Stanford University

Quest for the Next Wave of High Tech Industry Growth

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The trend for globalization of high-tech industries has gained momentum during the last few years. In particular, the Asia Pacific region has become an increasingly important market for U.S. high tech companies. What investors, both the public market and VCs, look for now are companies with revenue growth and a clear path to profit. The challenge for technology companies and investors is to define the roadmap to weather through the current downturn and build strength to grow when the market returns. The companies that will succeed are the ones that are close to the market, with the ability to produce their products at a reduced cost.

China, with its mass population, is undeniably an enormous market. It not only presents a broad customer base for the high-tech industry, but also an attractive low-cost manufacturing center. There is no doubt that Greater China is a lucrative region to ride the next wave of high-tech industry growth. We all want to capture this golden opportunity. How do we address this huge consumer market? How do we fully utilize the emerging labor support to lower production costs? For venture capitalists, how do we find legitimate ways to get return on our investments?

Taiwan is now China's leading trade partner and investor. Over 25 percent of Taiwan's exports are headed to China, according to the latest official statistics. With its geographic proximity, a well-established technology and business support infrastructure, as well as a common language and similar culture background, Taiwan is well positioned as a gateway to the China. In addition, Taiwan has built a well-recognized capital market in the past three decades. This highly liquid capital market is the best support for the high-tech industry as well as VC players.

In this session, Katherine Jen, a veteran venture capitalist, will lead the audience through her strategy in the quest for the next wave of high-tech industry growth and identify the key success factors.

About the Speaker

Katherine Jen is the managing partner of AsiaTech Management, LLC, a venture capital firm investing in the Silicon Valley and Asia. Katherine's successful venture capital career began in the early eighties. During her two decades in the Ministry of Finance in Taiwan, Katherine ran a $3 billion government investment fund, instrumental in the founding of successful high-tech companies such as TSMC and Moses-Vitelic. She also served on the TSMC board of directors from 1989-1993.

Katherine was one of the pioneers in Taiwan's VC industry. She led many key initiatives in venture capital legislations, including the adoption of the first Venture Capital Act in Taiwan. She helped establish the first group of venture capital funds in Taiwan, including Hotung Ventures, H&Q Asia and Walden International Taiwan (IVCIC). In addition, she founded the venture capital firm Genesis Venture in Taiwan and successfully raised its first fund. As a leader in the Taiwan financial industry, she served on the board of International Commercial Bank of China (ICBC), the largest commercial bank in Taiwan.

Based on the belief that Silicon Valley technologies can find much broader markets if they are combined with the efficient manufacturing industry in Asia, she founded AsiaTech and raised its first fund in 1997. Today, with operations in the Silicon Valley and Taiwan, AsiaTech manages three funds with strong backing from Asian-based manufacturing companies, commercial and investment banks, and government.

Philippines Conference Room, Encina Hall, Third Floor, Central Wing

Katherine Jen Managing Partner AsiaTech Management LLC
Seminars
Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE)

The Battle for the Japanese Corporate Soul

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Oksenberg Conference Room, Encina Hall, Third Floor, South Wing

Ronald Dore Social Scientist Speaker Centre for Economic Performance, London
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Walter H. Shorenstein Forum for Asia Pacific Studies

Entrepreneurs in Development

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Encina Hall, Ground Floor East Wing, E008

John McMillan Speaker
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Immigration, Inequality, and Economic Growth: Approaches from Justice and Status Theory

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Encina Hall, Ground Floor, East Wing, E008

Guillermina Jasso Speaker

Eva Meyersson Milgrom

CDDRL
Stanford University
Encina Hall, Room C144
Stanford, CA 94305-6055

(650) 724-7985 (650) 724-2996
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Visiting Associate Professor at the Graduate School of Business
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Eva Meyersson Milgrom is a senior research scholar at CDDRL and a visiting associate professor at Stanford's Graduate School of Business and the Public Policy Program. She is also an associate professor and senior research fellow at the School of Business at Stockholm University in Sweden.

Her current research focuses on the following topics: (1) implications of social behavioral theories on economic growth, in conjunction with Guillermina Jasso of New York University; (2) institutional change and its effects on promotion and demotion in Swedish private companies; inter-firm wage mobility in Sweden from 1979-1990; labor markets segregation (firm and individual characteristics) in collaboration with Illong Kwon of the University of Michigan along with Mike Gibbs and Kathy Lerulli; (3) equity considerations and the trade-offs between complementarities and influence costs within organizations; and (4) the structure of inequality and extremism. At Stanford, she has taught courses on international corporate governance and on managing diversity.

