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www.dreamin.in

THE WISH PROJECTSat 22 Jan, 2011. Times of India

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Dream MerchantsSat 9 Jan, 2011. Sunday Business Standard - Mumbai


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Dreamers throng city to make world a better placeWed 16 Feb, 2011. Deccan Chronicle - Bangalore


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Dream Index to evalute progressThu 17 Feb, 2011. Deccan Chronicle - Bangalore


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For our DreamsFeb, 2011. Design Today


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Dream But Also WorkET


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Riding the dream trainTue 22 Feb, 2011. Bangalore Mirror


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Dreaming BigTue 22 Feb, 2011. The New Indian Express - Expresso


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Making dreams come trueWed 16 Feb, 2011. The Hindu


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Riding the dream trainTue 22 Feb, 2011. Bangalore Mirror


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Designs on scaling upApr, 2011. Entrepreneur


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Design: Core of BusinessFri 17 Jun, 2011. Economic Times


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ChitralekhaAug, 2011. Chitralekha


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ChitralekhaAug, 2011. Chitralekha


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Creative Business Take Centre StageEconomic Times


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Meet the New Dream MerchantsThu 3 Dec, 201.Economic Times


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China, India, Mexico, and Brazil Embrace Design ThinkingThu 3 Dec, 201. Fast Co.


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Co.Designbusiness + innovation + design

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10 17TWO THOUSAND

AND ELEVEN

INFOGRAPHIC OF THE DAY

EDITOR'S PICKS

Infographic of the Day: IngeniousInfographic: U.S. Highways, MappedLike A Subway System

One More Great LessonFrom Steve Jobs:Innovation Begins As ASocial MovementWHY IS THE LOSS OF ONE CEO THE CAUSE FORUNIVERSAL MOURNING? BECAUSE HE SYMBOLIZEDTHE KIND OF ENTREPRENEURIAL CAPITALISM THATGENERATES THE FUN THAT COMES WITH CREATINGTHE NEW.

Hardly anything unites Americans anymore--except for the death of Steve

Jobs. His passing and the deep mourning for him across political,

generational, and cultural divides remind us that we all can agree on one

thing--that it is Jobss kind of capitalism, entrepreneurial capitalism, that

we love, because it generates the incredible fun that comes with creating

the new. His death reminds us that the big, disruptive innovations almost

always come from entrepreneurs who embody their following and enable

the dreams and talents that they have inside and havent yet expressed. It

reminds us that all net new job growth in the U.S. comes from startups

and businesses five years old or younger that begin in garages, college

dorm rooms, or Starbucks cafs.

Above all, Jobss passing reminds us that entrepreneurial capitalism is not

simply some rational economic market phenomenon but a social

movement that binds groups of people together in communities of like

interests and deep emotions. Think of the important innovations of our day

that are changing our lives--Facebook, Twitter, Zipcar, YouTube, eBay,

Amazon, iTunes/iPod/iPhone/iPad--and you find new social communities

interacting on new platforms. Add them all up and you see entrepreneurial

capitalism itself as a social movement that we join, participate in, and help

create ourselves.

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One More Great Lesson From Steve JobsFast Co.


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www.dreamin.in

EXPERT PERSPECTIVES

4 Elements That Make A Good User

Experience Into Something Great

Foursquare Solves A Basic UIProblem That Eludes Google MapsAnd Yelp

Jeffrey Phillips Discusses: Looking ToHire And Keep Great Innovators?Focus On The 3 Rs

Craig LaRosa Discusses: OurEconomy Is Mostly Services. But HowDo You Design Great ServiceExperiences?

Roderick McMullen Discusses:Usability Is King For Your Product.Heres How We Can Finally MeasureIt

WE MUSTREFRAMECAPITALISM

AS THESPACEFORCREATORS,NOTTRADERS,FORRISK-TAKERS,NOT RISKMANAGERS.

