This paper examines the probability of domestic and international venture capital playinga critical role in the rapid development of IT and Communications technologies inemerging nations. First we examine the venture capital point of view highlighting whattoday's venture capitalists require from an emerging market investment with a focus onthe role that intellectual property invention plays. Then we examine the role of Internetand communications technologies and comment on innovation in this context. This willenable us to more fully evaluate the conditions of specific nations in encouraging thedevelopment of entrepreneurship and technical and business innovations. Finally, weexplore in more depth review the role that ethnic diaspora play in encouragingentrepreneurship in developing nations, as well as within the global heart of Internetinnovation and entrepreneurship itself, Silicon Valley.
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