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Open Access
Article
Publication date: 23 April 2020

Lydia Cánovas-Saiz, Isidre March-Chordà and Rosa Maria Yagüe-Perales

Seed accelerators (SAs) appear as a more advanced version of business incubators. These for-profit organizations in exchange of equity, help setting new start-ups by providing…

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Abstract

Purpose

Seed accelerators (SAs) appear as a more advanced version of business incubators. These for-profit organizations in exchange of equity, help setting new start-ups by providing mentoring and funding during its first months. Due to their emergent nature, the impact and expectations of SAs remains largely unknown. Therefore, the purpose of this study is to throw new light on this field by empirically assessing for the first time the performance and prospects of these organizations through a survey of 116 SAs.

Design/methodology/approach

A model based on the Business Incubators literature is built with four categories covering size, location, age and profitability variables, leading to two hypotheses to be tested empirically over a survey of 116 SAs.

Findings

Some remarkable findings arise after implementation of both bivariate and multivariate analysis. The results confirm a higher size and performance in the US and in the oldest SAs at statistically significant levels.

Research limitations/implications

The study is not free from limitations but the findings make a contribution to the still scarce existing literature on SAs, and provide some managerial implications to their stockholders, to investors and to entrepreneurs.

Practical implications

The findings concerning performance indicators are especially helpful for investors, primarily concerned with the percentage return on investment factor, the period and the investment rounds needed to achieve exit. Another key issue is the SA's role as an employment seedbed. At first glance, the amount of employment, both overall and per company, might seem small given the young age of these firms. The impact of SAs on the generation of new employment is difficult to measure as it usually takes place in further stages of development of the tenant companies, the so-called scale-up process. Nonetheless, at present, the number of new companies being born is remarkable and, in terms of employment, the results are indeed promising. Our findings also offer important implications for entrepreneurs, venture investors and policy-makers. To entrepreneurs, our findings offer insight on the expectations to hold in the accelerator programs.

Social implications

For policy-makers and would-be accelerator founders, our results support the idea shared in the literature that accelerators can be an effective entrepreneurial intervention, even in small entrepreneurial ecosystems, compared to the strongest entrepreneurial hubs (Hallen et al., 2017).

Originality/value

SAs are a very recent phenomenon which is blooming all over the world, especially in developed countries. SAs are therefore considered a key agent in the prospects of any entrepreneurial ecosystem. However, no studies have so far analysed the impact and performance of this emerging instrument. This is precisely the main purpose of this paper, to offer for the first time an approximate and exploratory assessment on the impact and prospects of SAs, based on a database.

目的

種子促進中心,以企業孵化中心的更高級版本的形態出現。這些營利組織、在企業剛開始營運的首數個月內提供指導及資金,以換來股權。由於種子促進中心是從未有過的,故其影響及人們寄予的期望大致仍為未知之數。因此,本研究旨在這範疇內提供新的知識,以實證方法,透過調查116間種子促進中心,首次對這類組織的表現及前景進行了評估。

研究設計/方法/理念

研究人員根據關於企業孵化中心的文獻建立了一個模型,內容包括四個範疇,﹔涵蓋的變量為:規模大小、地域位置、經營年期及盈利狀況。這模型提供了兩個以實證方法、透過調查116間種子促進中心來進行驗證的假設。

研究結果

透過進行二元及多元分析取得卓越的研究結果。研究結果確認了在美國的種子促進中心及歷史最悠久的種子促進中心在統計意義上顯著地呈較具規模及表現更佳。

研究的局限/含意

本研究不是沒有局限的。唯研究結果為現時在種子促進中心方面的探討仍稀少的文獻提供了貢獻,亦為種子促進中心的股東、投資者及企業家提供了管理方面的提示。

實務方面的含意

與表現指數相關的研究結果對投資者尤為有用。他們主要的關注是投資因素的回報率,進行轉讓所需的時間及籌集投資總額。另一主要問題是種子促進中心作為就業苗床所扮演的角色。乍看之下,如考慮到這些公司短暫的歷史,無論整體的就業數量、或是以每間公司計算的就業數量都看似微小。種子促進中心在製造新工作方面的影響是難以量度的。這是因為新工作的產生通常出現在租戶公司發展的進一步階段內, 這就是所謂放大過程。但目前誕生的新公司的數目另人注目。而且, 以就業方面來說,效果實在是相當不錯的。我們的研究結果也為企業家、風險投資者及政策制定者提供重要的暗示。對企業家而言,我們的研究結果為他們就促進中心方案應持甚麼期望提供了啟示。