Her previous interdisciplinary work includes the following: In the summer of 2002, she organized a laboratory to provide an institutional analysis of economic growth based on firm-matched data from four Scandinavian countries. In fall 2002, she organized a conference that brought together scholars from diverse fields to analyze the phenomenon of suicide bombing and to discuss how this phenomenon affects current social science thinking and research. A book is in the works on this topic. Meyersson Milgrom also organized sessions on rational choice at the August 2002 meeting of the American Sociological Association.

Meyersson Milgrom previously served as a visiting scholar in the sociology departments at Stanford University (1998-2000) and Harvard University (2000-2001), and also served as a visiting associate professor at the Sloan School of Management, at the Massachusetts Institute of Technology (2001-2002).

Her recent books published in Sweden include: The State as a Corporate Owner (1998, with Susannah Lindh) and Compensation Contracts in Swedish Publicly Traded Firms (1994). Her recently published articles include: "An Evaluation of the Swedish Corporate System" in Hans T:son Soderstom (January 2003); "Pay, Risk and Productivity" in Finnish Economic Papers (with Trond Petersen and Rita Asplund); "Equal Pay for Equal Work? Evidence from Sweden, Norway and the United States" in the Scandinavian Journal of Economics (vol. 4, 2001, with Trond Petersen and Vermund Snartland); and "More Glory and Less Injustice: The Glass-Ceiling in Sweden 1970-1990" in Research in Social Stratification and Mobility (Kevin T. Leicht, editor, with Trond Petersen).

Meyersson Milgrom was born in Sweden and received a PhD in sociology from Stockholm University.

CDDRL Senior Research Scholar
Eva Meyersson Milgrom Speaker
Seminars

Prospects for Democratization

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Encina Hall Ground Floor Conference Room E008

Andreas Wimmer Speaker
Seminars

Japan's Long Economic Stagnation

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Oksenberg Conference Room, Third Floor South, Encina Hall

Daniel I. Okimoto

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Professor of Political Science, Emeritus
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A specialist on the political economy of Japan, Daniel Okimoto is a senior fellow emeritus of FSI, director emeritus of Shorenstein APARC, and a professor of political science emeritus at Stanford University. His fields of research include comparative political economy, Japanese politics, U.S.-Japan relations, high technology, economic interdependence in Asia, and international security.

During his 25-year tenure at Stanford, Okimoto served as a research fellow at the Hoover Institution and the Northeast Asia-United States Forum on International Policy, the predecessor organization to Shorenstein APARC, within CISAC. He also taught at the Aspen Institute for Humanistic Studies, the Stockholm School of Economics, and the Stanford Center in Berlin.

Okimoto co-founded Shorenstein APARC. He was the vice chairman of the Japan Committee of the National Research Council at the National Academy of Sciences, and of the Advisory Council of the Department of Politics at Princeton University. He received his BA in history from Princeton University, MA in East Asian studies from Harvard University, and PhD in political science from the University of Michigan.

He is the author of numerous books and articles, including Between MITI and the Market: Japanese Industrial Policy for High Technology; co-editor, with Takashi Inoguchi, of The Political Economy of Japan: International Context; and co-author, with Thomas P. Rohlen, of A United States Policy for the Changing Realities of East Asia: Toward a New Consensus.

Director Emeritus, Shorenstein APARC
FSI Senior Fellow, Emeritus
Daniel Okimoto Professor Speaker
Seminars

The Koreans and Their Neighbors

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America has called for a multilateral solution to the recent crisis on the Korean Peninsula. As a result, Russia, China and Japan have been asked to play a more active role in contributing to a peaceful resolution. Drawing on years of experience in this region, Ambassador Armacost gives us his insights into this volatile area, including prospects for change. Most recently (1995-2002), Armacost served as president of Washington D.C.'s Brookings Institution, the nation's oldest think tank and a leader in research on politics, government, international affairs, economics, and public policy. Previously, during his twenty-four year government career, Armacost served, among other positions, as undersecretary of state for political affairs and as ambassador to Japan and the Philippines. Registration: 7:30 pm Program: 8:00 pm Students with ID - Free Members of the World Affairs Council - $5 Nonmembers - $8

Stanford Law School Room 180, Stanford Campus

Michael H. Armacost Professor
Seminars
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