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C ELSIUS   C APITAL   A T ECHNOLOGY  I NVESTMENT  F IRM   Pushing the Technology Frontier: Technology Investments in Emerging Markets Carlos M. Bhola Managing Partner Washington, D.C. May 20, 2005
U.S. I NNOVATIONS HAVE BEEN  S UCCESSFULLY  R EPLICATED IN  O THER  G EOGRAPHIES Auctions Portal Search Travel Retail Recruitment Europe Japan Emerging Markets United States Mid 90’s Late 90’s Early 00’s Financial Services
E MERGING  M ARKETS  R EMAIN IN THE  “C OPYCAT ” S TAGE OF  D EVELOPMENT  … Purchase Copycat Innovate ? ? ? ? ? TODAY
… B UT  N ATIVE  I NNOVATION WILL  E VENTUALLY  F LOWER IN  K EY  I NDUSTRY  S ECTORS  … China India Russia Latin America Mobile Applications Networking Semiconductors Broadband Applications Software Development –  High relevance –  Low relevance KEY:
… A LTHOUGH   THE  H URDLES TO  S UCCESS ARE  S IGNIFICANT Management Talent Capital Markets Infrastructure Government Support Governance China India Russia Latin America Mature Evolving Fledgling Abundant Sufficient Scarce Established Evolving Suspect Leapfrog Established Decrepit Enthusiastic Nurturing Non-existent
C ELSIUS  C APITAL : P ROVEN  I NVESTMENT  S UCCESS IN  C HINA AND THE  U.S. ,[object Object],[object Object],[object Object],[object Object],[object Object],Representative Entrepreneurial Activities Representative Investment Activities
I NTRODUCTION TO  P ANELISTS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Q&A session to follow presentations

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Technology Investments in Emerging Markets

  • 1. C ELSIUS C APITAL A T ECHNOLOGY I NVESTMENT F IRM Pushing the Technology Frontier: Technology Investments in Emerging Markets Carlos M. Bhola Managing Partner Washington, D.C. May 20, 2005
  • 2. U.S. I NNOVATIONS HAVE BEEN S UCCESSFULLY R EPLICATED IN O THER G EOGRAPHIES Auctions Portal Search Travel Retail Recruitment Europe Japan Emerging Markets United States Mid 90’s Late 90’s Early 00’s Financial Services
  • 3. E MERGING M ARKETS R EMAIN IN THE “C OPYCAT ” S TAGE OF D EVELOPMENT … Purchase Copycat Innovate ? ? ? ? ? TODAY
  • 4. … B UT N ATIVE I NNOVATION WILL E VENTUALLY F LOWER IN K EY I NDUSTRY S ECTORS … China India Russia Latin America Mobile Applications Networking Semiconductors Broadband Applications Software Development – High relevance – Low relevance KEY:
  • 5. … A LTHOUGH THE H URDLES TO S UCCESS ARE S IGNIFICANT Management Talent Capital Markets Infrastructure Government Support Governance China India Russia Latin America Mature Evolving Fledgling Abundant Sufficient Scarce Established Evolving Suspect Leapfrog Established Decrepit Enthusiastic Nurturing Non-existent
  • 6.
  • 7.