The trend for globalization of high-tech industries has gained momentum during the last few years. In particular, the Asia Pacific region has become an increasingly important market for U.S. high tech companies. What investors, both the public market and VCs, look for now are companies with revenue growth and a clear path to profit. The challenge for technology companies and investors is to define the roadmap to weather through the current downturn and build strength to grow when the market returns. The companies that will succeed are the ones that are close to the market, with the ability to produce their products at a reduced cost.

China, with its mass population, is undeniably an enormous market. It not only presents a broad customer base for the high-tech industry, but also an attractive low-cost manufacturing center. There is no doubt that Greater China is a lucrative region to ride the next wave of high-tech industry growth. We all want to capture this golden opportunity. How do we address this huge consumer market? How do we fully utilize the emerging labor support to lower production costs? For venture capitalists, how do we find legitimate ways to get return on our investments?

Taiwan is now China's leading trade partner and investor. Over 25 percent of Taiwan's exports are headed to China, according to the latest official statistics. With its geographic proximity, a well-established technology and business support infrastructure, as well as a common language and similar culture background, Taiwan is well positioned as a gateway to the China. In addition, Taiwan has built a well-recognized capital market in the past three decades. This highly liquid capital market is the best support for the high-tech industry as well as VC players.

In this session, Katherine Jen, a veteran venture capitalist, will lead the audience through her strategy in the quest for the next wave of high-tech industry growth and identify the key success factors.

About the Speaker

Katherine Jen is the managing partner of AsiaTech Management, LLC, a venture capital firm investing in the Silicon Valley and Asia. Katherine's successful venture capital career began in the early eighties. During her two decades in the Ministry of Finance in Taiwan, Katherine ran a $3 billion government investment fund, instrumental in the founding of successful high-tech companies such as TSMC and Moses-Vitelic. She also served on the TSMC board of directors from 1989-1993.

Katherine was one of the pioneers in Taiwan's VC industry. She led many key initiatives in venture capital legislations, including the adoption of the first Venture Capital Act in Taiwan. She helped establish the first group of venture capital funds in Taiwan, including Hotung Ventures, H&Q Asia and Walden International Taiwan (IVCIC). In addition, she founded the venture capital firm Genesis Venture in Taiwan and successfully raised its first fund. As a leader in the Taiwan financial industry, she served on the board of International Commercial Bank of China (ICBC), the largest commercial bank in Taiwan.

Based on the belief that Silicon Valley technologies can find much broader markets if they are combined with the efficient manufacturing industry in Asia, she founded AsiaTech and raised its first fund in 1997. Today, with operations in the Silicon Valley and Taiwan, AsiaTech manages three funds with strong backing from Asian-based manufacturing companies, commercial and investment banks, and government.

Educational achievement in Malaysia is racially skewed across its three main cultural groups: The Malay-Muslim majority lags behind the country's Chinese and Indian minorities. This poses a dilemma. Should the state give the majority preferential access to education in the name of group equality? Or permit such access to be decided by merit alone, in the name of fairness among individuals? Malaysia has chosen to expand opportunities for schooling while maintaining a strict policy of affirmative action for Malays, all within a centrally controlled and standardized system of national education that relies on the Malay language and includes emphasis religion and morality. After showing how this pattern evolved from the secular, English-language format adopted by the British when they ruled Malaysia, Dr. Bakri Musa will assess the costs and benefits of affirmative educational action in the country today. Bakri Musa has written extensively on Malaysia. His latest book, An Education System Worthy of Malaysia (2003), has been described as "a severe critique" and "a comprehensive proposal for reform." Earlier titles include Malaysia in the Era of Globalization (2002), and The Malay Dilemma Revisited (1999). Shorter commentaries have appeared in Asiaweek, Education Quarterly, The Far Eastern Economic Review, and The International Herald Tribune, among other print media, and been aired by National Public Radio on its program, "Marketplace." A surgeon in private practice in Silicon Valley, Dr. Musa earned his medical and graduate degrees at the University of Alberta in Canada.

Asked his reaction to the Iraq war, the accused Bali bomber Amrozi said: "It just goes to show I was not wrong to bomb." The October 2002 bombings of two nightclubs on Bali were the worst act of terrorism since 9/11. 202 people died; 350 were seriously injured. Preliminary analysis of what the suspected perpetrators have said about the case suggests that they were motivated mainly by deep hatred of the United States. This lecture will explore the ideology and psychology of the accused bombers and, more broadly, the likely impact of the war in Iraq on terrorism in Southeast Asia. Greg Fealy is a leading specialist on Islam and the history and politics of Indonesia. His publications include two co-edited books, Nahdlatul Ulama, Traditionalism and Modernity in Indonesia and Local Power and Politics in Indonesia: Decentralisation and Democratisation. He has worked as an Indonesia analyst for the Office of National Assessments in Canberra and as a consultant for the Asia Foundation and the U.S. Agency for International Development in Jakarta. The history of Indonesia's largest Muslim party was the subject of his dissertation (PhD, Monash University, Australia, 1998).

Philippine President Gloria Macapagal-Arroyo recently pointed to gold mining on the island of Mindanao as a possible solution to her country's chronic financial problems. Philippines gold reserves are among the world's largest, and gold prices are near a six-year high. But the metal is no panacea; damage to the environment and battles over land rights are among the risks and impediments. The president is not the first in her country to have focused on gold. In pre-Hispanic times the metal was both a medium of exchange and a sign of status. Ferdinand Marcos' rise to power is still widely, if credulously, attributed to his discovery of a famous hoard of gold. This lecture will show how scholarly attention to precious metals, including silver, can yield a perspective on Philippine history that challenges conventional narratives. By foregrounding precious metals, the archipelago's past can be relocated--away from the peripheral position it occupies in most world histories and toward a strikingly central role in global events and trends. About the Speaker: Martin W. Lewis came to Stanford in Fall 2002 from Duke University, where he co-directed the Program in Comparative Area Studies. His first book examined the interactions of economic development, environmental degradation, and cultural change on the Philippine island of Luzon. His other publications include The Myth of Continents (1997), coauthored with Karen Wigen. He received his PhD in geography from the University of California, Berkeley in 1987.

Japan and America's two most senior statesmen examine the Iraq and North Korea crises. How these two challenges are resolved will have profound implications for the U.S.-Japan relationship and its ability to deal with future regional and global challenges. This is the inaugural program in the Yomiuri-Japan Society Distinguished Speaker Series.

Lunch will be served to those who respond to Okky Choi by Wednesday, May 7 by 12:00 noon. You can reach Okky at 650-724-8271 or via email at okkychoi@stanford.edu.

Lunch will be served to those who respond to Okky Choi by Wednesday, April 9 by 12:00 noon. You can reach Okky at 650-724-8271 or via email at okkychoi@stanford.edu.

Seeking to tap the huge potential of Greater China, many in Asia seek to replicate the Silicon Valley model. Yet, as much art as it is science, successful VC investing has proven to be uneven in Asia. Why? With respect to innovation, why is it that Asians have good reputations for replicating but not creating cutting edge technology? Is there a disconnect when this is compared to the experiences of U.S. high-tech icons, such as Intel and Apple, filled with Asian-born -- and in many cases educated -- scientists and businessmen? How does the Silicon Valley experience track with Singapore's determined efforts to promote creativity? What lessons, if any, are applicable to Greater China? With respect to entrepreneurship in Greater China, it is clear that Hong Kong, Taiwan and the Mainland are full of hard-driving individuals seeking to build wealth and prosperity. However, in some ways, is there perhaps an overabundance of entrepreneurship? Are there too many in this part of the world who want to be in charge and too few to follow and implement? How can a more productive form of entrepreneurship be fostered?

About the speaker
Dr. Ta-lin Hsu is chairman and founder of H&Q Asia Pacific (H&QAP), a premier private equity firm investing in Asia and the U.S. since 1985. Through ten offices in the region, H&QAP invests in a variety of high-growth sectors, including technology, biotech, financial services, media and branded consumer products. H&QAP manages sixteen funds with approximately $1.6 billion in assets invested in over 250 portfolio companies. Three of these funds comprise $1.1 billion in assets and invest on a diversified basis across the Asia Pacific region while the remaining thirteen funds are country funds.

Dr. Hsu holds numerous advisory positions with governmental and industry organizations. He was a founding member of the prestigious Technology Review Board of Taiwan, a group established to advise the Executive Yuan on all technology matters. Dr. Hsu was also a founder of the Monte Jade Science & Technology organization, the premier nonprofit organization promoting technology exchange between Taiwan and the U.S. He was also a founder and first president of the Bay Area Chapter of the Chinese Institute of Engineers, the largest Chinese-American engineering society in the U.S.

Dr. Hsu received his Ph.D. degree in electrical engineering from the University of California, Berkeley following a M.S. in electrophysics from the Polytechnic Institute of Brooklyn and a B.S. in physics from National Taiwan University. He was a staff scientist at Allied Chemical for two years before joining IBM Research Laboratories in 1973. Dr. Hsu worked at IBM for twelve years, reaching the position of senior manager in the research division -- with corporate responsibility for advanced research and development of mass storage systems and technology -- before joining Hambrecht & Quist as a general partner in 1985.

Dr. Hsu is an Advisory Board Member of the the University of California, Berkeley, Haas School of Business, a member of the Council on Foreign Relations, and a member of the Board of Trustees of the Asia Foundation.