The Role and Measurement of Social Capital in New Technology-Based Start-up Context

Tämän Pro gradu-tutkielman tavoitteena olirakentaa esiymmärrys sosiaalisen pääoman roolista ja mittaamisesta uuden teknologian start-up yrityksissä. Pääasiallisena tarkoituksena tässä tutkimuksessa olilöytää sosiaalisen pääoman ja start-up yrityksen tuloksellisuuden välille yhdistävä tekijä. Tutkimuksen empiirinen aineisto kerättiin pääasiallisesti kuuden OKO Venture Capitalin sijoitusportfolioon sisältyvien case-yritysten kvalitatiivisten teemahaastatteluiden sekä kvantitatiivisten kyselylomakkeiden avulla. Kvalitatiivisten haastatteluiden tulosten perusteella sosiaalisen pääoman ja tuloksellisuuden välille löytyi yhdistävä tekijä, jota käytettiin myöhemmin hyväksi kvantitatiivisessa kyselylomakkeessa. Tämän tutkielman tulokset osoittivat, että startegisen päätöksenteon kautta sosiaalinen pääoma vaikuttaa osittain start-up yritysten tuloksellisuuteen. Manageriaalisesti tärkempi löydös tässä tutkimuksessa oli kuitenkin se, että sosiaalista pääomaa voidaan käyttää hyväksi ennustettaessa uuden teknologian start-up yritysten tulevaisuuden kassavirtoja.

An assessment of factors affecting performance and growth of new technology based firms in the UK

New Technology Based Firms (NTBF) are considered to be important for the economic development of a country in regards to both employment growth and innovative activity. The latter is believed to contribute significantly to the increase in productivity and therefore the competitiveness of UK’s economy. This study contributes to the above literature by investigating two of the factors believed to limit the growth of such firms in the UK. The first concerns the existence of a ‘knowledge gap’ while the second the existence of a ‘financial gap’. These themes are developed along three main research lines. Firstly, based upon the human capital theory initially proposed by Backer (1964) new evidence is provided on the human capital characteristics (experience and education) of the current UK NTBF entrepreneurs. Secondly, the causal relationship between general and specific human capital (as well as their interactions) upon the company performance and growth is investigated via its traditional direct effect as well as via its indirect effect upon the access to external finance. Finally, more light is shed on the financial structure and the type of financial constraints that high-tech firms face at start-up. In particular, whether a financial gap exists is explored by distinguishing between the demand and the supply of external finance as well as by type of external source of financing. The empirical testing of the various research hypotheses has been obtained by carrying out an original survey of new technology based firms defined as independent companies, established in the past 25 years in R&D intensive sectors. The resulting dataset contains information for 412 companies on a number of general company characteristics and the characteristics of their entrepreneurs in 2004. Policy and practical implications for future and current entrepreneurs and also providers of external finance are provided.

A qualitative study of the internationalization of born-global technology start-ups in Brazil

O fenômeno das empresas born globals e a internacionalização de empresas brasileiras de base tecnológica são tópicos recentes na literatura acadêmica, devido também ao fenômeno ser recente. Não existem muitos estudados feitos com foco no mercado brasileiro, e os poucos que foram feitos, possuem um viés quantitativo. Esse estudo, entretanto, tem como objetivo analisar startups de maneira qualitativa. Uma extensa revisão de literatura foi desenvolvida a fim de melhor analisar as fundações nas quais o estudo seria desenvolvido, revisando os métodos de internacionalização, empreendedorismo no Brasil, e o fenômeno born global no geral. Entrevistas foram conduzidas com empreendedores no Brasil, que passaram pelo processo de internacionalização de seus modelos de negócios, a fim de reunir introspecções a respeito das peculiaridades do mercado brasileiro. Foram também analisados os fatores de escalabilidade de modelos de negócios dependentes de tecnologia, motivadores para a internacionalização, critério de seleção de mercados, programas governamentais, e o papel das startups brasileiras em uma perspectiva global.

Knowledge sources, innovative activity and the performance of UK new technology based firms

We present an innovation value chain analysis for a representative sample of new technology based firms (NTBFs) in the UK. This involves determining which factors lead to the usage of different knowledge sources and the relationships that exist between those sources of knowledge; the effect that each knowledge source has on innovative activity; and how innovation outputs affect the performance of NTBFs. We find that internal (i.e. R&D) and external knowledge sources are complementary for NTBFs, and that supply chain linkages have both a direct and indirect effect on innovation. NTBFs' skill resources matter throughout the innovation value chain, being positively associated with external knowledge linkages and innovation success, and also having a direct effect on growth independent of the effect on innovation. ©2010 IEEE.

