Search results

This paper aims to discuss the possibility that Hyperloop using air levitation technology would create a revolution in the future industry of transportation. It also analyses the financing dimension in bringing Hyperloop technology towards full-scale commercialisation.

The study uses a case study of SpaceX Hyperloop. The analyses if Hyperloop would bring about a paradigmatic shift in the transportation industry are based on the classical economic theories of technology S-curves (Utterback and Abernathy, 1975; Fisher and Pry, 1971) and Schumpeter’s model of economic development (Schumpeter, 1939, 1967). The three factors influencing a paradigmatic change (a shift in technoeconomic paradigm) according to Freeman and Perez (1988) are also explored.

The analyses of findings have shown that Hyperloop has not yet met three factors influencing a paradigmatic change. However, the Hyperloop technology has the potential to create a new market of mass transportation. In terms of technology financing, SpaceX needs the right financing infrastructure – corporate venture arm, the crowdfunding platform, initial coin offering, as well as debt and equity financing to accelerate the process of commercialisation. As the project moves forward, Hyperloop technology would create a market for itself (innovation to create the demand and not demand to create innovation).v

Although the body of literature on technology management is already voluminous, there has been a scarcity of past research devoted to elucidating the technology disruption and technology financing. This research study has applied the concepts of technology S-curves to better understand if SpaceX Hyperloop would bring about a paradigm shift or revolution in the future of the transportation industry. The research findings would help fill an identified knowledge gap in the body of research in technology disruption and financing.

A corporate innovation strategy implies that a firm’s strategic intent is to continuously leverage entrepreneurial opportunities for growth- and advantage-seeking purposes. Corporate innovation has gained greater research attention with a focus on the factors that influence an organization’s willingness to initiate and sustain an innovation strategy. In the current disruptive age, firms acknowledge the importance of corporate innovation (also referred to as corporate entrepreneurship) as the critical element for sustained competitive advantage in the global economy. Yet, it has been reported that many organizations struggle with the actual implementation of an innovative strategy. While there are key challenges that must be addressed by today’s corporate innovative leaders in this age of disruptive innovation, many of today’s technological companies are finding success in reaching for the future. As research on corporate innovative activity has evolved, there is still a need to examine some of the latest innovative developments with the technological sector since they are regarded as leading this disruptive age. This chapter examines the most recognized companies in the technological space and discusses their newest explorations. In addition, a framework is presented to illustrate similarities and differences in their approaches to corporate innovation activity.

This paper aims to explore the financing mechanisms towards Mars commercialisation and SpaceX’s Mars mission programme to achieve the interplanetary settlement. This study also suggests the path to avoid the failure of space commercialisation.

This research uses a case study methodology (Eisenhardt, 1989; Yin, 2013). The analysis is based on the construct of technology S-curves and attempts to answer the research question: What are the financing mechanisms to achieve successful aerospace financing for Mars mission? This research used semi-structured questionnaire and conducted 51 in-depth interviews. The interview data were supported by an examination of secondary data to provide a cross check on the validity of research (Yin, 2013). The research findings provide lessons and insights into the challenges of aerospace financing to Mars.

This study has shown that financing via cryptocurrency and initial coin offering as well as crowdfunding (particularly donation- and equity-based crowdfunding) provide promising financial solutions to achieve Mars commercialisation. The implementation of Mars programme demonstrates the fifth generation of innovation development model – systems integration and extensive networking model.

Given a dearth of study focusing on the links between S-curves and technology financing of aerospace commercialisation, this research study attempts to fill a gap in this neglected area with a focus on exploring the financing mechanisms towards Mars commercialisation.