Venture Capital Initiative: Ohio's School Improvement Effort.

Science.gov (United States)

Yoo, Soonhwa; Loadman, William E.

In 1994 the Ohio State Legislature established Venture Capital to support school restructuring. The Venture Capital school initiative is a concept borrowed from the business community in which the corporate entity provides risk capital to parts of the organization to stimulate creative ideas and to provide opportunities for local entities to try…

Gulf Canada's Russian joint venture

International Nuclear Information System (INIS)

Motyka, D.

1992-01-01

After three years of evaluating prospects and negotiating with government and industry representatives, Gulf Canada established its first joint venture in the Russian Federation with Komineft, a production association from the Komi autonomous republic. Komineft has a 50% share of the venture, and the rest is shared equally between Gulf and British Gas. The operating area is at the Vozey and Upper Vozey fields in the Timan-Pechora Basin, some 1,500 km northeast of Moscow just inside the Arctic Circle. An attractive feature of the Upper Vozey project is low development costs of ca $2/bbl. In the Vozey field, the venture will set up an enhanced oil recovery demonstration project to test techniques perfected in Alberta. About 60 Canadians are involved on the project, and headquarters are in Usinsk, ca 100 km south of the oil fields. In the first half of 1992, oil production in the first phase of the venture averaged around 10,000 bbl/d and continues to increase

Long-Run Effects of Public–Private Research Joint Ventures

DEFF Research Database (Denmark)

Kaiser, Ulrich; Kuhn, Johan Moritz

2012-01-01

Subsidized research joint ventures (RJVs) between public research institutions and industry have become increasingly popular in Europe and the US. We study the long-run effects of such a support scheme that has been maintained by the Danish government since 1995. To cope with identification...... problems we apply nearest neighbor matching and conditional difference-in-difference estimation methods. Our main findings are that (i) program participation effects are instant for annual patent applications and last for three years, (ii) employment effects materialize first after one year and (iii...

International New Venture Legitimation: An Exploratory Study

Directory of Open Access Journals (Sweden)

Romeo V. Turcan

2013-11-01

Full Text Available There is limited theoretical understanding and empirical evidence for how international new ventures legitimate. Drawing from legitimation theory, this study fills in this gap by exploring how international new ventures legitimate and strive for survival in the face of critical events during the process of their emergence. It is a longitudinal, multiple-case study research that employs critical incident technique for data collection, analysis, and interpretation. Following theory driven sampling, five international new ventures were selected that were operating in the software sector in the UK, and had internationalized and struggled for survival during the dotcom era. Grounded in data, this study corroborates a number of legitimation strategies yielded by prior research and refutes others. It further contributes to our understanding of international new venture legitimation by suggesting new types of legitimation strategies: technology, operating, and anchoring. Studying international new ventures through theoretical lenses of legitimation is a promising area of research that would contribute to the advancement of international entrepreneurship theory.

Founders hope new venture-capital fund will spur medical, biotechnology research

Science.gov (United States)

Gray, Charlotte

1995-01-01

Lack of a coherent industrial strategy and venture capital have hindered scientific researchers in Canada, but the Canadian Medical Discoveries Fund (CMDF) Inc. hopes to change that. Under the leadership of Dr. Henry Friesen, president of the Medical Research Council of Canada, and Dr. Calvin Stiller, head of the multiorgan transplant unit at University Hospital, London, Ont., the new fund proposes to invest in promising medical and biotechnology research companies in Canada. The research council's peerreview system gives the new fund scientific credibility.

What Determines Joint Venture Termination?

DEFF Research Database (Denmark)

Nielsen, Bo Bernhard

2012-01-01

Joint venture (JV) research continues to flourish as researchers seek to advance our understanding of why so many JVs fail. Cui and Kumar (this issue) take a contingency approach to explain how and why business relatedness may provide new insights as to what determines JV termination. This commen......Joint venture (JV) research continues to flourish as researchers seek to advance our understanding of why so many JVs fail. Cui and Kumar (this issue) take a contingency approach to explain how and why business relatedness may provide new insights as to what determines JV termination...

Raising venture capital in the biopharma industry.

Science.gov (United States)

Leytes, Lev J

2002-11-15

Raising venture capital (VC) is both an art and a science. Future entrepreneurs should carefully consider the various issues of VC financing that have a strong impact on the success of their business. In addition to attracting the best venture capital firms, these issues include such subtle but important points as the timing of financing (especially of the first round), external support sources, desirable qualities of a VC firm, amount to be raised, establishing a productive interface between the founders and the venture capitalists, and most importantly the effects of well-executed VC funding on hiring senior executives and scientific leaders.

Corporate Venturing

DEFF Research Database (Denmark)

Vintergaard, Christian

path of an entrepreneurial opportunity of the Danish corporate venture capitalist,Danfoss A/S. This paper distinguishes itself from previous research done on entrepreneurialopportunities by creating a holistic and conceptual framework, which broadens and expands theperception of the market participants...

How Korean Venture Capitals Invest In New Technology Ventures

Directory of Open Access Journals (Sweden)

Youngkeun Choi

2013-01-01

Full Text Available In the entrepreneurship field, this study examines what kinds of external endorsements are helpful for venture capitals investment and the growth of new technology ventures in developing countries. This study uses the signalling theory and the methodologies of multiple regression and survival analysis with the panel data of the ventures in Korea. In the results, collaboration with business groups and certification of government are positively influential in attracting venture capitals’ investment, which accelerate the growth of new technology ventures. The practical implication for entrepreneurs is that they need to obtain the endorsement from business groups and governments strategically.

Sustainable Venture Capital Investments: An Enabler Investigation

Directory of Open Access Journals (Sweden)

Elena Antarciuc

2018-04-01

Full Text Available Investing in sustainable projects can help tackle the current sustainability challenges. Venture capital investments can contribute significantly to the growth of sustainable start-ups. Sustainable venture capital (SVC research is just emerging. This paper identifies enablers for sustainable venture capital investments in Saudi Arabia taking into account different stakeholders and firm’s tangible and intangible resources. Using perspectives from venture capital experts in Saudi Arabia and the grey-based Decision-Making Trial and Evaluation Laboratory (DEMATEL method, this study pinpoints the most critical enablers and investigates their causal and effect interconnections. The methodological process consists of reviewing the SVC literature and consulting the experts to identify the SVC enablers, creating a questionnaire, acquiring the answers from four experts, analyzing the data with grey-based DEMATEL and performing a sensitivity analysis. The government use of international standards, policies and regulations for sustainable investments, the commitment of the venture capitalists to sustainability and their deep understanding of sustainable business models are the most influential enablers. The paper concludes with implications for different actors, limitations and prospective directions for the sustainable venture capital research.

Case : Google ventures

NARCIS (Netherlands)

Friesike, Sascha; Gassman, Oliver; Schweitzer, Fiona

2013-01-01

Google Ventures - the venture capital department of Google - couples the idea of a corporate incubator with the methods of a classical venture capital firm. A corporate incubator strives to create innovation, whereas a venture capital firm's idea is to create money. As such, corporate incubators

Entrepreneurial Learning, Heuristics and Venture Creation

OpenAIRE

RAUF, MIAN SHAMS; ZAINULLAH, MOHAMMAD

2009-01-01

After rigorous criticism on trait approach and with the emergence of behavioral approach in entrepreneurship during 1980s, the researchers started to introduce learning and cognitive theories in entrepreneurship to describe and explain the dynamic nature of entrepreneurship. Many researchers have described venture creation as a core and the single most important element of entrepreneurship. This thesis will discuss and present the role of entrepreneurial learning and heuristics in venture cre...

Private equity and venture capitalists' investment criteria in the Czech Republic

Directory of Open Access Journals (Sweden)

Marek Zinecker

2010-01-01

Full Text Available For investment decision making to be rational, the existence of investment criteria is required. In the theory of financial management, the effectiveness of investment is traditionally judged by the degree to which an investment proposal contributes to achieving the main financial goal of business, i.e. market value maximization of the firm.So far, potential businesses for Private Equity and Venture Capital financing in the Czech Republic have not had information regarding investment criteria and their significance, when considered by investors, at their disposal, which is due to absence of relevant research results.This article presents results of the research project whose aim is to establish which criteria are considered to perform an essential role in the selection of business proposals by firms investing Private Equity and Venture Capital in the Czech Republic as well as the most common reasons for rejecting the proposals. Based on practical experience of financing by Private Equity and Venture Capital, the research made it possible to identify the most significant criteria, namely characterization of mana­gement, market, product and the rate of investment capital appreciation. The results of the research are consequently compared with findings which were published in similar studies undertaken in the past (e.g. Tyebjee, Bruno, 1984; Fried, Hisrich, 1994; MacMillan et al., 1985, 1987; Muzyka et al., 1996; Eisele, 2002.The research supports the thesis that, when considering business proposals, above-average weight is attached to criteria concerning the characterization of management, i.e. experience and competencies in all stages of business life cycle. Nevertheless, the fulfilment of the criteria is not sufficient for investors to evaluate a business proposal positively. They also place an emphasis on selected criteria related to market and product. By publishing empirical data, an important signal regarding up-to-date evaluative criteria

STRATEGIES FOR NEW INTERNATIONAL VENTURES IN THE BRAZILIAN SUGARCANE INDUSTRY: THE CASE OF ETH BIONERGIA

Directory of Open Access Journals (Sweden)

Marina Carrilho Soares

2010-07-01

Full Text Available This study aims to identify cases of new international ventures in the Brazilian sugarcane industry, specifically as regards ethanol production, i.e., companies that are established from start to have an international profile. The paper explores the case of one such enterprise in the light of the theories addressed. In the last few years, a rising number of companies with this profile have appeared. This runs contrary to the main classical theories of internationalization, which present this process as evolutionary. As for the sugarcane industry, it has expanded considerably in recent years, which led many groups to invest in this segment. This study is a descriptive, qualitative piece of research and is based on the case study of a company recently established in this sector. Analyzing the chosen organization and comparing it to the studied theories, the authors concluded that there is, indeed, a type of organization with the profile of a new international venture. Key-words: Internationalization. New international ventures. Sugarcane industry. Brazil.

Passion Research: A Joint Venture To Interest High School Students in Chemistry.

Science.gov (United States)

Carriere, Francois J.; Abouaf, Madeleine

1997-01-01

Describes a joint venture between the Centre National de la Recherche Scientifique (CNRS) and the Department of Education in France that was created to allow students to do practical scientific work with the help of a CNRS researcher. Presents two practical projects done by students on organic polymers and on color. Concludes that this increases…

A Study on Strategy Establishment for Foreign Market Penetrating of Nuclear Technology Venture Business

Energy Technology Data Exchange (ETDEWEB)

Song, Ki Dong; Kim, S. S.; Choi, Y. D.; Park, C. S.; Bae, C. I.; Chung, J. M.; Roe, S. P

2007-05-15

The objective of this study is to suggest feasible strategy for foreign market penetration of nuclear venture technology business. Especially, this study focuses on the technology and product export to the Frankfurt-Hoechst Industrial Park in Germany. This study analyzed the operating system of German Industrial Park, especially the Frankfurt-Hoechst Industrial Park. This study also analyzed the current status of Industrial Science Parks in Northern European countries such as Finland, Sweden, and England. Then, this study suggested the strategy for nuclear technology venture business to penetrate German export market effectively.

A Study on Strategy Establishment for Foreign Market Penetrating of Nuclear Technology Venture Business

International Nuclear Information System (INIS)

Song, Ki Dong; Kim, S. S.; Choi, Y. D.; Park, C. S.; Bae, C. I.; Chung, J. M.; Roe, S. P.

2007-05-01

The objective of this study is to suggest feasible strategy for foreign market penetration of nuclear venture technology business. Especially, this study focuses on the technology and product export to the Frankfurt-Hoechst Industrial Park in Germany. This study analyzed the operating system of German Industrial Park, especially the Frankfurt-Hoechst Industrial Park. This study also analyzed the current status of Industrial Science Parks in Northern European countries such as Finland, Sweden, and England. Then, this study suggested the strategy for nuclear technology venture business to penetrate German export market effectively

The start-up processes of academic spin-offs and non-academic ventures

OpenAIRE

Roininen, Sari

2006-01-01

New and small firms are important for the national economic growth, and hence there is a growing interest among policy makers and researchers in understanding the start-up processes among new ventures in order to facilitate more new venture creations. Prior research addressing new ventures' start-up processes focus mainly on the individual behind the venture or different activities in the start-up process. The overall purpose of this study is to increase the understanding of new venture s...

Financing of Competing Projects with Venture Capital

OpenAIRE

Goldfain, Ekaterina; Kovac, Eugen

2005-01-01

We analyze innovation race in a moral hazard setting. We develop a model in which two competing entrepreneurs work independently on the same project. The entrepreneurs do not possess any wealth of their own and their research is financed by a venture capitalist. The project, if successful, generates a prize, which is to be shared between the winning entrepreneur and the venture capitalist. The venture capitalist cannot observe the allocation of funds he provides, which creates a moral hazard ...

The Entrepreneur's Mode of Entry: Business Takeover or New Venture Start?

OpenAIRE

Simon C. Parker; C. Mirjam van Praag

2006-01-01

We analyse the decision to become an entrepreneur by either taking over an established business or starting a new venture from scratch. A model is developed which predicts how several individual- and firm-specific characteristics influence entrepreneurs' entry mode. The new venture creation mode is associated with higher levels of schooling and wealth, whereas managerial experience, new venture start-up capital requirements and risk promote the takeover mode. Entrepreneurs whose parents run a...

The entrepreneur's mode of entry: business takeover or new venture start?

NARCIS (Netherlands)

Parker, S.C.; van Praag, M.

2012-01-01

We extend the well-known occupational choice model of entrepreneurship by analyzing the mode of entry. Individuals can become entrepreneurs by taking over established businesses or starting up new ventures from scratch. We argue that the new venture creation mode is associated with higher levels of

Multistage Effort and the Equity Structure of Venture Investment Based on Reciprocity Motivation

Directory of Open Access Journals (Sweden)

Chuan Ding

2015-01-01

Full Text Available For venture capitals, it is a long process from an entry to its exit. In this paper, the activity of venture investment will be divided into multistages. And, according to the effort level entrepreneurs will choose, the venture capitalists will provide an equity structure at the very beginning. As a benchmark for comparison, we will establish two game models on multistage investment under perfect rationality: a cooperative game model and a noncooperative one. Further, as a cause of pervasive psychological preference behavior, reciprocity motivation will influence the behavior of the decision-makers. Given this situation, Rabin’s reciprocity motivation theory will be applied to the multistage game model of the venture investment, and multistage behavior game model will be established as well, based on the reciprocity motivation. By looking into the theoretical derivations and simulation studies, we find that if venture capitalists and entrepreneurs both have reciprocity preferences, their utility would have been Pareto improvement compared with those under perfect rationality.

Factors related to the capital structure of small new ventures

NARCIS (Netherlands)

Harms, Rainer; Breitenecker, R.; Schwartz, E.J.; Wdowiak, M.A.

2012-01-01

In the literature, there exists evidence on the capital structure determinants for small ventures, but empirical research for new ventures is limited. We seek to address this gap by presenting a confirmatory analysis of determinants of capital structure of a sample of small new ventures in Austria.

Interorganizational imitation and acquisitions of high-tech ventures

OpenAIRE

Ozmel, Umit; Reuer, J. J.; Wu, Cheng-Wei

2017-01-01

Research summary: This article shows that there is a positive association between the changes in the number of prior acquisitions or the changes in the prominence of prior acquirers within the focal venture's subfield and the venture's likelihood to be acquired. Results are in line with the existence of frequency- and trait-based imitation in acquisitions targeting tech ventures. More importantly, these positive associations are more pronounced when (a) exogenous technological uncertainty wit...

International joint ventures

DEFF Research Database (Denmark)

Sørensen, Karsten Engsig

2001-01-01

The article analysis problems connected with corporate joint ventures. Among others the possible conflicts between the joint venture agreement and the statutes of the companies is examined, as well as certain problems connected to the fact that the joint venture partners have created commen control...... over their joint company....

Joint ventures

DEFF Research Database (Denmark)

Sørensen, Karsten Engsig

Afhandlingen analysere de konkurrenceretlige og selskabsretlige regler som er bestemmende for hvordan et joint venture samarbejde er struktureret......Afhandlingen analysere de konkurrenceretlige og selskabsretlige regler som er bestemmende for hvordan et joint venture samarbejde er struktureret...

A guide to organizing joint ventures with physicians.

Science.gov (United States)

Peters, G R

1986-12-01

Catholic health care facilities must consider the business and legal risks, canon law, and other constraints when planning a joint venture with physicians. Participants should first establish goals and compatibility, then determine the venture's type (property, service), form ("true," lease, contract), and structure (corporation, partnership, joint property ownership, trust). The administrator must decide whether the facility will participate directly in the venture or form a separate organization. Participants must determine their relationships with the venture, choosing among many options. The administrator should consider whether a venture raises any canon law issues, especially regarding ecclesiastical and secular assets, approval by the local bishop or Holy See, and need for consultation. Other pertinent legal issues include: Fraud and abuse. The venture should not appear as compensation to induce referrals. Physician referrals. Many states prohibit or restrict referrals by physician participants. Antitrust law. Participants may be liable for actions constituting on antitrust violation. Securities low. Organizers must clarify Securities and Exchange Commission registration exemptions and observe state "blue sky" laws. Tax issues. Catholic health care facilities must consider such factors as tax-exempt status, unrelated business income, taxable subsidiaries, and public charity status. Other considerations include tax ramifications for physicians; tax shelter registration; certificate of need (CON), licensing, and building standards; effects on reimbursement and pension plans; organizational and bond documents; corporate medical practice and fee-splitting questions; and labor and contractual issues.

Developing competitive advantage through startups and venture capital in emerging markets: A view from Israel.

Directory of Open Access Journals (Sweden)

Alexander Maune

2017-06-01

Full Text Available This article presents an examination of the emergence and co-evolution of startups and venture capital that led to the transformation of Israel into a Start-Up and Innovation Nation since its inception in 1948. Throughout, the co-evolution of startups and venture capital was considered a critical linkage between venture capital emergence and startup intensive cluster. The article also examined the three phased evolutionary model of 1969 to 2000. A discursive approach of related relevant literature was used. The study found out that the co-evolution of startups and venture capital, policy targeting and a network of a number of other factors as will be discussed in the three phased evolutionary model were critical to the emergence and change of the Israeli high-technology industry into a high-technology startup intensive industry. Israel has become the second largest world market for venture capital with more than 240 venture capitals since 1992. Israel has also become the lead in research and development attracting more than 270 multinational companies with more than 250 establishing research centers and employing over 108 000 in the country. The study also found that Israel leads other nations in per capita startups, engineers, scientists and technicians. This article will be critical for policy formulation and implementation especially in Emerging Markets. This article may lead to a shift in strategy in many emerging countries. This article will also help expand the academic knowledge by filling the existing gaps within the body of knowledge. Therefore, the article has academic, economic and policy value.

The Internationalization of Venture Capital: Challenges and Opportunities

OpenAIRE

Thomas Gstraunthaler; Galina Sagieva

2011-01-01

This paper attempts to summarize and systematize the landscape of the global venture capital industry. It presents major basic business models and investment strategies, assesses the contribution of venture capital (VC) to economic growth, and the incentives and constraints for VC’s development, and it identifies research gaps in this area. Venture capital is often regarded as the only source of support for start-ups, particularly for those in high-tech innovative sectors. The authors explore...

Forming a multinational joint venture

International Nuclear Information System (INIS)

Bhatia, N.K.; Garb, R.H.; Statton, T.D.

1990-01-01

This paper discusses the basis and mechanics for forming a multinational joint venture. The topics of the paper include the motivations for a joint venture, selection of the appropriate co-venturer, management of the multinational joint venture, and the joint venture agreement. The authors state that a joint venture is not applicable or desirable in all instances and to be successful, must be carefully planned

New venture creation as emerging interdependencies

DEFF Research Database (Denmark)

van Oorschot, Robin; Gottlieb, Frederik

2015-01-01

into an evocative and analytical direction which is rarely touched upon in the dominant literature on entrepreneurship. We illustrate the value of narrative research in enabling us to investigate what new venture creation is, from an involved participant perspective. We find interdependencies as enabling...... constraints between the persons involved in creating the new venture, paradoxically at the same time opening up and closing down opportunities, which affects the decision making....

Venture Investment Incentive Mechanisms and Simulation with Venture Entrepreneurs Having Multistage Efforts Based on Fairness Preference Theory

Directory of Open Access Journals (Sweden)

Kaihong Wang

2016-01-01

Full Text Available When venture capital has been invested into venture companies, venture capitalists and venture entrepreneurs form a principal-agent relationship. Take into account the fact that the venture entrepreneur’s effort is a long process, because the effort is not the same at different stage. Therefore, efforts variables are seen as the multistage dynamic variable, and venture investment principal-agent model with venture entrepreneurs having multistage efforts is constructed on the basis of the classic principal-agent theory in the paper. Further, in the later stage effort of venture entrepreneurs is affected by the size of prestage benefit with venture capitalists and venture entrepreneurs; thus the fairness preference model is improved, and venture investment principal-agent model with venture entrepreneurs having multistage efforts is constructed on the basis of fairness preference theory. Both theoretical derivation and simulation have demonstrated that, under the condition of information asymmetry, if the fairness preference of venture entrepreneurs holds, then (1 venture capitalists provide venture entrepreneurs with level higher than that without fairness preference, (2 in every single stage venture entrepreneurs make efforts higher than those without fairness preference, and (3 in two periods both venture investors and venture entrepreneurs gain total real gains higher than those in two periods without fair preference.

Using Venture Capital to Improve Army Research and Development

National Research Council Canada - National Science Library

Held, Bruce

2000-01-01

...) while keeping current equipment relevant and affordable. This issue paper introduces the idea that the Army should fund some of its technology development through a private venture capital organization...

Venture capital and internationalization

NARCIS (Netherlands)

Schertler, A.G.; Tykvova, T.

Cross-border investments represent a substantial share of venture capital activities. We use a comprehensive dataset on investments worldwide to analyze the internationalization of venture capital financing. We postulate that cross-border activity is shaped by macroeconomic factors in the venture

How to Create an Effective Venture Capitalist–Entrepreneur Relationship

Directory of Open Access Journals (Sweden)

Edmée van Dijk

2014-10-01

Full Text Available This study investigated the relationship between venture capitalists and entrepreneurs from an entrepreneur’s perspective. Its goal was to examine how perceived justice affects psychological contract breach (PCB and how PCB evokes reactions in the venture capitalist–entrepreneur relationship. The study was performed according to the grounded theory method. After a literature review, six entrepreneurs were interviewed who had founded a venture that received venture capital investment. Results indicate that distributive justice, formal procedures, informational justice, and interpersonal justice, among others, are important factors that can influence responses to the breach. This article discusses implications for both venture capitalists and entrepreneurs to make better decisions concerning ways to manage an effective relationship. In addition, a conceptual model is presented as a suggestion for future research.

Multistage Effort and the Equity Structure of Venture Investment Based on Reciprocity Motivation

OpenAIRE

Ding, Chuan; Chen, Jiacheng; Liu, Xin; Zheng, Junjun

2015-01-01

For venture capitals, it is a long process from an entry to its exit. In this paper, the activity of venture investment will be divided into multistages. And, according to the effort level entrepreneurs will choose, the venture capitalists will provide an equity structure at the very beginning. As a benchmark for comparison, we will establish two game models on multistage investment under perfect rationality: a cooperative game model and a noncooperative one. Further, as a cause of pervasive ...

The value captor's process: getting the most out of your new business ventures.

Science.gov (United States)

McGrath, Rita Gunther; Keil, Thomas

2007-05-01

The high failure rate among new business ventures is usually chalked up to the fundamental uncertainty of the process. In actuality, say McGrath and Keil, flawed ways of assessing and managing ventures may account for the disappointing amount of value they generate. Instead of taking the go/no-go approach, whereby a project either advances toward launch or is killed, decision makers should consider a range of alternatives: recycling the venture by aiming it at a new target market; spinning it off to other owners or a joint venture; spinning it in to an established business unit; or salvaging useful elements such as technologies, capabilities, knowledge, and patents. Firms that excel in value extraction--the "value captors" whose practices and mind-set this article explores--have created formal processes to systematically mine successes, failures, and everything in between. They know that a venture should be treated like a scientific experiment, in which learning plays a critical role. They are ready to seize new opportunities if a venture falters on its original course. They foster networks to promote cooperation and collaboration between established business leaders and venture teams and involve people from throughout the company in the venture review process. They don't allow financial criteria to dominate the reviews, and they recognize that the best people to launch a business may not be the ones who developed the idea. If your innovation pipeline is dry, your promising projects are being strangled for lack of a speedy payback, or someone else has made a fabulous business out of a slightly altered idea that you abandoned, consider the value captor's path.

Part I. Remembering No. 2 (Ladislav Loerinc). EMO joint venture, joint-stock company - really completely useless organ?

International Nuclear Information System (INIS)

Blaha, M.

2008-01-01

In this chapter author reviewed the story of the EMO joint venture, joint-stock company, between Slovenske elektrarne, a. s. and EdF. EMO joint venture, joint-stock company, was established to complete the Mochovce nuclear power plant. EMO joint venture, joint-stock company was closed after one year of work. History of EMO joint venture, joint-stock company, was described by its former general manager Mr. Ladislav Loerinc.

Instant Internationalization of Emerging Economy New Ventures

DEFF Research Database (Denmark)

Turcan, Romeo V.

2012-01-01

Being positioned and the intersection of international entrepreneurship and institutional theory, this study explores the process of instant internationalization of new ventures from emerging economies. It adopts a single-case study methodology, purposefully selecting an information-rich case where...... context of an emerging industry. Yet another set of contributions concerns the legitimation process of internationalization of a new venture from an emerging economy. A number of propositions are put forward to guide future research....... the phenomenon is manifested intensely, but not extremely. A family-owned venture located in Moldova that is in the business of processing fruit and vegetables was selected for this study. It started up in 2000 and from its inception the sales from exports grew almost 120% per year. Data collection took place...

How venture capital works.

Science.gov (United States)

Zider, B

1998-01-01

The popular mythology surrounding the U.S. venture-capital industry derives from a previous era. Venture capitalists who nurtured the computer industry in its infancy were legendary both for their risk taking and for their hands-on operating experience. But today things are different, and separating the myths from the realities is crucial to understanding this important piece of the U.S. economy. Today's venture capitalists are more like conservative bankers than the risk takers of days past. They have carved out a specialized niche in the capital markets, filling a void that other institutions cannot serve. They are the linch-pins in an efficient system for meeting the needs of institutional investors looking for high returns, of entrepreneurs seeking funding, and of investment bankers looking for companies to sell. Venture capitalists must earn a consistently superior return on investments in inherently risky businesses. The myth is that they do so by investing in good ideas and good plans. In reality, they invest in good industries--that is, industries that are more competitively forgiving than the market as a whole. And they structure their deals in a way that minimizes their risk and maximizes their returns. Although many entrepreneurs expect venture capitalists to provide them with sage guidance as well as capital, that expectation is unrealistic. Given a typical portfolio of ten companies and a 2,000-hour work year, a venture capital partner spends on average less than two hours per week on any given company. In addition to analyzing the current venture-capital system, the author offers practical advice to entrepreneurs thinking about venture funding.

Success factors in new ventures : A meta-analysis

NARCIS (Netherlands)

Song, Michael; Podoynitsyna, Ksenia; van der Bijl, H.M.; Halman, Johannes I.M.

2008-01-01

Technology entrepreneurship is key to economic development. New technology ventures (NTVs) can have positive effects on employment and could rejuvenate industries with disruptive technologies. However, NTVs have a limited survival rate. In our most recent empirical study of 11,259 NTVs established

Success factors in new ventures : a meta-analysis

NARCIS (Netherlands)

Song, Michael; Podoynitsyna, K.S.; Bij, van der J.D.; Halman, J.I.M.

2008-01-01

Technology entrepreneurship is key to economic development. New technology ventures (NTVs) can have positive effects on employment and could rejuvenate industries with disruptive technologies. However, NTVs have a limited survival rate. In our most recent empirical study of 11,259 NTVs established

Does Venture Capital Spur Innovation?

OpenAIRE

Samuel Kortum; Josh Lerner

1998-01-01

While policymakers often assume venture capital has a profound impact on innovation, that premise has not been evaluated systematically. We address this omission by examining the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred venture capital fundraising. We find that the amount of venture capital activity in an indust...

The impact of joint ventures on U.S. hospitals.

Science.gov (United States)

Harrison, Jeffrey P

2006-01-01

This quantitative research study assesses the organizational characteristics, market factors, and profitability of US hospitals that operate joint ventures with other health care organizations. Data was obtained from the 2001 American Hospital Association annual survey, the Area Resource File, and the Center for Medicare and Medicaid Services Minimum Data Set. These data files provide essential information on individual acute care hospitals, the communities they serve, and the level of financial performance. Descriptive statistics were evaluated and a logistic regression model was utilized to examine hospitals operating joint ventures. The study found hospitals that operate joint ventures are located in communities with more elderly patients, lower unemployment, and lower HMO penetration. From an operating performance perspective, hospitals that operate joint ventures have a higher occupancy rate, a higher average length of stay, more clinical services, lower long-term debt, and a greater number of managed care contracts. The results also appear to indicate that joint ventures have a positive financial impact on US hospitals. The study has managerial implications supporting the use of joint ventures to improve hospital performance and policy implications on resource allocation.

75 FR 14190 - Notice Pursuant to the National Cooperative Research and Production Act of 1993-Joint Venture To...

Science.gov (United States)

2010-03-24

... Production Act of 1993--Joint Venture To Perform Project Entitled Robotic Rehabilitation of Aging Water... Cooperative Research and Production Act of 1993, 15 U.S.C. 4301 et sect. (``the Act''), Joint [[Page 14191

United States -- Mexican joint ventures: A case history approach

Energy Technology Data Exchange (ETDEWEB)

Moore, N.L.; Chidester, R.J.; Hughes, K.R.; Fowler, R.A.

1993-03-01

Because the Mexican government has encouraged investment in Mexico by increasing the percentage of ownership of a Mexican business that a US company can hold, joint ventures are more attractive now than they had been in the past. This study provides preliminary information for US renewable energy companies who are interested in forming a joint venture with a Mexican company. This report is not intended to be a complete reference but does identifies a number of important factors that should be observed when forming a Mexican joint venture: (1)Successful joint ventures achieve the goals of each partner. (2)It is essential that all parties agree to the allocation of responsibilities. (3)Put everything in writing. (4)Research in depth the country or countries in which you are considering doing business.

Investment Timing for New Business Ventures

OpenAIRE

George W. Blazenko; Andrey D. Pavlov

2010-01-01

A key requirement for the start of many entrepreneurial businesses is private equity or venture capital financing. In the traditional approach to entrepreneurial investment analysis, an entrepreneur starts a new venture and a venture capitalist finances the new venture when business return exceeds the financial opportunity cost for comparable risk the cost of capital for the new venture. The real options literature recommends that entrepreneurs delay business start due to investment irreversi...

The relationship between motives of entrepreneurial behavior and venture maturity

Directory of Open Access Journals (Sweden)

Bobera Dušan

2017-01-01

Full Text Available Countries at a different level of development exhibit a variety of entrepreneurial initiatives and activities in terms of motives of entrepreneurial behavior, but also the scope and structure of entrepreneurial ventures. The aim of this paper is to explore the relationship between the degree of economic development and the motives of entrepreneurial behavior. In order to perform a more detailed overview of the research subject, the research area expands on the scope and structure of entrepreneurial activity, with the aim of identifying the impact of the motives of entrepreneurial behavior on the entrepreneurial process observed in its phases. Characteristics of selected variables and the size of the research sample conditioned the usage of the Spearman's correlation coefficient and the Chi-square test. The results indicate a positive correlation between the level of economic development and opportunity motive of entrepreneurial ventures. This motive is also found to be a generator of maturity of entrepreneurial ventures. More specifically, the higher percentage of participation of the entrepreneurial ventures with opportunity motive is associated with a higher percentage of enterprise in more mature stages, which is especially reflected in the group of highly developed countries.

ACTUAL TRENDS IN THE DEVELOPMENT OF VENTURE INVESTMENT IN RUSSIA

Directory of Open Access Journals (Sweden)

K. P. Aleksandrova

2014-06-01

Full Text Available Relevance of research topic is related to the significant influence of the venture capital industry on the Russian economy. Innovative development of our country depends mainly on the effective commercialization of research and development, but the technology companies access to financial resources is a key factor in the innovation process . Venture capital plays a major role in this respect: it provides a fast and timely financial support to local entrepreneurs breakthrough ideas and enhances the competitiveness of the Russian economy as a whole. Objective - Analysis of Venture Investment in Russia , identifying issues and current trends in development. In the process, a set of methods has been applied economic and statistical analysis: methods of synthesis, comparison and analysis of economic and statistical information. In the study, it was determined that the current Russian venture market is characterized by an increase in the number of venture capital funds and private equity funds, as well as increasing their capitalization; an increasing number of companies financed, but about 90 % of all investments allocated for funding mature companies and only 10 % - for companies at the venture development stages; Central Federal District continues to firmly hold the leadership of the share of the total investment of all federal districts . Identified the following problems: lack of funding companies in the initial stages of development, infrastructure venture industry, inadequate legislation and taxation system , the problems associated with the protection and registration of intellectual property, the problem of lack of professional management, the lack of a well-functioning stock market, high-tech industries unattractive for investment.Purchase on Elibrary.ru > Buy nowDOI: http://dx.doi.org/10.12731/2070-7568-2014-3-5

12 CFR 347.107 - Joint ventures.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Joint ventures. 347.107 Section 347.107 Banks... INTERNATIONAL BANKING § 347.107 Joint ventures. (a) Joint ventures. If a bank, directly or indirectly, acquires or holds an equity interest in a foreign organization that is a joint venture, and the bank or its...

Joint ventures are seen as a way to increase returns on under performing assets. How are they doing?

International Nuclear Information System (INIS)

Stanway, D.M.

1998-01-01

The challenges faced by the petroleum industry in establishing successful joint ventures are discussed. Good management practices are cited as one of the most important factors in ensuring the success of joint ventures. There are several reasons why companies pursue joint ventures. They often search for the competitive advantages that can arise from rationalization of operations and facilities, consolidation of management tasks and new opportunities for technological innovation. Joint ventures also allow companies to spread risk, get more capital and improve collective competencies. The importance for Canadian companies to make greater efforts at improving their international joint ventures, was emphasized. An 'alliance building capacity' to manage joint ventures was recommended. 18 refs., 3 figs

The Influence of Financial 'Skin in the Game' on New Venture Creation

DEFF Research Database (Denmark)

Frid, Casey J.; Wyman, David M.; Gartner, William B.

2015-01-01

A common theme in entrepreneurship research is that the founder must be committed inorder for a new venture to succeed. Although investments of time and sweat equity can indicatecommitment, external stakeholders may prefer founders who have made a significant, personalfinancial stake in their nas......A common theme in entrepreneurship research is that the founder must be committed inorder for a new venture to succeed. Although investments of time and sweat equity can indicatecommitment, external stakeholders may prefer founders who have made a significant, personalfinancial stake...... in their nascent ventures. This personal financial commitment is known as “skinin the game.” Founders that invest more of their own money into their ventures signal greater commitment to potential business partners, suppliers, and resource providers.This studyexamines the amount of personal funds invested by 1...

