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The purpose of this paper is to reveal the pattern between government innovation funding and enterprise value creation. Many factors, including government innovation funding, R&D ability, corporate governance and some company characteristics significantly affected the efficiency of firm value creation.

This paper proposed a novel methodology based on clustering-rough sets to explore the characteristics of enterprise value creation behavior, and map the relationship between government innovation funding and enterprise value creation. The agglomerative hierarchical clustering (AHC) algorithm were used to classify firm performance and get two types of value creation efficiencies and to discretize condition attributes because the rough set theory cannot deal with continuous attributes. This paper utilized the rough sets method to realize data mining and get rules of government innovation funding and enterprise value creation.

R&D ability, proportion of independent directors, remuneration of directors, operating revenue, number of employees, price-earnings ratio, quick ratio, capital intensity and ROA were important to identify firm value creation efficiency when government funded the firms. Firms of high level of government innovation funding, high lagged R&D ratio, high remuneration of directors, low price-earnings ratio, low quick ratio, moderate capital intensity and high ROA were more likely to have high efficiency of value creation.

Since China implemented the innovation-driven development strategy, facilitating enterprise innovation has become an important way to achieve high-quality economic growth. With constantly increasing of Chinese government innovation funding, studying on the effect of government innovation funding on firm’s value creation is significant to improve the efficiency of government resource allocation. It is valuable to reveal the pattern between government innovation funding and enterprise value creation based on the value added theory. The rules obtained could be used to provide decision-making support to improve the efficiency of government innovation funding and prevent waste of government resources effectively.

The purpose of this paper will be on finding and analyzing the impact of government on the information and communication technology (ICT) companies’ innovation performance. The study aims to conduct in-depth research about the government as an integrated actor of the innovation ecosystem (IE), not a sole member. This would be the core finding toward doing further research about the impact of the innovation ecosystem in the ICT sector in Kosovo.

Quantitative research has been considered the most suitable data collection method. Furthermore, in this study, it is used convenience sampling as a technique of the sampling process. The sample size of this study is 106 participants. The participants are owners or representatives of ICT companies in Kosovo. Since the study is conducted using the deductive approach, the questionnaire is considered to be the most suitable instrument for gathering data.

This paper provides empirical insights that the company’s size and the dedicated department for research and development have no impact on how the company takes advantage of public funding from the government. Furthermore, the authors of the paper found out that government has a positive impact on companies’ introduction of new products and services, while the impact of the government on a company’s financial performance was insignificant.

The future research direction should be firstly on studying other IE actors and their impact on companies’ innovation performance and secondly on measuring the IE actors as a set of actors to have a broader picture on how IE impacts the companies’ innovation performance.

The scientific contribution of this study will be on mapping, analyzing and proposing government policies in accordance with the findings of this study that would lead to a more comprehensive and sustainable IE in Kosovo.

This study tries to fulfill an identified need to study the impact of interconnected actors of an innovation ecosystem and to show how they affect each other. In this study, it is taken for research one fragment of a set of actors.

This historical example of the creation of the arms industry in the Connecticut River Valley in the 1800s provides new insights into the value of government venture capital (GVC) and government demand in creating a new industry. Since current theoretical explanations of the best uses of governmental venture capital are still under development, there is considerable need for further theory development to explain and predict the creation of an industry and especially those industries where failures in private capital supply necessitates governmental involvement in new firm creation. The purpose of this paper is to provide an in depth historical review of how the arms industry evolved spurred by GVC and government created demand.

This study uses abductive inference as the best way to build and test emerging theories and advancing theoretical explanations of the best uses of GVC and governmental demand to achieve socially required outcomes.

By observing this specific historical example in detail, the authors add to the understanding of value creation caused by governmental venture capital funding of existing theory. A major contribution of this paper is to advance theory based on detailed observation.

The relatively limited research literature and theory development on governmental venture capital funding and the critical success factors in startups are enriched by this abductive investigation of the creation of the historically important arms industry and its spillover into creating the specialized machine industry.

The authors' intention is to demonstrate how adopting a more precise interpretation of the term “institution” as used in the innovation studies literature provides a better understanding of the dynamic nature of an innovation system. The paper therefore focuses less on organisations and other key actors in Hong Kong's innovation system and more on the laws, rules, procedures, business practices, etc. that facilitate and govern such activity.

The paper adopts the term “innovation environment” to denote the institutional setting within which innovative activity is carried out in Hong Kong and reviews key elements of the innovation environment to note trends towards innovation‐oriented changes. Data and other descriptive information that informs the treatment of the innovation environment are based on interviews of diverse actors associated with Hong Kong's innovation system as well as research into an interdisciplinary body of literature.

