In the entrepreneurial food chain, AQ (adversity quotient)—one's ability to persevere in the face of adversity—may matter more than IQ, according to Gideon Markman, assistant professor of management in the Lally School of Management and Technology at Rensselaer Polytechnic Institute. In other words, the ability to overcome what appear to be insurmountable business and technological difficulties seems to be more important than the idea or the opportunity itself. "These people do not consider themselves victims of adversity, but rather rise to any obstacle or challenge put in their way," Markman says. "To them, adversity is a speed bump, not a mountain. They don't just identify opportunities, they successfully nurture and harvest them." Building on the work of Paul Stoltz, author of Adversity Quotient, Markman tested the AQ of a group of 200 inventors. All the participants in the study invented patented technology. Markman found that entrepreneurial inventors who used their patents to start companies had higher AQs than those who didn't use their patents for that purpose. Additionally, patent inventors with higher AQs were more financially successful. Markman says that measuring AQ could be a crystal ball for venture capitalists and corporate entrepreneurship. AQ measures, for example, may be used to screen and identify technical individuals who will successfully champion new business opportunities. "Prospective entrepreneurs are presenting investors with new, complex, and sometimes highly uncertain technologies," Markman says. "And while venture capitalists may assess the technology, industry, and market with some accuracy, they are rather uncertain on how to assess an entrepreneur's potential. Measuring a technical inventor's AQ may substantially improve backers' investment portfolios." CONTACT: Theresa Bourgeois, (518) 276-2840, bourgt@rpi.edu
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