Campus/Industry Joint Ventures.

Science.gov (United States)

McDonald, Eugene J.

1985-01-01

Opportunities for joint economic ventures of colleges and industry are discussed, and a variety of ventures undertaken by Duke University are outlined, including a health club, hotel, and office building. Tax and financing considerations are noted. (MSE)

Private equity and venture capital: investment fund structures in the Czech Republic

Directory of Open Access Journals (Sweden)

Marek Zinecker

2011-01-01

Full Text Available A working private equity and venture capital market (PE/VC market stimulates the business environment in a positive manner and impacts the level of economic growth of national economies. A study of the Austrian Private Equity and Venture Capital Organisation/AVCO (2004, p. 6 defines prerequisites for a correct operation of the PE/VC market. It views the legislative provision for suitable legal fund structures for PE/VC investments and their tax treatment as a key factor. In its publication, Private Equity & Venture Capital in the Czech Republic (2010, p. 14, the Czech Venture Capital Association/CVCA stresses that legal barriers are an important reason behind the limited scope of resources available to domestic PE/VC funds. Legal barriers prevent the establishment of a standard PE/VC fund in the territory of the Czech Republic, which fact in turn has a negative impact on the level of development of the domestic PE/VC market (fundraising, investment volumes, establishment of the infrastructure required for the operation of PE/VC funds. The purpose of this article is, based on an analysis of the relevant information sources, to assess how the current Czech legislation regulates the legal fund structures for PE/VC investments and their tax treatment. Proposals for a potential improvement of the situation are based on a comparison of the legislative framework applicable in the Czech Republic and the requirements defined by the European Venture Capital Association/EVCA, as well as the AVCO study (2004, 2006.

75 FR 20002 - Notice Pursuant to the National Cooperative Research and Production Act of 1993 Joint Venture...

Science.gov (United States)

2010-04-16

... Production Act of 1993 Joint Venture Under Tip Award Number: 7ONANB1OHOO1 Notice is hereby given that, on..., 15 U.S.C. 4301 et seq. (``the Act''), the Joint Venture under TIP Award Number: 7ONANB1OHOO1... Trade Commission disclosing (1) the identities of the parties to the venture and (2) the nature and...

Development trends of the venture capital financing institution: spaciotemporal profile

Directory of Open Access Journals (Sweden)

T. I. Volkova

2010-09-01

Full Text Available The article describes the results of the research of development and performance features of the venture capital financing institution in leading countries as well as in Russia and in its regions. A number of main trends in venture financing in accordance with the level of innovation process` development abroad and in our country are emphasized, first of all by stages of support of scientific and technological developments and projects. Positive trends and contradictions in development of venture capital financing institution in Russia and its regions are revealed. Main directions of activation of venture financing process are systematized in accordance with the requirements of the Concept of long-term social-economic development of the Russian Federation till 2020 and the Strategy of social-economic development of the Sverdlovsk region until 2020.

75 FR 14192 - Notice Pursuant to the National Cooperative Research and Production Act of 1993-Joint Venture...

Science.gov (United States)

2010-03-24

... Production Act of 1993--Joint Venture Under Tip Award No. 70NANB10H014 To Perform Project Entitled: Automated..., 15 U.S.C. 4301 et seq. (the Act''), the Joint Venture under TIP Award No. 70NANB10H014 to Perform... Commission disclosing (1) the identities of the parties to the venture and (2) the nature and objectives of...

75 FR 7628 - Notice Pursuant to the National Cooperative Research and Production Act of 1993-Joint Venture...

Science.gov (United States)

2010-02-22

... Production Act of 1993--Joint Venture Under TIP Award Number: 70NANB10H012 Notice is hereby given that, on..., 15 U.S.C. 5 4301 et seq. (``the Act''), the Joint Venture under TIP Award Number: 70NANB10H012... Commission disclosing (1) the identities of the parties to the venture and (2) the nature and objectives of...

75 FR 8116 - Notice Pursuant to the National Cooperative Research and Production Act of 1993-Joint Venture...

Science.gov (United States)

2010-02-23

... Production Act of 1993--Joint Venture Under Tip Award No. 70NANB10H009 Notice is hereby given that, on..., 15 U.S.C. 4301 et seq. (``the Act''), the Joint Venture under TIP Award No. 70NANB10H009 (``JV TIP... Commission disclosing (1) the identities of the parties to the venture and (2) the nature and objectives of...

Overview of physician-hospital ventures.

Science.gov (United States)

Cohn, Kenneth H; Allyn, Thomas R; Rosenfield, Robert H; Schwartz, Richard

2005-01-01

An ongoing environment of reimbursement lagging behind escalating expenses has led physicians to explore new sources of revenue. The goal of physician-hospital ventures is to create a valuable entity that benefits patients, physicians, and the hospital. Physicians may choose to invest in healthcare facilities to improve patient care and obtain increased control over daily operations. If so, they should seek counsel to avoid violating Stark laws and anti-kickback laws. Modalities for investing in physician-hospital ventures are joint equity (stock) ventures, participating bond transactions (PBTs), and contractual integration, a new method to align the goals of specialists and hospital management without using joint equity ventures. Physicians and management should invest time in developing a shared vision of the future before beginning contract negotiations. Successful partnering requires transparency and stepwise building of trust. The greatest gain in joint ventures arises when both sides become active owners, rather than passive investors.

How does venture capital operate in medical innovation?

Science.gov (United States)

Lehoux, P; Miller, F A; Daudelin, G

2016-07-01

While health policy scholars wish to encourage the creation of technologies that bring more value to healthcare, they may not fully understand the mandate of venture capitalists and how they operate. This paper aims to clarify how venture capital operates and to illustrate its influence over the kinds of technologies that make their way into healthcare systems. The paper draws on the international innovation policy scholarship and the lessons our research team learned throughout a 5-year fieldwork conducted in Quebec (Canada). Current policies support the development of technologies that capital investors identify as valuable, and which may not align with important health needs. The level of congruence between a given health technology-based venture and the mandate of venture capital is highly variable, explaining why some types of innovation may never come into existence. While venture capitalists' mandate and worldview are extraneous to healthcare, they shape health technologies in several, tangible ways. Clinical leaders and health policy scholars could play a more active role in innovation policy. Because certain types of technology are more likely than others to help tackle the intractable problems of healthcare systems, public policies should be equipped to promote those that address the needs of a growing elderly population, support patients who are afflicted by chronic diseases and reduce health disparities.

The joint venture alternative to mergers.

Science.gov (United States)

Enders, R J

1995-02-01

However, while a joint venture may be "safe" from antitrust challenge, it is not without some practical difficulties, especially with respect to consolidating services at one location or jointly offering services provided at multiple facilities. These practical concerns include: 1. Who will exercise operational management of the joint venture? 2. How will the joint venture deal with different pricing for services that will be provided at multiple locations? 3. What criteria will be used to decide the location at which consolidated tertiary services will be offered? 4. In what circumstances can the joint venture be unwound, either in its entirety or as to discrete functions? When clinical services have been consolidated at one location, there is an appropriate concern by the other hospital that it will be unable to provide or re-enter the market for those services if the joint venture dissolves. These operational concerns, of course, are not addressed in the Consent Decree. Thus, even if a joint venture relationship survives antitrust scrutiny, the parties must still negotiate and resolve these operational issues in order for the joint venture to be viable.

MMV: New Medicines for Malaria Venture.

Science.gov (United States)

1999-02-01

New Medicines for Malaria Venture (MMV) is a public/private, nonprofit initiative to develop 1 new drug against malaria every 5 years. It will operate under the umbrella of Roll Back Malaria, a new project launched by World Health Organization (WHO) Director General, Dr. Gro Harlem Brundtland. The UNDP/World Bank/WHO Special Program for Research and Training in Tropical Diseases (TDR) helped establish the MMV through its product R&D unit, and there has been considerable industrial input. The World Bank and the Global Forum for Health Research are other international agencies involved in the initiative, while several philanthropic organizations such as the Rockefeller Foundation and the Wellcome Trust have also played major roles. MMV will create a fund and operate by financing and resourcing a limited number of projects in a manner compatible with industrial procedures. The fund is mainly supported financially by the public sector, while a funding commitment of US$15 million/year rising to US$30 million a year is being sought. Companies are providing mainly in-kind support.

15 CFR 296.8 - Joint venture agreement.

Science.gov (United States)

2010-01-01

... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Joint venture agreement. 296.8 Section... PROGRAM General § 296.8 Joint venture agreement. NIST shall not issue a TIP award to a joint venture and no costs shall be incurred under a TIP project by the joint venture members until such time as a...

Multistage Selection and the Financing of New Ventures

OpenAIRE

Jonathan T. Eckhardt; Scott Shane; Frédéric Delmar

2006-01-01

Using a random sample of 221 new Swedish ventures initiated in 1998, we examine why some new ventures are more likely than others to successfully be awarded capital from external sources. We examine venture financing as a staged selection process in which two sequential selection events systematically winnow the population of ventures and influence which ventures receive financing. For a venture to receive external financing its founders must first select it as a candidate for external fundin...

22 CFR 228.34 - Joint ventures.

Science.gov (United States)

2010-04-01

... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Joint ventures. 228.34 Section 228.34 Foreign Relations AGENCY FOR INTERNATIONAL DEVELOPMENT RULES ON SOURCE, ORIGIN AND NATIONALITY FOR COMMODITIES AND... Financing § 228.34 Joint ventures. A joint venture or unincorporated association is eligible only if each of...

Effective Heuristics for New Venture Formation

NARCIS (Netherlands)

Kraaijenbrink, Jeroen

2010-01-01

Entrepreneurs are often under time pressure and may only have a short window of opportunity to launch their new venture. This means they often have no time for rational analytical decisions and rather rely on heuristics. Past research on entrepreneurial heuristics has primarily focused on predictive

Opportunity recognition and international new venture creation in University spin-offs

DEFF Research Database (Denmark)

Hannibal, Martin; Evers, Natasha; Servais, Per

2016-01-01

Extant research suggests that the founder’s activities and interactions are considered pivotal in driving the opportunity recognition process leading to international new venture emergence. This paper aims to explore the opportunity recognition process and international new venture emergence...... in the context of university high-technology spin-offs that are internationally market driven from inception. University spin-offs (USOs) are defined as ‘new firms created to exploit commercially some knowledge, technology or research results developed within a university’ (Pirnay et al., Small Bus Econ 21...... that the inventor-founders are typically engaged in opportunity recognition processes that are characterized as creative, driven by scientific innovations. It is indicated that the process of USO emergence and continuous development involves activities and interactions similar to typical international new ventures...

An evaluation of charity care for tax-exempt hospitals engaging in joint ventures.

Science.gov (United States)

Smith, Pamela C

2006-01-01

The study examines whether the level of charity care and financial stability contribute to a nonprofit hospital's motivation for partnering with a for-profit hospital through a joint venture. The Internal Revenue Service (IRS) has heightened its scrutiny of joint ventures within the health care sector. Considering recent calls to investigate the merit of the tax-exempt status of hospitals engaged in joint ventures, this research will assist policy makers in the evaluation of nonprofit hospitals. Constituents will continue to question whether joint ventures contribute to a reduced focus on charitable activities. Results indicate that the propensity to engage in a joint venture significantly increases with increased levels of charity care. Furthermore, nonprofit hospitals with lower profitability are more likely to engage in joint ventures. These results are useful to policy makers when evaluating the level of charity care provided by hospitals seeking alternative strategic alliances. Considering many critics allege hospitals are reducing the provision of charity care to the community, it is imperative for management to be conscious of the impact of joint ventures on the provision of charity care.

Russian upstream joint ventures logging progress

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports that Occidental Petroleum Corp. has begun exporting oil from Russia as part of an enhanced recovery joint venture in western Siberia. Oxy holds a 50% interest in the joint venture company, Vanyoganneft, and will market the oil. In other activity, two Canadian companies are marking progress with Russian upstream joint ventures

GOVERNMENT INTERVENTIONS IN THE VENTURE CAPITAL MARKET HOW JEREMIE AFFECTS THE HUNGARIAN VENTURE CAPITAL MARKET?

OpenAIRE

Fazekas Balazs

2014-01-01

JEREMIE (Joint European Resources for Micro to Medium Enterprises) program was implemented as a part of the EU cohesion policy in the framework of 2007-2013 programming period. The primary objective of the program was to enhance the financing prospects of SME’s through structural funds that provide financial engineering instruments like loan, guarantee and venture capital. This paper focuses on the effects of JEREMIE on Hungary’s venture capital market. Since 2010, 28 JEREMIE backed venture c...

Structuring oil and gas joint ventures with aboriginal communities: conference papers conference

International Nuclear Information System (INIS)

1999-01-01

The Insight Conference featured twelve articles on the following topics: 1 - researching and understanding your legal partners; II - an aboriginal game plan - a plan for success; III - legal and management issues relating to aboriginal ventures; IV - tax status of reserve-based aboriginal people and businesses under the Indian Act; v - first nations as exempt bodies under the Income Tax Act; V I - innovative options for structuring oil and gas leases and exploration permits on aboriginal lands; VII - joint venture and partnership arrangements; V III - the impact of taxation on aboriginal ventures; I X - bankruptcy and insolvency issues for on-reserve businesses; X - financing options for oil and gas ventures with first nations; XI - Syncrude's commitment to aboriginal development; and X II - structuring oil and gas ventures with aboriginal communities. Articles abstracted/indexed separately include: I, II, V I (2), V III, X, XI, and X II

Joint venture schemes in Limpopo Province and their outcomes on smallholder farmers livelihoods

Science.gov (United States)

Mapedza, Everisto; van Koppen, Barbara; Sithole, Pinimidzai; Bourblanc, Magalie

2016-04-01

Joint Venture schemes based on the floppy irrigation technology are being promoted in the post-Apartheid South Africa's Limpopo Province. Access to land and water resources in South Africa are largely viewed as a mechanism for re-dressing the Apartheid injustices. This research was part of a broader applied research to help inform irrigation practise in the Limpopo Province. The research used literature review, key informant interviews and a questionnaire survey. The overall research question sought to understand how the Joint Venture Schemes had benefited the smallholder farmers. This paper argues that the joint venture partnership created a new injustice. Firstly, the Joint Venture Scheme design is fundamentally a bad idea which disempower farmers not only to water access but also land as well. The choice of the 'efficient' floppy irrigation technology was made by the state and entailed that land had to be managed as a single unit. In order to make more effective use of this highly sophisticated new technology, the smallholder farmers also needed to go into a joint venture partnership with a white commercial farmer. By virtue of signing the Joint Venture agreement the farmers were also forfeiting their land and water rights to be used for crop production. The smallholder farmers lost access to their water and land resources and were largely relegated to sharing profits - when they exist - with hardly any skills development despite what was initially envisaged in the Joint Venture partnership. Secondly, the implementation of the JVS has been skewed from the start which explains the bad results. This paper further shows how the negative outcomes affected women in particular. As the smallholder farmers argue the technological options chosen by the state have excluded both male and female farmers from accessing and utilising their land and water resources in order to improve their livelihoods; it has entrenched the role of the state and the private interests at the

Mudaraba-Venture Capital Closed-end Mutual Funds and Mudaraba-Venture Capital Open-end Mutual Funds

OpenAIRE

Halil Ibrahim Bulut

2008-01-01

The important part of this study attempts to explain that both venture capital and interest-free financing are based on similar ground, if not the same. Two new models called Mudaraba-Venture Capital Closed-End Mutual Funds and Mudaraba-Venture Capital Open-End Mutual Funds, based on both the similarities and the needs of financial innovation in the interest-free financing system, are detailed. It is believed that the development of these two models could make some improvements not only in th...

Internationale joint ventures - udvalgte selskabsretlige problemstillinger

DEFF Research Database (Denmark)

Sørensen, Karsten Engsig

2001-01-01

Artiklen behandler en række problemstillinger som er særlige for joint ventures stiftet i selskaber af aktie-, anpartsselskabstypen. Bl.a. behandles en række problemer omkring joint venture aftalens forhold til selskabets vedtægter samt en række problemstillinger knyttet til det forhold at der er...... etableret fælles kontrol over joint venture selskabet....

CAPITAL STRUCTURE AND VENTURE CAPITAL

Directory of Open Access Journals (Sweden)

Becsky-Nagy Patricia

2015-07-01

Full Text Available Venture capital significantly changes the capital structure of the portfolio company at the time of the investment. Venture capitalists contribute to the company’s success through their active involvement in the management and their added value appears in the increase of the value of the equity. At the same time with taking active role in the management, agency problem occurs, that complicates the cooperation and the success of exit. In this article we search the answer for the question whether the preferred equity, that are commonly used in the US for bridging the agency problem, are used and able to help Hungarian venture capitalists to manage agency problems. On the other hand we examined how the venture capital affect capital structure, how the venture capitalists value added appear in the capital structure. During the evaluation of the three case studies, we came to the conclusion, that the venture capital investments have positive effect on the liabilities of the enterprises, as the capital structure indexes show. However, the investors need the ownership, which help them to step up resolutely, when things change for the worse, and companies need the expertise, which the investors bring with their personal assistance. The investor’s new attitude also has positive effect on a mature company, which has an experienced leader, because he can show another aspect, as a person who come from outside. During the examination of the capital structure, we cannot disregard the events of the company’s environment, which have effects on the firm. The investor’s decisions also appear different ways. Because of this, every venture capital investment is different, just as the capital structure of the firms, in which they invest.

NEW VENTURE CREATION: HOW START-UPS GROW?

Directory of Open Access Journals (Sweden)

AIDIN SALAMZADEH

Full Text Available ABSTRACT Start-ups, often seen as sources of innovation and change, are prone to failure and accordingly they are attracting considerable attention not least from policy makers and Government officials. However, the various new venture creation studies that have emerged since the early 1980s lack cohesiveness, and the domain remains controversial. This article not only exposes the limitations of the existing body of understanding on the topic but attempts to develop a more comprehensive and comprehendible framework for start up (new venture creation. To do so it uses the frameworks proposed by Whetten, and March and Smith to develop 11 propositions. The resultant model suggests that the creation of a start up involves the identification of an idea or opportunity by an entrepreneur who subsequently organizes a series of activities, mobilizes resources and creates competence using his/her networks in an environment in order to create value. It sheds light on the start-up (new venture creation process and has relevance for entrepreneurs, policy makers and researchers.

Feasibility Study of the Department of the Navy Investing Research and Development Funds in Venture Capital Firms as a Means to Identify Technology

Science.gov (United States)

2005-12-01

Kortum , and Josh Lerner , "Assessing the contribution of Venture Capital to Innovation," Rand Journal of Economics (2000), 28 Oct. 2005...Joshua Lerner , The Venture Capital Cycle, Cambridge Mass: MIT Press, 1999. 8 Venture Impact 2004, Arlington, VA: Global Insight, 2005, Venture Capital ...liability position.18 15 National Venture Capital Association Yearbook, New York: Thomson Venture Economics Information, 2005. 16 Samuel

Business Plans in New Ventures : An Institutional Perspective

OpenAIRE

Karlsson, Tomas

2005-01-01

This thesis is about business plans in new ventures. It takes an institutional perspective with a particular focus on how external actors influence ventures through norms, regulations and way of thinking. Through an intensive study of six new ventures at a business incubator, and a structured, computer-aided analysis, this study probes the following questions: How are new ventures influenced to write business plans, and what sources influence them? What strategies do new ventures use to deal ...

JOINT VENTURE UM ARCABOUÇO TEÓRICO SOBRE A ESTRATÉGIA ENTRE EMPRESAS

Directory of Open Access Journals (Sweden)

Kelen Renata Knopp Barroca Souza

2015-03-01

Full Text Available The joint venture talk about union of two or more business with common goals forming another independent business with a different team for take care about your own concern, that may partner member's capital or not. The present work had as goal: analyse the reasons that are influencing many business to choose joint venture, your importance for them, and the obtained results. the methodology used was the multicases study of business that adopt join ventures from analysis of documents, files, and administrative publications, and also having secondary sources as bibliographic researches consulting articles and books about the history of the subject, adopting the deductive method for the conclusion of joint venture project. We conclude that joint ventures can be advantageous for business, decreasing risks, increasing profits , making business involved in the alliance earn more space on market.

Venture Capital and Innovation Strategies

NARCIS (Netherlands)

Da Rin, M.; Penas, M.F.

2015-01-01

Venture capital is a specialized form of financial intermediation that often provides funding for costly technological innovation. Venture capital firms need to exit portfolio companies within about five years from the investment to generate returns for institutional investors. This paper is the

THE IMPORTANCE OF STATE’S ROLE IN THE HUNGARIAN VENTURE CAPITAL MARKET

Directory of Open Access Journals (Sweden)

Jenő Konecsny

2011-07-01

Full Text Available The presence of state also has an indirect and direct effect on the developement of the Hungarian venture capital market. Indirect effect is realized through the law legislation and the direct one by the operate of the different venture capital firms and funds which invest public financial sources. The main purpose of the direct intervention is to finance the under-capitalized small and medium-sized start-up companies with equity. The paper examines the Hungarian venture capital market from the aspect of state intervention. It starts with an European overview which summarizes the common and different attributes of state’s role in the venture capital market between several European countries. The paper focuses on the Hungarian situation, it describes concisely the effect and efficiency of the governmental instructions which were taken for the legislation of the venture capital market. Using the results of a previous research the paper also examines the characteristics of the direct instructions. The paper decribes briefly the main details of the publicprivate initiative called JEREMIE-program, which started on the Hungarian venture capital market in the recent past.

Venture Capitalists in Systems of Innovation

DEFF Research Database (Denmark)

Munk, Kasper B.; Vintergaard, Christian

regional innovation systems.In attempt to locate and determine the potentials and importance of the venture capitalists in the innovationsystem a two-dimensional taxonomy is constructed and used to illuminate their role and position. Thetaxonomy gains insights through theoretical reasoning and the possible...... initiatives to be taken to raise venture capitalists to a more direct and formal role in the contextof systems of innovation.Key words: Venture capital, innovation systems, innovation....

15 CFR 295.25 - Special rule for the valuation of transfers between separately-owned joint venture members.

Science.gov (United States)

2010-01-01

... transfers between separately-owned joint venture members. 295.25 Section 295.25 Commerce and Foreign Trade...-Led Joint Research and Development Ventures § 295.25 Special rule for the valuation of transfers between separately-owned joint venture members. (a) Applicability. This section applies to transfers of...

Financial bootstrapping use in new family ventures and the impact on venture growth

OpenAIRE

Helleboogh, David; LAVEREN, Eddy; LYBAERT, Nadine

2010-01-01

This paper contributes to the general knowledge of bootstrap financing among new family ventures in two ways. Firstly, this research reveals which human capital characteristics of the owner-manager has an impact on financial bootstrapping use. The empirical results indicate that the use of bootstrapping techniques does not depend upon the family's business founder's education, but that it is a skill which is absorbed from self-employed parents or during the founder's prior work and management...

Venture Capital and Innovation Strategies

NARCIS (Netherlands)

Da Rin, Marco; Penas, Maria

2015-01-01

Venture capital investors are specialized financial intermediaries that provides funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company’s choice of innovation strategies.

Venture capital and innovation strategies

NARCIS (Netherlands)

Da Rin, Marco; Penas, Fabiana

2017-01-01

Venture capital investors are specialized financial intermediaries that provide funding for technological innovation with the goal of realizing a capital gain within a few years. We are the first to examine the association of venture capital funding with a company's choice of innovation strategies.

15 CFR 296.7 - Joint venture registration.

Science.gov (United States)

2010-01-01

... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Joint venture registration. 296.7 Section 296.7 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL... PROGRAM General § 296.7 Joint venture registration. Joint ventures selected for assistance under the...

Venture Capitalist Enabled Entrepreneurial Mentoring

DEFF Research Database (Denmark)

Agrawal, Anirudh

2018-01-01

Traditionally the success of a venture capital model has been anchored around two dimensions‚ namely equity as a trade for investment and start-up valuation and profitable exits. Scholars have focused less on the inter-organizational interaction between the venture capital (VC) and start-up entre...

Venture Capital

National Research Council Canada - National Science Library

Lister, M. J; Andreassen, A; Bales, Shanda; Biddle, J. G; Chang, M. M; McCormick, R; Packard, W. J; Sun, T

2006-01-01

Leveraging venture capital to the advantage of the Naval Services should be viewed as part of the larger project of reforming the acquisition system to permit rapid introduction of new technologies...

Staged Financing in Venture capital market.

OpenAIRE

Damania, Priti

2009-01-01

The report shows the venture capital decision making in staged financing from a real option perspective. The report also describes entrepreneur-venture capital relationship from a prisoner's dilemma approach.

Combinations of partners’ joint venture formation motives

NARCIS (Netherlands)

Klijn, E.; Reuer, J.J.; Buckley, P.J.; Glaister, K.W.

2011-01-01

Purpose – Prior research on joint venture (JV) formation often examines a single focal firm and assumes it has a single motive for collaboration. This study seeks to investigate how formation motives of partner firms are symmetrically coupled. It considers motives in the context of different

Joint ventures: to pursue or not to pursue?

Science.gov (United States)

Blaszyk, Michael D; Hill-Mischel, Jody

2007-11-01

Hospitals should carefully select joint venture partners. The joint venture evaluation process should involve a high-level screen of strategic opportunities. Hospitals should develop a full business plan for the joint venture.

Risk bias and the link between motivation and new venture post-entry international growth

NARCIS (Netherlands)

Kiss, Andreea N.; Williams, David W.; Houghton, Susan M.

2013-01-01

We link research in international entrepreneurship and on behavioral decision making with the international business literature on firm degree of internationalization to advance an integrative model of new venture post-entry international growth. We test this model on a sample of 286 new ventures.

Venture financing of start-ups: A model of contract between VC fund and entrepreneur

Directory of Open Access Journals (Sweden)

Osintsev Yury

2010-01-01

Full Text Available Venture capital has become one of the main sources of innovation in the modern, global economy. It is not just a substitute for bank loans: it has proven to be a more efficient way of financing projects at different stages. On one hand, venture financing allows for projects with higher risk, which leads to the possibility of higher returns on investment. On the other hand, venture investors who usually have managerial experience often participate in governing the business, which certainly adds value to the enterprise. In this paper we establish the model of contract between the venture capital fund and the entrepreneur, focusing on probably the most important issue of this contract: the shares of the parties in the business. The shares in the company determine the distribution of the joint surplus. The expected joint profits are not just exogenously specified in the contract but are dependent on the behavioral variables of both parties at the stage of fulfilling the contract. We call the behavioral variable of the entrepreneur ‘effort’ and the one of the venture fund ‘advice’. The probability of the project’s success, and hence the expected joint revenues, are increased by these two. However, both kinds of effort are costly to the respective parties that have made them. Based on this fact we can elaborate the profit functions of both sides of the contract. Our model can be considered as a basis for specifying contracts concerning venture financing. It can provide the logic for how the equilibrium shares of entrepreneur and venture fund are obtained.

Venture business and control of ь organizations under globalization

OpenAIRE

Ostap Boiko; Olga Pogaidak; Petro Khariv

2015-01-01

The activity of venture companies and peculiarities of each management stage of venture financing which in modern terms is quite risky has been described in the article. The state of venture entrepreneurship in the world and in Ukraine has been analyzed, the main problems faced by domestic venture enterprises have been outlined and ways of their solution have been determined. The method of forming the system for the venture controlling at industrial...

Corporate Venturing, Allocation of Talent, and Competition for Star Managers

OpenAIRE

De Bettignies , Jean-Etienne; Chemla , Gilles

2008-01-01

We provide new rationales for corporate venturing, based on competition for talented managers. As returns to venturing increase, firms engage in corporate venturing for reasons other than capturing these returns. First, higher venturing returns increase managerial compensation, to which firms respond by increasing incentives. Managers increase effort, prompting firms to reallocate them to new ventures, where the marginal product of effort is highest. Second, as returns to venturing become lar...

UK manufacturers construction joint venture

Energy Technology Data Exchange (ETDEWEB)

NONE

1999-07-01

This report examines the legal and commercial framework for UK manufacturers to collaborate in a construction venture for a small combustion/steam cycle power plant fueled with biomass. The integration of technology and project plan, the working capital and capitalisation, financial aspects, the market plan, turnkey packages, joint venture entities, and collaboration are discussed. (UK)

An Ethnographic Study of New Venture and New Sector Legitimation

DEFF Research Database (Denmark)

Turcan, Romeo V.; Fraser, Norman

2016-01-01

This study explores the process of legitimation of international new ventures from an emerging economy and the effect such ventures have on the process of creation and legitimation of a new industry in that economy. It is a longitudinal ethnographic case study. Following an inductive theory......-political legitimacies, the model theorizes temporal emergence of these at organizational and industry levels, leading ultimately to institutionalization. The authors advocate for further research at the intersection between legitimation, international entrepreneurship and emerging markets in order to further advance...

15 CFR 296.9 - Activities not permitted for joint ventures.

Science.gov (United States)

2010-01-01

... joint venture of any product, process, or service, other than the distribution among the parties to such venture, in accordance with such venture, of a product, process, or service produced by such venture, the... INNOVATION PROGRAM General § 296.9 Activities not permitted for joint ventures. The following activities are...

Engelhard and IFP/Procatalyse set up worldwide catalysts venture

International Nuclear Information System (INIS)

Hunter, D.

1992-01-01

The new joint venture between Engelhard (Iselin, N) and Procatalyse (Paris), jointly owned by process licenser Institut Francais de Petrole (IFP; Rueil Malmaison, France) and Rhone-Poulenc (RP; Paris), marks the latest episode in the worldwide catalyst industry's restructuring. The operation will combine Engelhard's catalyst line, apart from its fluid catalytic cracking (FCC) and emission catalysts, with Procatalyse's offering. To be launched at the beginning of 1993, the venture will have annual sales of about $75 million. Reforming catalysts will be the biggest part of the venture's lineup at the outset, making it number three in the US, behind UOP - which dominates the sector - and Criterion. IFP is starting to establish a presence in North America with its reforming technology. But flat gasoline demand and reductions on aromatics in gasoline limit requirements for new reforming units, comments one competitor. Although lower sulfur specifications are putting some new demand into the hydrodesulfurization (HDS) catalyst market, both partners play down their prospects. The sector, whose leaders are Akzo and Crtierion, is continuing to suffer from severe overcapacity. Procatalyse's HDS business is mainly linked to IFP licensees, while Engelhard is due to mothball its Salt Lake City HDS catalyst plant by year-end, transferring output to Elyria

Internationalization of high-technology ventures from emerging economies

DEFF Research Database (Denmark)

Turcan, Romeo V.

This paper aims to contribute towards filling in the gap in the international entrepreneurhsip literature by exploring how and why new high-technology ventures internationalize from an emerging economy, namely Moldova. To address the above research questions, a multiple-case study strategy...

The Perfect Storm of Business Venturing? The Case of Entomology-Based Venture Creation

OpenAIRE

Pascucci, S.; Dentoni, D.; Mitsopoulos, D.

2015-01-01

In this paper we discuss how cooperation and trust among entrepreneurs can be challenged when they are dealing with venture creation in the context of radical innovation. Entomology-based foods are considered as one of the most promising innovation in the food sector. However they impose radical changes in food consumption habits with high risk of low consumer acceptance. Four European entrepreneurs joined forces in a new venture operating in this sector, trying to make it a successful busine...

Essays on equity joint ventures, uncertainty and experience

NARCIS (Netherlands)

Cuypers, I.R.P.

2009-01-01

Amidst increasingly global competition during the last decades, we observed a sharp increase in the number of joint ventures. As a result, joint ventures have triggered considerable enthusiasm in recent years among scholars and practitioners. However, studies have shown that most joint ventures fail

Venture capital: Generator of growth of SME investment activities

Directory of Open Access Journals (Sweden)

Dželetović Milenko

2017-01-01

Full Text Available The aim of the paper is to point out the importance and role of venture capital in creation of new values based on the knowledge economy. By reviewing relevant literature about venture capital, this paper presents the importance of the venture capital investments in innovative activities of SMEs that have an impact on economic growth. Pointing to the importance and quantifying the overall effects of venture capital investments, will be used the overview and trends in venture capital investments in the sectors of economy in Europe which generate a larger number of patents. According to data during the period of 2007 - 2015 will be defined venture capital investments and number of registered patents in the sectors of the knowledge economy. Empirical analysis indicated that the venture investments in the sectors of the knowledge economy generated more patents in those sectors. In addition, the paper analyzes the venture capital investment and innovation activities of SMEs, which are reflected in patent activities, where the result is a correlation between these activities in the European economies.

Configurations of new ventures and SMEs: a literature review of empirical research

NARCIS (Netherlands)

Michor, Lukas; Harms, Rainer; Schwarz, Erich; Breitenecker, Robert

2010-01-01

This article aims at analyzing configuration studies and their respective variable selection in the context of entrepreneurship and SMEs. New ventures as well as SMEs are both confronted with a high amount of dynamism and complexity. The configuration approach is well suited to capture that and

Taxation and venture capital-backed entrepreneurship

DEFF Research Database (Denmark)

Keuschnigg, Christian; Nielsen, Søren Bo

2003-01-01

In recent years, venture capital has increasingly become a factor in thefinancing of new firms. We examine how the value of mature firms determinesthe incentives of entrepreneurs to start up new firms and of venture capitaliststo finance and advise them. We examine how capital gains taxes as well...... assubsidies to start-up costs of new firms affect venture capital-backedentrepreneurship. We also argue that dividend and capital gains taxes onmature firms have important consequences for start-up firms as well.JEL Classification: D82, G24, H24 and H25Keywords: double moral hazard, entrepreneurship, taxes...

Strategies for Creating New Venture Legitimacy

Science.gov (United States)

Karlsson, Tomas; Middleton, Karen Williams

2015-01-01

New ventures, being heavily subjected to liabilities of newness, are seen to engage in legitimacy strategies to overcome these liabilities. Building on an adapted theoretical framework of organizational legitimacy, self-reported weekly diaries of twelve entrepreneurs were analysed to identify strategies used by new ventures to create legitimacy.…

TENDENCY OF IMPROVEMENT ANALYSIS OF VENTURE ACTIVITY FOR MANAGEMENT DECISIONS

Directory of Open Access Journals (Sweden)

G.Yu. Iakovetс

2015-03-01

Full Text Available The questions concerning the definition of current trends and prospects of venture financing new innovative enterprises as one of the most effective and alternative, but with a high degree of risk financing sources of the entity. The features of venture financing that is different from other sources of business financing, as well as income from investments of venture capital can greatly exceed the volume of investments, but at the same time such financing risks are significant, so it all makes it necessary to build an effective system of venture capital investments in the workplace. In the course of the study also revealed problems of analysis and minimization of risks in the performance of venture financing of innovative enterprises. Defining characteristics analysis and risk assessment of venture financing helps to find ways to minimize and systematization, avoidance and prevention of risks in the performance of venture capital. The study also identified the major areas of improvement analysis of venture capital for management decisions.