Contrast that to the crony capitalism that Occupy Wall

Street is protesting against. This kind of capitalism has

Wall Street no longer allocating capital to businesses so

they can grow--which is its central economic and social

function. With crony capitalism, banks and hedge funds

trade for their own account--often with government-

guaranteed savings and with government safety nets if

they fail. With crony capitalism, big businesses, with a

handful of exceptions, stop innovating and no longer

generate jobs, income, or taxes for America. What

crony capitalists have come to excel at is to game the

political, regulatory, and tax system to favor their

special interests. This anger against crony capitalism

crosses the political spectrum.

Both Michele Bachmann and Sarah Palin, on the right, and Occupy Wall

Street protesters, on the left, specifically decry crony capitalism andcelebrate entrepreneurial capitalism. Nearly all of my socially liberal

design students at Parsons support Occupy Wall Street and, at the same

time, want to launch their own startup businesses. And that is where the

role of design in capitalism is becoming ever more important. The new

surge in startup culture among the young, the turn of design toward new

business, not just big business and the overall collision of creativity with

capitalism now under way, is the best way for us to rebuild our country.

This will require reframing capitalism as the space for creators, not

traders, for risk-takers, not risk managers, for community-builders, not

destroyers.

Steve Jobs, like all entrepreneurs, had an entirely different set of

competencies from CEOs and managers of big corporations. His ability to

be attuned to his following, his framing of the problem (its peoples

experience with the product, not the functionality and technology, thats

key); his obsession with the look, feel, and materiality; and the charisma

of his leadership generated an aura around Apple products. That aura

extended to Jobs himself, which is why we feel so emotional for the

[Image by Charis Tsevis]



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www.dreamin.in

Co.Design. If youve been a reader for some

time, youll notice that weve just unveiled a

brand-new redesign. YOU CAN READ ABOUT THE

THOUGHT PROCESS BEHIND IT HERE . Our

content, of course, will be the same: Our focus

is on highlighting the worlds best examples of

design and innovation, working in concert. We

started this site with a few simple premises in

mind. First, design is a window onto the world

at large, and the culture we live in.

CONTINUED

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CONTRIBUTORS

M T W T F

ARCHIVE

ADVERTISE PRIVACY TERMS REPRINTS

Copyright 2012 Mansueto Ventures, LLC.

7 World Trade Center, New York, NY 10007-2195

WE ARELIVINGTHROUGHA STATEOFUNCERTAINTY.INNOVATIONANDENTREPRENEURSHIPARE OURCALLING.

S

holding the iPad as a religious tablet on the February 2, 2010 cover ofThe

Economist(The Book of Jobs), are often described in transcendental

terminology. They have an aura that directly connects them to their

followings whom they embody. These visionaries, prophets, wizards,

oracles (the Oracle of Omaha) have a secular priest and laity

relationship with their following. The priest promises the laity a coherent

vision of the world, a way to release inherent hopes and talents while

curbing existential angst, and a community to which to belong. The laity

offers fealty in return. Prophets, religious and secular, tend to arise in

moments of social and economic breakdown, which helps explain why

there is a surge toward entrepreneurialism today.

In The Protestant Ethic and the Spirit of Capitalism, Max Weber says that

Calvin believed that people lived in a radical state of uncertainty about

going to heaven. So they had to work extra hard to get there. Work

becomes a calling. Today, we are living through yet another state of

uncertainty. Innovation and entrepreneurship are our calling.

It is not an accident that so many of our startup founder s

(Tumblr, Twitter, YouTube, Airbn, Slideshare) have design

backgrounds and share so many of the competencies we

associate with Jobs. The fact that design is being

recognized in the startup space is a major victory for the

field. But the real power of design may well lie in its

reform of the venture capital process, which has

traditionally been defined in terms of technology and

functionality. Bringing design into the VC process early to

define opportunities (identifying those who embody new

groups and new cultures) and keeping it through the

business development phase, has the potential to

increase the dismal 10% success rate dramatically. Indias

innovation and design consultancy Idiom has an 80%

success rate in designing out new companies. The

movement of design toward big business led to a

focus on process and a promise of rationality and

routinization of inspiration into products. In the end,

we didnt get much real innovation or the economic

value that comes with it. The recent turn of design

toward new business is leading to a focus on capitalism as social

movement, and a promise of charisma and embodiment generating

spectacular experiences that enable and delight. Thats why Steve Jobs

and his entrepreneurial capitalism are so important--and why we mourn

for him.

