Entrepreneur Manifesto –

We believe:

1. That Leaders are those people who create trust in society and their businesses, and that trust is
efficient. Success is forged through competition and human greatness is possible precisely
because people are not the same and they have the option to choose whether they want to lead
or follow.

2. That the Entrepreneur creates intellectual and financial wealth through which the entire society
benefits and progresses, and so Entrepreneurs and their teams should be richly rewarded for
taking the risks that they do (and which the rest of society chooses not to but from which it still
benefits).

3. That the bigger the State grows, the weaker the people become – big government creates
dependency.

4. Successful entrepreneurs of hyper growth companies are a subset of entrepreneurs who are a
subsector of a strong citizenry who take full accountability for their lives and understand not
only their rights but their total responsibilities.

5. That no real, sustainable wealth creation through entrepreneurship ever owed its success to
government.

6. That successful entrepreneurs cite common factors that shape their unique drive, self-belief and
desire to create and contribute at every stage in life – education, travel, opportunities to test
what they can do as individuals, learning how to sell early in life, strong teachers, business role
models, parents and mentors who honestly encouraged them to be everything they could be.

7. That it is still counter-cultural to be an entrepreneur in the UK and Europe but it is no longer a
niche activity or aspiration; the emergence of serial entrepreneurs and the impact of their wealth
and experience is felt in their backing of the next generation of entrepreneurs.

8. That early stage venture capital now has two distinct areas – early early stage venture capital, and
late early stage venture capital. The only people who do and can do the former exquisitely well
are entrepreneurs backing other entrepreneurs.

9. That world leading firms can just as easily come out of the UK and Europe as well as anywhere
else in the world. Historically, UK and European entrepreneurs haven’t played on the global
stage; not because they are inferior, but because they come from a culture that encourages them
not to expect success. This is changing and must change further still.

10. That the financing of entrepreneurship has not kept pace with the high quality and achievements
of entrepreneurs in the UK and Europe.

11. That the triple play of the internet, entrepreneurship, and individual capitalism is an unstoppable
force around the world, and that Individual Capitalism is the force that will shape the 21st
Century.

12. That Talent flocks to great opportunities, and as those companies grow, leaders should have the
flexibility to make the right decisions about talent in the firm – not everyone can or needs to
make it from start to finish in a start-up, not even the founders.

13. That great people have great ideas and build great teams, and that capital always backs great
people with great ideas who build great teams – always has, and always will.

14. That each one of us has a unique contribution to make to the world. It is our responsibility to
determine what that is, and to make it.

15. That we are a small group today in Entrepreneur Country who understand and believe these
statements, and that these will dictate the future success of the UK and Europe.

Julie Meyer
17 June 2008