Lima, Peru | Saturday 04 July 2009 00:55 | | |

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It was the Interamerican Development Bank annual meeting in Peru in 2004 and my Colombian friend Felipe Vergara, co-editor of this book, sent me an e-mail from Florida telling me that Mrs. Elizabeth O´´Halloran, Director of Intellectual Capital, Batten Institute, University of Virginia was coming to Lima to attend the conference. He encouraged me to meet her because we had a common interest in intangible assets and how to foster a more entrepreneurial culture. After finishing my lecture at 10.00 PM at the University in a warm summer night, I went to the “ Brujas de Cachiche” Restaurant, a native food restaurant in Lima where I met Mrs O´Halloran who was with a group of sharp and smart colleagues from Brazil and India who were also attending the IDB conference. We engaged in a brief but intense conversation about how intangible assets create value in corporations and the need to develop a more investment friendly culture in Latin America. Then, the topic of Angel Investing came up. A few weeks later I received the proposal from Felipe and Elizabeth to write this chapter about Angel Investing in Peru.
There are educated people who will do what it takes to create wealth in the knowledge economy. A country that invests in its human capital grows faster, strengthens its political and economic institutions, competes better in the global market and improves the quality of life in general. The idea of using the capital markets to finance individuals’ education, which previously existed only as an academic exercise, is close to becoming reality.
Within the last 15 days the two awards related to the publicity industry have been celebrated: "Los Effie" and "el Gran APAP." Beyond the obvious differences between those events, I'd prefer to speak of the happy coincidences that convert both awards into important forces to improve the competitive level of the sector.
At the launch of EDC (Export Development Canada), Eric Siegel spoke about the hopeful place Peru occupies in the world business environment, and how Peru can work with other countries in order to ensure a more profitable future:
Fifteen years ago, an English friend of mine defined Peru as “ten seconds a year on the BBC.” Fortunately, this has changed and our country is beginning to play a more significant economic and cultural role on the world scene. Evidence of this can be found in the most prestigious international newspapers and magazines such as Forbes, The Times, and The Economist among others, which write about and analyze Peru as an attractive destination for investment and cultural tourism. What seemed like isolated bright spots, represented by Sofia Mulanovich, Juan Diego Flores, a Peruvian cement plant in the United States and Peruvian gastronomy, have become a systematic phenomenon in diverse areas such as literature, economy, law, technological innovation and cinema.
The Cocodrilo Verde, a popular live music venue and restaurant in the Miraflores neighborhood of Lima, played host to an innovative music event recently. Mostro Digital, a digital music distribution company based in Los Angeles and also in Peru, held a press conference and party to celebrate the company’s first quarterly payments of artist income from the sale of their music via the global giant iTunes. Mostro took advantage of the occasion to sign new deals with artists, and to speak at length to the assembled guests and media about what digital music is, how the international market is changing, and why they are focusing almost exclusively on bringing the music of Latin America to the rest of the world starting with our beloved Peru.
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