BRUCE NUSSBAUMBruce Nussbaum blogs, tweets and writes on innovation, design

thinking and creativity. The former assistant managing editor for

Business Week is a Professor ... CONTINUEDTwitter

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Co.Designbusiness + innovation + design

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10 03TWO THOUSAND

AND ELEVEN

INFOGRAPHIC OF THE DAY

Designers Are The NewDrivers Of American

EntrepreneurialismDESIGNERS ARE MERGING THEIR WAYS OF THINKINGWITH STARTUP CULTURE. THE RESULT, WRITESBRUCE NUSSBAUM, IS GREATER INNOVATION ANDASTOUNDING VC SUCCESS RATES.

I recently walked into a packed hall of 200 Parsons students for an event

called Start Something--Why Creatives Need to Become Entrepreneurs,

organized by the NYCreative Interns group. Four women entrepreneurs,

including Laurel Touby, the founder of Mediabistro, were up front, talking

about their experiences of launching their respective businesses. Theincredible energy in the room highlighted an emerging trend--the headlong

crash of creativity into capitalism to forge a startup model for the future. In

this new model, designers drive the force of American entrepreneurialism.

This business model is a cause for true optimism. Its not the big business

capitalism that no longer generates jobs or income or tax revenues. Nor is

it the old, slow attempts by design and design thinking to reform big

corporations to make their culture more innovative, with limited success.

Rather, its the capitalism of Max Webers The Protestant Ethic--the

original, early form of entrepreneurial capitalism. Its the promise of design

fusing with startup culture to increase innovation by raising the success

rate of venture capital from 10% to as high as 80%. This growing desire

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www.dreamin.in

EDITOR'S PICKS

EXPERT PERSPECTIVES

Infographic of the Day: IngeniousInfographic: U.S. Highways, MappedLike A Subway System

12 Hand-Written Love Letters FromFamous People, From Henry VIII ToMichael Jordan

4 Elements That Make A Good UserExperience Into Something Great

Foursquare Solves A Basic UIProblem That Eludes Google MapsAnd Yelp

Jeffrey Phillips Discusses: Looking ToHire And Keep Great Innovators?Focus On The 3 Rs

Crai LaRosa Discusses: Our

THEEMERGINGTRENDREPRESENTSAHEADLONGCRASH OFCREATIVITYINTOCAPITALISM.

tech/engineering-centric world of startups promises to be transformative

and explosive.

The pattern can be broken down into a series of dots. Theres the dot of

students at Parsons, RISD, RCA, the Stockholm School of

Entrepreneurship, and Aalto University, in Helsinki, beginning to embrace

the world of startups. (Stanford has been there for a while, thanks to

David Kelley.)

Theres a dot of small design/innovationconsultancies, such as Ammunition, Fuse, and Smart

Design, which are developing and selling more of their

own products, independently and through corporate

partnerships. (Yves Bhar has been an entrepreneur

for a decade; his latest product, a great new urban

bike called Local, is now in production.) In addition,

we have IDEO now supporting incubators such as

General Assembly, Excelerate, and TechStars, and

helping to launch products such as the Yoomi

self-warming baby bottle.

Perhaps the most important dot of all is the one of innovative startupsstarted by entrepreneurs with design degrees or backgrounds--YouTube,

Flickr, Slideshare, Tumblr, Airbnb, Slideshare, Vimeo, and Feedburner,

and YCombinator. These successful examples have inspired countless

design students who want to start their own companies. They see that it

can be done.

Another dot is Idiom, Indias answer to IDEO. The cutting-edge

design/innovation consultancy has successfully launched 80 companies,

out of 100 attempts, over the past six years, with the average launch

taking about nine months from concept to profitability. (Idiom calls its

process Mind to Market.) By applying the approaches and tools of design

to the traditional startup process, Idiom increased the success rate of VC

from 10% to 80%.