FY 2000 report of survey by NEDO in Sydney on the Venture capitals and businesses in Australia; 2000 nendo Goshu no venture capital to venture business chosa hokokusho

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-03-01

The venture capitals and businesses in Australia are surveyed and reported. Venture Capital Guide (2000), annually issued by Polliticon Publications, estimates a total of 120 venture businesses raise a total funds B$7.393 from the domestic sources, of which B$3.546 is invested on 1113 enterprises as of the end of December, 2000. Of the enterprises on which the funds are invested, 766 are currently of portfolio enterprises and 347 have completely disposed them. The Government of Australia has introduced several venture capital supporting schemes, including PDF (Pooled Development Funds) to supply equity capitals to small- to medium-sized enterprises over extended periods, IIF (Innovation Investment Funds) to encourage early-stage investments on innovative small- to medium-sized enterprises, R and D Start to provide increased funds for small- to medium-sized enterprises now considering production on a commercial basis, COMET (Commercialising Emerging Technologies) and BITS (Building on Information Technology Strengths). (NEDO)

PRN 2011-1: Residential Exposure Joint Venture

Science.gov (United States)

This PR Notice is to advise registrants of an industry-wide joint venture, titled the Residential Exposure Joint Venture (REJV), which has developed a national survey regarding residential consumer use/usage data for pesticides.

16 CFR 801.40 - Formation of joint venture or other corporations.

Science.gov (United States)

2010-01-01

... 16 Commercial Practices 1 2010-01-01 2010-01-01 false Formation of joint venture or other... § 801.40 Formation of joint venture or other corporations. (a) In the formation of a joint venture or... contributing to the formation of a joint venture or other corporation and the joint venture or other...

GROWTH AND VENTURE CAPITAL INVESTMENT IN TECHNOLOGY-BASED SMALL FIRMS THE CASE OF HUNGARY

Directory of Open Access Journals (Sweden)

Becsky Nagy Patricia

2014-07-01

Full Text Available Venture capital backed enterprises represent a low proportion of companies, even of innovative ones. The research question was, whether these companies have an important role in innovation and economic growth in Hungary compared to other countries. In the first part of the article I present the theoretical background of technology-based small firms, highlighting the most important models and theories of the economic impact and the special development of innovative technology-oriented small firms. In the second part of the article I present the status of the most important indicators of innovation in connection with entrepreneurship, than I elaborate on the measures of start-ups, mainly the high-tech ones with high-growth potential. I describe the current position of venture capital industry, detailing the venture capital investments, with particular emphasis on classical venture capital investments that points out the number and the amount of venture capital investments financing early stage firms with high-growth potential. At the end I summarize the status of Hungarian technology-based small firms and their possibilities to get financial sources form venture capital investors, with regards to the status and the prospects of the JEREMIE program. In Hungary the number of internationally competitive firms, ready and willing to obtain venture capital, is much lower than in the US or Western European countries. Hungary could take advantage of its competitive edges in some special fields of innovation. The efficiency of information flow would reduce the information gap between the demand and the supply side of the venture capital market and more Hungarian firms could be internationally successful through venture capital financing. The recent years’ policy and special programs like JEREMIE generated more transactions, that helped to inform the entrepreneurs about venture capital and helped to co-invest public resources with private equity more

What Happens To International New Ventures beyond Start-up

DEFF Research Database (Denmark)

Turcan, Romeo V.; Juho, Anita

2014-01-01

ventures: strategic experimentation, tensions in organizational gestalt, and legitimacy lies. We conjecture that international new ventures do not reach a made-it point if they only manage to develop substantive capabilities to produce desired outputs at various levels within the venture, but fail...

NASA's Earth Venture-1 (EV-1) Airborne Science Investigations

Science.gov (United States)

Guillory, A.; Denkins, T.; Allen, B. Danette; Braun, Scott A.; Crawford, James H.; Jensen, Eric J.; Miller, Charles E.; Moghaddam, Mahta; Maring, Hal

2011-01-01

In 2010, NASA announced the first Earth Venture (EV-1) selections in response to a recommendation made by the National Research Council for low-cost investigations fostering innovation in Earth science. The five EV-1 investigations span the Earth science focus areas of atmosphere, weather, climate, water and energy and, carbon and represent earth science researchers from NASA as well as other government agencies, academia and industry from around the world. The EV-1 missions are: 1) Airborne Microwave Observatory of Subcanopy and Subsurface (AirMOSS), 2) Airborne Tropical Tropopause Experiment (ATTREX), 3) Carbon in Arctic Reservoirs Vulnerability Experiment (CARVE), 4) Deriving Information on Surface Conditions from Column and Vertically Resolved Observations Relevant to Air Quality (DISCOVER-AQ), and 5) Hurricane And Severe Storm Sentinel (HS3). The Earth Venture missions are managed out of the Earth System Science Pathfinder (ESSP) Program Office (Allen, et. al. 2010b)

Venture funding for science-based African health innovation.

Science.gov (United States)

Masum, Hassan; Chakma, Justin; Simiyu, Ken; Ronoh, Wesley; Daar, Abdallah S; Singer, Peter A

2010-12-13

While venture funding has been applied to biotechnology and health in high-income countries, it is still nascent in these fields in developing countries, and particularly in Africa. Yet the need for implementing innovative solutions to health challenges is greatest in Africa, with its enormous burden of communicable disease. Issues such as risk, investment opportunities, return on investment requirements, and quantifying health impact are critical in assessing venture capital's potential for supporting health innovation. This paper uses lessons learned from five venture capital firms from Kenya, South Africa, China, India, and the US to suggest design principles for African health venture funds. The case study method was used to explore relevant funds, and lessons for the African context. The health venture funds in this study included publicly-owned organizations, corporations, social enterprises, and subsidiaries of foreign venture firms. The size and type of investments varied widely. The primary investor in four funds was the International Finance Corporation. Three of the funds aimed primarily for financial returns, one aimed primarily for social and health returns, and one had mixed aims. Lessons learned include the importance of measuring and supporting both social and financial returns; the need to engage both upstream capital such as government risk-funding and downstream capital from the private sector; and the existence of many challenges including difficulty of raising capital, low human resource capacity, regulatory barriers, and risky business environments. Based on these lessons, design principles for appropriate venture funding are suggested. Based on the cases studied and relevant experiences elsewhere, there is a case for venture funding as one support mechanism for science-based African health innovation, with opportunities for risk-tolerant investors to make financial as well as social returns. Such funds should be structured to overcome the

Joint Ventures: A New Agenda for Education.

Science.gov (United States)

Griffin, Dean

1989-01-01

The author states that vocational education can join in partnerships with industry, labor, and government to contribute to economic development. Examples of current programs are included. The "joint venture" concept is explained and ideas for forming joint ventures are shared. (CH)

Building new businesses through corporate venturing at the danish NKT group

DEFF Research Database (Denmark)

Skat-Rørdam, Peter

2005-01-01

An in depth case study of how the danish NKT group used corporate venturing over a 25 year period to build new businesses. The study provides insights on purposes, drivers and results of corporate venturing and examines factors contributing to venture success and failure.......An in depth case study of how the danish NKT group used corporate venturing over a 25 year period to build new businesses. The study provides insights on purposes, drivers and results of corporate venturing and examines factors contributing to venture success and failure....

Practical issues in selecting a joint venture partner

International Nuclear Information System (INIS)

Hillary, R.B.

1999-01-01

Some general issues regarding joint ventures and how they come about were discussed. The first section of the presentation identified potential joint venture candidates as being gas suppliers, project developers, steam hosts, financiers, facility owners, fuel managers and non-regulated utility affiliates. An explanation of the joint venture process and the motives driving it was then presented. There are many sources of potential conflicts of interest in a cogeneration venture. These include changes in either deregulation, prices markets, competitive environment or financial position of participants. Another section of this paper discussed some of the lessons learned from forced cogeneration restructuring and buyouts. Three examples of cogeneration projects which did not survive the challenges of partnership were presented. These included the New York cogeneration project at a manufacturing plant, the Pacific Northwest cogeneration project at a refinery, and the Quebec City cogeneration project at a pulp and paper mill. The last section of this paper discussed the pros and cons of joint venture and other types of deals

THE IMPORTANCE OF VENTURE CAPITAL

Directory of Open Access Journals (Sweden)

IRINA ANGHEL-ENESCU

2013-05-01

Full Text Available Created in the United States of America, Venture Capital is an asset class which attracted recently the attention of the policy makers all over the world. But the concept is still not clearly defined and understood. This paper attempts at introducing in the concept, its characteristics, and reviewing some of the benefits Venture Capital investments can bring at both the macroeconomic level, by looking at the correlation with the economic growth, and at the microeconomic level, for the portfolio companies.

Venture investing opportunities in superconductivity

International Nuclear Information System (INIS)

Zschau, E.

1987-01-01

The authors provide an assessment of the venture investing opportunities in superconductivity and some guidelines to follow. There were many elements that made Silicon Valley a leader in technology, not the least of which were the distinguished research universities located here. However, the application of the research results that they produced was done by groups of extraordinary people--people who had ideas, who were willing to take risks, and who inspired others to follow them into the unknown. They sometimes succeeded, but they often didn't. However, they never stopped trying. People like that will be the key to success in advancing and applying superconductivity technology just as they have been in semiconductors

The dual role of external corporate venturing in technological exploration

DEFF Research Database (Denmark)

Li, Ying; van de Vrande, Vareska; Vanhaverbeke, Wim

2009-01-01

Innovating firms can not only explore new technologies from its innovation partners, but also explore new technologies from the organizations to which the innovating firm has had no prior relationships. Prior studies have mostly focused on a firm's exploratory learning from its venturing partners...... ("exploration from partners" or "EFP"). There has been little insight on how external corporate venturing may affect the exploratory learning beyond the venturing partnerships ("exploration beyond partners" or "EBP"). We claim that prior venturing relations have a dual role: First, the innovation firm can learn...... from knowledge embedded in its partners. Second, it can also learn from through its partners about knowledge developed by other firms or organizations with whom the innovating firm had no external venturing relations before. In this paper, we are interested how external corporate venturing partnerships...

Academic entrepreneurship in support of business ventures

Directory of Open Access Journals (Sweden)

Maciej Rogalski

2009-12-01

Full Text Available nnovative enterprises based on scientific research conducted by academic centres are beginning to play an increasingly important role in modern economy. Opening to business ventures as well as building up abilities to release entrepreneurial potential among research workers, students and candidates for doctoral degree, constitute an attractive way for the growth of higher education institutions in many regions and countries. The aim of the article is to point out the significance, peculiarity and conditioning of the academic entrepreneurship development in Poland.

Venture Leaders Prize for innovative technology projects

CERN Multimedia

2006-01-01

In co-operation with the GEBERT RÜF FOUNDATION and the Ernest & Young Entrepreneur of the Year Award, venturelab will be presenting the Venture Leaders Prize. The Venture Leaders Prize, which is the new guise of the NETS (New Entrepreneurs in Technology and Science) Prize, will give twenty research entrepreneurs with projects to develop innovative technologies the opportunity to win the chance of participating in a programme to assist them in starting up their companies. The winners will go to spend 10 days in the Boston area (United States) where they will take part in a development programme for their project, which will include an entrepreneurship course, opportunities to meet start-up companies and financing experts, etc. This prize has already spawned many companies such as id Quantique, Selexis or ABMI which have contributed to the economic development of regions, particularly in French-speaking Switzerland. The competition is open to students and scientists from all fields, who would like to s...

Venture funding for science-based African health innovation

Directory of Open Access Journals (Sweden)

Daar Abdallah S

2010-12-01

Full Text Available Abstract Background While venture funding has been applied to biotechnology and health in high-income countries, it is still nascent in these fields in developing countries, and particularly in Africa. Yet the need for implementing innovative solutions to health challenges is greatest in Africa, with its enormous burden of communicable disease. Issues such as risk, investment opportunities, return on investment requirements, and quantifying health impact are critical in assessing venture capital’s potential for supporting health innovation. This paper uses lessons learned from five venture capital firms from Kenya, South Africa, China, India, and the US to suggest design principles for African health venture funds. Discussion The case study method was used to explore relevant funds, and lessons for the African context. The health venture funds in this study included publicly-owned organizations, corporations, social enterprises, and subsidiaries of foreign venture firms. The size and type of investments varied widely. The primary investor in four funds was the International Finance Corporation. Three of the funds aimed primarily for financial returns, one aimed primarily for social and health returns, and one had mixed aims. Lessons learned include the importance of measuring and supporting both social and financial returns; the need to engage both upstream capital such as government risk-funding and downstream capital from the private sector; and the existence of many challenges including difficulty of raising capital, low human resource capacity, regulatory barriers, and risky business environments. Based on these lessons, design principles for appropriate venture funding are suggested. Summary Based on the cases studied and relevant experiences elsewhere, there is a case for venture funding as one support mechanism for science-based African health innovation, with opportunities for risk-tolerant investors to make financial as well as social

Puna Geothermal Venture Hydrologic Monitoring Program

Energy Technology Data Exchange (ETDEWEB)

None

1990-04-01

This document provides the basis for the Hydrologic Monitoring Program (HMP) for the Puna Geothermal Venture. The HMP is complementary to two additional environmental compliance monitoring programs also being submitted by Puma Geothermal Venture (PGV) for their proposed activities at the site. The other two programs are the Meteorology and Air Quality Monitoring Program (MAQMP) and the Noise Monitoring Program (NMP), being submitted concurrently.

Venture Capital Financing, Moral Hazard and Learning

NARCIS (Netherlands)

Bergemann, D.; Hege, U.

1997-01-01

We consider the provision of venture capital in a dynamic agency model. The value of the venture project is initially uncertain and more information arrives by developing the project. The allocation of the funds and the learning process are subject to moral hazard. The optimal contract is a

The steps to forming a joint venture IPP in Poland

Energy Technology Data Exchange (ETDEWEB)

Allen, Z.; Colligan, M.J.

1998-07-01

Poland represents the largest market in Central Europe with 38 million people and an installed electrical generating capacity of about 32 gigawatts. Since 1989, when the process of governmental restructuring along free market principals began, the allure to IPP developers has been evident, but is of yet unrealized. The natural model for IPP development in Poland would seem to be joint ventures with Polish generating companies. These enterprises already have sites, franchises, and a going business to contribute to a joint company. There are a number of reasons why so few deals have been concluded in Poland to date, and a number of barriers still exist that tend to hamper the realization of project finance funded power joint ventures. But, these barriers are not insurmountable. Overcoming them in the context of a joint venture relationship with a domestic partner requires patience, work, and an ability to bridge the gaps between the realities of working in a post-Communist environment and the practicalities of structuring projects that can be financed in the international capital markets. The new Energy Law in Poland establishes a framework for a viable private sector power generation business. But the enabling regulations are yet to be published or approved. There is still effective political risk on account of the uncertainty this creates. Pressure is mounting on the Polish Government, especially due to its expressed interest in joining the EU, to get the power sector to operate on private sector terms, if not in private hands. The trends are pointing in the direction of increased market driven policies and practices. The conclusion is that, despite the delays of the past, independent power projects will start to happen in Poland on a joint venture basis, with increasing frequency in the next years.

International venture capital perspective

International Nuclear Information System (INIS)

Carter, D.

2004-01-01

'Full text:' The emerging fuel cell industry is characterized by global cooperation and partnerships in commercial, technical, and financial aspects. In this talk, we would like to provide observations about international venture capital focused on fuel cells globally. The talk will refer to experiences Conduit Ventures has had with its portfolio companies and other investors in various countries. We discuss our approach to working with portfolio companies who are geographically remote from our main office in London. We also discuss the process of making investment decisions on possible investments in various countries. The talk will conclude with insights and 'lessons learned' which may be of interest to fellow members of Fuel Cells Canada. (author)

BOLD/VENTURE-4, Reactor Analysis System with Sensitivity and Burnup

International Nuclear Information System (INIS)

1998-01-01

cross section variation or correlation on nuclide concentrations is provided, but a temperature dependence is coded. Steady state condition with continuous fueling is established by a global iterative scheme that applies the criticality search scheme in the neutronics and models fuel movement directly in the exposure code. Time-dependent sensitivity data applies the forward march, reverse importance approach. The codes do not process data from the user input data stream allowing flexible task assignment along selected calculational paths. Multigroup cross section data are produced locally using the PSR-0063/AMPX II or CCC-0450/SCALE-2 code systems to produce resonance shielding (NITAWL) and cell weighted (XSDRN) microscopic cross sections. Locally, each code is compiled and loaded, and only one version is maintained in a quality assurance state in load module form. An on-line catalog procedure, installed with system support, provides job control instructions with nominal default of space allocation to files. Executing the catalog procedure makes the driver memory resident. The first user input data line must be the control module name used for the run. VENTURE-PC: The VENTURE module applies the finite-difference diffusion or a simple P1 approximation. VENTURE uses an outer-inner iteration scheme with several different data handling methods. Over-relaxation is applied to the inner and outer iterations, and succeeding flux iterates may be accelerated with the Chebychev process. - The BURNER code (module EXPOSURE) uses a difference formulation based on average generation rates; or a matrix exponential formulation to approximate the solution of the coupled burnup differential equations; or an explicit solution for simply coupled nuclide chains. Space dependence is included by working with zone averaged fluxes

Taxes and Venture Capital Support

DEFF Research Database (Denmark)

Keuschnigg, Christian; Nielsen, Søren Bo

2003-01-01

In this paper we set up a model of start-up finance under double moral hazard.Entrepreneurs lack own resources and business experience to develop their ideas.Venture capitalists can provide start-up finance and commercial support. The effortput forth by either agent contributes to the firm......-set may paradoxically contribute to higher quality of venturecapital finance and welfare. Subsidies to physical investment in VC-backed startupsare detrimental in our framework.Keywords: Venture capital, capital gains taxation, double moral hazard.JEL-Classification: D82, G24, H24, H25...

The Determinants of Venture Capital Portfolio Size: Empirical Evidence

OpenAIRE

Douglas J. Cumming

2006-01-01

This paper explores factors that affect portfolio size among a sample of venture capital financing data from 214 Canadian funds. Four categories of factors affect portfolio size: (1) the venture capital funds' characteristics, including the type of fund, fund duration, fund-raising, and the number of venture capital fund managers; (2) the entrepreneurial firms' characteristics, including stage of development, technology, and geographic location; (3) the nature of the financing transactions, i...

Proposed Chevron Tengiz venture stalls amid Soviet political squabble

International Nuclear Information System (INIS)

Anon.

1991-01-01

This paper reports on the status of foreign investment in Soviet oil and gas joint ventures which has reached a critical juncture. Just as the U.S. is considering granting most favored nation trade status to the U.S.S.R., the joint venture petroleum deal seen as the litmus test for such deals-Chevron Corp.'s proposed addition of supergiant Tengiz oil field to its Caspian Sea joint venture-has stalled amid controversy. Unconfirmed reports from Soviet officials and other foreign joint venture participants in the U.S.S.R. have Chevron pulling out of the long negotiated, multibillion dollar project after the Soviets rejected the company's terms. Chevron, however, insists the project is still alive

Application of Delphi expert panel in joint venture projects

Science.gov (United States)

Adnan, H.; Rosman, M. R.; Rashid, Z. Z. Ahmad; Mohamad Yusuwan, N.; Bakhary, N. A.

2018-02-01

This study was conducted with the aim to identify the application of the Delphi Technique in validating findings obtained from questionnaire surveys and interviews done in- depth on the subject of joint venture projects in Malaysia. The Delphi technique aims to achieve a consensus of opinion amongst expert panellist that were selected on the primary factors in JV projects. To achieve research objectives, a progressive series of questions was designed where a selected panel of expert to confirm and validate the final findings. The rationale, benefits, limitations and recommendations for the use of Delphi were given in this study. From the literature review done, twenty-one factors were identified as critical factors to the making any joint venture project successful. Detail information from contractors were obtained by using the questionnaire survey method and forty-three in-depth interviews were carried out. Trust between partners, mutual understanding, partner selection criteria, agreement of contract, objective compatibility, conflict, and commitment were confirmed by the Delphi panel to be the critical success factors besides another fourteen factors which were found to be the Failure Reduction Criteria. Delphi techniques has proven to successfully assist in recognising the main factors and would be beneficial in supplementing the success of joint venture arrangements application for construction projects in Malaysia.

13 CFR 108.10 - Description of the New Markets Venture Capital Program.

Science.gov (United States)

2010-01-01

... Venture Capital Program. 108.10 Section 108.10 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM Introduction to Part 108 § 108.10 Description of the New Markets Venture Capital Program. The New Markets Venture Capital (“NMVC”) Program is a...

Chart Venture Partners' perspective on dual-use CBRNE technologies

Science.gov (United States)

Van Nice, C. S.; Gardner, P. J.

2008-04-01

Chart Venture Partners' (CVP) approach to investing in Chemical, Biological, Radiological, Nuclear, and Explosives (CBRNE) detection technologies can be best understood in the context of the unique partnership between the firm's two founding institutions. CVP was founded as a partnership between the Chart Group, a New York-based merchant banking and venture capital boutique, and InSitech Incorporated, a 501(c)(3) non-profit commercial partnership intermediary for the U.S. Army's Armament Research Development and Engineering Center (ARDEC) at Picatinny Arsenal in New Jersey. The partnership between Chart Group and Insitech has yielded a new investment model. Unlike most venture funds, CVP operates with a singular focus on early-stage defense and security technologies, with the important caveat that everything we invest in must also have dual-use application in large-scale commercial markets. CVP believes that early-stage CBRNE companies require five qualities to be viable investment candidates and successful start-up companies: Great Science, Strong IP Positions, Recognized Scientific Champions, Identified Dual-Use Market Pull, and "Real World" Technical Performance Data. When earlystage CBRNE companies decide to seek venture capital and pursue higher growth dual-use business models, we often find that certain issues arise that are not always fully contemplated at the outset, and that can create gaps between what the start-up companies are offering to investors and what those investors are seeking from their potential portfolio companies. These same issues can have significant positive or negative impact on shareholder value over time, depending on how they are managed. Specifically, startups should consider carefully their strategies related to business development, market positioning, government funding, and investment syndicate formation.

A venture capital view of challenges, opportunities, and innovation in biomedical research.

Science.gov (United States)

Ratcliffe, L T

2011-02-01

Small biotech companies have been an important source of innovation, pipelines, and new products for the pharmaceutical industry, and are primarily financed by venture capital (VC). The significant changes happening within the VC industry have broad implications for these small companies. This includes a shift to financing later-stage programs with increasing interest in orphan or specialty indications. Nontraditional sources of capital and innovative risk-sharing structures can enable early-stage companies.

provider venture capital funds: investing in innovation.

Science.gov (United States)

Potter, Mary Jo; Wesslund, Rick

2016-05-01

As health systems continue to embrace disruptive innovation, they are increasingly likely to consider making a move into venture capital. Working in venture capital can benefit a health system in several ways, including: Allowing it to operate outside of bureaucracy and align projects with its core values. Encouraging innovation within the organization. Enabling it to respond quickly to changes in the market.

New ventures shape up for Russian projects

International Nuclear Information System (INIS)

Anon.

1991-01-01

This paper reports that the foreign presence in the Soviet oil industry is destined to grow as a result of ventures by Canadian, British, and French companies. Gulf Canada Resources Ltd., Calgary, last week disclosed the government of the Russian republic has granted approvals necessary to enable Gulf Canada and British Gas plc's KomiArctic Oil joint venture to begin production operations immediately. The approvals follow the registration of Komi Arctic Oil by the Minister of Finance of the Russian Federation in November, at which time it became a legally constituted independent company in Russia. Canadian Fracmaster Ltd., also of Calgary, disclosed it plans to spend $75-100 million on three new joint venture production deals in the Russian republic in 1992

Venture Capital Investment in the Life Sciences in Switzerland.

Science.gov (United States)

Hosang, Markus

2014-12-01

Innovation is one of the main driving factors for continuous and healthy economic growth and welfare. Switzerland as a resource-poor country is particularly dependent on innovation, and the life sciences, which comprise biotechnologies, (bio)pharmaceuticals, medical technologies and diagnostics, are one of the key areas of innovative strength of Switzerland. Venture capital financing and venture capitalists (frequently called 'VCs') and investors in public equities have played and still play a pivotal role in financing the Swiss biotechnology industry. In the following some general features of venture capital investment in life sciences as well as some opportunities and challenges which venture capital investors in Switzerland are facing are highlighted. In addition certain means to counteract these challenges including the 'Zukunftsfonds Schweiz' are discussed.

Patterns of venturing financing: The case of Chinese entrepreneurs

OpenAIRE

Liao, Jianwen; Welsch, Harold; Pistrui, David

2003-01-01

This study examines the sources of venture financing of Chinese entrepreneurs in Wuhan, China. Based on a sample of 222, we found that Chinese entrepreneurs in Wuhan mainly rely on venture financing on their own or parties that are within their close social networks such as parents, relatives and friends. External financing sources are notably missing. We also found that entrepreneurs who use significantly more personal saving in venture financing are older (>37 years), female, with high scho...

Duke University: Licensing and Real Estate Joint Ventures.

Science.gov (United States)

McDonald, Eugene J.

1984-01-01

Joint ventures undertaken by Duke University with industry are reported that illustrate the imaginative arrangements and economic and otherwise advantageous structures possible in co-ventures. They include patent and trademark licensing, travel agency commissions, a racquetball and health club, a hotel, and an office building. (MSE)

Venture capital performance: the disparity between Europe and the United States

NARCIS (Netherlands)

Schwienbacher, A.; Hege, U.; Palomino, F.

2009-01-01

Abstract: This paper compares the success of venture capital investments in the United States and in Europe by analyzing individual venture-backed companies and the value generated within the stage financing process. We document that US venture capitalists generate significantly more value with

U.S.-Soviet joint venture near final terms

International Nuclear Information System (INIS)

Anon.

1991-01-01

This paper reports that U.S. and Russian partners expect late this moth to register their second oil and gas joint venture in western Siberia. If plans proceed on schedule following registration, Golden Mammoth partners about June 1992 will begin drilling joint venture wells in the Bakhilovsk region

The Cultural Context of Learning in International Joint Ventures.

Science.gov (United States)

Liu, Shimin; Vince, Russ

1999-01-01

A study of Chinese-Western joint business ventures showed that cultural context and different modes of managing and organizing must be considered. Successful joint ventures involve a process of collective, two-way learning. (SK)

Joint Venture Manufacturing in China : an Exploratory Investigation

OpenAIRE

Zhang, Lihong; Goffin, Keith

1999-01-01

International joint venture (IJV) manufacturing is important for both the Chinese economy and a large number of foreign investors. A review of the literature from both Western and Chinese researchers showed that although the purpose and advantages of IJV manufacturing in China are known, a vital aspect – operations management – has largely been ignored. Therefore, exploratory interviews with managers at six companies were conducted to investigate the operations management is...

46 CFR 67.37 - Association or joint venture.

Science.gov (United States)

2010-10-01

... 46 Shipping 2 2010-10-01 2010-10-01 false Association or joint venture. 67.37 Section 67.37... DOCUMENTATION OF VESSELS Citizenship Requirements for Vessel Documentation § 67.37 Association or joint venture. (a) An association meets citizenship requirements if each of its members is a citizen. (b) A joint...

Joint ventures between industry and government

International Nuclear Information System (INIS)

Vant, T.R.

1991-01-01

Joint venture projects undertaken between government and industry in western Canada are reviewed. The first significant involvement of the Alberta government was with the Syncrude oil sands project. In 1974, one of the original participants, Atlantic Richfield, pulled out of Syncrude for financial reasons. After a government review and search for replacement participation, three provincial governments took equity positions in the project. The Syncrude project has since had a very significant impact on Alberta and Canada in terms of oil production, employment, investment, and profits. The Other Six Leases Operation (OSLO), the OSLO New Ventures Project, and the Lloydminster Bi-Provincial Upgrader would also not have advanced to their present stages of development without government participation. Since oil sand/heavy oil development requires significant capital investment over long lead times, and since there are few private companies that can undertake such a commitment, government assistance is often required. It also makes sense for governments to share upfront risk in such projects for both the long-term economic gain and such immediate benefits as job creation and energy supply security. An industry/government joint venture provides a means of getting large, inherently economic projects such as oil sands developments under way while protecting taxpayers' interests. The success of such a joint venture depends not only on the financing brought to the project but also on the expertise, decision making capability, and balanced management of regulatory and policy issues

DEVELOPMENT INSTITUTIONS «CULTIVATION» OF INNOVATIVE PROJECTS IN THE CONTEXT OF THE FORMATION OF VENTURE CAPITAL ECOSYSTEM

Directory of Open Access Journals (Sweden)

M. N. Dudin

2016-01-01

Full Text Available The current state of the Russian economy is characterized as unstable in the background influence of a combination of factors, including which are rooted in a fairly distant past. Delayed impact of these factors is expressed in the fact that the transition to innovation-oriented and environmentally responsible economic growth is difficult in many ways. But, despite this, the Russian economy is strong enough and gained significant development potential. Available reserves and potential accumulated national economies could be realized through the use of a new formation: the institutions 'growing'. This methodical approach, and this practice is well established itself abroad (USA, Japan and many countries of the European Union, it is proposed to use this experience in Russian conditions. The basis for the efficient functioning of the institutions «growing» forms the venture ecosystem. Venture Ecosystem – a specially built set of structural components that define the goals, objectives and directions of development of the system in accordance with its strategic purpose in the economy. In this article defined the concept of venture capital ecosystem, considered the objectives and components of the venture capital ecosystem, the characteristic of the state of the domestic venture capital ecosystem highlighted ways to improve it. Resulting in the conclusions and definitions may be used in the practice of building the institutional venture capital environment, focused on the full support of innovative activity of small and medium-sized businesses. In addition, the conclusions and recommendations contained in the article can be used in the development of normative legal acts, including those aimed at promoting high-tech sectors of the Russian economy.

External legitimation in international new ventures

DEFF Research Database (Denmark)

Turcan, Romeo V.

2012-01-01

This paper explores within the framework of new venture legitimation how and why international new ventures acquire external legitimacy and strive for survival in the face of critical events. Following a longitudinal multiple-case study methodology that was adopted for the purpose of theory...... building, the paper introduces the typology of captivity, and the four types that have emerged: captive industry supplier, captive dyadic partner, captive market leader, and free market leader. The effects of captivity types on the acquisition of external legitimacy and its survival, on reaching legitimacy...

Fueling innovation in medical devices (and beyond): venture capital in health care.

Science.gov (United States)

Ackerly, D Clay; Valverde, Ana M; Diener, Lawrence W; Dossary, Kristin L; Schulman, Kevin A

2009-01-01

Innovation in health care requires new ideas and the capital to develop and commercialize those ideas into products or services. The necessary capital is often "venture capital," but the link between public policy and the venture capital industry has not been well examined. In this paper we explore the link between venture capital and innovation in health care, and we present new descriptive data from a survey of health care venture capital fund managers. Respondents generally viewed policy levers (for example, reimbursement and regulations) as important risks to venture capital investments, potentially affecting their ability to raise capital for early-stage investment funds.

Infrastructure Joint Venture Projects in Malaysia: A Preliminary Study

Science.gov (United States)

Romeli, Norsyakilah; Muhamad Halil, Faridah; Ismail, Faridah; Sufian Hasim, Muhammad

2018-03-01

As many developed country practise, the function of the infrastructure is to connect the each region of Malaysia holistically and infrastructure is an investment network projects such as transportation water and sewerage, power, communication and irrigations system. Hence, a billions allocations of government income reserved for the sake of the infrastructure development. Towards a successful infrastructure development, a joint venture approach has been promotes by 2016 in one of the government thrust in Construction Industry Transformation Plan which encourage the internationalisation among contractors. However, there is depletion in information on the actual practise of the infrastructure joint venture projects in Malaysia. Therefore, this study attempt to explore the real application of the joint venture in Malaysian infrastructure projects. Using the questionnaire survey, a set of survey question distributed to the targeted respondents. The survey contained three section which the sections are respondent details, organizations background and project capital in infrastructure joint venture project. The results recorded and analyse using SPSS software. The contractors stated that they have implemented the joint venture practice with mostly the client with the usual construction period of the infrastructure project are more than 5 years. Other than that, the study indicates that there are problems in the joint venture project in the perspective of the project capital and the railway infrastructure should be given a highlights in future study due to its high significant in term of cost and technical issues.

Infrastructure Joint Venture Projects in Malaysia: A Preliminary Study

Directory of Open Access Journals (Sweden)

Romeli Norsyakilah

2018-01-01

Full Text Available As many developed country practise, the function of the infrastructure is to connect the each region of Malaysia holistically and infrastructure is an investment network projects such as transportation water and sewerage, power, communication and irrigations system. Hence, a billions allocations of government income reserved for the sake of the infrastructure development. Towards a successful infrastructure development, a joint venture approach has been promotes by 2016 in one of the government thrust in Construction Industry Transformation Plan which encourage the internationalisation among contractors. However, there is depletion in information on the actual practise of the infrastructure joint venture projects in Malaysia. Therefore, this study attempt to explore the real application of the joint venture in Malaysian infrastructure projects. Using the questionnaire survey, a set of survey question distributed to the targeted respondents. The survey contained three section which the sections are respondent details, organizations background and project capital in infrastructure joint venture project. The results recorded and analyse using SPSS software. The contractors stated that they have implemented the joint venture practice with mostly the client with the usual construction period of the infrastructure project are more than 5 years. Other than that, the study indicates that there are problems in the joint venture project in the perspective of the project capital and the railway infrastructure should be given a highlights in future study due to its high significant in term of cost and technical issues.

Hoechst and Wacker plan joint venture in PVC

International Nuclear Information System (INIS)

Young, I.

1992-01-01

Restructuring of Europe's petrochemical industry has taken a further step with the announcement that Hoechst (Frankfurt) and Wacker Chemie (Munich) are planning a joint venture in polyvinyl chloride (PVC). The venture would include production, R ampersand D, sales and marketing, plus both companies' PVC recycling activities. However, their vinyl chloride monomer (VCM) plants, and Hoechst's Kalle PVC film business, have been left out. Erich Schnitzler, head of Hoechst's PVC business unit, does not anticipate problems with the European Community's competition directorate. We are both among the middle-sized European PVC producers, and together we would have a 9%-10% market share. Our joint venture would not limit competition. Both partners are hoping for approval from Brussels in first-quarter 1993. Hoechst has 255,000 m.t./year of PVC capacity at Gendorfand Knapsack, while Wacker has 365,000 m.t./year at Burghausen and Cologne. All the units, except Wacker's Cologne plant, are back integrated to VCM. The joint venture would buy VCM from the two parent companies and on the merchant market

Venture capital and efficiency of portfolio companies

Directory of Open Access Journals (Sweden)

A. Thillai Rajan

2010-12-01

Full Text Available Venture Capital (VC has emerged as the dominant source of finance for entrepreneurial and early stage businesses, and the Indian VC industry in particular has clocked the fastest growth rate globally. Academic literature reveals that VC funded companies show superior performance to non VC funded companies. However, given that venture capitalists (VCs select and fund only the best companies, how much credit can they take for the performance of the companies they fund? Do the inherent characteristics of the firm result in superior performance or do VCs contribute to the performance of the portfolio company after they have entered the firm? A panel that comprised VCs, an entrepreneur and an academic debated these and other research questions on the inter-relationships between VC funding and portfolio firm performance. Most empirical literature indicates that the value addition effect dominates the selection effect in accounting for the superior performance of VC funded companies. The panel discussion indicates that the context as well as the experience of the General Partners in the VC firms can influence the way VCs contribute to the efficiency of their portfolio companies.

The meaning of venture capital for financing small scale entrepreneurship

OpenAIRE

Robnik, Lidija

2015-01-01

Due to the appearance of new knowledge and managerial approaches, entrepreneurship has developed substantially and the career of the entrepreneur has become more attractive. Venture capital has become an important source for financing the growth of small enterprises. Venture capital funds are a form of financing intended for prospective dynamic companies that cannot obtain financing from banks. Venture capital takes the form of proprietary capital since it enters the company as a co-owner for...