社會方面的含意

對政策制定者及未來的促進中心始創人而言,我們的研究結果支持文獻所說:促進中心、與最強大的企業樞紐比較之下,即使是在細小的企業生態系統裏,可以是有效的企業介入 (哈倫等人,2017)(Hallen et al., 2017) 。

研究的原創性/價值

種子促進中心是一個頗為近期才出現的現象。這現象在全球興盛起來,特別是在發達國家。因此,種子促進中心被認為是可為任何一個企業生態系統帶來前景的主要媒介。唯至今仍未有分析這新興工具的影響及表現的研究。這正正就是本研究的主要目的,就是首度根據一個數據庫,為種子促進中心的影響及前景提供一個適當和探索性的研究。

Details

European Journal of Management and Business Economics, vol. 29 no. 3
Type: Research Article
ISSN: 2444-8451

Keywords

Open Access
Article
Publication date: 23 August 2023

Giulio Ferrigno, Nicola Del Sarto, Andrea Piccaluga and Alessandro Baroncelli

The objective of this study is to examine current business and management research on “Industry 4.0 base technologies” and “business models” to shed light on this vast literature…

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Abstract

Purpose

The objective of this study is to examine current business and management research on “Industry 4.0 base technologies” and “business models” to shed light on this vast literature and to point out future research agenda.

Design/methodology/approach

The authors conducted a bibliometric analysis of scientific publications based on 482 documents collected from the Scopus database and a co-citation analysis to provide an overview of business model studies related to Industry 4.0 base technologies. After that a qualitative analysis of the articles was also conducted to identify research trends and trajectories.

Findings

The results reveal the existence of five research themes: smart products (cluster 1); business model innovation (cluster 2); technological platforms (cluster 3); value creation and appropriation (cluster 4); and digital business models (cluster 5). A qualitative analysis of the articles was also conducted to identify research trends and trajectories.

Research limitations/implications

First, the dataset was collected through Scopus. The authors are aware that other databases, such as Web of Science, can be used to deepen the focus of quantitative bibliometric analysis. Second, the authors based this analysis on the Industry 4.0 base technologies identified by Frank et al. (2019). The authors recognize that Industry 4.0 comprises other technologies beyond IoT, cloud computing, big data and analytics.

Practical implications

Drawing on these analyses, the authors submit a useful baseline for developing Industry 4.0 base technologies and considering their implications for business models.

Originality/value

In this paper, the authors focus their attention on the relationship between technologies underlying the fourth industrial revolution, identified by Frank et al. (2019), and the business model, with a particular focus on the developments that have occurred over the last decade and the authors performed a bibliometric analysis to consider all the burgeoning literature on the topic.

Details

European Journal of Innovation Management, vol. 26 no. 7
Type: Research Article
ISSN: 1460-1060

Keywords

Open Access
Article
Publication date: 30 September 2022

Valentina Cucino, Nicola Del Sarto, Giulio Ferrigno, Andrea Mario Cuore Piccaluga and Alberto Di Minin

This study investigates the role of “soft” factors of total quality management – in terms of empowerment and engagement of employees – in facilitating or hindering organizational…

Abstract

Purpose

This study investigates the role of “soft” factors of total quality management – in terms of empowerment and engagement of employees – in facilitating or hindering organizational performance of the university technology transfer offices.

Design/methodology/approach

The authors developed an Ordinary Least Squares (OLS), multiple regression model to test if empowerment and engagement affect organizational performance of the university technology transfer offices.

Findings

The authors found that “soft” factors of total quality management – in terms of empowerment and engagement – facilitate the improvement of organizational performance in university technology transfer offices.

Practical implications

The authors’ analysis shows that soft total quality management practices create the conditions for improving organizational performance. This study provides practical implications by showing that, in the evaluation of the technology transfer office, not only the “hard” variables (e.g. number of employees and employee experience) but also the “soft” one (e.g. empowerment and engagement) matter. Therefore, university technology transfer managers or university technology transfer delegates should take actions to promote not only empowering employees but also create a climate conducive to employees' engagement in the university technology transfer offices.

Originality/value

With regards to the differences in organizational performances of university technology transfer offices, several studies have focused their attention on technology transfer professionals in technology transfer offices, but only a few of them have examined the “soft side” of total quality management. Thus, this study examines the organizational goals of technology transfer offices through “soft” factors of total quality management in terms of empowerment and engagement employees.

