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Judy Estrin is a serial entrepreneur, having started seven tech companies since 1981. She was the former CTO of Cisco Systems from 1998-2000, and is on the boards of Disney and Packet Design and was a board member at Sun and FedEx for many years. She wrote Closing the Innovation Gap: Reigniting the Spark of Creativity in a Global Economy back in 2008. She now runs her own firm, JLabs, speaking and advising businesses on innovation, leadership and entrepreneurship.
With tourists flocking to the Boston to walk the cobblestone streets of the Freedom Trail and visit various historical landmarks, Boston is often thought of for its ties to the American Revolution. But Boston is also the birthplace of a revolution of a different sort.
In 1946, Georges Doriot, a professor at the Harvard Business School, founded the American Research and Development Corporation (ARDC) in Boston - one of the very first venture capital firms.
In 1957, the ARDC invested $70,000 in Digital Equipment Corporation, a company founded by two former Massachusetts Institute of Technology engineers working on transistor-based computing. The ARDC was later able to turn around and sell their investment for $450 million, quite possibly the best return on an investment ever at that point.