Yerevan/Mediamax/. CEO of Flagship Ventures, member of the Board of Trustees of the National Competitiveness Foundation of Armenia Noubar Afeyan believes that companies, which are established given limited resources, are far more stable.

Mediamax reports referring Mskit.ru resource that Noubar Afeyan said this, while delivering an open lecture on February 5 at Moscow “Skolkovo” Management School.

During the lecture “Maximization of profit from entrepreneurship and investments in innovations”, Noubar Afeyan spoke of strategies of venture investment he considers effective.

Noubar Afeyan advises start-up entrepreneurs to “suffer, suffer and suffer”, and “work a lot and pray a lot”. According to him, it is necessary to find what can be considered a competitive advantage; then resources, innovations and the ability to adapt will be required.

Speaking of volumes of investments in research, Noubar Afeyan stated:
 
“Given limited resources, in conditions of which the company is being established, the latter turns out to be far more stable, than ones set up in conditions of availability of all the necessary resources. In the beginning, we invest USD 100-150 thousands, sometimes at the medium stage we invest from USD 500 thousands to USD 1million. And I understand it very well that if we give more money, people will start loosening up. One should make investments in research in small portions”.

Flagship Ventures owns an investment portfolio at the volume of USD 1bln.

In the course of the recent 20 years, Noubar Afeyan participated in formation of over 20 new companies and is the Director of a few companies, established by Flagship Ventures: Helicos Biosciences, Codon Devices, BG Medicine, Genstruct, Affinnova, Ensemble Discovery, LS9 and Joule Biosciences.