Characteristics and drivers of venture capital investment activity in Romania

Directory of Open Access Journals (Sweden)

Mihaela DIACONU

2012-07-01

Full Text Available The present paper aims at characterising the venture capital market and identifying factors affecting the venture capital investments activity in Romania in the period 2000-2010. With a view to assessing the intensity of manifestation of various factors on the supply and demand of venture capital we use an econometric model of macroeconomic variables already tested in the literature. We consider, however, that we bring contributions to the approach, by analysing the features of the venture capital market in Romania and impact factors, our work being, at the same time, support in assessing the types of decisions to be adopted by policymakers to the formation of an authentic market and stimulating innovation. Our results indicate that the total R&D intensity is the main determinant of the venture capitals invested in this period in the two phases (for early stages and expansion. A significant incidence, mainly on the supply side, also shows the annual long term real interest rate, while the market capitalisation, the effective marginal tax rate on corporate income, the annual inflation or unemployment rate do not impact on the venture capital. Our recommendations, in terms of formation and development of the venture capital market, look as a priority, strengthening the demand for resources, respectively encouraging of enterprises to innovate, creating of conditions for the supply to be manifested in the seed and start-up stages and the compatibilization of the need for resources with prudential rules by adapting regulations for institutional investors.

Public policy for start-up entrepreneurship with venture capital and bank finance

DEFF Research Database (Denmark)

Keuschnigg, Christian; Nielsen, Søren Bo

2003-01-01

This paper proposes and analyses a model of start-up investment. Innovative entrepreneursare commercially inexperienced and can benefit from venture capital support. Only part ofthem succeed in matching with a venture capitalist while the rest must resort to standard bankfinance. We consider a nu...... a number of policies to promote entrepreneurship and venture capitalbacked innovation.JEL Classification: D82, G24, G28, H24.Keywords: venture capital bank finance, matching, moral hazard, public policy....

An Educational and Entrepreneurial Ecosystem to Actualize Technology-Based Social Ventures

Science.gov (United States)

Mehta, Khanjan; Zappe, Sarah; Brannon, Mary Lynn; Zhao, Yu

2016-01-01

The Humanitarian Engineering and Social Entrepreneurship (HESE) Program engages students and faculty across Penn State in the rigorous research, design, field-testing, and launch of technology-based social enterprises that address global development challenges. HESE ventures are embedded in a series of five courses that integrate learning,…

Competitive advantages in the first product of new ventures

NARCIS (Netherlands)

Song, L.Z.; Benedetto, Di A.C.; Song, Michael

2010-01-01

The new venture launching its first product faces substantial risks and is typically resource-poor. Moreover, failure with the first product is closely related to failure of the new venture itself, as investors seek alternate investments with better track records. While much guidance appears in the

The Perfect Storm of Business Venturing? The Case of Entomology-Based Venture Creation

NARCIS (Netherlands)

Pascucci, S.; Dentoni, D.; Mitsopoulos, D.

2015-01-01

In this paper we discuss how cooperation and trust among entrepreneurs can be challenged when they are dealing with venture creation in the context of radical innovation. Entomology-based foods are considered as one of the most promising innovation in the food sector. However they impose radical

Private equity y venture capital: Diferenciación y principales características

Directory of Open Access Journals (Sweden)

Leonel Arango Vásquez

2015-03-01

Full Text Available El propósito de este artículo es explicar, desde la teoría, dos posibles opciones de financiación que tienen las empresas cuando éstas no pueden acceder a las fuentes tradicionales. La industria del Capital Riesgo surge así como una fuente alternativa de financiación. Esta industria opera a través de vehículos especiales de inversión llamados fondos Private Equity y fondos Venture Capital. En general, los primeros invierten en compañías maduras y desarrolladas, mientras que los segundos lo hacen en empresas nacientes y pequeñas. El ciclo de financiación que proveen estos fondos se estructura en tres etapas principales: captación de recursos, inversión y desinversión. En este artículo se explica la diferencia entre los términos Private Equity y Venture Capital, así como las principales características de las etapas mencionadas.Palabras clave: desinversión; Capital Riesgo; captación de fondos; inversión alternativa; pymes. Private equity and venture capital: Differentiation and main characteristicsAbstractThe purpose of this article with a qualitative approach aims to determine, from the theory the business environment, when companies are not capable to obtain financing through traditional sources, the Private Equity industry is viewed as an alternative source of finance for those companies. This industry operates through special investment vehicles named Private Equity Funds and Venture Capital Funds. In general, the former invest in develop and mature firms, the latter focus on infant and small companies. The financial cycle that these funds supply is structured in three main phases: fundraising phase, investment phase, and divestment phase or exit. This paper explains the difference between Private Equity and Venture Capital, as well as the main characteristics of the mentioned phases; through the methodology of content analysis, which aims to continue the research project of Venture Capital Industry in Colombia

Venture Capital and Cleantech: The wrong model for energy innovation

International Nuclear Information System (INIS)

Gaddy, Benjamin E.; Sivaram, Varun; Jones, Timothy B.; Wayman, Libby

2017-01-01

Venture capital (VC) firms spent over $25 billion funding clean energy technology (cleantech) start-ups from 2006 to 2011. Less than half of that capital was returned; as a result, funding has dried up in the cleantech sector. But as the International Energy Agency warns, without new energy technologies, the world cannot cost-effectively confront climate change. In this article, we present the most comprehensive account to date of the cleantech VC boom and bust. Our results aggregate hundreds of investments to calculate the risk and return profile of cleantech, and we compare the outcomes with those of medical and software technology investments. Cleantech posed high risks and yielded low returns to VCs. We conclude that among cleantech investments, “deep technology” investments—in companies developing new hardware, materials, chemistries, or manufacturing processes—consumed the most capital and yielded the lowest returns. We propose that broader support from policymakers, corporations, and investors is needed to underpin new innovation pathways for cleantech. - Highlights: • A venture capital boom in clean energy technology went bust in 2008. • Cleantech offered high risk and low returns to investors. • Poor performance due to long development time for materials and chemicals. • Breakthrough energy innovations are often not a match for venture capital. • More research on alternative financing and support for cleantech is needed.

The Importance of Venture Capital Financing System in Financing Entrepreneurship: Applications in Turkey

OpenAIRE

Erkan Poyraz; Yusuf Tepeli

2016-01-01

The prominent concept of venture capital is examined as a financing model to the financing of entrepreneurship according to related literature. Venture capital is used with success in developed countries for a long time. Venture capital is a modern financing model that allows entrepreneurs to perform dynamic, creative, and innovative investment ideas as well as management, marketing and business support without requesting financial strength from those entrepreneurs. However, venture capital h...

R & D joint ventures and tacit product market collusion

DEFF Research Database (Denmark)

Martin, Stephen

1996-01-01

It is shown that R & D joint ventures make it more likely that firms will be able to sustain tacit product-market collusion, all else equal......It is shown that R & D joint ventures make it more likely that firms will be able to sustain tacit product-market collusion, all else equal...

Establishing rigour in qualitative radiography research

Energy Technology Data Exchange (ETDEWEB)

Murphy, F.J. [School of Healthcare Professions, University of Salford, Salford M6 6PU (United Kingdom)], E-mail: f.j.murphy@salford.ac.uk; Yielder, J. [Medical Imaging, School of Health Sciences, Unitec, Auckland (New Zealand)

2010-02-15

The vast majority of radiography research is subject to critique and evaluation from peers in order to justify the method and the outcome of the study. Within the quantitative domain, which the majority of medical imaging publications tend to fall into, there are prescribed methods for establishing scientific rigour and quality in order to critique a study. However, researchers within the qualitative paradigm, which is a developing area of radiography research, are often unclear about the most appropriate methods to measure the rigour (standards and quality) of a research study. This article considers the issues related to rigour, reliability and validity within qualitative research. The concepts of reliability and validity are briefly discussed within traditional positivism and then the attempts to use these terms as a measure of quality within qualitative research are explored. Alternative methods for research rigour in interpretive research (meanings and emotions) are suggested in order to compliment the existing radiography framework that exists for qualitative studies. The authors propose the use of an established model that is adapted to reflect the iterative process of qualitative research. Although a mechanistic approach to establishing rigour is rejected by many qualitative researchers, it is argued that a guide for novice researchers within a developing research base such as radiography is appropriate in order to establish the credibility and trustworthiness of a qualitative study.

Establishing rigour in qualitative radiography research

International Nuclear Information System (INIS)

Murphy, F.J.; Yielder, J.

2010-01-01

The vast majority of radiography research is subject to critique and evaluation from peers in order to justify the method and the outcome of the study. Within the quantitative domain, which the majority of medical imaging publications tend to fall into, there are prescribed methods for establishing scientific rigour and quality in order to critique a study. However, researchers within the qualitative paradigm, which is a developing area of radiography research, are often unclear about the most appropriate methods to measure the rigour (standards and quality) of a research study. This article considers the issues related to rigour, reliability and validity within qualitative research. The concepts of reliability and validity are briefly discussed within traditional positivism and then the attempts to use these terms as a measure of quality within qualitative research are explored. Alternative methods for research rigour in interpretive research (meanings and emotions) are suggested in order to compliment the existing radiography framework that exists for qualitative studies. The authors propose the use of an established model that is adapted to reflect the iterative process of qualitative research. Although a mechanistic approach to establishing rigour is rejected by many qualitative researchers, it is argued that a guide for novice researchers within a developing research base such as radiography is appropriate in order to establish the credibility and trustworthiness of a qualitative study.

Finishing touch to joint venture

CERN Multimedia

2003-01-01

"A new process for polishing titanium and its alloys has been announced following an agreement between Bripol (an Anopol/Delmet joint venture) of Birmingham and the European Organisation for Nuclear Reseach (CERN) in Geneva" (1 paragraph).

The relationship between venture capital investment and macro economic variables via statistical computation method

Science.gov (United States)

Aygunes, Gunes

2017-07-01

The objective of this paper is to survey and determine the macroeconomic factors affecting the level of venture capital (VC) investments in a country. The literary depends on venture capitalists' quality and countries' venture capital investments. The aim of this paper is to give relationship between venture capital investment and macro economic variables via statistical computation method. We investigate the countries and macro economic variables. By using statistical computation method, we derive correlation between venture capital investments and macro economic variables. According to method of logistic regression model (logit regression or logit model), macro economic variables are correlated with each other in three group. Venture capitalists regard correlations as a indicator. Finally, we give correlation matrix of our results.

Joint Ventures: The Promise, Power and Performance of Partnering.

Science.gov (United States)

Francisco, Grace; Hannah, Kathryn Covier; Keller, Shelly G.; Waters, Joan; Wong, Patricia M. Y.

This document provides case studies that represent a sampling of successful public library joint ventures in California and other U.S. cities and counties. Chapter 1 defines what a partnership is and how a joint venture differs from a partnership. It also describes the benefits of partnering, the knowledge, attitude, and skills required, and how…

THE IMPROVEMENT OF THE CONCEPT OF THE EFFICIENCY OF VENTURE BUSINESS'S ATTRACTION

Directory of Open Access Journals (Sweden)

А. Cherednik

2017-08-01

Full Text Available The concept of the efficiency of venture business’s attraction was improved in the article. The theoretical foundations of venture business’s concept were explored, four approaches to venture business’s understanding were singled out, and its own definition which fully reflects the essence was developed in the investigation. The author examines the existing approaches to the concepts of effect and efficiency and revealed that efficiency is the ratio of the effect obtained to the costs incurred to achieve it. Also, the author developed the concept of effectiveness of venture business’s attraction.

How Does Firm Survival Differ between Business Takeovers and New Venture Start-Ups?

NARCIS (Netherlands)

G. Xi (Guoqian); J.H. Block (Jörn); F. Lasch (Frank); F. Robert (Frank); A.R. Thurik (Roy)

2017-01-01

textabstractFocusing on entrepreneurship entry modes, we investigate two research questions regarding firm survival: how does the survival probability differ between business takeovers and new venture start-ups? And how do the determinants of survival differ between the two entry modes? Using a

Product Innovation in Sustainability-Oriented New Ventures : A Process Perspective

NARCIS (Netherlands)

Keskin, D.

2015-01-01

Despite the recognition that new ventures are potential candidates of creating innovations necessary for sustainability, little is know on how they actually engage in this journey. Sustainability-oriented new ventures are confronted with high levels of uncertainty that stem from the liabilities of

Issues and Challenges on Venturing into Facebook Commerce

OpenAIRE

Caroline Sumathi; Manimekalai Jambulingam; Gobindran Raj Rajagopal

2015-01-01

The study examines the challenges encountered by small entrepreneurs when venturing into Facebook commerce. Social media has revolutionized not only our daily lives, but also the business world. This study involved 50 small entrepreneurs and adopted mixed method of quantitative and qualitative designs to collect data. The study revealed that lack of IT knowledge and set of cost significantly affected the respondents ‘decision to venture into Facebook commerce. However, many small entrepreneur...

24 CFR 943.151 - What procurement standards apply to a joint venture itself?

Science.gov (United States)

2010-04-01

... a joint venture itself? 943.151 Section 943.151 Housing and Urban Development Regulations Relating... HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PUBLIC HOUSING AGENCY CONSORTIA AND JOINT VENTURES Subsidiaries, Affiliates, Joint Ventures in Public Housing § 943.151 What procurement standards apply to a...

Gender and venture capital decision-making: the effects of technical background and social capital on entrepreneurial evaluations.

Science.gov (United States)

Tinkler, Justine E; Bunker Whittington, Kjersten; Ku, Manwai C; Davies, Andrea Rees

2015-05-01

Research on gender and workplace decision-making tends to address either supply-side disparities between men's and women's human and social capital, or demand-side differences in the status expectations of women and men workers. In addition, this work often relies on causal inferences drawn from empirical data collected on worker characteristics and their workplace outcomes. In this study, we demonstrate how tangible education and work history credentials - typically associated with supply-side characteristics - work in tandem with cultural beliefs about gender to influence the evaluative process that underlies venture capital decisions made in high-growth, high-tech entrepreneurship. Using an experimental design, we simulate funding decisions by venture capitalists (VCs) for men and women entrepreneurs that differ in technical background and the presence of important social ties. We demonstrate the presence of two distinct aspects of VCs' evaluation: that of the venture and that of the entrepreneur, and find that the gender of the entrepreneur influences evaluations most when the person, rather than the venture, is the target of evaluation. Technical background qualifications moderate the influence of gendered expectations, and women receive more of a payoff than men from having a close contact to the evaluating VC. We discuss the implications for future research on gender and work. Copyright © 2014 Elsevier Inc. All rights reserved.

The importance of trust for investment : Evidence from venture capital

NARCIS (Netherlands)

Bottazzi, L.; Da Rin, Marco; Hellmann, T.

We examine the effect of trust in venture capital. Our theory predicts a positive relationship of trust with investment, but a negative relationship with success. Using a hand-collected dataset of European venture capital deals, we find that the Eurobarometer measure of trust among nations

Cost Accounting of Venture Company Depending on the Stage of Its Life Cycle

OpenAIRE

Olha Usatenko

2015-01-01

The purpose of the article is to identify groups of costs that are inherent in life-cycle stages of venture companies and which directly are the objects of accounting. The author distinguishes stages of the life cycle of the venture company with an indication of the degree of risk and the need for venture capital, which determine the accounting tasks required to reflect it. The model of lifecycle accounting of venture company is grounded. The conventional range of expected return on the inves...

There's no profiting from a joint venture misadventure.

Science.gov (United States)

Herschman, Gary W

2004-10-01

In St. David's vs. IRS, a not-for-profit health system effectively challenged the IRS's determination that the system should be disqualified from tax exemption because it had entered a 50/50 joint venture with a for-profit system. The court decisions in St. David's, coupled with a recent IRS ruling, Revenue Ruling 2004-51, provide insight into how a not-for-profit hospital can structure such a joint venture to avoid jeopardizing its tax-exempt status.

Value contributions of the venture capitalist in Mexico: building an exit for the investment

Directory of Open Access Journals (Sweden)

Enrique Wiencke

2017-10-01

Full Text Available Venture capitalists provide money and non-monetary contributions to high-growth ventures to help them become great companies. Although it is known that these contributions have an impact on the growth of the firm, little is known in Mexico of their nature, how they get into the venture, and how they contribute to the development of the company. The present article reports a proposed substantive theory that explains how the venture capitalist work hand in hand with the entrepreneur to grow the company. This substantive theory emerged from data collected through interviews to nine venture capitalists and nine entrepreneurs, and analyzed as proposed by the grounded theory methodology. The resulting substantive theory acknowledges that contributions of venture capitalists, often called value-added, are relative to building an exit for the investment.

Venture capital and risk management: evidence from initial public offerings

Directory of Open Access Journals (Sweden)

Charles E. Bamford

2012-03-01

Full Text Available In this study we analyze a sample of initial public offerings (IPOs to infer the sources of firm-specific risk associated with investment by venture capitalists. The results indicate that IPO backing by venture capitalists is associated with risk factors related to operating profit margins and ongoing sales generation, but not operational financing. The results also indicate that venture-backed IPOs are associated with greater reductions in firm-specific risk over the course of a year that includes the date of the IPO. In sum, the findings suggest venture capitalists are willing to accept higher levels of uncertainty in those instances where they have an advantage in terms of managerial skill, and are able to reduce firm-specific risk subsequent to investment in order to maximize returns when they cash out. Our study also makes use of proxies that are representative of the ex-ante nature of firm-specific risk at the time of a new issue

Current status and trends, organizational methods accounting and analysis of innovative enterprises’ venture financing

Directory of Open Access Journals (Sweden)

S.V. Rudeychuk

2016-09-01

Full Text Available The article examines the specific features and tendencies of development of venture financing in Ukraine. It shows the role of venture capital in the further development of Ukraine economy, this role is in financing and development of innovation, distribution of new technologies and increase of employment of highly professional staff in the territory of Ukraine. The authors determine the influence of characteristics of such financing on the formation of organization and methods of accounting and economic analysis of operations with venture capital investments. The paper grounds the necessity of accounting development and analytical support of innovative enterprises’ venture financing management; the state is caused by the need to attract additional funding from venture investors to finance the production and release of innovative products and businesses. The authors determine the directions of solving problems in accounting organization and methods and economic analysis of innovative enterprises’ venture financing, respectively, for the needs of all entities doing business venture and taking into account the peculiarities of this type of investment capital.

The Emergence of an International New Software Venture from an Emerging Economy

DEFF Research Database (Denmark)

Turcan, Romeo V.; Fraser, Norman

2012-01-01

This study is positioned at the intersection of legitimation and international entrepreneurship theories. It is a longitudinal ethnographic case study that explores the process of emergence of an international new software venture from an emerging economy and the effect this venture has on the pr......This study is positioned at the intersection of legitimation and international entrepreneurship theories. It is a longitudinal ethnographic case study that explores the process of emergence of an international new software venture from an emerging economy and the effect this venture has...... invoking familiar cues and scripts, promote and defend incentives and operating mechanisms in political negotiations, and overcome the country-of-origin effect by pursuing a technology legitimation strategy....

Empirical Analysis of Hungarian Firms According to Venture Capital Investment Criteria

Directory of Open Access Journals (Sweden)

Futó Judit Edit

2016-06-01

Full Text Available Over the past decade the venture capital industry has become more and more prominent, not just on a global level, but in Hungary, too. Thanks to the JEREMIE Program a large number of new venture capital firms are located in our country, and therefore an investment wave has started. The aim of the paper is to sort micro- and small sized enterprises in terms of how appropriate is a venture capital financing. The main topic of the paper relates to the selection of firms for venture capital investment; therefore, in the first part of the study we briefly summarize a general venture capital investment process, highlighting both the selection process and the criteria used for selection. Then we propose 3 indexes (trustworthiness index, openness index, investment index, which we have created to help venture capitalists to decide whether the targeted enterprises are appropriate for them, or not. In the main part of the paper we provide a classification of micro- and small sized Hungarian firms based on my own survey, and we analyze what kind of relationship exists between the proposed indexes and the type of the classified firms. The result of the classification is that we identify four main firm types and, based on statistical tests, it can be said that there is no significant relationship between the trustworthiness index and the clusters, but that there are between the two other indexes and the clusters.

Russian joint ventures, upstream deals hit fast clip

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports that Russia is stepping up the pace of joint ventures and imports of petroleum technology and hardware. Among the latest action: Polar Lights, a 50-50 venture of Conoco Timan-Pechora Ltd. and Arkhangelskgeologia (AAG), started drilling in the first new-field oil-development project in Russia to include a US partner; The governments of Oman and the Kazakhstan republic signed an agreement covering oil and gas exploration, field development, and production in Kazakhstan; Phibro Energy Inc., Greenwich, Conn., last week reported the sale and delivery of the first full cargo of Russian crude oil produced and exported by a Russian-American joint venture; Era Aviation Inc., Anchorage, Alas., is sending two helicopters with crewmen to Russia to help assess the feasibility of oil and gas development off Sakhalin Island; In deals involving Canadian companies, SNC-Lavalin Inc., Montreal, received a contract for initial work on a $350 million (US) modernization of the Volvograd refinery in southern Russia

Perestroika, Soviet oil, and joint ventures

International Nuclear Information System (INIS)

Churkin, M. Jr.

1991-01-01

Glaznost, the freedom of expression in both the public and private sectors of the Soviet Union, has rapidly transformed the country form a largely isolated and closed society to one that is rapidly becoming more cosmopolitan and open to the West. Now that the Soviet Union is moving toward a free-market economy, a number of new laws are being generated to create a favorable environment for Western investment, especially joint ventures. First, crude oil sales have provided over 75% of much-needed hard currency, and oil has been the principal barter for manufactured goods produced in eastern Europe. Second, joint oil ventures with Western companies can reverse declining production levels and provide sufficient stimulus to turn around the economic recession. The Soviet Union has a very large inventory of discovered but undeveloped oil and gas fields. Most of these fields are difficult for the Soviets to produce technically, financially, and environmentally safely, and they are actively seeking appropriate Western partners. From an exploration point of view, the Soviet Union has probably the largest number of undrilled and highly prospective oil basins, which may replenish declining reserves in the West. Finally, the Soviet Union represents in the long term a large unsaturated market eager to absorb the surplus of goods and services in the Western world. Again, joint oil ventures could provide the convertible currency to increase East-West trade

Biofuels are (Not the Future! Legitimation Strategies of Sustainable Ventures in Complex Institutional Environments

Directory of Open Access Journals (Sweden)

Neil A. Thompson

2018-04-01

Full Text Available Sustainable ventures often lack legitimacy (perceived to be desirable and appropriate because various stakeholder groups use contradictory institutions (rules and norms to make their judgements, which leads to there being fewer resources available and higher failure rates. Using an institutional theory framework and a multi-case research design with 15 biofuel ventures operating in the Netherlands, this study asks how sustainable entrepreneurs attempt to gain legitimacy in these circumstances. Analysis reveals that the entrepreneurs use a combination of rhetorical, reconciliatory and institutional change strategies to obtain legitimacy from different stakeholder groups. These findings further our understanding of sustainable entrepreneurial behavior by revealing how and why different legitimation strategies are used in complex institutional environments.

Nascent ventures competing for start-up capital: matching reputations and investors

NARCIS (Netherlands)

Ebbers, J.J.; Wijnberg, N.M.

2012-01-01

Although nascent ventures have not yet developed a performance-based reputation, the individual reputations of their founders, based on the performance of their earlier ventures, can function as important signals to investors. Selection system theory distinguishes between different types of

Human ResourceManagement Practices and Organizational Performance: Evidence from Japanese and US Subsidiaries/Joint Venture in Bangladesh

Directory of Open Access Journals (Sweden)

Mohammad Khasro Miah

2017-05-01

Full Text Available The purpose of this research is to examine the conditions of home and host country culture as well as country of origin effect of HRM practices and its result on organizational performance (OP. The empirical findings showed that Japanese and U.S subsidiaries and joint ventures adapt localization practices with their modifying home host technique with the local business environment. The findings recommend that managers in the US and Japanese subsidiaries and joint ventures in Bangladesh are more strongly influenced by its host country’s national culture (as an adoptive host country national and corporate culture. Finally, it can be stated that foreign subsidiaries and joint ventures are trying to achieve the location advantage to create a particular type of HRM practices, with a combined and confined HRM practice that can fit for better organizational performance.

A critical analysis of the influence of start-up factors in small businesses and entrepreneurial ventures in SA

Directory of Open Access Journals (Sweden)

J. J. Van Vuuren

2007-12-01

Full Text Available Purpose: This paper focuses on a critical analysis of the influence of start-up factors in small businesses and entrepreneurial ventures in Gauteng, a province in South Africa. Problem investigated: Owing to the low economic growth, high unemployment, and an unsatisfactory level of poverty in South Africa, entrepreneurship becomes a critical solution for the starting and developing of small businesses. Although the South African Government are constantly improving in eliminating barriers to potential start-ups, South Africa's TEA is not up to standard if it wants to sustain economic growth rates that will create wealth for everybody. Various factors influence and play a role in the establishment and operation of small businesses and entrepreneurial ventures. Design/methodology/approach: An ex-post facto, formal research design was used as respondents were requested to indicate on a four-point scale how important they deemed 37 items in a structured personal interview. A sample of 312 elements was included in the research. The data was analysed through a factor analysis and analysis of variance. Findings: Four factors were identified that influence the start-up of small businesses and entrepreneurial ventures. They are: personal management and involvement; role models; effective time management; and support from partners and advisors. It is very clear that there is a definite difference in the needs and factors influencing: women and male entrepreneurs; the age of entrepreneurs and the stage of the business in its life cycle.Value of research: By analysing the factors that influence start-up, it can make potential entrepreneurs aware of theimportance of considering these factors in the start-up and growth of their businesses. Conclusion: The findings of this research are in line with similar international research (Mazzarol et al., 1999 and Deakins & Freel, 2003 on various aspects influencing the start-up of businesses. Although a lot of support

Management Approach for Earth Venture Instrument

Science.gov (United States)

Hope, Diane L.; Dutta, Sanghamitra

2013-01-01

The Earth Venture Instrument (EVI) element of the Earth Venture Program calls for developing instruments for participation on a NASA-arranged spaceflight mission of opportunity to conduct innovative, integrated, hypothesis or scientific question-driven approaches to pressing Earth system science issues. This paper discusses the EVI element and the management approach being used to manage both an instrument development activity as well as the host accommodations activity. In particular the focus will be on the approach being used for the first EVI (EVI-1) selected instrument, Tropospheric Emissions: Monitoring of Pollution (TEMPO), which will be hosted on a commercial GEO satellite and some of the challenges encountered to date and corresponding mitigations that are associated with the management structure for the TEMPO Mission and the architecture of EVI.

REGIONAL VENTURE FUND OF THE URAL FEDERAL DISTRICT: CREATION AND STRATEGY OF DEVELOPMENT

Directory of Open Access Journals (Sweden)

N.A. Victorov

2007-03-01

Full Text Available The article describes both types of Russian venture funds and forms of the state participation in venture investment. Besides, the article mentions the scheme of regional venture fund creation in Ural district, principles of its participants` interaction and some management issues. Moreover, we can see here the fund's development which includes market, technological, integration and investment components.

24 CFR 943.148 - What procurement standards apply to PHAs selecting partners for a joint venture?

Science.gov (United States)

2010-04-01

... PHAs selecting partners for a joint venture? 943.148 Section 943.148 Housing and Urban Development... VENTURES Subsidiaries, Affiliates, Joint Ventures in Public Housing § 943.148 What procurement standards apply to PHAs selecting partners for a joint venture? (a) The requirements of part 85 of this title are...

24 CFR 943.150 - What procurement standards apply to a PHA's joint venture partner?

Science.gov (United States)

2010-04-01

... a PHA's joint venture partner? 943.150 Section 943.150 Housing and Urban Development Regulations... HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PUBLIC HOUSING AGENCY CONSORTIA AND JOINT VENTURES Subsidiaries, Affiliates, Joint Ventures in Public Housing § 943.150 What procurement standards apply to a PHA...

Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs

OpenAIRE

Paul Gompers; Anna Kovner; Josh Lerner; David Scharfstein

2006-01-01

This paper argues that a large component of success in entrepreneurship and venture capital can be attributed to skill. We show that entrepreneurs with a track record of success are more likely to succeed than first time entrepreneurs and those who have previously failed. Funding by more experienced venture capital firms enhances the chance of success, but only for entrepreneurs without a successful track record. Similarly, more experienced venture capitalists are able to identify and invest ...

Endovascular repair of aortic disease: a venture capital perspective.

Science.gov (United States)

Buchanan, Lucas W; Stavropoulos, S William; Resnick, Joshua B; Solomon, Jeffrey

2009-03-01

Endovascular devices for the treatment of abdominal and thoracic aortic disease are poised to become the next $1 billion medical device market. A shift from open repair to endovascular repair, advances in technology, screening initiatives, and new indications are driving this growth. Although billion-dollar medical device markets are rare, this field is fraught with risk and uncertainty for startups and their venture capital investors. Technological hurdles, daunting clinical and regulatory timelines, market adoption issues, and entrenched competitors pose significant barriers to successful new venture creation. In fact, the number of aortic endografts that have failed to reach commercialization or have been pulled from the market exceeds the number of Food and Drug Administration-approved endografts in the United States. This article will shed some light on the venture capital mind-set and decision-making paradigm in the context of aortic disease.

Mapping network development of international new ventures with the use of company e-mails

NARCIS (Netherlands)

Wakkee, I.A.M.

2006-01-01

International new ventures use e-mail frequently to communicate with globally dispersed contacts. In this paper we present and discuss a qualitative research method to map international network development based on company e-mails. Our approach also allows for combinations of inductive and deductive

JOINT VENTURE: STRATEGY TO OBTAINTHE MANAGERIAL COMPETITIVENESS IN PERU

OpenAIRE

Maguiña F., Raúl

2014-01-01

This article proposes a managerial competitiveness strategy using the Joint- Venture enterprise, rising out of alliances linking business units, by analizing its making-up process through legal and clear compromise requirements, framed within the peruvian law, and with the purpose of getting feasibility of various investment projects, in any production sector in our country. El artículo propone una estrategia de competitividad empresarial utilizando el joint venture, a partir de alianzas q...

Health care joint ventures between tax-exempt organizations and for-profit entities.

Science.gov (United States)

Sanders, Michael I

2005-01-01

Health care exempt organizations have many options regarding their structure and affiliations with for-profit entities. As long as any joint ventures are carefully structured and the nonprofit retains control over the exempt health care activities, the Internal Revenue Service should not question the structure. However, as outlined above, if the for-profit entity effectively gains control over the activities of the venture, the structure is not likely to be upheld by the IRS or the courts, and either the exempt status of the nonprofit will be denied or revoked, or health care income will be subject to the unrelated business income tax. In summary, the health care industry has been severely impacted by many economic forces, including uncertainty in the area of joint ventures between nonprofits and for-profit health care systems. The uncertainty as to whether the joint venture would negatively impact the nonprofit's tax-exempt status undoubtedly caused many nonprofits to form for-profit subsidiaries and otherwise expanded operations in a for-profit marketplace. Fortunately, with the guidance that is currently available in the form of Revenue Ruling 98-15, Redlands, St. David's, and now Revenue Ruling 2004-51, health care institutions can move forward with properly structured joint ventures with greater confidence that the joint venture will not endanger the tax-exempt status of the nonprofit.

Venture Capital and Leveraged Buyout: What Is the Difference in Eastern Europe? – A Cross-Country Panel Data Analysis

Directory of Open Access Journals (Sweden)

Mihai Precup

2017-12-01

Full Text Available The aim of this paper is to compare the determinants of leveraged buyout activity, respectively venture capital activity in Eastern European countries. Additionally, this paper presents the main highlights in terms of evolution of leveraged buyout investments and venture capital investments during the recent crisis in the European emerging countries. The panel data analysis used in this paper will include determinants consecrated in previous studies such as GDP growth, market capitalization or R&D expenditures, as well as new variables such as productivity and corruption index. In order to estimate a panel data model with fixed and random effects, we collected data on leveraged buyout activity, respectively venture capital activity in Eastern European countries over the period 2000-2013. This paper will follow the methodology developed by Gompers and Lerner (1998, Jeng and Wells (2000, Romain and de La Potteria (2004, Félix (2007 and Bernoth and Colavecchio (2014. The present research paper shows that the LBO and the venture capital are differently affected by macroeconomic conditions. Based on our empirical results, we have pointed several strategic directions that are meant to support the development of the leveraged buyout and venture capital markets in Eastern Europe. 

Selling Knowledge? R&D Soothsayers and High Priests of Venture Capital Are in the Temple of the Academy.

Science.gov (United States)

Earls, Alan Robert

2001-01-01

Discusses the commercialization of academic research at New England's colleges and universities. Describes the origins of the trend, the region's leadership in research funding, the role of venture capital and business incubators in academic research, and the long-term impacts. Includes tables of research and development spending and patents…

The advantage of experienced start-up founders in venture capital acquisition: evidence from serial entrepreneurs

OpenAIRE

Zhang, Junfu

2007-01-01

Existing literature suggests that entrepreneurs with prior firm-founding experience have more skills and social connections than novice entrepreneurs. Such skills and social connections could give experienced founders some advantage in the process of raising venture capital. This paper uses a large database of venture-backed companies and their founders to examine experienced founders' access to venture capital. Compared to novice entrepreneurs, entrepreneurs with venture-backed founding expe...

Fiscal 2000 achievement report on the analysis of factors contributing to the development of venture firms in the U.S. and Europe in the domain of energy technology, and survey of the actualities of venture firms in the Asian region (China) and the feasibility of their coordination with Japan; 2000 nendo energy gijutsu bun'ya ni okeru venture kigyo no hatten yoin bunseki oyobi Asia chiiki (Chugoku) ni okeru venture kigyo no jittai to Nippon tono renkei no kanosei ni kansuru chosa

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-03-01

In search of measures to take for raising, developing and integrating venture firms, studies are made about the process and factors of growth after the corporatization of venture firms in the U.S. and Europe, and then about the mechanism of industrial integration in newly-arising high technology- and novel industry-intensive areas and the actualities of strategic clustering. In China, studies are made about feasibility of coordination with Japan. Activities are conducted in the four domains of (1) the analysis of development and growth factors after launching a venture firm in the U.S., (2) analysis of factors contributing to the development of industrial integration in newly-arising high-technology areas, (3) actualities of assistance to ventures in Europe, and (4) the survey of venture trends in China. In domain (4), venture firm creating, raising, and assisting conditions are studied. Also studied are the actual state of venture firm creating, raising, and assisting, and some cases of venture firm creation and raising. (NEDO)

Interdependency in joint ventures: The relationship between dependency asymmetry and performance

NARCIS (Netherlands)

Kemp, R.G.M.; Ghauri, P.N.

2001-01-01

This paper reports the results of a survey on joint venture collaborations. It focuses on the relations between the level and intensity of conflict, trust and norms of exchange, and ultimately the performance of a joint venture, in case of dependency asymmetry between the partners. In management

How do new ventures in MNC ecosystems proactively overcome interfirm asymmetries?

