Presented by Mario Morino at the 1997 Chairman's Dinner
November 25, 1997
The Accomplishments of Our Collective Efforts
Much of what has happened in this region is the result of building
critical mass and tapping the reservoir of rich intellectual
resources that the region has long possessed. But, some of what
has happened is the result of the efforts of the Potomac
KnowledgeWay Project and our investors and supporters – including
many of you here this evening.
On September 28, 1994, I delivered a speech to the Northern
Virginia Roundtable describing a new economic engine for the
region that would focus on the emerging "networked-based
information products and services" industry. Many in the room
were enthused by the presentation, but few really understood the
significance of the opportunity that was being described.
Fortunately, a core of progressive executives, including many of
you here tonight, grasped the vision and believed in it – and
today, contribute as Board members, investors and/or partners.
Were we clairvoyant? Not at all! We simply redirected the
thinking and focus of the region to where the action was going.
We did what leaders are supposed to do. We spotted a trend and
moved out in front of it. There was little risk that the vision
presented would fail to materialize to some degree – the Greater
Washington Region's concentrations in Internet, telecom, and
content made it a certainty. But what was unpredictable was
"when, how or who" would make this happen.
How remarkable is this convergence? Imagine the incredulous looks
we would have received in September, 1994, if we had suggested
that within three years:
- Little UUNet would evolve to become part of a
telecommunications & Internet juggernaut that would acquire MCI
in the largest transaction in corporate history
- that America Online would amass a base of over 10,000,000
subscribers and be the dominant brand in online services,
eclipsing the likes of Microsoft, AT&T, the Bell Companies and
others who had sizable leads
- that the Internet would not only continue its meteoric growth
but would realize an annual compound growth rate of 1,000 %
But all that has happened and it is safe to say the vision
conveyed three years ago is on its way to being realized. What is
even more exciting is to imagine what the next three to five years
will bring – with companies like Ciena, Teligent, Manugistics,
Nextel, Baan, Network Solutions, Discovery and scores more, the
names of which we don't even know today.
So when one asks "what has the Potomac KnowledgeWay Project
accomplished and how has it contributed to this incredible
opportunity that sits in the lap of our region's leaders," I would
answer by describing what we hear others say about our efforts:
- Self-Realization -- More than any other group, we helped this
region understand its potential in the Digital Age. In speaking
with the producer of NBC Nightly News this past weekend, she
specifically said that it was the context and insights that we
provided that enabled NBC to frame the story as effectively as
they did and to provide an underpinning for the story that allowed
them to substantiate the region's future as the next coming of
Silicon Valley.
- Regionalism – We have become a catalyst and THE neutral broker
to help coalesce and bring together resources, institutions, and
personalities from throughout the Greater Washington Region. Some
of the outcomes are the direct result of our efforts, such as the
creation last spring of the Regional Work Force Coalition and the
upcoming symposium series that will see the University of
Maryland, George Mason University and John Hopkins University come
together to educate CEO's in the region on high-technology trends.
The indirect results of our efforts and influence is that there is
far greater receptivity to working together cross region and cross
industry than there was when we started.
-
Social Fabric – We have been an agent of change to cultivate and
nurture an emerging social fabric in the region that is increasing
the flow of information cross sectors, changing the flow of
partnerships and funding, and increasing the connectedness of
players from different sectors. We also have been working to
advance the Washington Technology Initiative for the betterment
of schools and youth in the District, contributing to making the
Capital Region Technology Investors Conference first effort a
success, or helping the Mid-Atlantic Venture Fair make its first
program in the region a record breaking performance. Throughout
these diverse initiatives, the Potomac KnowledgeWay is the one
common thread.
- Entrepreneurial Force – The Potomac KnowledgeWay has hit a
home run with its first strategic initiative, the Netpreneur
Program, as it has cultivated a rapidly evolving entrepreneurial
community conducive to business start-ups. The Greater Washington
Region is seeing a younger, faster breed of businesses and
executives evolve. Ideas, people and deals are flowing more
freely, faster, and more openly, making the region much more
friendly to start-ups and venture activity. The Netpreneur
Program has been center stage in making this happen.
The Program, introduced as a pilot in January and formally
launched on April 23 of this year (7 months and two days ago), has
already reached thousands of people, created a score of
partnerships, and directly touched over a thousand "netpreneur"
businesses. The Program's newsletter is broadcast to over 2,500
subscribers and re-circulated to an estimated 40,000 others. Our
monthly networking sessions are having great impact – we've now
run 10 such sessions and have had over 1,500 individuals – over
60% of which are card-carrying netpreneurs – attend and
participate. We have a Web site, the Netpreneur Exchange, that
continues to grow in its use and receive "top grades" from folks
as far away as Australia, Italy, Japan, and the UK. We have run
two magnet events, "An Evening with the Barons" and the "Stars of
Telecom" that have opened many peoples eyes and minds to the true
potential and vibrancy of this region. Most importantly, we are
beginning to see tangible results from our efforts – partnerships,
funding, relationships. The most tangible result of all is the
growing number of entrepreneurial successes taking place in our
own back yard, several of which are with us this evening.
- Visibility and Recognition – The Potomac KnowledgeWay has been
generating the best possible kind of media coverage – not ads and
stories promoting ourselves – but rather independent coverage that
is reporting the excitement and innovation taking place in Greater
Washington. We've now enjoyed such coverage in Fast Company,
Wired, NY Times Online, Business Week Online, E-Business online,
TECHCapital, and The Washington Post – all of which have focused
on the innovation and entrepreneurial activity occurring in
Greater Washington. And to leave you with the best news of all –
it appears that NBC will the air that national feature they ran on
the region on CNBC in the near future and run the feature as part
of the NBC News they provide to United Airlines (for an entire
month) – collectively they estimate the feature will reach a total
of 128,000,000 viewers.
As a Board member, investor, partner, sponsor, or management of
the Potomac KnowledgeWay Project, you should step back, assess
what has happened, and savor this very positive impact and the
systemic change that our collective actions are affecting in the
region.
next....
What the Future Holds for the Region and the Potomac KnowledgeWay
Download the entire speech in PDF format.
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