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The Entrepreneurial State

This prezi presentation accompanied a TED Global 2013 talk by Mariana Mazzucato, Edinburgh, June 12, 2013. The talk is based on her new book The Entrepreneurial State: debunking private vs. public sector myths.
by

Mariana Mazzucato

on 21 December 2015

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Transcript of The Entrepreneurial State

all
government funded
risk & return
so...
where is the return?
"me too" drugs
standard NMEs
priority NMEs
NIH funds almost
75%
of revolutionary new drugs
"me too" vs. innovative drugs
14%
19%
67%
where are the
private
sector
public
sector
vs.
gps
internet
cellular
communication
microchips
touchscreen
siri
european

g
o
o
g
l
e
s?

what is the state's role?
or
market fixing
market shaping
state as venture capitalist?
8000
7000
6000
5000
4000
3000
2000
1000
0
VC early stage
VC seed
STTR
SBIR phase II
SBIR phase I
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
who is funding the difficult stuff?
technology
market
existing
new
existing
new
increasing risk
evolutionary
radical
discontinuity
leverage
base
VC
Block and Keller 2012
Angell 2004

"Governments have always been lousy at picking winners, and they are likely to become more so, as legions of entrepreneurs and tinkerers swap designs online, turn them into products at home and market them globally from a garage.

As the
revolution rages,
governments should stick to the basics:
better schools for a skilled work-force, clear rules and a level playing field for enterprises of all kinds...
The Third Industrial Revolution,
The Economist
, April 21, 2012
Leave the rest to the revolutionaries."
inclusive
growth
market
the assumption
think again!

2013 TED Global talk presentation:
Mariana Mazzucato
Government: investor,
risk-taker, innovator
© Mariana Mazzucato
Full transcript