Read full article: Brilliant Management Advice From Google’s Eric Schmidt on How Google Works
Started in early 2009, Google Ventures has seen an increasing number of successful investments over recent years. As part of the program Google Ventures launched a Start-up Lab program to create an innovation lab; a place where entrepreneurs can develop their products, collaborate and tap into google employees. Moreover, to develop in-depth knowledge, Google Ventures created the Start-up University, a place where entrepreneurs “can bring questions, curiosity and unsolved problems to the table.”
This University program has been a huge success, according to Bill Maris, Google Ventures’ managing partner: “This is a program that people are vigorously signing up for,” Maris said. “We have a waiting list of teachers, and these are all people who have started companies before, and who have been there. We can’t feed this stuff to our portfolio companies fast enough,” so he said to the Wall Street Journal. Therefore, Google Ventures is expanding: from 1100 m2 to 2250 m2 in the near future. The total amount of capital has grown from 100 million dollar annually in 2009 to 200 million dollar annualy in 2012.
Some of the most successful results of Google Ventures are the exits of HomeAway vacation rental services and gaming company Ngmoco who exited for 400 million dollar each last year. Another company, Silver Spring Networks, developing smart grids, went public last year.
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