Directory of Open Access Journals (Sweden)

Shameen Prashantham

2011-09-01

Full Text Available Several contemporary large multinational corporations (MNCs have developed interfirm ecosystems that are likely to attract a heterogeneous set of actors, including new ventures. New ventures are asymmetric vis-à-vis the focal MNC in terms of organisational size, structure and power which could be an impediment to the development of social capital between these sets of firms. And yet MNCs are potentially a source of novel information, opportunities and ideas. An interesting question to consider therefore is how new ventures overcome interfirm asymmetries to develop and leverage social capital with large MNCs. Our synthesis of the academic literature suggests that some new ventures are more adept than others at partnering with MNCs because they are more proactive in forming and leveraging interfirm ties with large MNCs. Insightful observations of four panellists shed light on how startups’ proactive behaviours can be vitally important in forming, consolidating and extending relationships with large MNCs.

HOW DOES THE JEREMIE PROGRAM AFFECT THE HUNGARIAN VENTURE CAPITAL MARKET?

Directory of Open Access Journals (Sweden)

Zsuzsanna Széles

2011-01-01

Full Text Available In the 2007-2013 EU's budgetary period a new program was introduced for SMEs. JEREMIE - Joint European Resources for Micro to medium Enterprises - offers to EU Member States and regions the possibility to invest some of their EU structural funds allocations in revolving funds and so recycle financial resources in order to enhance and accelerate investments in enterprises. The market for venture capital and private equity is relatively small in Central and Eastern Europe, but has matured during the past decade and yields are better than in Western Europe. In 2009 Hungary got the first notification for the venture capital part of the JEREMIE program, and started to organize the channel to distribute this renewable source for Hungarian start-up and innovative (from micro to medium enterprises. 2010 was the first year of the “JEREMIE venture capital funds” in Hungary. There are no tangible results yet, but a snapshot could be taken about how this program affects the Hungarian venture capital market.

The Impact of Institutional Settings on Learning Behavior by Venture Capitalists and Start-Ups

DEFF Research Database (Denmark)

Gatti, Anna; Vendelø, Morten Thanning

2005-01-01

differen-ces in local institutional settings affect learning and adaptation by European venture ca-pitalists and start-ups, and thus, affect the processes of field formation. For example, it has been observed that institutional settings can facilitate or discourage learning from direct experience (Herriot...... is to understand if and how US venture capitalism affect the evolvement of venture capitalism in Europe. We study the emergence of a venture capitalist industry in Denmark and Italy, and thus, by selecting two countries with distinctive differences in cultures and institutions, we study learning and adaptation...

>venture>: Support for Early Stage Start-ups and Potential Entrepreneurs.

Science.gov (United States)

Kauz, Lukas

2014-12-01

>venture>, the leading Swiss-wide business plan competition, is an ideal partner for young start-ups and entrepreneurs. For the upcoming tenth anniversary edition the competition will receive an update. Building upon a successful base of the past nine editions and equipped with contemporary networking events and more know-how transferring seminars, >venture> will fit even better into the Swiss start-up ecosystem.

Determinants of Success in Private Equity-Venture Capital Investments

OpenAIRE

Antonio Gledson de Carvalho; Eduardo Madureira Rodrigues Siqueira; Humberto Gallucci Netto

2011-01-01

This paper investigates the determinants of performance of the investments of private equity and venture capital (PEVC) funds in Brazil. We use two unique databases: the First Brazilian Private Equity and Venture Capital Census and the Guia-GVcepe Endeavor, with information on this industry for the period 1999 to 2007. As measures of performance we use the percentage and number of exits through IPO, acquisition by a company or by another investor. Our results indicate that the factors influen...

'Soft' human resource management in small international joint ventures

DEFF Research Database (Denmark)

Dao, Li

2012-01-01

This paper examines the value creation aspects of HRM in international joint ventures of a relatively small size and their implications for strategic management. We assume that HRM in this context is rather a process than a function, and a ‘soft’ – humanistic rather than a ‘hard’, instrumentalist...... of joint venture autonomy. A conceptual framework developed from these empirical insights invites further generalizing efforts, and more importantly, contributes to a dynamic understanding of HRM in small IJVs....

Capitalizing on Crisis: Venture Philanthropy's Colonial Project to Remake Urban Education

Science.gov (United States)

Lipman, Pauline

2015-01-01

This article focuses on the increased power of venture philanthropy to shape education in urban communities of color in the USA. The author situates venture philanthropy's expanded influence in urban school districts in the nexus of urban disinvestment, neoliberal governance, wealth concentration, and economic crisis. The author argues that…

Texaco, carbide form hydrogen plant venture

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports that Texaco Inc. and Union Carbide Industrial Gases Inc. (UCIG) have formed a joint venture to develop and operate hydrogen plants. The venture, named HydroGEN Supply Co., is owned by Texaco Hydrogen Inc., a wholly owned subsidiary of Texaco, and UCIG Hydrogen Services Inc., a wholly owned subsidiary of UCIG. Plants built by HydroGEN will combine Texaco's HyTEX technology for hydrogen production with UCIG's position in cryogenic and advanced air separation technology. Texaco the U.S. demand for hydrogen is expected to increase sharply during the next decade, while refinery hydrogen supply is expected to drop. The Clean Air Act amendments of 1990 require U.S. refiners to lower aromatics in gasoline, resulting in less hydrogen recovered by refiners from catalytic reforming units. Meanwhile, requirements to reduce sulfur in diesel fuel will require more hydrogen capacity

Research Establishment Risoe 1975/76

International Nuclear Information System (INIS)

1976-11-01

A summary of the chief activities of the research establishment Risoe is given. These are roughly divided into sections dealing with nuclear technology, applied research, basic research, and research facilities and auxiliary services. For more detailed descriptions of the work in progress, readers are referred to the annual reports published in the two report series, as well as to articles appearing in scientific journals. A selected list of staff publications is given, and the design data on research facilities are presented. (B.P.)

Addressing Canada's Commercialization Crisis and Shortage of Venture Capital: Will the Federal Government’s Solution Work?

Directory of Open Access Journals (Sweden)

Stephen A. Hurwitz

2013-09-01

Full Text Available Lack of funding is a major challenge to innovation in Canada’s emerging technology industry. This article will focus on this supply-side challenge within the complex venture capital ecosystem and discuss: i the current shortage of venture capital available to commercialize Canada’s R&D; ii the causes and consequences of that venture capital shortage; iii how the federal government will address this shortage through its innovative 2013 Venture Capital Action Plan, which commits $400 million and seeks to raise at least another $800 million from outside investors; and iv how a separate decision in the federal 2013 budget to phase out federal tax credits for labour-sponsored venture capital funds could imperil the 2013 Venture Capital Action Plan.

Evolution of the uranium joint venture

International Nuclear Information System (INIS)

Bloomenthal, H.S.

1976-01-01

This paper concentrates on the economic realities of the joint venture in order to anticipate the basic problems that will be encountered so as to permit legislating by contrast how the problems are to be handled as between the parties

MIT Experiments with Joint Venture Contract.

Science.gov (United States)

American School and University, 1981

1981-01-01

A new dormitory at Massachusetts Institute of Technology was constructed using a joint venture contract with safeguards and incentives that brought university, architect, and building contractor into a closer and more productive relationship than under conventional contract arrangements. (Author/MLF)

VENTURE-PC 1.1, Reactor Analysis System with Sensitivity and Burnup

International Nuclear Information System (INIS)

2002-01-01

1 - Description of program or function: The VENTURE program solves the usual neutronics eigenvalue, adjoint, fixed source, and criticality search problems. It treats up to three dimensions, maps power density, and does first-order perturbation analysis at the macroscopic cross section level. The BURNER code solves the nuclide chain equations to estimate the nuclide concentrations and burnup at the end of an exposure time or after a shutdown period. This package is based on the CCC-459/BOLD VENTURE IV code system developed at Oak Ridge National Laboratory. In January 1989 the University of Cincinnati contributed the first VENTURE-PC package to RSICC's collection. It was a subset of the mainframe version consisting of the VENTURE and BURNER modules plus several processing modules. VENTURE-PC was distributed as CCC-459 until July 1997 when a new version (with updated source code compatible with newer FORTRAN-77 compilers, some revisions, and extensions to solve much larger problems) was contributed by Argonne National Laboratory. The principle code modules included in the VENTURE-PC system are: VENTURE: Multigroup neutronics finite-difference diffusion theory. BURNER: Depletion calculation for reactor core analysis. Other modules within VENTURE-PC are: DVENTR: Venture input processor; DCRSPR: Neutron cross section processor; DUTLIN: Control file (CNTRL) input processor; DCMACR: Citation format cross section input processor; CRXSPR: Cross section processor; DENMAN: Fuel repositioning module. In August of 1999, Argonne again contributed an updated version of the code which overcomes problem size constraints caused by binary record length limits inherent to the Fortran 90 compiler. The need for long records is detected and avoided by sub-blocking them. Also, the latest Fortran 95 compiler offers substantial speed gains on the newest processors. The source code is updated to be compatible with either Fortran 90 or Fortran 95. In August 2002, the package was updated with

A venture capital view of superconductivity electronics

International Nuclear Information System (INIS)

Kressel, H.

1987-01-01

Many venture capital backed start-up companies have followed major technological innovations in recent years. However, the field of electronics based on the use of superconducting devices (i.e. the Josephson Junction) has been a noteworthy exception. Until 1983, the bulk of the American development effort on superconductivity electronics was conducted by IBM where the focus was to demonstrate the feasibility of a superconducting computer prototype. Other activities using Josephson Junctions involved the development and production of magnetic sensing instruments and modest quantities of magnetometers which were marketed by several very small companies primarily for laboratory use. In addition, other applications in radiation sensing and biomagnetism and research leading to practical systems were ongoing in several organizations

National companies : performance, ventures, utility

International Nuclear Information System (INIS)

Didier, F.

1994-01-01

The author shows how a performing National Company can efficiently contribute, in line with the producing State, to the negotiation with International Companies and the success of large oil ventures contemplated by reserves-short countries. Fully entrepreneurial, the National Company will usefully ''explore'' touchy matters, and bring closer national rationale and petroleum rationale. (Author)

Trends in U.S. Venture Capital Investments Related to Energy: 1980 through the Third Quarter of 2010

Energy Technology Data Exchange (ETDEWEB)

Dooley, James J.

2010-11-08

This report documents trends in U.S. venture capital investments over the period 1980 through the third quarter of calendar year 2010 (2010 Q1+Q2+Q3). Particular attention is given to U.S. venture capital investments in the energy/industrial sector over the period 1980-2010 Q1+Q2+Q3 as well as in the more recently created cross-cutting category of CleanTech over the period 1995-2010 Q1+Q2+Q3. During the early 1980s, U.S. venture capital investments in the energy/industrial sector accounted for more than 20% of all venture capital investments. However subsequent periods of low energy prices, the deregulation of large aspects of the energy industry, and the emergence of fast growing new industries like computers (both hardware and software), biotechnology and the Internet quickly reduced the priority accorded to energy/industrial investments. To wit, venture capital investments related to the energy/industrial sector accounted for only 1% of the $132 billion (in real 2010 US$) invested in 2000 by the U.S. venture capital community. The significant increase in the real price of oil that began in 2003-2004 correlates with renewed interest and increased investment by the venture capital community in energy/industrial investment opportunities. Venture capital investments for 2009 for the energy/industrial sector accounted for $2.4 billion or slightly more than 13% of all venture capital invested that year. The total venture capital invested in energy/industrial during the first three quarters of 2010 is close to $2.4 billion accounting for slightly less than 15% of all venture capital investments during the first three quarters of 2010. In 2009, the aggregate amount invested in CleanTech was $2.1 billion (11% of the total US venture capital invested in that lean year) and for the first three quarters of 2010 US venture capital investments in CleanTech have already exceeded $2.8 billion (18% of all US venture capital investments made during the first three quarters of

Entrepreneurial orientation and new venture performance : The mediating effect of network strategies

NARCIS (Netherlands)

Stam, Wouter; Elfring, T.

2006-01-01

While entrepreneurship scholars have generally examined the direct effects of entrepreneurial orientation (EO) on the performance of new ventures, we build on recent calls for a contingency framework and propose that ventures' network strategies intervene in the EO-performance relationship. Drawing

Personnel decision-making in wholly-owned foreign subsidiaries and in international joint ventures.

OpenAIRE

Zeira Y; Shenkar O

1986-01-01

ILO pub. Working paper, research report on personnel management decision making in foreign owned subsidiarys of multinational enterprises and international joint ventures - discusses legal aspects, the role of absentee top management, host country employers organizations and other interest groups, etc.; examines employees attitudes, management attitudes, trade union attitudes government attitude, particularly regarding workers participation, recruitment and promotion. References, statistical ...

The significance of psychology and environment dimensions for Malaysian Muslim women entrepreneurships venturing

OpenAIRE

Norudin bin Mansor; Azman Bin Che Mat

2010-01-01

The decision to venture into business is relatively differ from each entrepreneur. Some are attracted to the pulling factors while others may be geared based on pushing factors. However the significant of the venturing success are believed to be as a result of inner psychological drive that mobilized their energy to venture into business related sectors. Thus this paper attempts to empirically discuss the effect of psychological and environmental factors in encouraging women to be in business...

Migratory Bird Joint Ventures of New Mexico

Data.gov (United States)

Earth Data Analysis Center, University of New Mexico — A joint venture is a self-directed partnership of agencies, organizations, corporations, tribes, or individuals that has formally accepted the responsibility of...

Venture Capital and Strategic Investment for Developing Government Mission Capabilities

Science.gov (United States)

2014-01-01

Defense Venture Catalyst Initiative, Welcome to Defense Venture Catalyst Initiative, undated. 10 A. McBride, Pentagon Turns to Silicon Valley for Leads...negotiating valuation and other terms, such as profit participation, stock redemption rights, board membership, and voting rights. The manager will very...to be an agile, flexible commercial firm that could work on its own terms with firms in Silicon Valley and throughout the world.”4 Since inception

Innovation through Joint Ventures. Implications and Role of the Top Management Team Innovación a través de Joint Ventures. Implicaciones y papel del Equipo de Alta Dirección

Directory of Open Access Journals (Sweden)

Andrea Ruiz Restrepo,

2009-06-01

Full Text Available Although equity-based arrangements, particularly Joint Ventures, are more effective than the contractual ones when trying to have access to knowledge needed for innovation, research on the factors on how to successfully achieve the development and implementation of this strategy is scarce and scattered. From the Upper Echelon Theory, the objective of this work is to develop a review and integration of the literature about shared control Joint Ventures, top management teams and innovation and to propose a framework of relationships. The role and implications of the top management team in carrying out a Joint Venture created to innovate is analyzed in this article, having as a conclusion that the diversity of the TMT (top management team can positively or negatively influence the results of such innovation. The directive nature of their work in relation to the parent companies may hinder the achievement of the objectives for which they were created. Other factors that may help correct the negative implications about innovation, created by the team composition and the characteristics of their work, are also considered.Aunque los acuerdos basados en capital, especialmente las Joint Ventures, son más efectivos que los contractuales a la hora de acceder al conocimiento necesario para la innovación, la investigación sobre los factores favorables al éxito en el desarrollo y consecución de esta estrategia es escasa y dispersa. A partir de la Upper Echelon Theory, el objetivo de este trabajo es desarrollar una revisión e integración de las literaturas sobre Joint Ventures de control compartido, equipos de alta dirección e innovación y proponer un marco de relaciones. Se analiza el papel y las implicaciones del equipo de alta dirección en el desempeño de una Joint Venture creada para innovar. Se concluye que la diversidad de los EAD puede incidir positiva o negativamente en los resultados de tal innovación. Las características de su labor

Enhancing selective capacity through venture bases

DEFF Research Database (Denmark)

Vintergaard, Christian; Husted, Kenneth

2003-01-01

Corporate venturing managers have the rule of thumb that only approximately one out often investments really pay of in financial measures. These low odds for success, of course,put extremely high expectations to the profit yielded from the few investments that becomesuccessful. In other words...

Trust in international joint venture relationships

NARCIS (Netherlands)

Boersma, Margreet Francina; Ghauri, Pervez N.; Buckley, Peter J.

2004-01-01

International joint ventures (IJVs) are frequently stated to be increasingly popular but with significant managerial dissatisfaction in their operations (Madhok, 1995a). Therefore, a great deal of attention has been paid to the performance of IJVs (e.g. Contractor and Lorange, 1988; special issue of

La joint venture contractual en el ámbito internacional

Directory of Open Access Journals (Sweden)

Ana Michavila Núñez

2014-06-01

Full Text Available La joint venture ha surgido en los negocios internacionales al margen de los marcos jurídicos establecidos. Sus rasgos característicos la definen como un acuerdo de cooperación para la realización de un negocio en común, en el que las partes realizan sus aportaciones, mantienen su autonomía y comparten el control sobre el negocio. La modalidad conocida como contractual o non-equity joint venture, habitualmente olvidada por la doctrina jurídica, participa de los mismos elementos y naturaleza que la equity o incorporated, si bien se distingue de ésta por los instrumentos utilizados por las partes para su implementación. Abarca todas aquellas joint ventures en las que las partes no eligen una corporation o una sociedad con personalidad jurídica para su instrumentación, sino cualquier otra forma jurídica prevista por un ordenamiento nacional o bien una diseñada a la medida por las partes en todos sus extremos. En cualquier caso, la voluntad de las partes debe plasmarse detalladamente en el acuerdo de base o contrato joint venture y, en su caso, en los contratos de aplicación o contratos satélites. Es preciso determinar en cada supuesto el régimen jurídico aplicable, puesto que no existe en la mayoría de los ordenamientos jurídicos una regulación de esta figura

Venture Capital Investments for Life Sciences Start-ups in Switzerland.

Science.gov (United States)

Gantenbein, Pascal; Herold, Nils

2014-12-01

Despite its economic and technological importance, the Swiss life sciences sector faces severe challenges in attracting enough venture capital for its own development. Although biotechnology and medical technology have been the most important areas of venture financing from 1999 through 2012 according to our own data, average investment volumes nevertheless remain on a low level of only 0.05 percent of Swiss GDP. After 2008, there was a pronounced shift away from early-stage financing. While business angels still play an important role at the early stage, venture capitalists are the most important investor type by volumes having their main focus on expansion financing. The industry faces predominant challenges in securing capital availability for entrepreneurs, in transforming the highly skewed and back-loaded payoff profile of investments into a more stable return stream, and in defining appropriate business and collaboration models.

How do country risk and national cultural differences between partners affect the survival of international alliances in emerging countries? Longitudinal analysis of 165 international joint ventures in Brazil 1974 to 2005

Directory of Open Access Journals (Sweden)

Pierre-Xavier Meschi

2007-06-01

Full Text Available This article aims at identifying the individual and joint impact of two « country-level variables », namely national distance and country risk, on the survival of international joint ventures in emerging countries. Research hypotheses predicting the negative impact of national distance and country risk on survival are formulated in this article. These research hypotheses are tested in a sample of 165 international joint ventures that were formed in Brazil between 1974 and 2003. These joint ventures were subjected to an event history analysis over a period of time ranging from 1974 to 2005. The empirical results show that the intercultural dynamics increases the instability of international joint ventures whereas the survival of these alliances does not seem to be affected by the economic and political uncertainty of Brazil. Furthermore, the national distance between local and foreign partners has effects on survival that are variable according to the life cycle of international joint ventures.

Valuation of private companies by Estonian private equity and venture capitalists / Priit Sander, Margus Kõomägi

Index Scriptorium Estoniae

Sander, Priit, 1973-

2007-01-01

Eraettevõtete hindamine Eesti era- ja riskiinvestorite poolt. Riskikapitali hinnakujundamise meetodid. Tabelid: Venture capital valuation issues; Venture capital pricing issues and return. Skeem: The venture capital valuation process in Estonia

Tax Policy, Venture Capital, and Entrepreneurship

DEFF Research Database (Denmark)

Keuschnigg, Christian; Nielsen, Søren Bo

The paper studies the effects of tax policy on venture capital activity. Entrepreneurs pursue a single high risk project each but have no own resources. Financiers provide equity finance. They must structure the entrepreneur's profit share and base salary to assure their incentives for full effort...

Corporate relocation in venture capital finance

NARCIS (Netherlands)

Cumming, D.; Flemming, G.; Schwienbacher, A.

2009-01-01

This paper introduces an analysis of international relocation decisions of venture capital (VC)-backed companies. Relocations to the United States are motivated by economic conditions as well as an improvement in the laws of the country in which the entrepreneurial firm is based. Relocations to the

Management Approach for NASA's Earth Venture-1 (EV-1) Airborne Science Investigations

Science.gov (United States)

Guillory, Anthony R.; Denkins, Todd C.; Allen, B. Danette

2013-01-01

The Earth System Science Pathfinder (ESSP) Program Office (PO) is responsible for programmatic management of National Aeronautics and Space Administration's (NASA) Science Mission Directorate's (SMD) Earth Venture (EV) missions. EV is composed of both orbital and suborbital Earth science missions. The first of the Earth Venture missions is EV-1, which are Principal Investigator-led, temporally-sustained, suborbital (airborne) science investigations costcapped at $30M each over five years. Traditional orbital procedures, processes and standards used to manage previous ESSP missions, while effective, are disproportionally comprehensive for suborbital missions. Conversely, existing airborne practices are primarily intended for smaller, temporally shorter investigations, and traditionally managed directly by a program scientist as opposed to a program office such as ESSP. In 2010, ESSP crafted a management approach for the successful implementation of the EV-1 missions within the constructs of current governance models. NASA Research and Technology Program and Project Management Requirements form the foundation of the approach for EV-1. Additionally, requirements from other existing NASA Procedural Requirements (NPRs), systems engineering guidance and management handbooks were adapted to manage programmatic, technical, schedule, cost elements and risk. As the EV-1 missions are nearly at the end of their successful execution and project lifecycle and the submission deadline of the next mission proposals near, the ESSP PO is taking the lessons learned and updated the programmatic management approach for all future Earth Venture Suborbital (EVS) missions for an even more flexible and streamlined management approach.

Establishment of a research pharmacy to support Ebola clinical research in Liberia.

Science.gov (United States)

Pierson, Jerome F; Kirchoff, Matthew Carl; Tyee, Rev Tijli; Montello, Michael J; Rhie, Julie K

This article describes the establishment of a research pharmacy to support the Partnership for Research on Ebola Vaccines in Liberia (PREVAIL) vaccine study for Ebola virus disease. This article describes the establishment of the pharmacy element to support the overall research program during an Ebola outbreak in Monrovia, Liberia, in 2014 and 2015. The need for the rapid establishment of infrastructure to support the Liberia-United States joint clinical research partnership in response to the emerging Ebola virus disease provided the opportunity for collaboration among Liberian and U.S. pharmacists. Resource austere and research naïve. Research pharmacy prepared and randomized 1500 vaccinations in support of PREVAIL. Experiences of the Liberian and U.S. pharmacists involved in the program are described. The partnership was successful in the conduct of the study. More importantly, the capacity for Liberian pharmacists to support clinical research was established. In addition, the U.S. team learned several important lessons that will help prepare them for responding to research needs in future infectious disease outbreaks. Published by Elsevier Inc.

Joint venture versus outreach: a financial analysis of case studies.

Science.gov (United States)

Forsman, R W

2001-01-01

Medical centers across the country are facing cost challenges, and national commercial laboratories are experiencing financial declines that necessitate their capturing market share in any way possible. Many laboratories are turning to joint ventures or partnerships for financial relief. However, it often is in the best interest of the patient and the medical center to integrate laboratory services across the continuum of care. This article analyzes two hypothetical joint ventures involving a laboratory management agreement and full laboratory outsourcing.

Hans Küpper discusses science and venture capital.

Science.gov (United States)

Küpper, Hans

2004-11-01

Hans Küpper has over 30 years of experience in the biotechnology industry in areas from research to R&D management, technology assessment and business acquisitions. He received his PhD in 1974 from the University of Heidelberg. After additional academic research at the Massachusetts Institute of Technology in the USA and at the University of Heidelberg, Germany, he joined Biogen in 1980. Here, he held various R&D positions, the last of which was Assistant Research Director. In 1985, he joined Behringwerke AG, Marburg, to build up and head the company's Molecular Biology Department and thereafter became Head of R&D of the Immunology/Oncology Business Unit. In 1999 he joined Global Life Science Ventures at their Munich office. Dr Küpper is the author of numerous publications and patents/applications and has also served as a consultant to the Pharmaceutical Industry and the European Commission. He is a board member of several early stage companies in the life sciences.

Understanding dynamics of strategic decision-making in venture creation: a process study of effectuation and causation

NARCIS (Netherlands)

Reymen, I.M.M.J.; Andries, P.; Berends, J.J.; Mauer, R.; Stephan, U.; van Burg, J.C.

2015-01-01

This study draws upon effectuation and causation as examples of planning-based and flexible decision-making logics and investigates dynamics in the use of both logics. The study applies a longitudinal process research approach to investigate strategic decision making in new venture creation over

TRANSFER OF MARKETING KNOWLEDGE IN THAI INTERNATIONAL JOINT VENTURE FIRMS

Directory of Open Access Journals (Sweden)

Osman Mohamad

2010-07-01

Full Text Available The focus of this study is the transfer of marketing knowledge within Thai joint venture firms. The perspectives of Thai managers were surveyed using a structured instrument. The analysis identifies seven dimensions of marketing management knowledge: promotion management, price management, logistics management, product innovation management, strategic marketing management, cross-cultural management, and target marketing management. The incidence of transfer is highest for activities in strategic marketing management, followed by price management. Transfer in product innovation management and target marketing management tends to vary with the age of the joint venture. Joint venture firms with foreign partners originating from Western, advanced, industrialised nations recorded the highest incidence of knowledge transfer occurring within product innovation management. This trend also holds true for the management of promotion activities. The incidence of transfer in target marketing management is lowest among firms with foreign partners from neighbouring nations. The incidence of knowledge transfer within product innovation and target marketing also tends to vary with the age of the joint venture. An analysis based on industry classification revealed that the transfer of knowledge regarding logistics management occurs most for firms in the manufacturing sector. In the service sector, the highest incidence of knowledge transfer within the areas of promotion management and target marketing management occurred in the agricultural sector.

Venture Capital in Ohio Schools: Building Commitment and Capacity for School Renewal.

Science.gov (United States)

Ohio State Dept. of Education, Columbus.

This publication describes Venture Capital grants, which are awarded to Ohio schools for school-improvement efforts. Originating in the business sector, the concept of Venture Capital represented corporate earning or individual savings invested in a new or fresh enterprise. The grants are designed to be long-term, evolving efforts focused on a…

Individual learning effects on knowledge transfer in international joint ventures

DEFF Research Database (Denmark)

Dao, Li Thuy; Napier, Nancy

2016-01-01

This paper examines micro (individual-level) aspects of knowledge transfer and learning in international joint ventures in an emerging economy context. Learning by expatriate and local managers appears far more complex, mutually dependent, and significant to the knowledge transfer process than...... suggested in existing literature. Building upon conceptualizations of individual learning and cognitive – behavioural effects in an organisational context while drawing evidence from two cases of Danish – Vietnamese joint ventures, we propose a model of individual-level knowledge transfer and learning...

New money, new problems : A qualitative study of the conflicts between venture capitalists and entrepreneurs in Sweden

OpenAIRE

Li, Juan; Abrahamsson, Jan Tony

2011-01-01

New ventures started by entrepreneurs need access to the right amount of financial resourcesin order to grow and expand businesses. Venture capital financing and partnerships withventure capital firms is a common route for entrepreneurial companies to acquire the neededfinancing for growing the venture, which in turn benefits a country’s economy as a whole.The partnership between the venture capital firm and the entrepreneur may involve conflicts,due to different goals and objectives towards ...

24 CFR 943.146 - What impact does the use of a subsidiary, affiliate, or joint venture have on financial...

Science.gov (United States)

2010-04-01

... subsidiary, affiliate, or joint venture have on financial accountability to HUD and the Federal government... URBAN DEVELOPMENT PUBLIC HOUSING AGENCY CONSORTIA AND JOINT VENTURES Subsidiaries, Affiliates, Joint Ventures in Public Housing § 943.146 What impact does the use of a subsidiary, affiliate, or joint venture...

The role of crowdfunding in entrepreneurial ventures : an analysis of recent trends in Sweden

OpenAIRE

Silver, Lars; Berggren, Björn; Fili, Andreas

2016-01-01

The financing of entrepreneurial ventures has been at the forefront of academic debate as well as policy-making discussion for almost a century. In general, there seems to be an agreement that the risks associated with business startups are higher than for mature firms, hence, these ventures will have to pay a higher interest rate than more mature and large firms. In this paper the authors analyze the role of a relatively new form of financing for entrepreneurial ventures – crowdfunding – and...

Cooperating to Compete in the Global Air Cargo Industry: The Case of the DHL Express and Lufthansa Cargo A.G. Joint Venture Airline ‘AeroLogic’

Directory of Open Access Journals (Sweden)

Glenn Baxter

2018-03-01

Full Text Available This paper presents a case study of the DHL Express and Lufthansa Cargo strategic joint venture cargo airline ‘AeroLogic’, the global air cargo industry’s largest operative joint venture between an airline and a leading international express and logistics provider. The study used a qualitative research approach. The data gathered for the study was examined by document analysis. The strategic analysis of the AeroLogic joint venture was based on the use of Porter’s Five Forces framework. The study found that the AeroLogic joint venture airline has provided synergistic benefits to both partners and has allowed the partners to access new markets and to participate in the evolution of the air cargo industry. The new venture has also enabled both joint venture partners to enhance their competitive position in the global air cargo industry through strengthened service offerings and has provided the partners with increased cargo capacities, a larger route network, and greater frequencies within their own route networks. The study also found that the AeroLogic business model is unique in the air cargo industry. A limitation of the study was that AeroLogic’s annual revenue or freight traffic data was not available. It was, therefore, not possible to analyse the business performance of the joint venture.

Bird Habitat Conservation at Various Scales in the Atlantic Coast Joint Venture

Science.gov (United States)

Andrew Milliken; Craig Watson; Chuck Hayes

2005-01-01

The Atlantic Coast Joint Venture is a partnership focused on the conservation of habitats for migratory birds within the Atlantic Flyway/Atlantic Coast Region from Maine south to Puerto Rico. In order to be effective in planning and implementing conservation in this large and diverse area, the joint venture must work at multiple spatial scales, from the largest ?...

The role of social networks in financing technology-based ventures: an empirical exploration

NARCIS (Netherlands)

Heuven, J.M.J.; Groen, Arend J.

2012-01-01

The focus of this study is on the role of networks in both identifying and accessing financial resource providers by technology-based ventures. We explore the role of networks by taking into account several specifications. We (1) acknowledge that new ventures can access financial resource providers

Joint Venture Modes of Water Conservancy and Hydroelectric Engineering

Directory of Open Access Journals (Sweden)

Zhiding Chen

2013-07-01

Full Text Available With the long construction period, the giant scope and complex technology, water conservancy and hydroelectric engineering construction has large investment. In the fully competitive water conservancy and hydropower project construction contracting market, it is almost impossible for a company to contract with a water conservancy and hydropower project independently. Therefore, water conservancy and hydropower project construction can be contracted by several construction companies together, to play each company's strengths, lower offer, improve project quality, shorten the construction period and win the competition. In this paper, we started from the definition of Joint Venture, summed up the forms of Joint Venture in water conservancy and hydropower engineering, proposed that the JV modes can be divided into domestic and international union, tight mode, half-tight mode, loose mode, incorporation and consortium. Furthermore, we analyzed the advantages and disadvantages of Joint Venture. Put forward that the JV can relieve the owner from interfacial administrative work, reduce risk of engineering, and raise the success rate of engineering contract, improve the correctness of price and increase the opportunity of project contracting, Learn from other members, enhance technology and management and make full use of idle resources

Technology programs and related policies - Impacts on communications satellite business ventures

Science.gov (United States)

Greenberg, J. S.

1985-01-01

The DOMSAT II stochastic communication satellite business venture financial planning simulation model is described. The specification of business scenarios and the results of several analyses are presented. In particular, the impacts of NASA on-orbit propulsion and power technology programs are described. The effects of insurance rates and self-insurance and of the use of the Space Shuttle and Ariane transportation systems on a typical fixed satellite service business venture are discussed.

Technology transfer--the rôle of venture capital.

Science.gov (United States)

Morgan, P W

1987-01-01

In summary, let me say that the transfer of technology can be managed successfully. In the context of 3i as a whole, we have supported 1600 start-ups in the last five years although, obviously, not necessarily in high-tech industries. In 1987 3i Ventures fully expects to invest a further few million pounds in either start-ups or pre-stock market companies within the health-care and biotechnology sectors. It requires that everyone involved, including the venture capitalist, fulfils their rôle with commitment. It can be a difficult and lengthy process, but it can also be fun and very rewarding.

Soviet efforts to attract foreign E and P investment through joint ventures

International Nuclear Information System (INIS)

Gochenour, D.T.

1991-01-01

This paper reports that since 1987, Soviet efforts to attract Western E and P investment have been evolving through the framework provided by the 1987 Joint-Venture Law. While this law and dozen or so regular acts, decrees, and amendments have sought to stimulate interest, they have failed to address significant failings in the Soviet Union's institutional organization of the petroleum industry. While we anticipate that institutional authority will continue to devolve away from the All-Union central control in Moscow to the republican authorities, many obstacles to investors still have not been addressed by the joint-venture laws. Among these are the export regime, fiscal regime (which we expect will get stiffer), and the rules for joint-venture capitalization and valuation

Designing an International Joint Venture Negotiation Game.

Science.gov (United States)

Kenkel, Phil; And Others

1996-01-01

Evaluates a simulation game that models management problems encountered in negotiating and managing international joint ventures. Designed to instruct executives of state-owned agribusinesses in Indonesia in abstract concepts such as partner rapport, transfer price conflicts, and marketing disagreements, its success suggests that simulation games…

Why Do European Venture Capital Companies Syndicate?

NARCIS (Netherlands)

S. Manigart (Sophie); J. Bruining (Hans); A. Lockett (Andy); M. Meuleman (Miguel)

2002-01-01

textabstractFinancial theory, resource-based theory and access to deal flow are used to explain syndication practices among European venture capital (VC) firms. The desire to share risk and increase portfolio diversification is a more important motive for syndication than the desire to access

Venture Fund Fueling Push for New Schools

Science.gov (United States)

Robelen, Erik W.

2007-01-01

The NewSchools Venture Fund is a non-profit organization with a mission to "transform public education through powerful ideas and passionate entrepreneurs", support education entrepreneurs who are working to better serve disadvantaged children, and provide "thought leadership" to help bring about "broad systematic…

Factors influencing the establishment of knowledge-intensive ventures

DEFF Research Database (Denmark)

Madsen, Henning; Neergaard, Helle; Ulhøi, John Parm

2008-01-01

-depth interview techniques, this research addresses the role and importance of financial capital, human capital and social capital in the organizational genesis and early growth of entrepreneurial activities.   Findings: Financial capital remains the most critical asset in the entrepreneurial process. However...

El Control y la Confianza: dos rivales en las "International Joint Ventures"

Directory of Open Access Journals (Sweden)

Francisco Puig Blanco

2013-02-01

Full Text Available Las empresas conjuntas internacionales(International Joint Ventures se caracterizan pordos factores íntimamente relacionados: el control y eloportunismo. En este trabajo, trataremos de analizarla relación entre ambos factores y estudiaremos quétipos de control ayudarían a prevenir o a reducirel oportunismo en este tipo de empresas. Además,trataremos de identificar las ventajas e inconvenientesasociados al control y analizaremos el caso de unaInternational Joint Venture formada por dos empresas,una española y la otra americana, cuyo fracaso se debió,en gran parte, a la ausencia de control (confianza y aloportunismo.   ABSTRACT International Joint Ventures are distinguished bytwo closely related factors: control and opportunism.In this paper we will try to analyze the relationshipbetween both factors and we will study what controlswould help prevent or reduce opportunism in thisclass of enterprises. Besides, we will attempt to identifythe advantages and inconveniences associated withcontrol, and analyze one case of an International JointVenture comprised by two companies, a Spanish and anAmerican one whose failure was largely due to lack ofcontrol (trust and opportunism.