The authors find that although there has been little evidence of substantial progress in the development of Hong Kong's innovation system, key elements of the innovation environment exhibit trends in the direction of a more robust use of innovation‐related resources to drive economic growth in the territory.

Apart from its focus on Hong Kong's innovation system, the paper advances innovation studies by demonstrating that its methodology of examining the innovation environment – the institutional setting in which key organisational actors carry out innovative activity – reveals the dynamism of an innovation system that might not emerge from a focus on organisations and other key actors.

Past work has shown that failure tolerance by principals has the potential to stimulate innovation, but has not examined how this affects which projects principals will start. We demonstrate that failure tolerance has an equilibrium price – in terms of an investor’s required share of equity – that increases in the level of radical innovation. Financiers with investment strategies that tolerate early failure will endogenously choose to fund less radical innovations, while the most radical innovations (for whom the price of failure tolerance is too high) can only be started by investors who are not failure tolerant. Since policies to stimulate innovation must often be set before specific investments in innovative projects are made, this creates a trade-off between a policy that encourages experimentation ex post and the one that funds experimental projects ex ante. In equilibrium, it is possible that all competing financiers choose to offer failure tolerant contracts to attract entrepreneurs, leaving no capital to fund the most radical, experimental projects in the economy. The impact of different innovation policies can help to explain who finances radical innovations, and when and where radical innovation occurs.

Government R&D subsidies is a major practice to respond to market failures in most countries. The purpose of this study is to examine the effect of the government subsidies on China’s regional innovation output empirically under the regional innovation framework, for the unique regional innovation system and strong national influence of state during the period of transformation.

Based on the construction of regional innovation framework, this study empirically examined the effect of Chinese Government R&D subsidies on regional innovation during the economic transition period using the Bayesian model averaging method and carried out the robustness test under different priori assumptions.

The empirical results showed that R&D capital and human investment has a very significant impact on promoting the regional innovation output of China’s high-tech industries. Meanwhile, the Chinese Government's R&D subsidies failed, thus the goal of improving regional innovation output has not been achieved. In reverse, the effects of regional economic development level and the financial environment on regional innovation are negative but the explanatory power is minimal. Additionally, opening-up has greatly promoted regional innovation output.

The empirical findings provide scientific policy decision-making and management implications for government and firm, respectively, and its experience is a very important reference for other emerging economies. Additionally, China serves as an interesting case to examine whether government R&D subsidy is effective in an immature market.

This paper discusses the services and support from one of the government design-based business incubators in Hong Kong. The characteristics of a design business incubator are explained, and a multiple-case study indicates the perspectives of incubatees from different design disciplines after their graduation from the incubation programme.

The research under discussion in this paper was based on eight design incubatees in different design disciplines within two years of incubation period, all of whom had participated in one of the government-funded business incubation programmes for designers in Hong Kong. The programme is unique because there are no other government-based incubation programmes for designers in Hong Kong. Semi-structured interviews were conducted to collect feedback from incubatees in areas ranging from terms of service to support of the incubation programme.

The services of training, mentorship and finance were found to be the most important to design start-ups. Financial support and flexible funding allocation were another important issue for design incubatees, but training in these subject areas was not included in the incubation programme. However, it was confirmed that funding provided may have helped a number of the incubatees in developing their start-up businesses as a result of the reduced financial burden and office allocation.

The research focused on one incubation programme because of the lack of incubation programmes for designers in Hong Kong, therefore future research which compares different types of business incubation programmes is suggested.

The outcomes of the research not only identified the possible areas of development and improvement of business incubation in entrepreneurship but they will also be useful for the government, universities, institutions, designers, policy makers, entrepreneurs and practitioners. These, in addition to industry stakeholders who want to evaluate their entrepreneurship programmes and develop their plans for potential development in incubation- or entrepreneurial-related programmes or training, especially in the area of design, will find the results useful.

The purpose of this paper is to analyse how start-ups with a clear sustainability focus collaborate with multiple actors at different levels to pursue business ideas and develop sustainable freight transport solutions.

This paper builds on a theoretical approach that includes three levels of analysis: the actor level (micro), business-network level (meso) and society and government level (macro). An embedded case study is used of a focal start-up aiming to innovate on networked platforms and electric and autonomous vehicles (EAVs).

Activities and resources are developed at the firm (micro), network (meso) and societal levels (macro), and all three levels need to be considered for a start-up, with a clear sustainability focus. Interaction within as well as between levels affects the innovation development, integration and implementation. The many-folded collaborations at the meso level serve as a locus for the integration of EAVs. The start-up’s networking activities with actors at meso and macro levels contribute to it gaining legitimacy in the transport system.

This paper focuses on the importance of collaboration in the context of developing innovative solutions for environmental sustainability and freight transport and provides a unique case of how a start-up company manages collaborations at the micro, meso and macro levels.