iFEST Offerings

As an international rallying point, iFEST uses a creative approach to take transnational entrepreneurship and innovation to the next level. iFEST programs will be accomplished in cooperation with existing stakeholders and supporters in the policy, educational, and research communities of the US and other countries, beginning with key nations in Asia. Over time, these programs will become strong well-known mechanisms of cooperation for the public, business leaders, policymakers, researchers, and educators in both Asia and the US who are interested in entrepreneurship, innovation, investment, sustainable economic growth, and cooperative problem solving.

iFEST Objectives and Activities

iFEST will catalyze a more robust transnational science and technology venture development community between the US, Asia, and other regions through a number of programs that include:

• Promoting joint Asian and US management training and entrepreneurial talent development in advanced technology sectors through international iFEST Seminars, and transnational iFEST Fellowship Programs in a real world overseas commercial setting; and

• Cultivating the next generation of young technology entrepreneurs via International InnovationCamps that bring students and mentors together from the US and other countries for cooperative technical learning in the laboratory with a focus on IT, energy, robotics, bio- and nanotechnology topics,integrated with entrepreneurial coursework and real world project development;

• Organizing a multilateral community of Angel investors, mentors, and students through an International Angel and Mentor Network (iAMNet), to learn from each other and co-invest in student projects from the Innovation Camps, Seminars, and other iFEST programs;

• Increasing international dialogue through high level policymaker exchanges, via the Legislators’ Innovation Policy Exchange Program (LIPEP) for members of the US Congress and staff to meet with their Asian policymaking peers in overseas study retreats and jointly explore the policy prerequisites for entrepreneurship and innovation; and

• Assessing new needs and priorities through surveys, and analytical research relevant to public policy- and corporate decision-making.

Through these and other programs, iFEST offers its supporters and partners an opportunity to help shape the international future of innovation in a way that can uniquely enhance their branding and market position. In addition to donations from corporations, foundations, governments, and individuals, iFEST will develop innovative funding strategies. For example, entrepreneurs who have participated in iFEST programs will be organized in alumni groups and encouraged to make equity or other donations to iFEST from their successful ventures. Donations of equity can be tax deductible at full market value even though the donations may consist of stock options or other instruments that are exercised at low or no cost. Opportunities are also being explored for the sales of new products and services that have been enhanced or created through iFEST programs, to contribute a percentage of the profit stream back to iFEST.

Demonstrating a broader focus than just the bottom line, iFEST - - along with its supporters and stakeholders - - will play a unique role in cultivating the hearts and minds of the rising generation of young people in the US and Asia, thus helping to elevate and realize their professional ambitions and individual dreams.

Through specific program areas, iFEST will serve as the global rallying point, to build innovation and entrepreneurship into a prestigious “brand” that will help improve the prospects for shared prosperity and peace around the world. In the long run, iFEST also seeks to work in an integrated manner with partners in Asian-American science and engineering communities, with a focus on supporting the innovative capacity of our young people.

Building on existing efforts wherever possible, transnational interest will be leveraged and focused through substantive activities that put key US and foreign institutions, leaders, and citizens together. We at iFEST believe that much more can be done to stimulate a more robust transnational science and technology venture development community.