Ami Miron’s Dream Inspired Millions of Interactive Cable Boxes
Ami Miron, an Israeli American entrepreneur, changed the face of television.
He credits much of his drive to his parents. He attended the Israel Defense Force’s Officers Academy, where he graduated first in his class. He went on to earn engineering and management degrees at the Israel Institute of Technology, Polytechnic Institute of New York University, Columbia University and Babson College.
Miron spent his early engineering career at Philips Electronics and General Instrument Corporation (later Google), leading advanced technology and new products for the TV and cable TV market. He developed the first practical Picture-In-Picture system for televisions, solved annoying ghost images, and developed the first high-definition television systems. For his achievements, he was awarded two Technology and Engineering Emmy Awards by the National Academy of Television Arts and Sciences.
In 1997, Miron decided to leverage his experience into his own venture. He co-founded MoreCom, Inc., serving as Chairman, President and CEO. MoreCom was a software company, providing an integrated solution for the delivery of digital video and Internet content to the television set.
When Miron started MoreCom, he needed capital.
“I met with many local VCs, and was disappointed because they said I was only a good engineer, and needed a different CEO to build the company,” he said. “And then I met with Ben Franklin Technology Partners, who recognized my understanding of both the technology and market, and worked with me to refine the business plan,” he added. In fact, Ben Franklin rejected Miron’s first application, but he reapplied after receiving extensive feedback from the process, and Ben Franklin invested $150,000 in 1998.
“Ben Franklin’s approval convinced other VCs to come on board, and soon we had enough money to build the company. If not for Ben Franklin, this would not have happened.”
Miron built MoreCom from three co-founders to nearly 40 employees by 2000. That year, several larger companies bid to acquire the company and take the promising technology to the next level. Liberate Technologies eventually acquired MoreCom for more than $560 million in stock.
Liberate was later acquired by Comcast, which integrated MoreCom technology into its millions of interactive cable boxes. Best of all, most of MoreCom’s employees remained in the region during the transitions.
After MoreCom, Miron focused on raising his four children, and founded AM Partners, which works with companies, entrepreneurs and VCs to develop successful ventures.
In 2002, he joined Ben Franklin’s board, determined to help other entrepreneurs reach their potential. Miron said “Ben Franklin, unlike many VCs, is committed to working with the entrepreneur to build the company to a success. I think they are the best model”.