76 FR 39645 - Exemptions for Advisers to Venture Capital Funds, Private Fund Advisers With Less Than $150...

Science.gov (United States)

2011-07-06

... Exemptions for Advisers to Venture Capital Funds, Private Fund Advisers With Less Than $150 Million in Assets... Investment Advisers Registration Act of 2010--the new rules define ``venture capital fund'' and provide an... Venture Capital Strategy 8. Is a Private Fund 9. Application to Non-U.S. Advisers 10. Grandfathering...

Third Party Referrals in the Venture Capital Financing Process: Do Network Ties Matter?

NARCIS (Netherlands)

Heuven, J.M.J.

2008-01-01

In this paper we focus on the role of third party referrals in the venture capital funding process. Taking network theory as our theoretical perspective we explore if and how third parties play a role in the funding process. Hereby we focus on both the network ties between new venture teams and

Investigation of the Effect of Cultural Adaptation on International Joint Venture Performance

OpenAIRE

ÖZORHON, Beliz; ALTUN, Hasan

2017-01-01

Internationaljoint ventures (IJVs) have a great importance as a strategic alternative inglobal competition. Cultural differences between partners from differentcountries may cause lower performance levels in such ventures. The majorobjective of this study is to investigate the influence of national andorganizational culture adaptation of partnerson the IJV performance. In this respect, a questionnaire survey wasadministered to medium to large scale contractors,thgat are members of the Turkish...

Yabancı Sermaye ve Türkiye'de Elektronik, Kimya ve Toprak Sektörlerinde Faaliyet Gösteren Yatırım Ortaklıklarının Performanslarının İncelenmesi = Study of the Foreign Capital and the Performance of the Joint Ventures That Operate in The Electronical, Chemical and Cement Sectors in Turkey

Directory of Open Access Journals (Sweden)

Erol EREN

2003-01-01

Full Text Available Firms have started to cooperate with other firms due to globalization and rapidly increasing competition. They can have quick access to the most recent technology and different markets by cooperating with other firms. Thus by increasing their cross-border operations, multinational companies prefer to establish joint ventures. Joint ventures are the forms of cooperation that is widely used by multinational firms. In Turkey, Foreign Capital Law (No : 6224 has been enacted on January, 18th, 1954. This law has been enacted to encourage foreign capital investments. Even though, it is quite liberal, the amount of foreign capital inflow is not at a desirable level. Therefore, it is necessary and very important to research the reasons for the inadequacy in foreign capital inflows to Turkey. In this paper, the performance of joint ventures in electronic, chemistry and cement sectors are studied. The joint ventures in which the foreign partner has an equity share of less than ninety percent are included in the scope of the study.

Venture capitalists as gatekeepers for biotechnological innovation

NARCIS (Netherlands)

Fernald, Kenneth; Hoeben, Ruud; Claassen, H.J.H.M.

2015-01-01

Venture capitalists (VCs) aim at trade sales as a preferred exit-strategy for biotechnology companies they invest in. Therefore, VCs pay close attention to the wishes of larger (bio)pharmaceutical acquirers. In this paper we explore VCs' behavior and strategies by analyzing the technology fields and

Institutional Venture Capital for the Space Industry: Providing Risk Capital for Space Companies that Provide Investor Returns

Science.gov (United States)

Moore, Roscoe M., III

2002-01-01

provided by an institution. Those institutions tend to be Banks, Pension Funds, Insurance Funds, Corporations, and other incorporated entities that are obligated to earn a return on their invested capital. These institutions invest in a venture capital firm for the sole purpose of getting their money back with a healthy profit - within a set period of time. The venture capital firm is responsible for investing in and managing companies whose risk and return are higher than other less risky classes of investment. The venture capital firm's primary skill is its ability to manage the high risk of its venture investments while maintaining the high return potential of its venture investments. to businesses for the purpose of providing the above-mentioned Institutions a substantial return on their invested capital. Institutional Venture Capital for the Space Industry cannot be provided to projects or companies whose philosophy or intention is not to increase shareholder equity value within a set time period. efficiently when tied up in companies that intend to spend billions of dollars before the first dollar of revenue is generated. If 2 billion dollars of venture capital is invested in the equity of a Space Company for a minority equity position, then that Space Company must build that minority shareholder's equity value to a minimum investment return of 4 to 8 billion dollars. There are not many start-up companies that are able to reach public market equity valuations in the tens of billions of dollars within reasonable time horizons. Foundations, Manufacturers, and Strategic Investors can invest in projects that cannot realistically provide a substantial return on their equity to their investors within a reasonable period (5-7 years) of time. Venture Capitalists have to make money. Venture capitalists have made money on Satellite Television, Satellite Radio, Fixed Satellite Services, and other businesses. Venture capitalists have not made money on stand

What differences in the cultural backgrounds of partners are detrimental for international joint ventures?

NARCIS (Netherlands)

H.G. Barkema (Harry); G.A.M. Vermeulen (Freek)

1997-01-01

textabstractAn international joint venture implies that a firm has to cooperate with a partner with a different cultural background. In this study, hypotheses about which differences in national culture are most disruptive for international joint ventures were developed and tested using Hofstede's

How lead founder personality affects new venture performance : the mediating role of team conflict

NARCIS (Netherlands)

Jong, de A.; Song, M.; Song, L.Z.

2013-01-01

This empirical study of 323 new ventures examines how task and relationship conflict in the founding top management team mediates the effect of lead founder personality on new venture performance. The results reveal that (1) openness and agreeableness increase task conflict, whereas

How Lead Founder Personality Affects New Venture Performance: The Mediating Role of Team Conflict

NARCIS (Netherlands)

de Jong, Ad; Song, Michael; Song, Lisa Z.

2013-01-01

This empirical study of 323 new ventures examines how task and relationship conflict in the founding top management team mediates the effect of lead founder personality on new venture performance. The results reveal that (1) openness and agreeableness increase task conflict, whereas

24 CFR 943.144 - What financial impact do operations of a subsidiary, affiliate, or joint venture have on a PHA?

Science.gov (United States)

2010-04-01

... of a subsidiary, affiliate, or joint venture have on a PHA? 943.144 Section 943.144 Housing and Urban... CONSORTIA AND JOINT VENTURES Subsidiaries, Affiliates, Joint Ventures in Public Housing § 943.144 What financial impact do operations of a subsidiary, affiliate, or joint venture have on a PHA? Income generated...

A Study on Marketing Behaviour of Rural Youth Entrepreneurs among Seven Different Ventures

Directory of Open Access Journals (Sweden)

S. Janani

2016-11-01

Full Text Available The study was conducted among 210 rural youth entrepreneurs of seven different ventures in Krishnagiri district to assess their marketing behaviour. The entrepreneurial ventures selected for the study were Sericulture, Mushroom Production, Hi-tech nurseries (Polyhouse, Fruit and flower nursery, Fisheries, Poultry farming and Value addition (Tamarind processing and Millet based cookies.

Knowledge Creation in International Joint Ventures in Emerging Economies

DEFF Research Database (Denmark)

Nielsen, Ulrik B.

Entering and developing presence in emerging economies often require foreign firms to set up International Joint Ventures (IJVs) with local partners, especially when the prime motive of the operation is to capture opportunities in the local markets (Mohr & Puck, 2005). IJVs have therefore become...... an important way for firms to enter these markets and a significant force in shaping a firm’s global strategy in expanding international activities abroad. However, research has shown that IJVs in emerging economies are unstable, and firms have experienced that performance of their IJVs in these emerging...... economies often does not meet their expectations (Fang & Zou, 2010). Extant research has shown that, in general, management of IJVs appears to be a difficult issue. 60-70% of all partnerships are not successful (Lambe, Spekman, & Hunt, 2002). Inter-partner learning has been proposed in the literature...

Operational slack and venture survival

OpenAIRE

Azadegan, Arash; Patel, Pankaj; Parida, Vinit

2013-01-01

Slack can act as a double-edged sword. While it can buffer against environmental threats to help ensure business continuity, slack canalso be costly and reduce profitability. In this study, we focus on operational slack, the form related to the firm’s production processes. We investigate the role of operational slack on firm survival during its venture stage, when its survival is significantly challenged by environmental threats. Specifically, we explore how change in three types of environme...

Private equity and venture capital in South Africa: A comparison of project financing decisions

Directory of Open Access Journals (Sweden)

David Portmann

2013-09-01

Full Text Available This paper investigates the manner in which private equity and venture capital firms in South Africa assess investment opportunities. The analysis was facilitated using a survey containing both Likert-scale and open-ended questions. The key findings show that both private equity and venture capital firms rate the entrepreneur or management team higher than any other criterion or consideration. Private equity firms, however, emphasise financial criteria more than venture capitalists do. There is also an observable shift in the investment activities away from start-up funding, towards later-stage deals. Risk appetite has also declined post the financial crisis.

Case-study application of venture analysis: the integrated energy utility. Volume 2. Technical report

Energy Technology Data Exchange (ETDEWEB)

Fein, E; Gordon, T J; King, R; Kropp, F G; Shuchman, H L; Stover, J; Hausz, W; Meyer, C

1978-11-01

Application of venture analysis would, at a minimum, need to address issues involving careful definition of the product/service being considered; market needs that the product will satisfy; investment/manufacturing costs; minimum selling price needed to achieve desired ROI or other financial measure; market potential at relevant prices; potential for competitors to obsolete the product before investment is recovered; assessment of companies' resources and capabilities to supply the product. There is clearly no single method for performing every venture analysis, because the economic and structural environment associated with each industry varies widely. These and other factors produce differences in cost structure, marketing organizations, and nature of products which dictate that an appropriate method of venture analysis must be tailored to each industry. The initial chapter of the report presents some brief remarks concerning the important concepts that all venture analyses must consider and then describes in detail the method used for the venture analyzed in this report. The case study addresses IEUS for commercialization. The type of IEUS investigated supplies electricity and thermal energy; the thermal energy distributed in the form of high-temperature water, i.e., water from at least 90/sup 0/C upwards to 200/sup 0/C. (MCW)

Analysis of Financial Ratio to Distinguish Indonesia Joint Venture General Insurance Company Performance using Discriminant Analysis

Directory of Open Access Journals (Sweden)

Subiakto Soekarno

2012-01-01

Full Text Available Insurance industry stands as a service business that plays a significant role in Indonesiaeconomical condition. The development of insurance industry in Indonesia, both of generalinsurance and life insurance, has increased very fast. The general insurance industry itselfdivided into two major players which are local private company and Joint Venture Company.Lately, the use of statistical techniques and financial ratios models to asses financial institutionsuch as insurance company have been used as one of the appropriate combination inpredicting the performance of an industry. This research aims to distinguish between JointVenture General Insurance Companies that have a good performance and those who are lessperforming well using Discriminant Analysis. Further, the findings led that DiscriminantAnalysis is able to distinguish Joint Venture General Insurance Companies that have a goodperformance and those who are not performing well. There are also six ratios which are RBC,Technical Reserve to Investment Ratio, Debt Ratio, Return on Equity, Loss Ratio, and ExpenseRatio that stand as the most influential ratios to distinguish the performance of joint venturegeneral insurance companies. In addition, the result suggest business people to be concernedtoward those six ratios, to increase their companies’ performance.Key words: general insurance, financial ratio, discriminant analysis

78 FR 6321 - Stephen Phillips, Brentwood Dam Ventures, LLC; Notice of Transfer of Exemption

Science.gov (United States)

2013-01-30

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Project No. 4254-009] Stephen Phillips, Brentwood Dam Ventures, LLC; Notice of Transfer of Exemption 1. By letter filed May 31, 2006 and supplemented on January 15, 2013, Stephen Phillips and Brentwood Dam Ventures, LLC informed the Commission that...

Evaluation of the WIMS (KAERI) - VENTURE code system for peak power prediction of KMRR core using MCNP

International Nuclear Information System (INIS)

Park, W.S.; Lee, K.M.; Lee, C.S.; Lee, J.T.; Oh, S.K.

1992-01-01

In this work, the validity and quantitative uncertainty of WIMS (KAERI) - VENTURE code system for the design and analysis of KMRR core was tried to be inferred using a well known benchmark code, MCNP. WIMS (KAERI) showed an excellent agreement with MCNP code. For three different control rod positions at a simulated core which has a quarter symmetry, total peaking factors and three sub-factors (radial, axial, and local) obtained from VENTURE were compared with those of MCNP. The comparison proved the validity of VENTURE and showed better agreement in the order of radial, axial, and local factors. The uncertainty of WIMS (KAERI) - VENTURE system was inferred using the 2σ band of total peaking obtained by MCNP. The uncertainty of WIMS (KAERI) - VENTURE system were found to be 18.5 % for the operating condition. (author)

Sanus-Ace: Negotiating a Memorandum of Understanding in external corporate venturing.

OpenAIRE

VANHAVERBEKE, Wim

2014-01-01

This negotiation case describes a situation in which an investment manager of a large chemical company (ACE) has to decide about a corporate venturing investment in a small high-tech start-up (Sanus). To win board approval for this investment, an ACE business unit (in this case, ACE Food Specialties) must write a letter of commitment. The investment manager of ACE Venturing cannot invest in the start-up without a MoU between the start-up and the business unit of ACE. This case provides the re...

16 CFR 802.42 - Partial exemption for acquisitions in connection with the formation of certain joint ventures or...

Science.gov (United States)

2010-01-01

... connection with the formation of certain joint ventures or other corporations. 802.42 Section 802.42... acquisitions in connection with the formation of certain joint ventures or other corporations. (a) Whenever one or more of the contributors in the formation of a joint venture or other corporation which otherwise...

Venture Capital in Russia and Ukraine: Current Trends and Ways of Strengthening

Directory of Open Access Journals (Sweden)

Krasovska, O.V.

2014-07-01

Full Text Available Venture industry in Russia and Ukraine is analyzed from the point of view of its ability to be the source of innovation projects financial support. It is shown that Ukrainian venture funds more often than Russian funds prefer to finance traditional economic sectors and do not tend to invest money in high-techs sphere. Comparative analysis of the legislative framework in Ukraine and Russia is also made in the paper.

Nascent Entrepreneurship and the Developing Individual: Early Entrepreneurial Competence in Adolescence and Venture Creation Success during the Career

Science.gov (United States)

Obschonka, Martin; Silbereisen, Rainer K.; Schmitt-Rodermund, Eva; Stuetzer, Michael

2011-01-01

What predicts a person's venture creation success over the course of the career, such as making progress in the venture creation process and multiple successful venture creations? Applying a life span approach of human development, this study examined the effect of early entrepreneurial competence in adolescence, which was gathered retrospectively…

Risoe Research Establishment, Denmark

Energy Technology Data Exchange (ETDEWEB)

NONE

1973-07-01

On the poetic Roskilde Fjord, 40 kilometers from Copenhagen, and near Roskilde, capital of Denmark in the 12th century, stands the Risoe Research Establishment of the Danish Atomic Energy Commission. ere 700 men and women are engaged in searching for ways in which atomic energy can be used to make the world a better and healthier place. The work at Risoe comprises fundamental research, reactor technology and other technological studies, agricultural research and health and safety studies. Nuclear power stations are scheduled to be operative in Denmark some time between 1975 and 1980, and the planning of these stations and development of the many processes this will involve has become a major task at Risoe. Special conditions have to be fulfilled in selecting the site of an atomic research station, and the barren Risoe peninsula had them all: safety, because the site was free from buildings to permit continuous control; closeness to the scientific institutions of the capital, Copenhagen; social amenities in Roskilde; finally, access to an a adequate water supply. his special series of photos covering some aspects of the work and safety conditions at Risoe was commissioned by WHO. (author)

Risoe Research Establishment, Denmark

International Nuclear Information System (INIS)

1973-01-01

On the poetic Roskilde Fjord, 40 kilometers from Copenhagen, and near Roskilde, capital of Denmark in the 12th century, stands the Risoe Research Establishment of the Danish Atomic Energy Commission. ere 700 men and women are engaged in searching for ways in which atomic energy can be used to make the world a better and healthier place. The work at Risoe comprises fundamental research, reactor technology and other technological studies, agricultural research and health and safety studies. Nuclear power stations are scheduled to be operative in Denmark some time between 1975 and 1980, and the planning of these stations and development of the many processes this will involve has become a major task at Risoe. Special conditions have to be fulfilled in selecting the site of an atomic research station, and the barren Risoe peninsula had them all: safety, because the site was free from buildings to permit continuous control; closeness to the scientific institutions of the capital, Copenhagen; social amenities in Roskilde; finally, access to an a adequate water supply. his special series of photos covering some aspects of the work and safety conditions at Risoe was commissioned by WHO. (author)

Considerations when analyzing investment in space transportation business ventures

Science.gov (United States)

S. Greenberg, Joel

2000-07-01

Private sector investment in space transportation, as in most business situations, requires the development of realistic and believable business plans that demonstrate that if an investment is made that there is a reasonable chance that the indicated financial performance will attract the necessary financing. The business plan must also indicate the assumptions upon which the plan rests, and as has become almost second nature to the space transportation industry, the necessary role of the government in risk reduction and/or capital formation [i.e., government actions that are necessary to make the business venture financially attractive]. This paper discusses and describes several factors that must be considered, by both government and industry, when developing a business plan for obtaining financing for space transportation business ventures.

Financial bootstrapping use in family ventures and the impact on start-up growth

OpenAIRE

Helleboogh, D.; Laveren, E.; LYBAERT, Nadine

2010-01-01

This paper contributes to the general knowledge of bootstrap financing among new family ventures in two ways. Firstly, this research reveals which human capital characteristics of the owner-manager has an impact on financial bootstrapping use. The empirical results indicate that the use of bootstrapping techniques does not depend upon the family business founder's education, but that it is a skill which is absorbed from self-employed parents or during the founder‟s prior work and management e...

Evaluation of spacecraft technology programs (effects on communication satellite business ventures), volume 1

Science.gov (United States)

Greenburg, J. S.; Gaelick, C.; Kaplan, M.; Fishman, J.; Hopkins, C.

1985-01-01

Commercial organizations as well as government agencies invest in spacecraft (S/C) technology programs that are aimed at increasing the performance of communications satellites. The value of these programs must be measured in terms of their impacts on the financial performane of the business ventures that may ultimately utilize the communications satellites. An economic evaluation and planning capability was developed and used to assess the impact of NASA on-orbit propulsion and space power programs on typical fixed satellite service (FSS) and direct broadcast service (DBS) communications satellite business ventures. Typical FSS and DBS spin and three-axis stabilized spacecraft were configured in the absence of NASA technology programs. These spacecraft were reconfigured taking into account the anticipated results of NASA specified on-orbit propulsion and space power programs. In general, the NASA technology programs resulted in spacecraft with increased capability. The developed methodology for assessing the value of spacecraft technology programs in terms of their impact on the financial performance of communication satellite business ventures is described. Results of the assessment of NASA specified on-orbit propulsion and space power technology programs are presented for typical FSS and DBS business ventures.

The Gift of Education: Public Education and Venture Philanthropy. Education, Politics and Public Life

Science.gov (United States)

Saltman, Kenneth J.

2010-01-01

This is a cutting edge book that not only maps and criticizes venture philanthropy, but also offers a new and different way of conceptualizing public education in response to the neoliberal climate affecting all aspects of public education. This book contains the following chapters: (1) The Trojan School: How Venture Philanthropy is Corporatizing…

Joint ventures and concentrations in oil market

International Nuclear Information System (INIS)

Tabarelli, D.

1996-01-01

Many are the joint ventures taken during last year by the oil companies as a move towards the ever existing rules of the oil market: integration, economies of scale and reduction of competitive market uncertainty. This article discusses some of the most interesting points of the recent events and the initiatives in the Italian market

Venture Capital and Industrial ''Innovation''

OpenAIRE

Hirukawa, Masayuki; Ueda, Masako

2008-01-01

For the sample period of 1965-1992, Kortum and Lerner (2000) find that venture capital (VC) investments have a positive impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this positive impact continued to be present and became even stronger in late 90s during which VC industry experienced an unprecedented growth. We then proceed to study if this positive impact of VC is also present on productivity growth, which is a measure of i...

ROLE OF JOINT VENTURE “SOVHISPAN” IN NORMALIZATION OF THE SOVIET-SPANISH BILATERAL RELATIONS

Directory of Open Access Journals (Sweden)

Марина Николаевна Мосейкина

2016-12-01

Full Text Available The object of this research is to support the statement about the prevalence of the economic interest over the political ones, taking as an example the reestablishment of the Soviet-Spanish bilateral relations. The historical context of the creation of the Soviet-Spanish joint venture “Sovhispan”is highlighted as the final outcome of the secret negotiations and previous business practices between Spain and the Soviet Union in the late 1960s. The Soviet-Spanish economic relations started ten years before their normalization in 1977, the Canary Islandsbeing one of the places of their development. The principal conclusions of the research are: the geostrategic position of Spain was appreciated by the USA, via installation of the military bases on the mainland, and the USSR, using the Canary Islands as an operational base for the Soviet Fishing Fleet. “Sovrybflot”, an internal structure of the Ministry of Fisheries of the USSR, managed the overseas activity of the Soviet Fishing fleet abroad. Thus, the arrival of avast Soviet fishing fleet in the Canary Islands and the creation of the joint venture “Sovhispan” was a result of its work. “Sovhispan” was a “bridge” in the normalization of the Soviet-Spanish bilateral relations, and bankrupted with the dissolution of the USSR.

Understanding the advantages of open innovation practices in corporate venturing in terms of real options

NARCIS (Netherlands)

Vanhaverbeke, W.P.M.; Vrande, van de V.J.A.; Chesbrough, H.

2008-01-01

Part of the advantages of using open innovation (compared to closed innovation) in corporate venturing can be explained by applying the real options approach. Open innovation in risk-laden activities such as corporate venturing has the following advantages: (i) benefits from early involvement in new

Business plans in bank decision-making when financing new ventures in South Africa

Directory of Open Access Journals (Sweden)

M Pretorius

2004-04-01

Full Text Available This article focuses on the position that South African commercial banks adopt when evaluating an application for finance of new business ventures. The role and importance of the business plan in the decision-making process is highlighted and investigated. This article begins to qualitatively describe the decision-making processes, criteria and processes instituted by the four major South African commercial banks that between them serve 96 per cent of the banking services for small business. It then questions the barriers placed on applicants applying for finance and recommends how these barriers can be removed. The article concludes that banks finance business ventures with poor potential for success if the applicant is creditworthy or has the necessary security rather than assist applicants with good plans and ventures with potential, but lacking sufficient security.

Aspectos estratégicos e relacionais das alianças do tipo joint-venture: o caso de dois fabricantes da indústria automobilística [doi: 10.5329/RECADM.2014012

Directory of Open Access Journals (Sweden)

Marina D’Agostini

2014-08-01

Full Text Available Este artigo tem como objetivo analisar a formação de joint-ventures de dois fabricantes da indústria automobilística, compreendendo aspectos estratégicos e relacionais destas alianças. A pesquisa caracterizou-se por ser um estudo de casos múltiplos, qualitativo e exploratório, onde foi possível realizar uma melhor compreensão das duas subsidiárias nacionais e suas respectivas joint-ventures localizadas nos Estados Unidos (EUA, Alemanha, México e Egito. A coleta dos dados foi feita por meio da observação participante e roteiro de entrevista semi-estruturado. Os dados foram analisados por meio da análise de conteúdo. Dentre os resultados, foi identificado como primordial para o sucesso da implementação deste tipo de aliança, a realização de um detalhado estudo de viabilidade que deve anteceder a formação da joint-venture, seguido de um alinhamento entre os interesses das sócias. As adaptações aos aspectos culturais aparecem como um ponto forte para a sobrevivência das joint-ventures. As informações obtidas neste estudo convergem com a teoria estudada e conduzem a novas oportunidades de pesquisas relacionadas ao tema.   Palavras-chave: Aliança estratégica. Joint-venture. Indústriaautomobilística.     STRATEGIC AND RELATIONAL ASPECTS OF JOINT-VENTURE ALLIANCES: THE CASE OF TWO MANUFACTURERS OF THE AUTOMOTIVE INDUSTRY   ABSTRACT This article aims to analyze the formation of joint ventures formed by two manufacturers from automobile industry, understanding strategic and relational aspects of these alliances. This research is characterized by a qualitative and exploratory multiple case study, where it was possible to conduct a comparison of two subsidiary and their joint ventures located in the United States (USA, Germany, Mexico, and Egypt. The data collection was done through participant observation and semi-structured interviews. The data were analyzed using content analysis technique. Among results, it was

Managing international joint venture relationships - A longitudinal perspective

NARCIS (Netherlands)

Hyder, A.; Ghauri, P.N.

The purpose of the study is to describe and analyse the formation and development of international joint venture processes and relationships between the partners over time. Moreover, the study analyzes how far foreign partners have been successful in developing new contacts and in expanding their

Liquidity, Technological Opportunities, and the Stage Distribution of Venture Capital Investments.

Science.gov (United States)

Lahr, Henry; Mina, Andrea

2014-06-01

This paper explores the determinants of the stage distribution of European venture capital investments from 1990 to 2011. Consistent with liquidity risk theory, we find that the likelihood of investing in earlier stages increases relative to all private equity investments during liquidity crisis years. While liquidity is the main driver of acquisition investments and, to some extent, of expansion financings, technological opportunities are overall the main driver of early and late stage venture capital investments. In contrast to the dotcom crash, the recent financial crisis negatively affected the relative likelihood of expansion investments, but not of early and late stage investments.

Liquidity, Technological Opportunities, and the Stage Distribution of Venture Capital Investments

Science.gov (United States)

Lahr, Henry; Mina, Andrea

2014-01-01

This paper explores the determinants of the stage distribution of European venture capital investments from 1990 to 2011. Consistent with liquidity risk theory, we find that the likelihood of investing in earlier stages increases relative to all private equity investments during liquidity crisis years. While liquidity is the main driver of acquisition investments and, to some extent, of expansion financings, technological opportunities are overall the main driver of early and late stage venture capital investments. In contrast to the dotcom crash, the recent financial crisis negatively affected the relative likelihood of expansion investments, but not of early and late stage investments. PMID:26166906

Cooperation and conflict in international joint venture relationship

NARCIS (Netherlands)

Kemp, Ron

1999-01-01

This article reports the results of an empirical study focusing on the relationship between the relative dependence asymmetry of partners in a joint venture, the level and intensity of conflict between the partners, the level of trust and norms of exchange between the partners, and the performance

Working Partnerships: A Joint Venture in Vocational Education.

Science.gov (United States)

Campbell, Clifton P.

Joint Ventures in Vocational Education projects link participating businesses with secondary vocational programs in a cooperative relationship. These are voluntary arrangements between vocational programs and a public or private sector agency that combine the energies and resources of the partners to enrich various aspects of the vocational…

Joint Venture Arrangement for RN to BSN: A Model of Synergy between Academia and Service.

Science.gov (United States)

Bargagliotti, L. Antoinette; And Others

1991-01-01

Joint venture among educational and practice institutions is well on its way toward becoming the norm in nursing education and practice. Kaiser Permanente and the University of San Francisco School of Nursing offer a venture that allows registered nurses to pursue a bachelor of science in nursing degree. (JOW)

Investors prefer entrepreneurial ventures pitched by attractive men.

Science.gov (United States)

Brooks, Alison Wood; Huang, Laura; Kearney, Sarah Wood; Murray, Fiona E

2014-03-25

Entrepreneurship is a central path to job creation, economic growth, and prosperity. In the earliest stages of start-up business creation, the matching of entrepreneurial ventures to investors is critically important. The entrepreneur's business proposition and previous experience are regarded as the main criteria for investment decisions. Our research, however, documents other critical criteria that investors use to make these decisions: the gender and physical attractiveness of the entrepreneurs themselves. Across a field setting (three entrepreneurial pitch competitions in the United States) and two experiments, we identify a profound and consistent gender gap in entrepreneur persuasiveness. Investors prefer pitches presented by male entrepreneurs compared with pitches made by female entrepreneurs, even when the content of the pitch is the same. This effect is moderated by male physical attractiveness: attractive males were particularly persuasive, whereas physical attractiveness did not matter among female entrepreneurs.

The study of venture capital finance and investment behaviour in small and medium-sized enterprises

Directory of Open Access Journals (Sweden)

Patmond Mbhele

2012-03-01

The tentative factor analysis findings suggest an integrated framework for the venture capital industry from the significant intercorrelations among the variables. The most important focus of this article, however, is its attempt to examine the behavioural traits of SMEs and venture capitalists regarding systematic finance and investment for inclusivity and due diligence.

Effectiveness of Loan Guarantees versus Tax Incentives for Space Launch Ventures

Science.gov (United States)

Scottoline, S.; Coleman, R.

1999-01-01

Over the course of the past few years, several new and innovative fully or partiailly reusable launch vehicle designs have been initiated with the objective of reducing the cost of space transportation. These new designs are in various stages hardware development for technology and system demonstrators. The larger vehicles include the Lockheed Martin X-33 technology demonstrator for VentureStar and the Space Access launcher. The smaller launcher ventures include Kelly Space and Technology and Rotary Rocket Company. A common denominator between the new large and small commercial launch systems is the ability to obtain project financing and at an affordable cost. Both are having or will have great difficulty in obtaining financing in the capital markets because of the dollar amounts and the risk involved. The large established companies are pursuing multi-billion dollar developments which are a major challenge to finance because of the size and risk of the projects. The smaller start-up companies require less capital for their smaller systems, however, their lack of corporate financial muscle and launch vehicle track record results in a major challenge to obtain financing also because of high risk. On Wall Street, new launch system financing is a question of market, technical, organizational, legal/regulatory and financial risk. The current limit of acceptable financial risk for Space businesses on Wall Street are the telecommunications and broadcast satellite projects, of which many in number are projected for the future. Tbc recent problems with Iridium market and financial performance are casting a long shadow over new satellite project financing, making it increasingly difficult for the new satellite projects to obtain needed financing.

Lack of production sharing laws slows joint ventures in Russia

International Nuclear Information System (INIS)

Knott, D.

1995-01-01

When Russia opened its doors to foreign oil companies in 1990, there was a rush to secure a piece of the country's potentially vast oil wealth. Since then, many of the ventures between Russian and non-Russian partners have become bogged down with operational problems and an ever changing tax and legal regime. There is a stockpile of massive developments building, while government grinds with seeming reluctance toward passing laws that will allow outside firms to do big business. For major development projects the main stumbling block is the lack of production sharing contract legislation. The paper describes the problems, the current legislation, and operating problems, then highlights several joint ventures that have been successful and several that have ended in pullouts of the foreign investor

Why do entrepreneurial mHealth ventures in the developing world fail to scale?

Science.gov (United States)

Sundin, Phillip; Callan, Jonathan; Mehta, Khanjan

Telemedicine is an increasingly common approach to improve healthcare access in developing countries with fledgling healthcare systems. Despite the strong financial, logistical and clinical support from non-governmental organisations (NGOs), government ministries and private actors alike, the majority of telemedicine projects do not survive beyond the initial pilot phase and achieve their full potential. Based on a review of 35 entrepreneurial telemedicine and mHealth ventures, and 17 reports that analyse their operations and challenges, this article provides a narrative review of recurring failure modes, i.e. factors that lead to failure of such venture pilots. Real-world examples of successful and failed ventures are examined for key take-away messages and practical strategies for creating commercial viable telemedicine operations. A better understanding of these failure modes can inform the design of sustainable and scalable telemedicine systems that effectively address the growing healthcare disparities in developing countries.

THE EFFECT OF REVENUE AND MARKET SEGMENTATION LEVEL TOWARDS VENTURE CAPITAL INVESTMENT IN MOBILE APPLICATION BUSINESS

Directory of Open Access Journals (Sweden)

Dennis Adrian

2014-05-01

Full Text Available The development of mobile applications has mushroomed in local and foreign industries. This provides a tremendous opportunity for developers. For technopreneur developer, the capital to run the business is one of the biggest problems despite the fact that they may have great competence in the field. The fact that the business has big potential market in Indonesia has invited investors from local and overseas to invest as venture capital. However, due to the lack of knowledge on building collaboration with the investors and on understanding the market and investor needs in a long term, the developer finds difficulties to grow its business and to compete with bigger competitors. The research intends to seek the influence in selecting the level of revenue and market segmentation to support the investment decisions in the business of mobile applications, so that the mobile application developer is able to monetize their business to attract investors to invest in the venture capital.

AWRE: Atomic Weapons Research Establishment

International Nuclear Information System (INIS)

1983-01-01

This reviews the work of AWRE at Aldermaston and Foulness. The main programme is nuclear and is concerned with the design and development of warheads for strategic and tactical nuclear weapons for the British nuclear deterrent, including those for the Royal Navy's missile carrying submarine fleet. The work is described grouped as design physics, development and materials. Services to these groups and to the whole establishment are provided by Engineering, Safety and Administration. The work ranges from long-term fundamental research, the development of technology, design, prototype development to the environmental testing of engineered products. In materials research the emphasis is on plutonium, uranium and beryllium, on high explosives and a wide range of inorganic and organic materials. The physics of the earth's crust is studied to aid detection of underground nuclear explosions. Reactor research facilities include the two reactors, Herald and Viper. (U.K.)

Nascent entrepreneurship and the developing individual: Early entrepreneurial competence in adolescence and venture creation success during the career

OpenAIRE

Obschonka, Martin; Silbereisen, Rainer K.; Schmitt-Rodermund, Eva; Stuetzer, Michael

2010-01-01

What predicts a person's venture creation success over the course of the career, such as making progress in the venture creation process and multiple successful venture creations? Applying a life span approach of human development, this study examined the effect of early entrepreneurial competence in adolescence, which was gathered retrospectively by means of the Life History Calendar method. Human and social capitals during the founding process were investigated as mediators between adolesce...

Regional Opportunities and Policy Initiatives for New Venture Creation

NARCIS (Netherlands)

I. Verheul (Ingrid); M.A. Carree (Martin); E. Santarelli (Enrico)

2007-01-01

textabstractThis paper investigates the determinants of new venture creation across industries and locations for 103 Italian provinces between 1997 and 2003. We allow for differences in regional opportunities across industries and investigate the impact of a range of factors on entrepreneurship in

Cultural Distance and the Performance of International Joint Ventures

DEFF Research Database (Denmark)

Christoffersen, Jeppe; Globerman, Steven; Nielsen, Bo Bernhard

2013-01-01

This study provides a critical summary and assessment of the empirical literature on the relationship between cultural distance and the performance of international joint ventures (IJVs) based on studies published over the period 1993-2008. The existing literature reports inconsistent and largely...

78 FR 24192 - J.P. Morgan Ventures Energy Corp. v. Midwest Independent System Operator, Inc. PJM...

Science.gov (United States)

2013-04-24

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. EL13-58-000] J.P. Morgan Ventures Energy Corp. v. Midwest Independent System Operator, Inc. PJM Interconnection, L.L.C.; Notice of Complaint Take notice that on April 10, 2013, J.P. Morgan Ventures Energy Corporation (JPMVEC or Complainant...

