Transcript Christopher Columbus, Entrepreneur? - MSH

LESSON 18 – CHRISTOPHER COLUMBUS, ENTREPRENEUR? QUEEN ISABELLA,
VENTURE CAPITALIST?
In 1492 . . .
• Italian sailor
• Trying to find a faster route to China and
India
• Hard time getting funded
• Spices, gold, precious stones
• 3 ships (Niña, Pinta, Santa Maria)
• Queen Isabella (Spain)
• The voyage took longer than first thought
• People thought the Earth was flat and he
would sail off the edge of the world…
FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY
LESSON 18 – CHRISTOPHER COLUMBUS, ENTREPRENEUR? QUEEN ISABELLA,
VENTURE CAPITALIST?
Map #1
Fra Mauo map (1459)
FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY
LESSON 18 – CHRISTOPHER COLUMBUS, ENTREPRENEUR? QUEEN ISABELLA,
VENTURE CAPITALIST?
Map #2
Genoese map (1457)
FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY
LESSON 18 – CHRISTOPHER COLUMBUS, ENTREPRENEUR? QUEEN ISABELLA,
VENTURE CAPITALIST?
Map #3
Pietro Vesconte's world map (1321)
FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY
LESSON 18 – CHRISTOPHER COLUMBUS, ENTREPRENEUR? QUEEN ISABELLA,
VENTURE CAPITALIST?
King Ferdinand and Queen Isabella,
Venture Capitalists?
Characteristics of
Venture Capitalists
Example from Columbus’ Voyage?
Invest in new
technologies
Sailing west to reach India or China was an untested idea.
Even though most people did not think the Earth was flat,
this journey presented new challenges.
Invest in risky ventures
Many things could go wrong that would prevent Columbus
from returning to Spain: getting lost, starving, shipwreck,
illness and injury, etc. And Columbus—for all his passion—
might have been wrong.
Own a portion of the
company
Even after granting all Columbus’ demands, Spain still
retained seven-eighths of any returns from the first voyage,
and seven-eighths of the returns from
subsequent voyages.
FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY
LESSON 18 – CHRISTOPHER COLUMBUS, ENTREPRENEUR? QUEEN ISABELLA,
VENTURE CAPITALIST?
Columbus as Entrepreneur?
Characteristics of
Entrepreneurs
Example from Columbus’ Voyage?
Start new businesses/ Sailing west to reach India or China was an untested idea. Even though
most people did not think the Earth was flat, this journey presented
enterprises
new challenges, mainly because the distances involved were much
longer than Columbus estimated.
Bear all the risks of
starting the business
All Queen Isabella and Spain risked was investment capital. Columbus
was risking his life. Many things could go wrong that would prevent
Columbus from returning to Spain: getting lost, starving, shipwreck,
injury and illness, etc. If the venture had failed, Columbus and his crew
might be dead.
Invest some of own
resources in the
business
Columbus invested his time and resources. He also asked that he be
allowed to invest an amount equal to one-eighth the cost of additional
journeys in return for one-eighth of the profits.
FOCUS MIDDLE SCHOOL WORLD HISTORY © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY