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Michael Hay is Professor of Management Practice at London Business School. He was Deputy Dean and Secretary of the School for five years until December 2006 and Acting Dean of CIDA City Campus in Johannesburg in 2007. He joined the London Business School faculty in 1987 and has held a range of posts including: Director of the Foundation for Entrepreneurial Management, Associate Dean of the Sloan Masters Programme and Dean of Executive Education. Michael Hay is co-founder of the Global Entrepreneurship Monitor, which examines the nature and impact of entrepreneurial activity in more than 40 countries around the world, and Chairman of the Board of the Centre for Scientific Enterprise, a major collaborative programme between London Business School and University College London. He has undertaken assignments for many international companies including British Airways, 3M, United Business Media and Roche, both in Europe and the US. Prof. Hay is a founder director of Imparta Ltd, chairman of CIDA Foundation UK and a member of the Advisory Board of the African Association of Business Schools. He is also the author of numerous books and articles in the areas of entrepreneurship and venture capital.