Scientific climate change information by collaborative venture and digital portal

Science.gov (United States)

Dubelaar-Versluis, W.

2010-09-01

Klimaatportaal is the digital entry of Dutch ‘climate' knowledge centres, which are collaborated in the Platform Communication on Climate Change (PCCC). This collaborative venture was established in 2003 by the Dutch climate research community to improve the quality, efficiency and effectiveness of the communication of Dutch climate research. By now, eight Dutch knowledge centres are participating and still more want to join. The Ministry of Housing, Spatial Planning and the Environment (VROM) supports the PCCC and the project is implemented in collaboration with the BSIK ‘Climate Changes Spatial Planning' programme. The website provides actual and background climate change information for a wide audience on the national scale from policy makers, media to general public. By supplying integral climate information, such as observations of climate change, causes and consequences of climate system, adaptation, mitigation and energy issues, a wide spectrum of target groups will be served. The information is offered in different forms, because of the needs of different target groups. Klimaatportaal contains therefore news on climate issues, frequently asked questions and popular science reports, like the annually brochure De Staat van het Klimaat (‘The State of the Climate'). Recently, also a portal for students is added, where they can find information for their assignments. Beside the website, PCCC is organising activities as symposia and workshops and is supplying information on international issues, for example the content of the Kyoto protocol and the IPCC fourth assessment report (2007). Finally, informing the public through contacts with the media is also an important part of the PCCC. The presentation will address the strengths and weaknesses of this approach which may serve as an example for combining knowledge in outreach activities in other countries.

Financing of Women-Owned Ventures: The Impact of Gender and Other Owner- and Firm-Related Variables

OpenAIRE

Constantinidis, Christina; Cornet, Annie; Asandei, Simona

2006-01-01

While women-owned ventures represent an increasing proportion of new businesses in most western countries, most of them have particular financing patterns and encounter barriers in their access to financing. Recent research on the question argues that barriers to financing are mainly dependent on factors other than gender, such as owner- and firm-related characteristics. This quantitative and qualitative study, through descriptive statistics and interview analysis, examines the relationship b...

Governance of the venture capital investment: Factors influencing selection of an IT firm

Directory of Open Access Journals (Sweden)

Shailendra Kumar

2016-05-01

Full Text Available The selection of a firm for venture capital investment is not an easy task for any investor and so it is important to decide certain factors based on which a firm will be selected for the investment. This paper is based on the 104 responses generated through fund managers, venture capitalists, managers of financial institutions, bank managers etc. and examined two important aspects, first the factors used by venture capitalists to evaluate an IT in order to make investment decisions and second the importance of factors across different investors. This study was conducted in 2014 to find out the important aspects affecting decision making process while selecting an Information Technology firm. We have analyzed the qualitative and quantitative aspects suggested by the previous studies and studied the relationship between choice of factors among different investors and assigning weightage for them with respect to screening of an IT firm for investment

Motivational Factors: Drivers Behind Women Entrepreneurs’ Decision to Start an Entrepreneurial Venture in Croatia

Directory of Open Access Journals (Sweden)

Fosić Ivana

2017-10-01

Full Text Available A decision to start a business is not easy because it is result of the economic conditions, cultural context, but also “push” and “pull” factors. In order to determine woman motivational factors, a survey of 1,157 Eastern Croatia respondents was conducted. The purpose of the research was to determine which motivations the potential future entrepreneurs believe trigger women entrepreneurs’ decision to start an entrepreneurial venture. The results show that women are considered to be financially motivated. The fact that real-life women entrepreneurs from previous research have stated slightly different motivations shows that there is room for improvement of entrepreneurship education.

Sharing competences in strategic alliances: a case study of the Cosan and Shell biofuel venture

Directory of Open Access Journals (Sweden)

Luciana Florêncio de Almeida

2013-06-01

Full Text Available In a competitive world, the way a firm establishes its organizational arrangements may determine the enhancement of its core competences and the possibility of reaching new markets. Firms that find their skills to be applicable in just one type of market encounter constraints in expanding their markets, and through alliances may find a competitive form of value capture. Hybrid forms of organization appear primarily as an alternative to capturing value and managing joint assets when the market and hierarchy modes do not present any yields for the firm's competitiveness. As a result, this form may present other challenging issues, such as the allocation of rights and principal-agent problems. The biofuel market has presented a strong pattern of changes over the last 10 years. New intra-firm arrangements have appeared as a path to participate or survive among global competition. Given the need for capital to achieve better results, there has been a consistent movement of mergers and acquisitions in the Biofuel sector, especially since the 2008 financial crisis. In 2011 there were five major groups in Brazil with a grinding capacity of more than 15 million tons per year: Raízen (joint venture formed by Cosan and Shell, Louis Dreyfus, Tereos Petrobras, ETH, and Bunge. Major oil companies have implemented the strategy of diversification as a hedge against the rising cost of oil. Using the alliance of Cosan and Shell in the Brazilian biofuel market as a case study, this paper analyses the governance mode and challenging issues raised by strategic alliances when firms aim to reach new markets through the sharing of core competences with local firms. The article is based on documentary research and interviews with Cosan's Investor Relations staff, and examines the main questions involving hybrid forms through the lens of the Transaction Cost Economics (TCE, Agency Theory, Resource Based View (RBV, and dynamic capabilities theoretical approaches. One

E-Commerce New Venture Performance: How Funding Impacts Culture.

Science.gov (United States)

Hamilton, R. H.

2001-01-01

Explores the three primary methods of funding for e-commerce startups and the impact that funding criteria have had on the resulting organizational cultures. Highlights include self-funded firms; venture capital funding; corporate funding; and a table that compares the three types, including examples. (LRW)

One Mission-Centered, Market-Smart Globalization Response: A Case Study of the Georgia Tech-Emory University Biomedical Engineering Curricular Joint Venture

Science.gov (United States)

Burriss, Annie Hunt

2010-01-01

One innovative, higher-education response to globalization and changing fiscal realities is the curricular joint venture (CJV), a formal collaboration between academic institutions that leverages missions through new joint degrees and research not previously offered by collaborating institutions (Eckel, 2003). In 1997, a pioneering biomedical…

75 FR 28656 - New United Motor Manufacturing, Inc., Formerly a Joint Venture of General Motors Corporation, and...

Science.gov (United States)

2010-05-21

... Manufacturing, Inc., Formerly a Joint Venture of General Motors Corporation, and Toyota Motor Corporation, Including On- Site Leased Workers From Corestaff, ABM Janitorial, and Toyota Engineering and Manufacturing... joint venture of General Motors Corporation and Toyota Motor Corporation, including on-site leased...

75 FR 62424 - New United Motor Manufacturing, Inc. Formerly a Joint Venture of General Motors Corporation and...

Science.gov (United States)

2010-10-08

... Manufacturing, Inc. Formerly a Joint Venture of General Motors Corporation and Toyota Motor Corporation Including On- Site Leased Workers From Corestaff, ABM Janitorial, Toyota Engineering and Manufacturing North... Manufacturing, Inc., formerly a joint venture of General Motors Corporation and Toyota Motor Corporation...

76 FR 10396 - New United Motor Manufacturing, Inc., Formerly a Joint Venture of General Motors Corporation and...

Science.gov (United States)

2011-02-24

... Manufacturing, Inc., Formerly a Joint Venture of General Motors Corporation and Toyota Motor Corporation, Including On- Site Leased Workers From Corestaff, ABM Janitorial, Toyota Engineering and Manufacturing North... Motor Manufacturing, Inc., formerly a joint venture of General Motors Corporation and Toyota Motor...

Venture Creation Programs: Bridging Entrepreneurship Education and Technology Transfer

Science.gov (United States)

Lackéus, Martin; Williams Middleton, Karen

2015-01-01

Purpose: The purpose of this paper is to explore how university-based entrepreneurship programs, incorporating real-life venture creation into educational design and delivery, can bridge the gap between entrepreneurship education and technology transfer within the university environment. Design/methodology/approach: Based on a literature review…

Lock-In Agreements in Venture Capital Backed UK IPOs

NARCIS (Netherlands)

Espenlaub, S.; Goergen, M.; Khurshed, A.; Renneboog, L.D.R.

2002-01-01

This paper examines the impact of venture-capital backing of UK companies issuing shares at flotation on the characteristics of the lock-in agreements entered into by the existing shareholders, and on the abnormal returns realised around the expiry of the directors' lock-in agreements.The study

Joint ventures e a política antitruste brasileira

Directory of Open Access Journals (Sweden)

Ana Paula Avellar

2012-12-01

Full Text Available As políticas de defesa da concorrência integram atualmente o conjunto fundamental de instituições necessárias à promoção do crescimento e a busca das sociedades por arranjos mais eficientes. O presente trabalho tem como objetivo realizar uma análise da política antitruste brasileira concentrando-se no tratamento dado pelas autoridades à constituição de joint ventures. Na realização dessa tarefa, foram feitas revisões teóricas, constatações acerca dos procedimentos de autoridades internacionais sobre o assunto e um estudo empírico abordando casos julgados no Brasil entre os anos de 2002 e 2010. O resultado encontrado revela a inexistência de normatização específica para o tratamento das joint ventures no Brasil, culminando, assim, em uma relativa discricionariedade por parte dos órgãos do SBDC na análise desses atos.

Exploring Best Practice Skills to Predict Uncertainties in Venture Capital Investment Decision-Making

Science.gov (United States)

Blum, David Arthur

Algae biodiesel is the sole sustainable and abundant transportation fuel source that can replace petrol diesel use; however, high competition and economic uncertainties exist, influencing independent venture capital decision making. Technology, market, management, and government action uncertainties influence competition and economic uncertainties in the venture capital industry. The purpose of this qualitative case study was to identify the best practice skills at IVC firms to predict uncertainty between early and late funding stages. The basis of the study was real options theory, a framework used to evaluate and understand the economic and competition uncertainties inherent in natural resource investment and energy derived from plant-based oils. Data were collected from interviews of 24 venture capital partners based in the United States who invest in algae and other renewable energy solutions. Data were analyzed by coding and theme development interwoven with the conceptual framework. Eight themes emerged: (a) expected returns model, (b) due diligence, (c) invest in specific sectors, (d) reduced uncertainty-late stage, (e) coopetition, (f) portfolio firm relationships, (g) differentiation strategy, and (h) modeling uncertainty and best practice. The most noteworthy finding was that predicting uncertainty at the early stage was impractical; at the expansion and late funding stages, however, predicting uncertainty was possible. The implications of these findings will affect social change by providing independent venture capitalists with best practice skills to increase successful exits, lessen uncertainty, and encourage increased funding of renewable energy firms, contributing to cleaner and healthier communities throughout the United States..

BP/Mobil. Joint-venture directions for use

International Nuclear Information System (INIS)

Anon.

1997-01-01

This paper analyzes the economical reasons which have led BP and Mobil companies to join their forces in 1996. Thanks to their complementarity and to their European implantation, the two companies could win the first or second position in petroleum products marketing in 8 European countries. The cumulated petrol sales and the number of petrol stations of the BP/Mobil joint venture are the highest in Europe (800 petrol stations in France). (J.S.)

75 FR 26794 - New United Motor Manufacturing, Inc., Formerly a Joint Venture of General Motors Corporation and...

Science.gov (United States)

2010-05-12

... Manufacturing, Inc., Formerly a Joint Venture of General Motors Corporation and Toyota Motor Corporation... United Motor Manufacturing, Inc., formerly a joint venture of General Motors Corporation and Toyota Motor... reviewed the certification for workers of the subject firm. The workers assemble the Toyota Corolla and the...

Les Joints-Venture Internationales dans La Construction Europeénne

DEFF Research Database (Denmark)

Bonke, Sten; Campacnac, Elisabeth; Stanghellini, Stefano

This text presents a condensed, yet comprehensive review of the methodology and interim findings of a large international comparative study. Construction joint-ventures in five European countries have been investigated with the aim of identifying preconditions to and consequenses...

Analysis of Cooperative Education as a Work/Education Joint Venture.

Science.gov (United States)

Wilson, James W.

1984-01-01

Examines why joint ventures are formed and discusses a number of factors related to the success of such interaction. Focus is on four factors: goal compatibility, boundary-spanning structures and processes, locus of need satisfaction, and organizational incentives. (CT)

77 FR 59184 - J.P. Morgan Ventures Energy Corporation; Notice of Initiation of Proceeding and Refund Effective...

Science.gov (United States)

2012-09-26

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. EL12-103-000] J.P. Morgan... statements by J.P. Morgan Ventures Energy Corporation constitute violations of section 35.41(b) of the Commission's regulations under the Federal Power Act (FPA).\\1\\ J.P. Morgan Ventures Energy Corporation, 140...

Establishing a 'track record': research productivity and nursing academe.

Science.gov (United States)

Emden, C

1998-01-01

Many nursing academics in Australia are finding to their dismay that an outstanding teaching career and exemplary professional contribution to their field--and a PhD--are not enough to achieve promotion within their university, or secure a new academic post. One must also possess a proven or established 'track record' in research and publication. The operational funding arrangements for Australian universities rely in part on the research productivity of their academic staff members. This places special expectation upon the way academics conduct their scholarly work. Nursing academics are under particular pressure: as relative newcomers to the university scene, most find themselves considered as early career researchers with weak track records. This paper reviews relevant research and draws upon personal experience in the area of research development, to highlight how nursing academics may most strategically establish a research and publication record with a view to career advancement.

Colorado River Sewer System Joint Venture to Upgrade Wastewater System

Science.gov (United States)

SAN FRANCISCO -Today, the Colorado River Sewer System Joint Venture, located in Parker, Ariz. entered into an agreement with the EPA to upgrade their wastewater treatment system to meet stringent water quality standards. The cost of the upgrade is ap

The impact of the Tulane-HCA joint venture on academic and clinical missions.

Science.gov (United States)

Whitecloud, T S; Smathers, J E; Barrack, R L

2001-10-01

As with any joint venture in any given industry, positive and negative impacts are felt. Tulane University School of Medicine experienced impacts on its academic and clinical missions as a result of the joint venture between Tulane University and HCA, a for-profit public company. The laws of business had entered the halls of medicine. Although patients, personnel, and physicians experienced culture shock and inconveniences, Tulane University School of Medicine has been able to maintain viable training programs, and its faculty physicians have a hospital and corporately run clinics across the street. In addition, multidisciplinary centers of excellence, long spoken of in the academic realm, came to fruition through the corporate world. This may not have been the case, had Tulane University not entered into ajoint venture with HCA. Is it worth the effort? For Tulane University, whether one likes the entire package or not, the answer must be yes. The greatest impact is that the orthopaedic surgeons still are in a position to fulfill their academic and clinical missions.

The JOVE initiative - A NASA/university Joint Venture in space science

Science.gov (United States)

Six, F.; Chappell, R.

1990-01-01

The JOVE (NASA/university Joint Venture in space science) initiative is a point program between NASA and institutions of higher education whose aim is to bring about an extensive merger between these two communities. The project is discussed with emphasis on suggested contributions of partnership members, JOVE process timeline, and project schedules and costs. It is suggested that NASA provide a summer resident research associateship (one ten week stipend); scientific on-line data from space missions; an electronic network and work station, providing a link to the data base and to other scientists; matching student support, both undergraduate and graduate; matching summer salary for up to three faculty participants; and travel funds. The universities will be asked to provide research time for faculty participants, matching student support, matching summer salary for faculty participants, an instructional unit in space science, and an outreach program to pre-college students.

Endangered Species and North American Waterfowl Management Plan Joint Venture Areas

National Research Council Canada - National Science Library

Allred, Karla

1996-01-01

...) Endangered Species Recovery Plans that meet the recovery plan requirements; and the percent of Corps acreage included within North American Waterfowl Management Joint Venture Implementation Plans where proposed work has been accomplished...

75 FR 77190 - Exemptions for Advisers to Venture Capital Funds, Private Fund Advisers With Less Than $150...

Science.gov (United States)

2010-12-10

...\\ Goldstein v. Securities and Exchange Commission, 451 F.3d 873 (D.C. Cir. 2006) (``Goldstein''). \\19\\ Section....'''). See also Loy Testimony, supra note 40, at 7 (noting the factors by which the venture capital industry... capital'' activity in capital formation for small businesses.\\47\\ The BDC provisions and venture capital...

Corporate Venture Capital im Bankensektor: Eine Fallstudie

OpenAIRE

Maxin, Hannes

2015-01-01

Die Digitalisierung der Gesellschaft beeinflusst zunehmend das klassische Bankgeschäft, was durch die Erfolge vieler junger FinTech-Unternehmen verdeutlicht wird. Der damit verbundene Innovationsdruck führte dazu, dass die Commerzbank AG im Oktober 2013 die Main Incubator GmbH gründete. Mithilfe dieser Corporate Venture Capital-Gesellschaft (CVC-Gesellschaft) versucht die Frankfurter Großbank, eine Kooperation mit den neuen Wettbewerbern einzugehen, um mögliche Synergiepotenziale für das eige...

Methods Dealing with Complexity in Selecting Joint Venture Contractors for Large-Scale Infrastructure Projects

Directory of Open Access Journals (Sweden)

Ru Liang

2018-01-01

Full Text Available The magnitude of business dynamics has increased rapidly due to increased complexity, uncertainty, and risk of large-scale infrastructure projects. This fact made it increasingly tough to “go alone” into a contractor. As a consequence, joint venture contractors with diverse strengths and weaknesses cooperatively bid for bidding. Understanding project complexity and making decision on the optimal joint venture contractor is challenging. This paper is to study how to select joint venture contractors for undertaking large-scale infrastructure projects based on a multiattribute mathematical model. Two different methods are developed to solve the problem. One is based on ideal points and the other one is based on balanced ideal advantages. Both of the two methods consider individual difference in expert judgment and contractor attributes. A case study of Hong Kong-Zhuhai-Macao-Bridge (HZMB project in China is used to demonstrate how to apply these two methods and their advantages.

Establishment for Nuclear Equipment: Overview

International Nuclear Information System (INIS)

Pracz, J.

2000-01-01

Full text: The main objective of the activity of the Establishment for Nuclear Equipment (ZdAJ) in 1999 was to obtain the ISO 9001 certificate. Work on this problem has been successfully completed. The changes introduced in agreement with requirements of ISO in supervising the construction, manufacturing and servicing eliminate possible deficiencies of our products and will pay in the future. Two new important ventures have been undertaken: design of an accelerator with two photon energies and a reconstruction of simulator directed towards better geometrical parameters. The completion of the improvements in accelerator is foreseen for the year 2002. The changes comprise almost all sub-assemblies of the device. The modernized simulator will be installed in the hospital already in the year 2000 - the ameliorations concern mainly the arm of the apparatus, collimator, driving gears and control system. Of course - apart from this, the routine production activity of the Establishment was continued in 1999. (author)

Improve Research Visibility by Establishing an Academic Blog

OpenAIRE

Ebrahim, Nader Ale

2016-01-01

Academic blogs help researchers to establish expertise, forge new intellectual bonds in their discipline, and give them a place to test out new ideas and promote their research. Blog services provide your research seen by more non-academics than your peer reviewed papers will ever be.  The importance of Academic Blog is not to be dismissed. Blogs are a vital tool for academics to publicly communicate about research developments and findings. Academics can also gain feedback from other peers, ...

Political, Economic, Socio-Cultural, and Educational Challenges of Administering a Sino-US Joint Venture Campus in China

Science.gov (United States)

Ozturgut, Osman

2008-01-01

This qualitative study explored the political, economic, socio-cultural, and educational challenges of administering a Sino-U.S. joint-venture campus in the People's Republic of China. China American University (CAU) is an educational joint venture between China Investment Company (CIC) and American University (AU) in the U.S. that resulted in…

Communications satellite business ventures - Measuring the impact of technology programmes and related policies

Science.gov (United States)

Greenberg, J. S.

1986-01-01

An economic evaluation and planning procedure which assesses the effects of various policies on fixed satellite business ventures is described. The procedure is based on a stochastic financial simulation model, the Domsat II, which evaluates spacecraft reliability, market performance, and cost uncertainties. The application of the Domsat II model to the assessment of NASA's ion thrusters for on-orbit propulsion and GaAs solar cell technology is discussed. The effects of insurance rates and the self-insurance option on the financial performance of communication satellite business ventures are investigated. The selection of a transportation system for placing the satellites into GEO is analyzed.

Market entry and exit by biotech and device companies funded by venture capital.

Science.gov (United States)

Burns, Lawton R; Housman, Michael G; Robinson, Charles A

2009-01-01

Start-up companies in the biotechnology and medical device sectors are important sources of health care innovation. This paper describes the role of venture capital in supporting these companies and charts the growth in venture capital financial support. The paper then uses longitudinal data to describe market entry and exit by these companies. Similar factors are associated with entry and exit in the two sectors. Entries and exits in one sector also appear to influence entry in the other. These findings have important implications for developing innovative technologies and ensuring competitive markets in the life sciences.

Venture capital and private equity investment preferences in selected countries

Directory of Open Access Journals (Sweden)

Krzysztof Dziekoński

2016-01-01

Full Text Available Sources of capital to finance companies in the SME sector is one of the basic conditions for the functioning and development of enterprises, especially in the early phase of their development. Increasingly popular is the use of capital market instruments, Private Equity, Venture Capital, Business Angels or Mezzanine. Funding of this kind can finance risky investments in return for a higher expected rate of return on capital. Access to financial resources and the conditions under which entrepreneurs can use them can determine the introduction of new technology, new products and services, expand distribution channels, implement changes that may lead to the growth in competitiveness and above all, innovation, thus the growth of the company. The paper presents results of statistical analysis of the venture capital and private equity funds investment strategies in selected countries. As a result investment profiles are created.

Do business angels alter the risk-return equation in early stage investments? Business angels as seen by venture capitalists in the German speaking countries

OpenAIRE

Heukamp, Franz; Liechtenstein, Heinrich; Wakeling, Nick

2006-01-01

Venture capitalists in German-speaking countries do not value the contribution of business angels in co-invested deals. Business angels do not reduce the risk perceived by venture capitalists in early-stage deals, even if the business angels have what venture capitalists regard as an ideal profile. Venture capitalists also refute that deals with business angels typically generate higher internal rates of return than deals without business angels.

Sustainable venture capital – catalyst for sustainable start-up success?

NARCIS (Netherlands)

Bocken, N.M.P.

2015-01-01

To address global sustainability challenges, major investments are required in sustainable businesses that deliver triple bottom line results. Although interest in sustainable businesses is on the rise, these businesses are not yet widespread. Venture capital investment has a key role to play in the

Determinants of Success in Private Equity-Venture Capital Investments

Directory of Open Access Journals (Sweden)

Antonio Gledson de Carvalho

2011-06-01

Full Text Available This paper investigates the determinants of performance of the investments of private equity and venture capital (PEVC funds in Brazil. We use two unique databases: the First Brazilian Private Equity and Venture Capital Census and the Guia-GVcepe Endeavor, with information on this industry for the period 1999 to 2007. As measures of performance we use the percentage and number of exits through IPO, acquisition by a company or by another investor. Our results indicate that the factors influencing the performance of investments are: size of the fund, number of investments, the practice of co-investment, experience and foreign origin of the managing organization, focus on late stage, intensity of contact between managers and portfolio companies and the number of seats on the boards of the invested companies. The number of successes grows with the number of investments at a declining rate. This can indicate 1 a limit to the ability of managers or 2 that a large number of investments allows for greater diversification of risk, directing investments to companies of high risk but with a high upside.

LNG ventures raise economic, technical, partnership issues

International Nuclear Information System (INIS)

Acord, H.K.

1995-01-01

The author feels that natural gas will remain a competitive energy alternative and the preferred fuel for many residential and industrial customers around the globe. The article attempts to explain where liquefied natural gas will fit into the global picture. The paper discusses the growth in the Asia-Pacific region; the complex interactions in a LNG project involving buyers, sellers, governments, financial institutions, and shipping companies; the cost of development of such projects; and the elements of a LNG venture

K-12 Marketplace Sees Major Flow of Venture Capital

Science.gov (United States)

Ash, Katie

2012-01-01

The flow of venture capital into the K-12 education market has exploded over the past year, reaching its highest transaction values in a decade in 2011, industry observers say. They attribute that rise to such factors as a heightened interest in educational technology; the decreasing cost of electronic devices such as tablet computers, laptops,…

Class D management implementation approach of the first orbital mission of the Earth Venture series

Science.gov (United States)

Wells, James E.; Scherrer, John; Law, Richard; Bonniksen, Chris

2013-09-01

A key element of the National Research Council's Earth Science and Applications Decadal Survey called for the creation of the Venture Class line of low-cost research and application missions within NASA (National Aeronautics and Space Administration). One key component of the architecture chosen by NASA within the Earth Venture line is a series of self-contained stand-alone spaceflight science missions called "EV-Mission". The first mission chosen for this competitively selected, cost and schedule capped, Principal Investigator-led opportunity is the CYclone Global Navigation Satellite System (CYGNSS). As specified in the defining Announcement of Opportunity, the Principal Investigator is held responsible for successfully achieving the science objectives of the selected mission and the management approach that he/she chooses to obtain those results has a significant amount of freedom as long as it meets the intent of key NASA guidance like NPR 7120.5 and 7123. CYGNSS is classified under NPR 7120.5E guidance as a Category 3 (low priority, low cost) mission and carries a Class D risk classification (low priority, high risk) per NPR 8705.4. As defined in the NPR guidance, Class D risk classification allows for a relatively broad range of implementation strategies. The management approach that will be utilized on CYGNSS is a streamlined implementation that starts with a higher risk tolerance posture at NASA and that philosophy flows all the way down to the individual part level.

Class D Management Implementation Approach of the First Orbital Mission of the Earth Venture Series

Science.gov (United States)

Wells, James E.; Scherrer, John; Law, Richard; Bonniksen, Chris

2013-01-01

A key element of the National Research Council's Earth Science and Applications Decadal Survey called for the creation of the Venture Class line of low-cost research and application missions within NASA (National Aeronautics and Space Administration). One key component of the architecture chosen by NASA within the Earth Venture line is a series of self-contained stand-alone spaceflight science missions called "EV-Mission". The first mission chosen for this competitively selected, cost and schedule capped, Principal Investigator-led opportunity is the CYclone Global Navigation Satellite System (CYGNSS). As specified in the defining Announcement of Opportunity, the Principal Investigator is held responsible for successfully achieving the science objectives of the selected mission and the management approach that he/she chooses to obtain those results has a significant amount of freedom as long as it meets the intent of key NASA guidance like NPR 7120.5 and 7123. CYGNSS is classified under NPR 7120.5E guidance as a Category 3 (low priority, low cost) mission and carries a Class D risk classification (low priority, high risk) per NPR 8705.4. As defined in the NPR guidance, Class D risk classification allows for a relatively broad range of implementation strategies. The management approach that will be utilized on CYGNSS is a streamlined implementation that starts with a higher risk tolerance posture at NASA and that philosophy flows all the way down to the individual part level.

A CBO PAPER: The Budgetary Treatment of Leases and Public/Private Ventures

National Research Council Canada - National Science Library

Clay-Mendex, Deborah

2003-01-01

Federal agencies sometimes use long-term leases and special-purpose public/private ventures to acquire capital assets without having to obtain Congressional appropriations for the full costs up front...

'Soft' human resource management in small international joint ventures:Cases from the Danish-Vietnamese context

OpenAIRE

Dao, Li

2012-01-01

This paper examines the value creation aspects of HRM in international joint ventures of a relatively small size and their implications for strategic management. We assume that HRM in this context is rather a process than a function, and a ‘soft’ – humanistic rather than a ‘hard’, instrumentalist managerial approach. Using cases from a modest sample of Danish – Vietnamese joint ventures, we propose that HRM is significantly associated with creating a healthy and adaptive environment for mutua...

10 CFR 1021.216 - Procurement, financial assistance, and joint ventures.

Science.gov (United States)

2010-01-01

... competitive solicitations, unless the action is categorically excluded from preparation of an EA or EIS under...-source joint ventures, unless the action is categorically excluded from preparation of an EA or EIS under... reasoned decision. (g) The environmental critique will focus on environmental issues that are pertinent to...

Government Venture Capital: A Case Study of the In-Q-Tel Model

National Research Council Canada - National Science Library

Belko, Michael

2004-01-01

.... They engaged the IT sector through In-Q-Tel, a venture capital firm that invests Agency money in companies that could produce commercially viable technologies to fill the Intelligence Community's (IC...

Venture Capital and Other Private Equity: A Survey

OpenAIRE

Andrew Metrick; Ayako Yasuda

2010-01-01

We review the theory and evidence on venture capital (VC) and other private equity: why professional private equity exists, what private equity managers do with their portfolio companies, what returns they earn, who earns more and why, what determines the design of contracts signed between (i) private equity managers and their portfolio companies and (ii) private equity managers and their investors (limited partners), and how/whether these contractual designs affect outcomes. Findings highlig...

Joint Research Centre. Ispra establishment-Italy

International Nuclear Information System (INIS)

Angelini, Antonio

1976-01-01

A comprehensive review of the work carried out during 1974 and 1975 in the Ispra establishment of the Joint Research Centre is presented. A description of the activity carried out within the context of the running programmes is given. Some of the most relevant scientific and technical achievement are described from the viewpoints of the Scientific Departments of the Centre. The technical and administrative support activities are also presented. A list of publications issued by the Ispra Scientific staff is given

Establishing the credibility of qualitative research findings: the plot thickens.

Science.gov (United States)

Cutcliffe, J R; McKenna, H P

1999-08-01

Qualitative research is increasingly recognized and valued and its unique place in nursing research is highlighted by many. Despite this, some nurse researchers continue to raise epistemological issues about the problems of objectivity and the validity of qualitative research findings. This paper explores the issues relating to the representativeness or credibility of qualitative research findings. It therefore critiques the existing distinct philosophical and methodological positions concerning the trustworthiness of qualitative research findings, which are described as follows: quantitative studies should be judged using the same criteria and terminology as quantitative studies; it is impossible, in a meaningful way, for any criteria to be used to judge qualitative studies; qualitative studies should be judged using criteria that are developed for and fit the qualitative paradigm; and the credibility of qualitative research findings could be established by testing out the emerging theory by means of conducting a deductive quantitative study. The authors conclude by providing some guidelines for establishing the credibility of qualitative research findings.

Development of New B2B Venture Corporate Brand Identity

DEFF Research Database (Denmark)

Törmälä, Minna; Gyrd-Jones, Richard I.

2017-01-01

of interviews and archival data generated during a three-year period to examine the development of corporate brand over time. This study shows that the development of corporate brand identity and the context of the development of new B2B venture are closely intertwined processes and provides a framework...

Sharing the Proceeds from a Hierarchical Venture

DEFF Research Database (Denmark)

Hougaard, Jens Leth; Moreno-Ternero, Juan D.; Tvede, Mich

2017-01-01

We consider the problem of distributing the proceeds generated from a joint venture in which the participating agents are hierarchically organized. We introduce and characterize a family of allocation rules where revenue ‘bubbles up’ in the hierarchy. The family is flexible enough to accommodate...... the no-transfer rule (where no revenue bubbles up) and the full-transfer rule (where all the revenues bubble up to the top of the hierarchy). Intermediate rules within the family are reminiscent of popular incentive mechanisms for social mobilization or multi-level marketing....

Joint-venture proposals strengthen hospital-physician relationship.

Science.gov (United States)

Rovinsky, M

2000-12-01

By proposing the joint-venture development of an ambulatory surgery center and medical office space with a group practice, one hospital succeeded in enhancing its relationship with the practice and paved the way for future collaboration. Although the hospital's proposal to jointly develop an ambulatory surgery center was not accepted, the hospital was able to dissuade the group practice from developing a competing ambulatory surgery facility while increasing the group's trust in and loyalty to the hospital. As a result, the hospital potentially will benefit from increased inpatient admissions.

Corporate venture capital: geração e acompanhamento de oportunidades de investimento em empresas inovadoras Corporate Venture Capital: originating and monitoring investment opportunities in innovative companies

Directory of Open Access Journals (Sweden)

Thiago Pinheiro Faury

2013-01-01

Full Text Available O objetivo deste trabalho é compreender a utilização de estruturas corporate venture capital - CVC (capital de risco corporativo, identificando as motivações e as dificuldades no processo de implementação, com foco nos estágios de geração e acompanhamento de oportunidades de investimentos. A abordagem metodológica pautou-se inicialmente por uma revisão de literatura, seguida de um estudo de caso em uma empresa com unidade de novos negócios voltada ao CVC. Finalmente, foi utilizado um painel de especialistas da área de VC, composto por três grupos de especialistas: Mercado, Empreendedores e Neutro (acadêmicos, consultores em inovação e gerentes de incubadoras. Com o auxílio do software ATLAS.ti foi feita a análise de conteúdo dos discursos dos entrevistados, gerando um interessante painel a respeito das práticas de venture capital que poderá orientar não só a organização estudada, como também aos envolvidos na indústria de capital de risco, inovação e empreendedorismo. O trabalho aponta para a busca de opções de investimentos alinhadas aos mercados alvo, mas também de empreendedores alinhados à filosofia da organização. Também se observou diferenças na percepção entre os atores do painel de especialistas. Finalmente, foi destacada a importância de intermediários na aproximação das empresas inovadoras e o CVC.This study aims to understand the use of corporate venture capital structures (CVCs, identifying the motivations and difficulties in the implementation process, with focus on the generation and monitoring of investment opportunities. The methodological approach was based on a literature review, followed by an exploratory study performed in a service firm, especially in the new business unit dedicated to CVCs. Finally, we used a panel of specialists of the VC, composed of three groups of experts: Market, Entrepreneurs, and Neutral (academics, consultants, and managers of innovation incubators. The

Local Competence Building and International Venture Capital in Low Income Countries

DEFF Research Database (Denmark)

Hain, Daniel; Jurowetzki, Roman

2017-01-01

Purpose: In this paper, we explore the new phenomenon of international high-tech investments into entrepreneurial ventures at the case of Kenya. Classifying investors and start-ups, and mapping the interaction structure between them, we aim at identifying investment patterns that can contribute...

Establishing a Radiation Protection Programme for a Research Reactor

International Nuclear Information System (INIS)

Abdallah, M. M.

2014-04-01

The nature and intensity of radiation from the operation of a research reactor depend on the type of reactor, its design features and its operational history. The protection of workers from the harmful effect of radiation must therefore be of paramount importance to any operating organization of a research reactor. This project report attempts to establish an operational radiation protection programme for a research reactor using the Ghana Research Reactor-1 as a case study. (au)

Establishment of the Neutron Beam Research Facility at the OPAL Reactor

International Nuclear Information System (INIS)

Kennedy, S.J.; Robinson, R.A.

