Mark Kellett, chief executive, Magnet Networks
9th March 2010
We have to stop punishing failure.
We need to start off with the education sector. How do we promote, who do we envisage as exemplars in this area?
Do we set up our business studies or finance students or maths students to be entrepreneurs? Do we educate them about what it takes to be an entrepreneur?
We tend to educate about basic economic rules and realities but don’t talk about or facilitate discussion or debate around entrepreneurialism.
As an economy and a legal system the other thing we don’t reward is risk. We punish risk takers. If you look at our bankruptcy laws, which are very antiquated and recognised as antiquated, we crush people who take a risk.
There needs to be an overhaul of bankruptcy laws that yes, recognizes reckless risk and punishes for that, but also recognises and rewards people who take a risk and help with job creation and innovation. That needs to be underpinned by a funding structure and an appropriate bureaucracy.
As a nation we are not set up for entrepreneurship. We have put property investors and developers on a pedestal in the past and we’re happy to see them crash today. But who are the real heroes, the entrepreneurs of the future who will inspire future generations coming through? To inspire people you need a platform in place for them to be successful.
Mark Kellett's biography
Mark Kellett has held the position of CEO for Magnet Networks since November 2007. Previous to his appointment, Kellett was Group Finance Director for Yahoo! Europe where he served from 2004 to 2006 as a member of the European Executive Board and chairman of the Irish Board of Directors, providing organisational leadership to a worldwide finance and operations team. A key achievement at Yahoo! was the establishment of the European Shared Services Centre and securing the necessary IDA backing/funding.
Other career highlights include a senior role as Worldwide Finance Director for Network Appliance based in California and a position as EMEA Finance Manager for SUN Microsystems based in the UK.
Kellett is a keen sportsman and was part of the first Irish Expedition to Mount Everest in 1993, and subsequently went on to train as a mountain leader. Kellett was also selected to play representative rugby in England.
Kellett is a qualified accountant and holds an MBA from Manchester Business School.