Details

The TQM Journal, vol. 36 no. 3
Type: Research Article
ISSN: 1754-2731

Keywords

Open Access
Article
Publication date: 15 January 2024

Vaishali Dhiman and Manpreet Arora

This article aims to conduct a bibliometric study using structural and relational approaches amongst the extracted documents and investigates the connections between business…

Abstract

Purpose

This article aims to conduct a bibliometric study using structural and relational approaches amongst the extracted documents and investigates the connections between business incubation and entrepreneurship-related papers to describe the field comprehensively.

Design/methodology/approach

A total of 259 articles have been retrieved from Scopus database in order to conduct the bibliometric analysis. Performance analysis and science mapping techniques of bibliometrics have been used along with data visualisation software, i.e. VOSviewer and RStudio. The network collaboration and intellectual structures, i.e. bibliographic coupling, co-occurrence analysis, word cloud and trending topics, have been presented to identify the field’s latest trends, themes and development.

Findings

The findings highlight annual publication trends, including the most frequently cited articles, the most productive authors, countries and highly influential journals that contribute the most to the said field. The intellectual structures have been developed to identify research themes and trends by running co-occurrence analysis and bibliographic coupling. The findings of this study emphasize the value of technology transfer, mentorship programmes, entrepreneurship education and an emphasis on innovation and creativity through entrepreneurial universities and academia. These findings provide policymakers and administrative officials with crucial guidance for fortifying the pillars of entrepreneurship and education for the comprehensive development of the economy. Further, this article attempts to identify the most influential and relevant publications as well as the newest trends in the area of business incubation in combination with entrepreneurship.

Research limitations/implications

The article contributes not only to broaden the scope of knowledge on the said research discipline but also to comprehend how the field has evolved over a period of time. This study also attracts the interest of scholars/academicians, leading to the significant production of scholarly documents in business incubation and entrepreneurship.

Practical implications

The field of entrepreneurship and business incubation is one of the important pillars for the growth and development of the economy. This piece contributes to this arena by focusing on the areas that must be taken care of by developing the entrepreneurial ecosystem and fostering the progress of startups. The fundamentals of this research highlight the importance of mentorship programs, entrepreneurship education, technology transfer and a focus on innovation and creativity through entrepreneurial education and efforts by universities/academia, giving an important direction to the policymakers and administration for strengthening the pillar of entrepreneurship and education for the holistic development of the economy.

Originality/value

Business incubation is an emerging field of academic research connected to startups, venture formation and entrepreneurship ecosystems, making it a potential scholarly discipline. This study presents a thorough bibliometric analysis over the last three decades, offering comprehensive details on the most significant developments in the field of business incubation. Moreover, the various analytical methods applied to this study make it more attractive.

Details

LBS Journal of Management & Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0972-8031

Keywords

Open Access
Article
Publication date: 2 October 2018

Chul Hyun Uhm, Chang Soo Sung and Joo Yeon Park

This study aims to explore Accelerators and their practices in sustaining start-ups within their innovative programs for these companies based on the resource-based perspective…

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Abstract

Purpose

This study aims to explore Accelerators and their practices in sustaining start-ups within their innovative programs for these companies based on the resource-based perspective. Moreover, with an ever-increasing demand for Accelerators amongst start-up companies, this study also demonstrates the importance of Accelerators, as it pertains to new venture creation.

Design/methodology/approach

This research uses an exploratory case study approach to examine a comparative view of leading Accelerator companies in the USA and Korea based on resource support.

Findings

The results of this study show that there are a number of differences between Accelerators of the two countries in terms of the resources they support for early-stage start-ups. The findings also show some similarities. However, in Korea, the Accelerator landscape is limited, where mentorship, resources and investments are not readily accessible, resulting in low success rates for Korean start-up companies. These limitations have had a negative trickle-down effect when providing entrepreneurs with strong access to resources and investors, which highly affects the success rates of early-stage start-ups.

Practical implications

In terms of the resource-based theory, this study contributes to the growth of early start-ups by emphasizing the role of the accelerator and suggesting the extent and impact that entrepreneurs have access to resources and investors.

Originality/value

With significant growth in start-ups around the world, the necessity for start-up funding and mentorship has increased drastically. Start-up companies need various types of assets, systems, knowledge and information to achieve their goals. In Accelerators, start-ups receive all the aforementioned resources while also improving their entrepreneurial skills. Start-up companies have many options in seeking investors who support both tangible and intangible resources to boost growth. While there is a wealth of information on traditional funding methods, there are few studies that shed light on the role of Accelerators from the resource-based point of view.

