Greg Wasson on Creating Billion Dollar Startups
The Nature of Start Ups
Start up companies are becoming more and more popular as success stories of organizations seem more prevalent. Start up organizations such as Snapchat, Uber, and Facebook have great stories and unparalleled success. These companies introduce and implement new technologies which advance society and help other companies.
Start up organizations are a great example of technology and entrepreneurship intertwining. The unfortunate part is resources are scarce for many of these start up companies who have amazing ideas and new technologies and sometimes fail as a result.
Greg Wasson, the former CEO of Walgreens, believes he has a solution to help start up companies reach the next level. He believes that massive established companies should do their part in lending some of their unused intellectual property to help these start up companies with potential for commercialized technology. It is a win win for both parties.
The Initiative of Greg Wasson
The venture capital firm that Greg Wasson established is able to partner with other large corporate giants who have the resources and intellectual property to help aid these start ups who have the potential of becoming billion dollar organizations.
Mr. Wasson believes the potential for these start ups is there and predicts there will be more in the future as technological advancements are made and new services will be required of companies. Advancing technology allows for more start ups to enter the arena.
The abundance of new technologies is a wonderful thing. Mr. Wasson believes what he is doing is benefitting both the large corporate organization as well as the start up company be organizing the intellectual property of the corporate behemoth and aiding the start up in utilizing the resources made available to them. Large corporate giants have extensive research and develop technologies which are often wasted or not utilized to their best potential.
This model that Mr. Wasson has established through his company is a way for large companies to commercialize their research and development resources. This is a huge benefit for them.