2012-01-01

Full text: Australia's first research reactor, HIFAR, reached criticality in January 1958. At that time Australia's main agenda was establishment of a nuclear power program. HIFAR operated for nearly 50 years, providing a firm foundation for the establishment of Australia's second generation research Reactor OPAL, which reached criticality in August 006. In HIFAR's early years a neutron beam facility was established for materials characterization, partly in aid of the nuclear energy agenda and partly in response to interest from Australia's scientific community. By the time Australia's nuclear energy program ceased (in the 1970s), radioisotope production and research had also been established at Lucas Heights. Also, by this time the neutron beam facility for scientific research had evolved into a major utilization programme, warranting establishment of an independent body to facilitate scientific access (the Australian Institute for Nuclear Science and Engineering). In HIFAR's lifetime, ANSTO established a radiopharmaceuticals service for the Australian medical community and NDT silicon production was also established and grew to maturity. So when time came to determine the strategy for nuclear research in Australia into the 21st century, it was clear that the replacement for HIFAR should be multipurpose, with major emphases on scientific applications of neutron beams and medical isotope production. With this strategy in mind, ANSTO set about to design and build OPAL with a world-class neutron beam facility, capable of supporting a large and diverse scientific research community. The establishment of the neutron beam facility became the mission of the Bragg Institute management team. This journey began in 1997 with establishment of a working budget, and reached its first major objective when OPAL reached 20 MW thermal power nearly one decade later (in 2006). The first neutron beam instruments began operation soon after (in 2007), and quickly proved themselves to be

Preparing for Organisational Learning by HK Infrastructure Project Joint Ventures Organizations.

Science.gov (United States)

Walker, Derek H. T.; Johannes, Derick S.

2003-01-01

Interviews with nine Hong Kong managers involved in joint ventures with other organizations focused on the organizational learning aspects of collaboration: attitudes toward interorganizational learning, acquisition of knowledge assets, and learning motivation. An important motivation for developing alliances was to learn from each other, fill…

Curricular Joint Ventures: A New Chapter in US Cross-Border Education?

Science.gov (United States)

Eckel, Peter D.; Green, Madeleine F.; Affolter-Caine, Britany

2004-01-01

For universities in industrialized nations such as the United States, globalization poses relatively little threat and offers many benefits. This article identifies and describes one trend emerging from globalization--how American colleges and universities are leveraging their curricula internationally through joint ventures between universities…

Understanding rapid internationalization of new low-technology ventures from emerging economies

DEFF Research Database (Denmark)

Turcan, Romeo V.

2012-01-01

This theory-building study makes an attempt to advance the field of international entrepreneurship that is (i) fragmented and suffers from theoretical paucity, as well as from coverage bias by focusing mostly on high-technology international new ventures from developed economies and (ii) that needs...

Launching a world-class joint venture.

Science.gov (United States)

Bamford, James; Ernst, David; Fubini, David G

2004-02-01

More than 5,000 joint ventures, and many more contractual alliances, have been launched worldwide in the past five years. Companies are realizing that JVs and alliances can be lucrative vehicles for developing new products, moving into new markets, and increasing revenues. The problem is, the success rate for JVs and alliances is on a par with that for mergers and acquisitions--which is to say not very good. The authors, all McKinsey consultants, argue that JV success remains elusive for most companies because they don't pay enough attention to launch planning and execution. Most companies are highly disciplined about integrating the companies they target through M&A, but they rarely commit sufficient resources to launching similarly sized joint ventures or alliances. As a result, the parent companies experience strategic conflicts, governance gridlock, and missed operational synergies. Often, they walk away from the deal. The launch phase begins with the parent companies' signing of a memorandum of understanding and continues through the first 100 days of the JV or alliance's operation. During this period, it's critical for the parents to convene a team dedicated to exposing inherent tensions early. Specifically, the launch team must tackle four basic challenges. First, build and maintain strategic alignment across the separate corporate entities, each of which has its own goals, market pressures, and shareholders. Second, create a shared governance system for the two parent companies. Third, manage the economic interdependencies between the corporate parents and the JV. And fourth, build a cohesive, high-performing organization (the JV or alliance)--not a simple task, since most managers come from, will want to return to, and may even hold simultaneous positions in the parent companies. Using real-world examples, the authors offer their suggestions for meeting these challenges.

Safety infrastructure for countries establishing their first research reactor

International Nuclear Information System (INIS)

Abou Yehia, H.; Shokr, A.M.

2010-01-01

Establishment of a research reactor is a major project requiring careful planning, preparation, implementation, and investment in time and human resources. The implementation of such a project requires establishment of sustainable infrastructures, including legal and regulatory, safety, technical, and economic. An analysis of the needs for a new research reactor facility should be performed including the development of a utilization plan and evaluation of site availability and suitability. All these elements should be covered by a feasibility study of the project. This paper discusses the elements of such a study with the main focus on the specific activities and steps for developing the necessary safety infrastructure. Progressive involvement of the main organizations in the project, and application of the IAEA Code of Conduct on the Safety of Research Reactors and IAEA Safety Standards in different phases of the project are presented and discussed. (author)

The physician/hospital joint venture. Developing a win/win strategy for success. Part I: The first step: developing the environment.

Science.gov (United States)

Shorr, A B

1987-02-01

This four part series, "The Physician/Hospital Joint Venture: Developing a Win/Win Strategy," will examine the philosophical basis of marketing to physicians, the options for the organization in formulating a strategy for joint venture development, structuring and negotiating the deal, and finally how to build the physician loyalty and commitment essential for the joint venture's continued success. In this first article, the author emphasizes the organization's need to develop a strategic plan that includes a program for attracting physicians. It also points out the need for sensitivity to physicians' concerns and provides examples of successes and failures.

The Consequences of Commercialization Choices for New Entrants in High-Tech Industries: A Venture Emergence Perspective

DEFF Research Database (Denmark)

Giones, Ferran; Gurses, Kerem

for these different markets. We test our hypotheses on longitudinal dataset of 453 new firms started in 2004 in different high-tech industries in the US. We find that that technology and human capital resources favor the adoption of alternative commercialization strategies; nevertheless, we do not observe significant...... differences in the venture emergence or survival likelihood. Our findings offer a closer view of the venture emergence process of new firms, clarifying the causes and consequences of the technology commercialization choices....

Law-Based Ontology for E-Government Services Construction - Case Study: The Specification of Services in Relationship with the Venture Creation in Switzerland

Science.gov (United States)

Khadraoui, Abdelaziz; Opprecht, Wanda; Léonard, Michel; Aïdonidis, Christine

The compliance of e-government services with legal aspects is a crucial issue for administrations. This issue becomes more difficult with the fast-evolving dynamics of laws. This chapter presents our approach to describe and establish the link between e-government services and legal sources. This link is established by an ontology called “law-based ontology.” We use this ontology as means to define and to construct e-government services. The proposed approach is illustrated with one case study: the specification of services in relationship with the venture ­creation in Switzerland and in the State of Geneva. We have selected the Commercial Register area which mainly encompasses the registration of a new company and the modification of its registration.

A JOINT VENTURE MODEL FOR ASSESSMENT OF PARTNER CAPABILITIES: THE CASE OF ESKOM ENTERPRISES AND THE AFRICAN POWER SECTOR

Directory of Open Access Journals (Sweden)

Y.V. Soni

2012-01-01

Full Text Available

ENGLISH ABSTRACT: This article investigates the concept of joint ventures in the international energy sector and develops a joint venture model, as a business development and assessment tool. The joint venture model presents a systematic method that relies on modern business intelligence to assess a potential business venture by using a balanced score card technique to screen potential partners, based on their technological and financial core capabilities. The model can be used by business development managers to harness the potential of joint ventures to create economic growth and sustainable business expansion. Furthermore, partnerships with local companies can help to mitigate econo-political risk, and facilitate buy-in from the national governments that are normally the primary stakeholders in the energy sector ventures (directly or indirectly. The particular case of Eskom Enterprises (Pty Ltd, a wholly owned subsidiary of Eskom, is highlighted.

AFRIKAANSE OPSOMMING: Hierdie artikel ondersoek die begrip gesamentlike onderneming in die internasionale energiesektor en ontwikkel 'n gesamentlike-onderneming-model as 'n sake-ontwikkeling- en takseermodel. Die gesamentlike-onderneming-model bied 'n stelselmatige metode wat op moderne sake-intelligensie staat maak om 'n potensiële sake-onderneming op grond van die tegnologiese en finansiële kernvermoëns daarvan te takseer deur 'n gebalanseerdepuntekaart-tegniek te gebruik. Die model kan deur sake-ontwikkelingsbestuurders gebruik word om die potensiaal van gesamentlike ondernemings in te span om ekonomiese groei en volhoubare sake-uitbreiding daar te stel. Verder kan venootskappe met plaaslike maatskappye help om die ekonomiese risiko te verminder en inkoop te vergemaklik van die nasionale regerings wat gewoonlik die primêre belanghebbendes in die energiesektorondernemings is (hetsy regstreeks of onregstreeks. Die besondere geval van Eskom Enterprises (Edms Bpk, 'n vol filiaal van Eskom

Creating Legitimacy across International Contexts: The Role of Storytelling for International New Ventures

DEFF Research Database (Denmark)

Andersen, Poul Houman; Rask, Morten

2014-01-01

This paper considers the legitimacy-creating efforts of Better Place, an international new venture (INV) providing infrastructure services linking electrical vehicles and power grid networks. We analyze the debate on Better Place’s attempts to communicate its business idea to constituents in Denm...... to the growing literature on INVs and on institutions in international business. For practice, our aim is to improve managers’ awareness and understanding of the importance of storytelling in the market contexts they seek to enter....... in Denmark, Israel, Canada, and Australia using expert interviews as well as content analysis of newspaper articles and other secondary sources. Storytelling, which is found to be central to the legitimacy-creating efforts of international business ventures, interacts with existing discourses in the diverse...

The experimental nature of new venture creation capitalizing on open innovation 2.0

CERN Document Server

Formica, Piero

2013-01-01

This book presents readers with the opportunity to fundamentally re-evaluate the processes of innovation and entrepreneurship, and to rethink how they might best be stimulated and fostered within our organizations and communities.  The fundamental thesis of the book is that the entrepreneurial process is not a linear progression from novel idea to successful innovation, but is an iterative series of experiments, where progress depends on the persistence and resilience of the individuals involved, and their ability and to learn from failure as well as success. From this premise, the authors argue that the ideal environment for new venture creation is a form of “experimental laboratory,” a community of innovators where ideas are generated, shared, and refined; experiments are encouraged; and which in itself serves as a test environment for those ideas and experiments.  This environment is quite different from the traditional “incubator,” which may impose the disciplines of the established firm too ear...

The challenge of venture capital financing of nuclear innovations: an American example?

International Nuclear Information System (INIS)

Hurel, T.

2017-01-01

The financing of innovations in nuclear industry has been a public sector concern till recently, now in the last years about 50 start-ups operating in nuclear activities have been created in the US. A broad part of these new enterprises are financed by business angels or venture capitalists and generally they propose new kinds of reactors which is not surprising as public funding has the tendency to go to projects based on technologies already approved by the NRC. Breakthrough Energy Ventures (BEV) was launched in 2016 by Bill Gates with the purpose of financing clean energy projects. TerraPower promotes a new kind of reactor while Mission Innovation aims at doubling investment in clean technologies. Other start-ups like ALPHA (Accelerating Low-cost Plasma Heating and Assembly) or LPP Fusion or General Fusion are working on thermonuclear fusion. (A.C.)

How Did You Survive in the First Five Years? Secrets to Success Described by Apparel New Ventures in China

OpenAIRE

Li Zhao; Jung Ha-Brookshire

2014-01-01

The study explored the secrets of success described by Chinese apparel new ventures. Barney's (1991) resource-based view of the firm helped the researchers understand secrets to success from the firm's internal perspective, and the social network theory informed key secrets from the external perspective (Ahuja, 2000). In-depth interviews with open-ended questions were employed with sixteen top apparel companies in China. Results revealed that having the first successful store is the symbol of...

Effluent management practices at the AAEC Research Establishment

International Nuclear Information System (INIS)

Khoe, G.

1978-02-01

A technical description is given of the facilities and operation of the waste water and liquid waste management system at the Australian Atomic Energy Commission Research Establishment at Lucas Heights. Also described are practices and principles involved in the control and recording of radioactivity in the effluents. (Author)

Still the Same

DEFF Research Database (Denmark)

Chen, Jing; Rider, Christopher I.

We propose that new ventures create jobs but also accentuate workforce segregation because demographically-similar people typically found and then shape the evolution of new organizations. Focusing specifically on the tendency of new venture personnel to have worked for the same prior employer (e...... ventures. Second, new ventures are less demographically diverse than established organizations and this is especially true of new ventures staffed by personnel who worked for few prior employers. Third, new ventures tend to maintain demographic homogeneity through differential retention, as opposed...... to differential hiring. We discuss implications for entrepreneurship research as well as public policies that promote entrepreneurship to create jobs....

Coherence between harvest and habitat management -- Joint venture perspectives

Science.gov (United States)

Baxter, C.K.; Nelson, J.W.; Reinecke, K.J.; Stephens, S.E.

2006-01-01

Introduction: In recent months, an ad hoc group of waterfowl scientists, representing the International Association of Fish and Wildlife Agencies (IAFWA) Adaptive Harvest Management (ARM) Task Force and the North American Waterfowl Management Plan (NAWMP) Committee, have collaborated as a Joint Task Group (JTG) to assess options for unifying the population goals guiding waterfowl harvest management and habitat management. The JTG has been charged with bringing coherence to the population goals of the two programs. Characterizing the problem as one of coherence indicates value judgments exist regarding its significance or perhaps existence. For purposes of this paper, we characterize the lack of coherence as the absence of consistent population goals in the two related components of waterfowl conservation habitat and harvest management. Our purpose is to support continued dialogue on the respective goals of these programs and the possible implications of discordant goals to habitat joint ventures. Our objectives are two-fold: (1) illustrate how NAWMP habitat management goals and strategies have been interpreted and pursued in both breeding and wintering areas, and (2) provide perspectives on the linkages between regional habitat management programs and harvest management. The Lower Mississippi Valley and the Prairie Pothole joint ventures (LMVJV and PPJV, respectively) will be used as examples.

Establishment and preliminary outcomes of a palliative care research network.

Science.gov (United States)

Hudson, Peter; Street, Annette; Graham, Suzanne; Aranda, Sanchia; O'Connor, Margaret; Thomas, Kristina; Jackson, Kate; Spruyt, Odette; Ugalde, Anna; Philip, Jennifer

2016-02-01

The difficulties in conducting palliative care research have been widely acknowledged. In order to generate the evidence needed to underpin palliative care provision, collaborative research is considered essential. Prior to formalizing the development of a research network for the state of Victoria, Australia, a preliminary study was undertaken to ascertain interest and recommendations for the design of such a collaboration. Three data-collection strategies were used: a cross-sectional questionnaire, interviews, and workshops. The questionnaire was completed by multidisciplinary palliative care specialists from across the state (n = 61); interviews were conducted with senior clinicians and academics (n = 21) followed by two stakeholder workshops (n = 29). The questionnaire was constructed specifically for this study, measuring involvement of and perceptions of palliative care research. Both the interview and the questionnaire data demonstrated strong support for a palliative care research network and aided in establishing a research agenda. The stakeholder workshops assisted with strategies for the formation of the Palliative Care Research Network Victoria (PCRNV) and guided the development of the mission and strategic plan. The research and efforts to date to establish the PCRNV are encouraging and provide optimism for the evolution of palliative care research in Australia. The international implications are highlighted.

THE CAPITAL STRUCTURE OF VENTURE CAPITAL FIRMS IN INDONESIA

Directory of Open Access Journals (Sweden)

Andi Buchari

2016-10-01

Full Text Available Venture capital (VC is an important fund source for small and medium enterprises (SMEs and start up, particularly to deliver its main product of equity participation. Therefore, capital structure and factors that affect it are very crucial. This study aims to analyze the capital structure of VC firms in Indonesia using econometric model of panel data regression. This study utilizes secondary data of six years period (2009-2014 monthly financial statements of 27 samples out of 58 VC firms to form 1,944 observations. The study reveals that capital structure of VC firms in Indonesia is dominated by debt/loan rather than capital with DER on average is 136.95%. In addition, the research confirms that VC firms’ capital structure is affected simultaneously by financial aspects which are asset size, profitability, liquidity, asset/investment quality, and earning asset structure. The attentions to financial aspects that affect the VC firms’ capital structure as well as other initiatives related to capital increases are necessary so that the VC firms could carry out its role effectively.

A Comparative Analysis of Polish and Czech International New Ventures

Directory of Open Access Journals (Sweden)

Lidia Danik

2016-06-01

Full Text Available The goal of this paper is to compare the characteristics of Polish and Czech companies which follow the Born Global internationalization model. More concretely, the analysis aims to discover the differences or similarities in terms of the internationalization paths of Polish and Czech SMEs in the characteristics of their managers in terms of the so-called “international vision” and in their innovativeness level. The introductory part of article provides a description of this internationalization model and the International New Ventures traits (INV and summarizes the recent studies on this topic conducted in Poland and Czech Republic. In the empirical part, the International New Ventures from the two countries are compared. The Polish sample includes 105 companies which were surveyed with use of computer assisted telephone interviews in autumn 2014. For the Czech Republic, the sample consists of 54 small and medium-sized companies, which were surveyed using the computer assisted web interviews from November 2013 till January 2014. The surveyed companies in both countries fulfilled the definition of Born Globals. Descriptive statistics, cross-tabulation analysis and non-parametric tests are applied to accomplish the goals of the paper.

Primary status, complementary status, and organizational survival in the U.S. venture capital industry.

Science.gov (United States)

Bothner, Matthew S; Kim, Young-Kyu; Lee, Wonjae

2015-07-01

We introduce a distinction between two kinds of status and examine their effects on the exit rates of organizations investing in the U.S. venture capital industry. Extending past work on status-based competition, we start with a simple baseline: we describe primary status as a network-related signal of an organization's quality in a leadership role, that is, as a function of the degree to which an organization leads others that are themselves well regarded as lead organizations in the context of investment syndicates. Combining Harary's (1959) image of the elite consultant with Goffman's (1956) concept of "capacity-esteem," we then discuss complementary status as an affiliation-based signal of an organization's quality in a supporting role. We measure complementary status as a function of the extent to which an organization is invited into syndicates by well-regarded lead organizations-that is, by those possessing high levels of primary status. Findings show that, conditioning on primary status, complementary status reduces the rate at which venture capital organizations exit the industry. Consistent with the premise that these kinds of status correspond to different roles and market identities, we also find that complementary status attenuates (and ultimately reverses) the otherwise favorable effect of primary status on an organization's life chances. Theoretically and methodologically oriented scope conditions, as well as implications for future research, are discussed. Copyright © 2015 Elsevier Inc. All rights reserved.

Health and safety at the Whiteshell Nuclear Research Establishment

International Nuclear Information System (INIS)

LeNeveu, D.M.

1982-04-01

This report outlines the health and safety program at the Whiteshell Nuclear Research Establishment. It describes the procedures in place to ensure that a high standard of conventional industrial and radiation safety is maintained in the workplace

New ventures require accurate risk analyses and adjustments.

Science.gov (United States)

Eastaugh, S R

2000-01-01

For new business ventures to succeed, healthcare executives need to conduct robust risk analyses and develop new approaches to balance risk and return. Risk analysis involves examination of objective risks and harder-to-quantify subjective risks. Mathematical principles applied to investment portfolios also can be applied to a portfolio of departments or strategic business units within an organization. The ideal business investment would have a high expected return and a low standard deviation. Nonetheless, both conservative and speculative strategies should be considered in determining an organization's optimal service line and helping the organization manage risk.

Korea-China optical technology research centre project

Energy Technology Data Exchange (ETDEWEB)

Kim, Cheol Jung; Lee, J M; Rhee, Y J. and others

2001-09-01

The main objectives of this project are to establish the internatinal collaboration basis of optical technolgies between Korean and China through the combination of the Chinese advanced fundamental technologies with the Korea industrialization and commercialization infrastructures, by ways of exchanging scientist and informations, holding joint seminars, cooperative utilization of research resources. On the ground of this establishment, the optical technologies of Korea are supposed to be leveled up to that of the world-most advanced. At the same time, for the improvement of mutual benefit and financial profit of both of the countries, technical support for the investment on the optical industries in the two countries and establishment of foundation for the venture capitals are also the purpose of this project. Because the state-of-the-arts of the Chinese technologies such as aerospace engineering, military defense technology, applications to medical treatments, laser fusion research, and so on, are known to be far above those of Korean and upto one of the most advanced in the world, it is necessary that the acquisition of these technologies, resulting in the enhancement of the levels of domestic technologies in these fields, implementation of joint research projects for technology development as well as the balanced opportunities for commercial product/sales and cooperation should be actively pursued.

Korea-China optical technology research centre project

International Nuclear Information System (INIS)

Kim, Cheol Jung; Lee, J. M.; Rhee, Y. J. and others

2001-09-01

The main objectives of this project are to establish the internatinal collaboration basis of optical technolgies between Korean and China through the combination of the Chinese advanced fundamental technologies with the Korea industrialization and commercialization infrastructures, by ways of exchanging scientist and informations, holding joint seminars, cooperative utilization of research resources. On the ground of this establishment, the optical technologies of Korea are supposed to be leveled up to that of the world-most advanced. At the same time, for the improvement of mutual benefit and financial profit of both of the countries, technical support for the investment on the optical industries in the two countries and establishment of foundation for the venture capitals are also the purpose of this project. Because the state-of-the-arts of the Chinese technologies such as aerospace engineering, military defense technology, applications to medical treatments, laser fusion research, and so on, are known to be far above those of Korean and upto one of the most advanced in the world, it is necessary that the acquisition of these technologies, resulting in the enhancement of the levels of domestic technologies in these fields, implementation of joint research projects for technology development as well as the balanced opportunities for commercial product/sales and cooperation should be actively pursued

Can High-Tech Ventures Benefit from Government Guanxi and Business Guanxi? The Moderating Effects of Environmental Turbulence

Directory of Open Access Journals (Sweden)

Dejin Su

2017-01-01

Full Text Available The construct of guanxi has become an interesting topic for analyzing how to do business more effectively and successfully in China’s economic transition period. Drawing on the guanxi strategy theory, this study examines when government guanxi (guanxi with the government and its officials and business guanxi (guanxi with the business sectors matter to new venture performance under two typical turbulent environments (institutional turbulence and market turbulence. According to empirical results using original data from 146 new ventures in clusters driven by China’s local governments, both government guanxi and business guanxi were positively related to new venture performance, and market turbulence was an important contextual factor influencing performance benefits of guanxi. However, the results reveal no moderating effects of institutional turbulence on direct relationships. Furthermore, the study provides a better conceptual and empirical understanding of why market turbulence is a double-edged sword for performance implications of guanxi in the rapidly changing business environment.

Affiliation, joint venture or PSO? Case studies show why provider strategies differ.

Science.gov (United States)

1998-03-01

Joint venture, affiliation or PSO? Here are three case studies of providers who chose different paths under Medicare risk, plus some key questions you'll want to ask of your own provider organization. Learn from these examples so you'll make the best contracting decisions.

Supplier's involvement and success of radical new product development in new ventures

NARCIS (Netherlands)

Song, Michael; Di Benedetto, Anthony

2008-01-01

Supplier involvement is essential to a new venture seeking to develop a radical innovation. Despite this, prior literature has not adequately addressed supplier involvement in radical innovation, nor what the antecedents to increased supplier involvement are. We build and test a conceptual model of

Planning report for establishment of research infrastructure for national advanced radiation technology

International Nuclear Information System (INIS)

Kuk, Il Hyun; Byun, Myung Woo; Lee, Ju Woon

2005-04-01

Establishment of research infrastructure and assistant of industry renovation is needed to achieve technology level-up in the all industry areas including plant engineering, material engineering, polymers, nondestructive tests, radioisotope tracer application, environment engineering, medical science, agriculture, sterilization, sprouting, biotechnology and aerospace, which would be the core motivation of our future industry. Especially for early settlement of research environment for the new RT-specialized national institute, Advanced Radiation Technology Institute (ARTI) in Jeongup, Chonbuk, Korea is essential. For this purpose, an intensive system construction is demanded including: 1) Area of establishment of the system assisting radiation technology advancement: It is expected that radioisotope production for industrial or medical uses and activation of the related researches and training of experts by manufacture, installation, and operation of 30 MeV cyclotron. It also can be contributed in the promotion of national radiation related science and technology by establishment of a basic and advanced analysis system. 2) Area of establishment of training and education system of RT experts. 3) Area of establishment of a system for technological assistance for industry and industry-university-institute network. Contribution to balanced regional development and promotion of national RT-based science through establishment of RT industry cluster with Advanced Radiation Technology Institute (ARTi) at Jeongup as the center figure

Business Models and Producer-Owned Ventures: Choices, Challenges, and Changes

OpenAIRE

Kenkel, Philip L.; Park, John L.

2007-01-01

Producer-owned business models are rapidly evolving. Producer-owned, value-added ventures face a number of organizational challenges, including capital acquisition, security exchange registration, antitrust exemption, borrowing eligibility, and operational flexibility. This paper examines the success of evolving producer-owned business models in addressing these challenges. The need for uniform criteria to distinguish producer-owned business from other business forms throughout the complex st...

Characteristics of Venture Capital Network and Its Correlation with Regional Economy: Evidence from China.

Science.gov (United States)

Jin, Yonghong; Zhang, Qi; Shan, Lifei; Li, Sai-Ping

2015-01-01

Financial networks have been extensively studied as examples of real world complex networks. In this paper, we establish and study the network of venture capital (VC) firms in China. We compute and analyze the statistical properties of the network, including parameters such as degrees, mean lengths of the shortest paths, clustering coefficient and robustness. We further study the topology of the network and find that it has small-world behavior. A multiple linear regression model is introduced to study the relation between network parameters and major regional economic indices in China. From the result of regression, we find that, economic aggregate (including the total GDP, investment, consumption and net export), upgrade of industrial structure, employment and remuneration of a region are all positively correlated with the degree and the clustering coefficient of the VC sub-network of the region, which suggests that the development of the VC industry has substantial effects on regional economy in China.

Early struggles and the creation of a self-sustaining entity

African Journals Online (AJOL)

Twenty environmental entrepreneurs answered the research question: What is their retrospective assessment of the early struggles and lived experiences leading to firm establishment as they engaged in the new venture creation process? This study determined that the experience of starting a new venture is distinct from ...

Assessing the Effectiveness of Guided Preparation for New Venture Creation: Theory and Practice

DEFF Research Database (Denmark)

Pons Rotger, Gabriel; Gørtz, Mette; Storey, David

2012-01-01

Governments in virtually all developed countries subsidise “guided preparation” for entrepreneurial activity. Despite being so widespread, the evidence that this assistance enhances venture performance remains in dispute, primarily because of a lack of consensus over statistical approaches...

Application for Underground Injection Control Permit for the PUNA Geothermal Venture Project

Energy Technology Data Exchange (ETDEWEB)

None

1989-06-01

Puna Geothermal Venture (PGV) plans to construct and operate the 25 MW Puna Geothermal Venture Project in the Puna District of the Island of Hawaii. The project will drill geothermal wells within a dedicated 500-acre project area, use the produced geothermal fluid to generate electricity for sale to the Hawaii Electric Light Company for use on the Island of Hawaii, and inject all the produced geothermal fluids back into the geothermal reservoir. Since the project will use injection wells, it will require an Underground Injection Control (UIC) permit from the Drinking Water Section of the State of Hawaii Department of Health. The PGV Project is consistent with the State and County of Hawaii's stated objectives of providing energy self-sufficiency and diversifying Hawaii's economic base. The project will develop a new alternate energy source as well as provide additional information about the nature of the geothermal resource.

Annual report of Naka Fusion Research Establishment from April 1, 2003 to March 31, 2004

International Nuclear Information System (INIS)

Hoshino, Katsumichi; Umeda, Naotaka; Tsuji, Hiroshi; Yoshida, Hidetoshi; Nagami, Masayuki

2004-11-01

This annual report provides an overview of research and development (R and D) activities at Naka Fusion Research Establishment, including those performed in collaboration with other research establishments of JAERI, research institutes, and universities, during the period from 1 April, 2003 to 31 March, 2004. The activities in the Naka Fusion Research Establishment are highlighted by researches in JT-60 and JFT-2M, theoretical and analytical plasma researches, research and development of fusion reactor technologies towards ITER and fusion power demonstration plants, and activities in support of ITER design and construction. (J.P.N.)

Proposal to Establish an International Solar Research Institute

International Nuclear Information System (INIS)

Broda, E.

1974-01-01

This report was written by E. Broda and it is about a proposal to establish an international solar research institute. Broda emphasizes solar energy as the most important energy source alternatively to nuclear energy and he points out the advantages of solar energy over nuclear energy. This report was written for a symposium for science and peace in February 1974. (nowak)

Malaysian group looks to invest in China petchems venture

International Nuclear Information System (INIS)

Alperowicz, N.

1992-01-01

The Kuok Group, owned by Malaysian tycoon Robert Kuok, has emerged as the latest potential investor in a petrochemicals joint venture in China. The group, which has assets including the Shangri-La chain of hotels and several urea formaldehyde plants in Malaysia and Singapore, has signed a memorandum of understanding with the local authorities of Beihai, Guangxi province to study a $3-billion refinery and petrochemicals complex. Beihai, in coastal southwestern China, is near the Vietnam border. The project, understood to be in the preliminary scoping phase, would include a 100,000-bbl/day refinery and a world-scale 450,000-m.t./year cracker that would feed a 450,000-m.t./year polyethylene unit. To make the operation competitive, the group is considering building an ethylene cracker and looking for a cheap source of natural gas. It is understood that an undisclosed Western company has joined forces in the joint venture, which is not one of the 14 petrochemicals complexes currently planned in China. Kuok, who has good contacts in China and has just agreed to develop a commercial complex in Shanghai's Zhabei district, has been approached by the Beihai authorities. Beihai, an economic development zone, would like its own refinery. The closest one is in Maoming. A decision is expected by the end of then year

Malaysian group looks to invest in China petchems venture

Energy Technology Data Exchange (ETDEWEB)

Alperowicz, N.

1992-11-25

The Kuok Group, owned by Malaysian tycoon Robert Kuok, has emerged as the latest potential investor in a petrochemicals joint venture in China. The group, which has assets including the Shangri-La chain of hotels and several urea formaldehyde plants in Malaysia and Singapore, has signed a memorandum of understanding with the local authorities of Beihai, Guangxi province to study a $3-billion refinery and petrochemicals complex. Beihai, in coastal southwestern China, is near the Vietnam border. The project, understood to be in the preliminary scoping phase, would include a 100,000-bbl/day refinery and a world-scale 450,000-m.t./year cracker that would feed a 450,000-m.t./year polyethylene unit. To make the operation competitive, the group is considering building an ethylene cracker and looking for a cheap source of natural gas. It is understood that an undisclosed Western company has joined forces in the joint venture, which is not one of the 14 petrochemicals complexes currently planned in China. Kuok, who has good contacts in China and has just agreed to develop a commercial complex in Shanghai's Zhabei district, has been approached by the Beihai authorities. Beihai, an economic development zone, would like its own refinery. The closest one is in Maoming. A decision is expected by the end of then year.

The decline of venture capital investment in early-stage life sciences poses a challenge to continued innovation.

Science.gov (United States)

Fleming, Jonathan J

2015-02-01

A key element required for translating new knowledge into effective therapies is early-stage venture capital that finances the work needed to identify a lead molecule or medical device prototype and to develop it to the proof-of-concept stage. This early investment is distinguished by great uncertainty over whether the molecule or prototype is safe and effective, the stability of the regulatory standards to which clinical trials are designed, and the likelihood that large follow-on investments for commercial development can be secured. Regulatory and reimbursement policies have a profound impact on the amount of capital and the types of life science projects that investors pursue. In this article I analyze several recent trends in early-stage venture capital funding, describe how these trends are influenced by regulatory and reimbursement policies, and discuss the role of policy makers in bringing new treatments to market. Policy makers can foster renewed private investment into critically needed early-stage products by increasing Small Business Innovation Research (SBIR) funding and public support for clinical trials in targeted areas of interest; creating regulatory pathways to enable early testing of experimental compounds in limited populations; and offering economic incentives for investors and developers in designated therapeutic areas. Project HOPE—The People-to-People Health Foundation, Inc.

Establishing and maintaining international collaborative research teams: an autobiographical insight

Directory of Open Access Journals (Sweden)

T J Carr

2013-07-01

Full Text Available Despite the growing impetus for international collaborative research teams (ICRT, there are relatively few resources available to guide and support researchers through the processes of establishing and maintaining ICRTs. In particular, no articles were found that provided researchers’ firsthand accounts of being a member of such a team. Having access to such personal accounts can help both experienced and novice researchers learn more directly about what to expect, as well as the benefits, challenges, pitfalls, and success strategies for establishing and maintaining ICRTs. The authors used phenomenological autobiographical reflective journaling to capture their experiences as members of ICRTs. In this article we provide an overview of key themes that emerged from the analysis of our reflections as members of ICRTs. These themes include: benefits, challenges, and strategies for success. Our aim is to share our first-hand experiences of what it is like to establish and participate in ICRT. It is not our intention to provide readers with prescriptive guidelines on how to set up and maintain ICRTs. Every ICRT is unique and some of these ideas may or may not apply in every case. Instead, we are describing what worked for us, hoping that others may benefit from our experience. Consequently, we suggest that the focus of ICRT should be on the benefits thereof which promote and encourage interaction between disciplines, transfer of knowledge and techniques and personal and professional development. Keywords: international, collaborative, research, teams, interdisciplinary

Joint Venture Health Plans May Give ACOs a Run for Their Money.

Science.gov (United States)

Reinke, Thomas

2016-12-01

Joint venture plans are starting to demonstrate their ability to implement clinical management and financial management reforms. A JV health plan replaces the offloading of financial risk by health plans to ill-equipped providers with an executive-level cost management committee stated jointly by the hospital and payer.

Arch Venture Partners' investment considerations for CBRNE products and opportunities

Science.gov (United States)

Crandell, K.; Lazarus, S.; Gardner, P. J.

2008-04-01

ARCH is interested in building leading, highly-valued companies from leading research. Toward that end we value innovations created by the leading researchers in the world, many of which are funded to solve critical scientific challenges including those in the instrumentation and CBRNE area. The most important CBRNE innovations we have seen at ARCH are breakthroughs involving significant unaddressed technology risk and have the potential for broad proprietary intellectual property as a result. The model ARCH has evolved in instrumentation is to look for a breakthrough innovation, with strong intellectual property and continue to strengthen the patent estate through the life of the company. ARCH looks to build companies around leading interdisciplinary scientific and engineering teams, and we favor platform technology that can be applied to multiple market applications both commercial and government. As part of a strategy to build a great company, addressing important CBRNE challenges can help a company strengthen its technical team and its IP estate. This supports a focus on early low volume markets on the way toward addressing a fuller portfolio of applications. Experienced Venture Capitalists can help this process by identifying important executive talent, partners and applications, offering financial syndication strength, and helping shape the company's strategy to maximize the ultimate value realized.

Clinic, hospital try to fulfill vision of coordinated care with joint venture company.

Science.gov (United States)

2000-09-01

Coordinated Care Services Inc., a joint venture of Carle Foundation and Carle Clinic Association in Urbana, IL, shares its initial successes and ongoing challenges after one year of operation. The biggest barrier to further improvements remains insufficient information management capability.

Establishing a Student Research and Publishing Program in High School Physics

Science.gov (United States)

Eales, Jonathan; Laksana, Sangob

2016-01-01

Student learning in science is improved by authentic personal experience of research projects and the publication of findings. Graduate students do this, but it is uncommon to find student research and publishing in high school science programs. We describe here the Student Research and Publishing Program (SRPP) established at International School…

Annual report of Naka Fusion Research Establishment from April 1, 2001 to March 31, 2002

Energy Technology Data Exchange (ETDEWEB)

Ando, