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What’s a Concept? Concepts may take the form of Ideas, Mockups or Prototypes. Ideas It all begins with an idea. A sentence, paragraph, or even bullet-points kick-start the process. Ideas can be simple and non-technical. It should be easy for anyone and everyone to help shape the future of the Web. So throw your notions, inspirations, dreams and visions out to the community. Mockups Turn your idea (or someone else’s) into an image, sketch or video. Words are great, but you know what they say about pictures. Mockups offer up a visual and communicate ideas in terms that are just a bit more polished and real. They draw the next person in, tempting them to pick up the concept and run with it. Prototypes A prototype is interactive. Feel, touch and play with developing concepts. Prototypes get ideas across by showing off the moving parts. They aren’t always fully functional or pretty, but they’re more than a static image or two. They’re a dress rehearsal of sorts, with minimal programming. Make a prototype in HTML, Flash, or whatever puts things into action.

But what we want to focus on here are VC funded web 2.0 ventures that got to profitability as standalone ventures.

The point here is, what other Web 2.0 companies have been funded by VC and have reached profitability? Surely there must be some more? Did all the 2003/2004 era Series A funded ventures either exit or fail? Or are some on the cusp of profitability, with enough investor cash to get them there? Even with revenue forecasts that may need to be to brought down as a result of a slowing economy?

Despite these developments, however, what matters most for R&D is not quantity, but useful results

Since Korean companies experience similar obstacles, they will need to seriously evaluate Japan’s experience.

large Korean firms had invested a huge amount of money in R&D but had failed to make strategic connections between R&D investment and new business opportunities.