Knowledge sources, innovative activity and the performance of UK new technology based firms

We present an innovation value chain analysis for a representative sample of new technology based firms (NTBFs) in the UK. This involves determining which factors lead to the usage of different knowledge sources and the relationships that exist between those sources of knowledge; the effect that each knowledge source has on innovative activity; and how innovation outputs affect the performance of NTBFs. We find that internal (i.e. R&D) and external knowledge sources are complementary for NTBFs, and that supply chain linkages have both a direct and indirect effect on innovation. NTBFs' skill resources matter throughout the innovation value chain, being positively associated with external knowledge linkages and innovation success, and also having a direct effect on growth independent of the effect on innovation. ©2010 IEEE.

The innovation value chain in new technology based firms:evidence from the UK

We present the first innovation value chain analysis for a representative sample of new technology based firms (NTBFs) in the UK. This involves determining which factors lead to the usage of different knowledge sources and the relationships that exist between those sources of knowledge; the effect that each knowledge source has on innovative activity; and how innovation outputs affect the performance of NTBFs. We find that internal and external knowledge sources are complementary for NTBFs, and that supply chain linkages have both a direct and indirect effect on innovation. NTBFs’ skill resources matter throughout the innovation value chain, being positively associated with external knowledge linkages and innovation success, and also having a direct effect on growth independent of the effect on innovation. Exporting matters for performance, but not through any effect on innovation.

R&D, innovation and exporting:evidence from UK new technology based firms

We examine the relationship between R&D, innovation and exporting for a sample of new technology based firms (NTBFs) in the UK. Allowance is made for selection bias and for endogeneity between innovation and exporting. Innovators are more likely to export, but conditional on entering export markets successful innovation does not increases subsequent export intensity. Lagged productivity is strongly associated with exporting, supporting the view that efficient firms are better able to overcome the barriers to entering export markets. We also find strong evidence of the importance of internal R&D and of supply-chain collaborations in fostering innovation, and that formal commercial collaborations can be important in overcoming the (information) sunk costs of entering export markets. The use of e-commerce does nothing to boost entry into export markets, but the intensity of its use is associated with increased export intensity.

R&D, product innovation, and exporting:evidence from UK new technology based firms

We examine the relationship between R&D, product innovation, and exporting for a sample of new technology based firms (NTBFs) in the UK. Allowance is made for selection bias and for endogeneity between innovation and exporting. Product innovators are more likely to export, but conditional on entering export markets successful innovation does not increase subsequent export intensity. Lagged productivity is strongly associated with exporting, supporting the view that efficient firms are better able to overcome the barriers to entering export markets. We also find strong evidence of the importance of internal R&D and of supply-chain collaborations in fostering innovation, and that formal commercial collaborations can be important in overcoming the (information) sunk costs of entering export markets. The use of e-commerce does nothing to boost entry into export markets, but the intensity of its use is associated with increased export intensity.

The Phenomenon of international new ventures, global start-ups, and born-globals: what do we know after a decade (1993-2002) of exhaustive scientific inquiry?

In this paper, 27 studies from the last decade which deal more or less explicitly with the International New Venture, global start-up or born-global phenomenon are first identified, and then fully examined and critically assessed as a basis for obtaining an adequate view of the state-of-the-art of this increasingly important research avenue in the field of International Entrepreneurship (IE). The methodology used for this synthetic review allow us to analyze a number of recent, purposefully-chosen studies that are systematically compared along the following criteria: 1) main objective and type of research; 2) theoretical framework/s of reference, 3) methodological issues, and 4) main findings and/or conclusions. As a result of this literature review, a critical assessment follows in which the most relevant benefits and contributions as well as potential drawbacks, limitations or major discrepancies in the research activities conducted so far are discussed. Finally, some suggestions and implications are provided in the form of future research directions.

Founders' human capital and the performance of UK new technology based firms

This paper investigates the role of entrepreneurs' general and specific human capital on the performance of UK new technology based firms using a resource based approach to the entrepreneurship theory. The effect of entrepreneurial human capital on the performance of NTBFs is investigated using data derived from a survey of 412 firms operating in both high-tech manufacturing and the services sectors. According to the resource based theory it is found that specific human capital is more important for the performance of NTBFs in relation to general. More specifically individual entrepreneurs or entrepreneurial teams with high levels of formal business education, commercial, managerial or same sector experience are found to have created better performing NTBFs. Finally it is found that the performance of a NTBF can improve through the combination of heterogeneous but complementary skills, including, for example, technical education and commercial experience or managerial technical and managerial commercial experience. © 2010 Springer Science+Business Media, LLC.

Product innovation in a new technology based firm

This thesis examines the "state of the art" of product innovation in new technology In the UK. The roles in innovation attributed to small and large firms are examined. Growing attention is being focused upon the small firm sector as a seedbed for Innovation and government policy has been changing to encourage the entrepreneurial new technology based firm (NTBF). The novel perspective of this research results from working in such a firm. It provides a longitudinal study of the management of innovation in conjunction with the corporate strategy of the firm. Given that the researcher was a participant and observer in the firm studied, the research is akin to action research in methodology but is better described as grounded theory. Theoretical concepts are drawn from the prescriptive literature describing corporate strategy, and from the empirical literature which has evaluated new product success and failure. Models of the Innovation process are discussed and appropriate strategies and reasons for product innovation failure in NTBFs are described. The strategy, structure and new product development progress of the company are examined, using both the researcher's observations and company documents. This provides information on the methods and practices adopted for product innovation in a NTBF. The thesis analyses the performance of the firm In terms of product innovation. The models and strategies derived from the literature are then tested in the light of the experience of the company. Conclusions are drawn regarding strategies for innovation in NTBFs and about the innovation process in general. The importance of a NTBF adopting a synergistic strategy is shown. Links are established between the existence of synergy in the strategy and coupling in the management of innovation. Innovation is shown to be a laterally interdisciplinary exercise and therefore the "pipeline model" Is criticised. Finally a set of guidelines Is produced for the managers of NTBFs.

The innovation value chain in new technology-based firms:evidence from the U.K.

Innovation is central to the survival and growth of firms, and ultimately to the health of the economies of which they are part. A clear understanding both of the processes by which firms perform innovation and the benefits which flow from innovation in terms of productivity and growth is therefore essential. This paper demonstrates the use of a conceptual framework and modeling tool, the innovation value chain (IVC), and shows how the IVC approach helps to highlight strengths and weaknesses in the innovation performance of a key group of firms-new technology-based firms. The value of the IVC is demonstrated in showing the key interrelationships in the whole process of innovation from sourcing knowledge through product and process innovation to performance in terms of the growth and productivity outcomes of different types of innovation. The use of the IVC highlights key complementarities, such as that between internal R&D, external R&D, and other external sources of knowledge. Other important relationships are also highlighted. Skill resources matter throughout the IVC, being positively associated with external knowledge linkages and innovation success, and also having a direct influence on growth independent of the effect on innovation. A key benefit of the IVC approach is therefore its ability to highlight the roles of different factors at various stages of the knowledge-innovation-performance nexus, and to show their indirect as well as direct impact. This in turn permits both managerial and policy implications to be drawn. © 2012 Product Development & Management Association.

Factors Affecting the Adoption of New Technology: the case of 311 Government Call Centers

Government call centers (311) were first created to reduce the volume of non-emergency calls that were being placed to emergency 911 call centers. The number of 311 call centers increased from 57 in 2008 to about 300 in 2013. Considering that there are over 2,700 municipal government units across the United States, the adoption rate of the 311 centers is arguably low in the country. This dissertation is an examination of the adoption of 311 call centers by municipal governments. My focus is specifically on why municipal governments adopt 311 and identifying which barriers result in the non-adoption of 311 call centers. This dissertation is possibly the first study to examine the adoption of 311 call centers in the United States. The dissertation study has identified several significant factors in the adoption and non-adoption of 311 government call centers. The following factors were significant in the adoption of 311 government call centers: managerial support, financial constraints, organizational responsiveness, strategic plan placement, and technology champion. The following factors were significant barriers that resulted in the non-adoption of a 311 government call center; no demand from citizens, start up costs, annual operating costs, unavailability of funding, and no obvious need for one.If local government entities that do not have a 311 government call center decide to adopt one, this study will help them identify the conditions that need to be in place for successful adoption to occur. Local government officials would first need to address the barriers in setting up the 311 call centers.