Wow. Venture Capital at the very early stages of enterprise development. Can we duplicate their success in a similar venture in the Philippines?
From Anthill Magazine
Meet the company that wants to pay you to be an entrepreneur, yes you read that right!
Posted By Jen Storey On 26 March, 2012
So there’s a company that wants to know about your ideas, wants to work with you to create them but, get this, they will pay you a salary.
Not only will Pearing provide back office support, a technical team and mentorship, but the organisation will pay the entrepreneur a salary. What the salary is will vary depending on how long the idea takes to come to fruition, or otherwise. Plus, as the idea creator, you will be entitled to keep the majority of the equity in the company.
So if you’re that person, sitting there with the ‘big idea’ but can’t risk leaving your day job to pursue it, this might be the opportunity you’re looking for.
More than just an incubator
Terman, a professor at Stanford, had the unique approach of not only pursuing of technology advancements but encouraging his students to commercialise their ideas. Two students he actively encouraged to do this were William Hewlett and David Packard. Terman not only nurtured and encouraged true innovation and entrepreneurism but he also invested in many of the companies that resulted, including Hewlett & Packhard.
It is this cultivating of genius minds and a commercial approach that has become entrenched in Silicon Valley. This is community that Pearing seeks to create.
How does it work?
Pearing can take up to four entrepreneurial types with their idea at any one time. They will be supported and paid while their idea is developed in-house.
As you’d expect the idea must go through the Pearing selection criteria for commercial viability. Once in-house, there are 3 potential outcomes for an idea:
- It thrives and grows into a commercial success.
- It merges with another idea with the Pearing world
- It fails
What happens if an idea fails? “It’s not like on Survivor,” explains Alex Petridis, CEO of Pearing. “Depending on the individual there may be other ideas for them to pursue, or they may be able to contribute to the other ideas in-house.”
But wait, there’s more
As an in-house thought leader, you may be asked to apply your thinking to problems that aren’t to do with your idea.
“From time to time, external problems will be brought to Pearing to have our ‘minds’ look at them, to come up with solutions,” explains Petridis.
So not only will in-house entrepreneurs be working on their own ideas, they will get further mental stimulation by helping solve the wicked problems  of others. It’s all about nurturing the entrepreneurial brain.
- Ideas must be based around mobile technology innovation
- Entrepreneurs, scientists, engineers and strategists are encouraged to apply
- The office is based out of Macquarie Park, North Ryde
- Pearing is backed by private equity funding
So, if you’re a broke company founder, this may be your dream opportunity.