Details

Asia Pacific Journal of Innovation and Entrepreneurship, vol. 12 no. 3
Type: Research Article
ISSN: 2398-7812

Keywords

Content available
Book part
Publication date: 16 August 2021

Abstract

Details

Global Migration, Entrepreneurship and Society
Type: Book
ISBN: 978-1-83982-097-7

Open Access
Article
Publication date: 26 December 2023

Raoni Barros Bagno, Gina Colarelli O’Connor, Mario Sergio Salerno and Julio Cezar Fonseca de Melo

Established companies often engage with startups as a way to improve their innovation performance. While there has been extensive discussion on the reasons, modes, and expected…

Abstract

Purpose

Established companies often engage with startups as a way to improve their innovation performance. While there has been extensive discussion on the reasons, modes, and expected outcomes of these initiatives, there is still a need to understand more about how corporate engagements with startups (CEwS) evolve and how they can enhance a company’s innovation capability. This study proposes a framework of engagement strategies, discussing their purposes and implications to understand the subject better.

Design/methodology/approach

This study involved managers from twelve large, established companies across various sectors. The authors used a multicase approach to analyze their experiences and offer a framework for corporate-startup engagement.

Findings

The framework for corporate-startup engagement consists of four main strategies: (1) innovative improvement, (2) R&D expansion, (3) more value to corporate venture capital and (4) ecosystem articulation. The authors found that ecosystem articulation, which combines the potentials of the other three strategies, is the most sophisticated approach.

Originality/value

This study offers a systematic view of the CEwS phenomenon, identifying the various modes of engagement, the reasons for adopting each one and potential ways to advance and improve them. For managers, the study reveals the CEwS as a lever to build innovation capabilities over time.

Details

Innovation & Management Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2515-8961

Keywords

Open Access
Article
Publication date: 9 March 2023

Katja Hutter, Ferry-Michael Brendgens, Sebastian Peter Gauster and Kurt Matzler

This paper aims to examine the key challenges experienced and lessons learned when organizations undergo large-scale agile transformations and seeks to answer the question of how…

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Abstract

Purpose

This paper aims to examine the key challenges experienced and lessons learned when organizations undergo large-scale agile transformations and seeks to answer the question of how incumbent firms achieve agility at scale.

Design/methodology/approach

Building on a case study of a multinational corporation seeking to scale up agility, the authors combined 36 semistructured interviews with secondary data from the organization to analyze its transformation since the early planning period.

Findings

The results show how incumbent firms develop and successfully integrate agility-enhancing capabilities to sense, seize and transform in times of digital transformation and rapid change. The findings highlight how agility can be established initially at the divisional level, namely with a key accelerator in the form of a center of competence, and later prepared to be scaled up across the organization. Moreover, the authors abstract and organize the findings according to the dynamic capabilities framework and offer propositions of how companies can achieve organizational agility by scaling up agility from a divisional to an organizational level.

Practical implications

Along with in-depth insights into agile transformations, this article provides practitioners with guidance for developing agility-enhancing capabilities within incumbent organizations and creating, scaling and managing agility across them.

Originality/value

Examining the case of a multinational corporation's exceptional, pioneering effort to scale agility, this article addresses the strategic importance of agility and explains how organizational agility can serve incumbent firms in industries characterized by uncertainty and intense competition.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

Keywords

Abstract

Purpose

The study aimsto analyze the main elements associated with the evolution of Brazilian agtechs from the initial conception of the business model to becoming companies in the scale-up stage.

Design/methodology/approach

The exploratory research was conducted based on data collected through in-depth interviews. The answers were analyzed quantitatively using descending hierarchical classification (DHC) and correspondence factor analysis (CFA) and qualitatively using content analysis.

Findings

Five main elements were identified as responsible for the evolution of the companies up to their entering the scale-up phase: (1) governance, (2) decisions inherent to resource allocation, (3) monitoring of strategic, tactical and operational activities, (4) fostering human capital development and (5) business model validation. Each element presents a set of performance indicators that show the scalability of these companies.

Practical implications

The model developed can help companies that have not yet advanced from the conception of the business model to the scalability of different sectors, in addition to agribusiness.

Social implications

Proposal of a model that presents the main elements that impact on scalability and respective indicators that contributed to the scalability process of Brazilian agtechs.

Originality/value

This study contributed to advancing the knowledge on the organizational life cycle (OLC) of agricultural startups, particularly regarding the factors responsible for their scalability.

Details

Revista de Gestão, vol. 29 no. 3
Type: Research Article
ISSN: 1809-2276

Keywords

Abstract

Details

IDeaLs (Innovation and Design as Leadership)
Type: Book
ISBN: 978-1-80071-834-0

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