Led by its cofounder Sonia Manchanda, whom I consider to be the

intellectual heir to the great C.K. Prahalad, Idiom is pioneering an entirely

new VC model called Dream:In. I was lucky enough to participate in it last

year. It goes like this: Hundreds of students were trained to interview and

tape thousands of people about their dreams--their aspirations, not their

needs. The dreams were collected, categorized, and presented to

business people, consultants, and folks like me to help draw up business

plans to enable those dreams. Those plans are now in a portfolio, from

which venture capitalists can choose by category, by individual concept, or

by investing in the fund itself. Each year, students go out, dreams come

in, business plans replenish the portfolio. When was the last time we even

thought about a radical change in the VC model? This made-in-India idea

does.

What does this new direction of design toward entrepreneurship and away

from big business mean? For me, two things. The less important is

epistemological. The Parsons event by NYCreative Interns says it

all--Why Creatives Need to Become Entrepreneurs. Creativity is a more

inclusive term than design. Creativity is more easily accepted by venture

capitalists, engineers, business people (and maybe even design students)

than design. In addition, as design goes social, it moves toward industriessuch as advertising, with a long tradition of having creatives as part of its



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FROM THE EDITOR

Thanks for stopping by Fast Companys

Co.Design. If youve been a reader for some

time, youll notice that weve just unveiled a

brand-new redesign. YOU CAN READ ABOUT THE

THOUGHT PROCESS BEHIND IT HERE . Our

content, of course, will be the same: Our focus

is on highlighting the worlds best examples of

design and innovation, working in concert. We

started this site with a few simple premises in

mind. First, design is a window onto the world

at large, and the culture we live in.

CONTINUED

ADVERTISEMENT

CONTRIBUTORS

Experiences?

Roderick McMullen Discusses:Usability Is King For Your Product.Heres How We Can Finally MeasureIt

M T W T F

ARCHIVE

S

creativity. But if anyone is uncomfortable with the term, just use the

D-word.

The more important change from big business to new business is

conceptual. We need new conceptual categories to deal with the new turn

toward entrepreneurship. Zuckerberg, Hurley, Fake, Chase, Stone,

Jobs--why and how and where they innovate require entirely different

categories of design thinking, if you will, than weve used before. We need

to learn much more about leadership and the roles of charisma and

calling, and the transformation of inspiration into execution. Entrepreneurs

are a lot like religious prophets--they embody their following, they know

their tacit dreams and longings, and they express them. Its no accident

that The Economistput Jobs on its cover with a halo around his head

while he held the newly launched iPad as a tablet.

Another critical concept is framing. One key to entrepreneurs success is

that they frame things differently, they connect existing dots in unique

ways. The two guys who started Method, for example, frame-changed the

market for sustainable cleaning products from a suffering-is-good-for-you

space to a cool-design-thats-good-for-the-planet space.

We also need to know a lot more about meaning, not just the data

gathered by ethnography but knowledge that takes us much deeper into

understanding culture. We need to know more about shared spectacle

and why we crave it, and how honing craft and skill to near perfection can

enable you to make and do the unique--which is what entrepreneurs do.

The encouraging news is that we are seeing a dynamic expansion of the

scale, range, and power of traditional design. It promises to revive a

broken VC model, capture the imagination and energy of a new

generation of young designer/creators, and perhaps even regenerate

Western capitalism (yes, no small thing). But perhaps most important of

all, the creative turn to the entrepreneurial is hopeful. Optimism has

always been at the heart of design. This takes it to a new level.

To read more about creative capitalism, go here.

[Image by Adam Foster]

BRUCE NUSSBAUMBruce Nussbaum blogs, tweets and writes on innovation, design

thinking and creativity. The former assistant managing editor for

Business Week is a Professor ... CONTINUEDTwitter

LOGINLEAVE A NOTE

Type your comment here.

Say It

NOTES

'ILL . O11/29/2011 12:26 PM


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