive Advantage: Rao?s platform could leverage the existing network of diaspora entrepreneurs, providing a unique competitive advantage in the global entrepreneurship ecosystem.
- Market Segmentation: Targeting diaspora entrepreneurs based on industry, location, and stage of development allows for tailored support and resource allocation.
- Growth Strategy: The platform can expand its reach by partnering with incubators, accelerators, and venture capital firms in both home countries and host countries.
- Disruptive Innovation: The platform could disrupt traditional models of entrepreneurship by facilitating cross-border collaboration and access to global markets.
Financial Analysis:
- Funding Sources: Rao can explore various funding sources, including venture capital, angel investing, crowdfunding, and government grants.
- Business Model: The platform can generate revenue through membership fees, access to resources, and equity participation in successful ventures.
- Scalability: The platform?s success hinges on its ability to scale efficiently, attracting a large and diverse user base.
Operational Analysis:
- Technology and Analytics: The platform needs robust technology infrastructure, including web and mobile applications, to connect users and facilitate communication.
- Information Systems: A strong information system is essential for managing user data, tracking progress, and providing personalized support.
- Organizational Structure and Design: A flexible and agile organizational structure is crucial to adapt to the evolving needs of the platform and its users.
4. Recommendations
Jerry Rao should implement the following recommendations to establish a successful platform for diaspora entrepreneurship:
Develop a Comprehensive Platform: Create a robust platform that connects diaspora entrepreneurs with resources, investors, mentors, and potential partners. This platform should offer a range of services, including:
- Networking: Facilitating connections between entrepreneurs, investors, and mentors.
- Information Sharing: Providing access to industry reports, market trends, and best practices.
- Funding Opportunities: Connecting entrepreneurs with potential investors and funding sources.
- Business Development: Offering guidance on market entry strategies, business plan development, and marketing.
- Mentorship and Support: Providing access to experienced mentors and advisors.
Leverage Existing Networks: Rao should leverage his extensive network of contacts within the diaspora community and the technology sector. This network can provide valuable insights, access to resources, and initial support for the platform.
Build Partnerships: Establish partnerships with key stakeholders in the entrepreneurship ecosystem, including incubators, accelerators, venture capital firms, and government agencies. These partnerships can provide access to resources, expertise, and a broader network.
Focus on Key Market Segments: Target specific market segments within the diaspora community, such as entrepreneurs in high-growth sectors, technology-driven businesses, and those seeking to expand into new markets.
Develop a Strong Brand and Marketing Strategy: Create a strong brand identity that resonates with the target audience. Implement a comprehensive marketing strategy to raise awareness of the platform and its value proposition.
Embrace Technology and Analytics: Invest in robust technology infrastructure to ensure a seamless user experience and data-driven decision-making. Utilize analytics to track user engagement, identify trends, and optimize platform features.
Foster a Collaborative Culture: Create a culture of collaboration and support within the platform. Encourage knowledge sharing, peer-to-peer mentorship, and cross-border collaborations.
Measure Impact and Sustainability: Develop a framework for measuring the platform?s impact on diaspora entrepreneurship. Ensure the platform is financially sustainable through a combination of revenue generation and strategic partnerships.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The platform aligns with Rao?s expertise in the technology sector and his commitment to supporting diaspora entrepreneurship.
- External Customers and Internal Clients: The platform caters to the needs of diaspora entrepreneurs seeking to launch or grow their businesses. It also serves the interests of investors and other stakeholders in the entrepreneurship ecosystem.
- Competitors: The platform needs to differentiate itself from existing platforms and initiatives by offering a unique value proposition, such as a focus on cross-border collaboration and access to global markets.
- Attractiveness: The platform?s attractiveness will be based on its ability to provide tangible benefits to its users, including access to resources, funding, and a supportive community.
6. Conclusion
Jerry Rao?s vision for a global platform supporting diaspora entrepreneurship is a compelling one. By implementing the recommendations outlined above, Rao can create a powerful force for driving innovation and economic growth within the global economy. The platform has the potential to empower diaspora entrepreneurs, connect them with resources and opportunities, and contribute to the development of their home countries.
7. Discussion
Alternatives:
- Focus on a specific industry or region: Instead of a broad platform, Rao could focus on a specific industry or region within the diaspora community. This could allow for more targeted support and resource allocation.
- Partner with existing platforms: Rao could collaborate with existing platforms and initiatives to leverage their resources and reach.
Risks and Key Assumptions:
- Competition: The platform will face competition from existing platforms and initiatives.
- User adoption: The platform?s success depends on attracting a large and active user base.
- Funding: Securing sufficient funding to develop and operate the platform is crucial.
8. Next Steps
- Develop a detailed business plan: Outline the platform?s features, target market, revenue model, and operational plan.
- Secure funding: Seek funding from venture capitalists, angel investors, or other sources.
- Build a team: Recruit a team of experienced professionals with expertise in technology, entrepreneurship, and international business.
- Develop the platform: Build a robust platform with user-friendly features and robust technology infrastructure.
- Launch the platform: Launch the platform to the target audience and begin marketing efforts.
- Monitor and evaluate: Track user engagement, measure impact, and make adjustments to the platform based on feedback and data.
By taking these steps, Jerry Rao can create a successful platform that empowers diaspora entrepreneurs and contributes to the global economy.
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Case Description
Focusing on one entrepreneur, Jerry Rao, this case examines the international career paths of Indian business professionals and engineers since the development of public policies beginning in the 1960s to attract them to developed countries like the United States. Explores why these professionals often chose to leave India in pursuit of economic opportunities abroad in the 1960s through 1980s and why many seem now to be returning to their homeland to start or run businesses. Also, considers the role of Diaspora of Indian professionals in contributing to the development of the export-oriented Indian IT sector.
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