External corporate venture capital investment: Towards a framework for capturing and measuring strategic value

This paper presents the initial results of on-going research in the field of external Corporate Venture Capital (CVC) investments, i.e. equity investments of large corporations in entrepreneurial ventures which originated outside the corporation. The research is motivated by the fact that external CVC plays an increasingly important role within the strategy of corporations. Driven by a general trend towards a more open approach to innovation, companies see particular value in external corporate venturing as a tool to gain, for example, access to complementary technologies and a general window on technology developments. The review of literature in the field of external corporate venturing clearly reveals that theoretical gaps exist in understanding mechanisms for capturing value and measurements of this value. To help close these gaps, the research addresses the underlying question "How do corporations and start-ups capture and measure strategic value through external CVC investments" by using embedded, multiple case studies. Following an initial set of case studies, steps towards the development of a framework for capturing and measuring strategic value from CVC investments are outlined within this paper and the resulting preliminary framework is presented. The paper closes with an outlook on ongoing and future research steps. © 2009 PICMET.

The analysis of impact forces in randomly vibrating elastic systems

This work is concerned with the characteristics of the impact force produced when two randomly vibrating elastic bodies collide with each other, or when a single randomly vibrating elastic body collides with a stop. The impact condition includes a non-linear spring, which may represent, for example, a Hertzian contact, and in the case of a single body, closed form approximate expressions are derived for the duration and magnitude of the impact force and for the maximum deceleration at the impact point. For the case of two impacting bodies, a set of algebraic equations are derived which can be solved numerically to yield the quantities of interest. The approach is applied to a beam impacting a stop, a plate impacting a stop, and to two impacting beams, and in each case a comparison is made with detailed numerical simulations. Aspects of the statistics of impact velocity are also considered, including the probability that the impact velocity will exceed a specified value within a certain time. © 2012 Elsevier Ltd. All rights reserved.

Prediction of tread block forces for a free-rolling tyre in contact with a rough road

This paper describes a new approach to model the forces on a tread block for a free-rolling tyre in contact with a rough road. A theoretical analysis based on realistic tread mechanical properties and road roughness is presented, indicating partial contact between a tread block and a rough road. Hence an asperity-scale indentation model is developed using a semi-empirical formulation, taking into account both the rubber viscoelasticity and the tread block geometry. The model aims to capture the essential details of the contact at the simplest level, to make it suitable as part of a time-domain dynamic analysis of the coupled tyre-road system. The indentation model is found to have a good correlation with the finite element (FE) predictions and is validated against experimental results using a rolling contact rig. When coupled to a deformed tyre belt profile, the indentation model predicts normal and tangential force histories inside the tyre contact patch that show good agreement with FE predictions. © 2012 Elsevier B.V..

Towards a modular toolkit for strategic technology management

Many strategic technology management methods and tools have been proposed and deployed by academics and practitioners. Each approach, with its advantages and disadvantages, provides a particular perspective for supporting understanding, analysis, decision and action. Many approaches overlap in function, the interfaces with other methods are not clear, and many variants of tools are often available with little guidance provided for their application. As a step towards the construction of a flexible toolkit for supporting strategic technology management, this paper sets out a workshop-based approach that comprises functional modules that can be combined to address a range of management challenges. Copyright © 2012 Inderscience Enterprises Ltd.

Market-pull and technology-push in manufacturing start-ups in emerging industries

Purpose - As traditional manufacturing, previously vital to the UK economy, is increasingly outsourced to lower-cost locations, policy makers seek leadership in emerging industries by encouraging innovative start-up firms to pursue competitive opportunities. Emerging industries can either be those where a technology exists but the corresponding downstream value chain is unclear, or a new technology may subvert the existing value chain to satisfy existing customer needs. Hence, this area shows evidence of both technology-push and market-pull forces. The purpose of this paper is to focus on market-pull and technology-push orientations in manufacturing ventures, specifically examining how and why this orientation shifts during the firm's formative years. Design/methodology/approach - A multiple case study approach of 25 UK start-ups in emerging industries is used to examine this seldom explored area. The authors offer two models of dynamic business-orientation in start-ups and explain the common reasons for shifts in orientation and why these two orientations do not generally co-exist during early firm development. Findings - Separate evolution paths were found for strategic orientation in manufacturing start-ups and separate reasons for them to shift in their early development. Technology-push start-ups often changed to a market-pull orientation because of new partners, new market information or shift in management priorities. In contrast, many of the start-ups beginning with a market-pull orientation shifted to a technology-push orientation because early market experiences necessitated a focus on improving processes in order to increase productivity or meet partner specifications, or meet a demand for complementary products. Originality/value - While a significant body of work exists regarding manufacturing strategy in established firms, little work has been found that investigates how manufacturing strategy emerges in start-up companies, particularly those in emerging industries. © Emerald Group Publishing Limited.

Thermodynamic formulation of flowing soft matter with transient forces

The Responsive Particle Dynamics model is a very efficient method to account for the transient forces present in complex fluids, such as solutions of entangled polymers. This coarse-grained model considers a solution of particles that are made of a core and a corona. The cores typically interact through conservative interactions, while the coronae transiently penetrate each other to form short-lived temporary interactions, typically of entropic origin. In this study, we reformulate the resulting rheological model within the general framework of nonequilibrium thermodynamics called General Equation for the Nonequilibrium Reversible-Irreversible Coupling. This allows us to determine the consistency of the model, from a mechanistic and thermodynamic point of view, and to isolate the reversible and irreversible contributions to the dynamics of the model system. © 2012 Springer-Verlag Berlin Heidelberg.