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.

Active glass-polymer superlattice structure for photonic integration.

We propose an all-laser processing approach allowing controlled growth of organic-inorganic superlattice structures of rare-earth ion doped tellurium-oxide-based glass and optically transparent polydimethyl siloxane (PDMS) polymer; the purpose of which is to illustrate the structural and thermal compatibility of chemically dissimilar materials at the nanometer scale. Superlattice films with interlayer thicknesses as low as 2 nm were grown using pulsed laser deposition (PLD) at low temperatures (100 °C). Planar waveguides were successfully patterned by femtosecond-laser micro-machining for light propagation and efficient Er(3+)-ion amplified spontaneous emission (ASE). The proposed approach to achieve polymer-glass integration will allow the fabrication of efficient and durable polymer optical amplifiers and lossless photonic devices. The all-laser processing approach, discussed further in this paper, permits the growth of films of a multitude of chemically complex and dissimilar materials for a range of optical, thermal, mechanical and biological functions, which otherwise are impossible to integrate via conventional materials processing techniques.

Paradoxical evidence integration in rapid decision processes

Decisions about noisy stimuli require evidence integration over time. Traditionally, evidence integration and decision making are described as a one-stage process: a decision is made when evidence for the presence of a stimulus crosses a threshold. Here, we show that one-stage models cannot explain psychophysical experiments on feature fusion, where two visual stimuli are presented in rapid succession. Paradoxically, the second stimulus biases decisions more strongly than the first one, contrary to predictions of one-stage models and intuition. We present a two-stage model where sensory information is integrated and buffered before it is fed into a drift diffusion process. The model is tested in a series of psychophysical experiments and explains both accuracy and reaction time distributions. © 2012 Rüter et al.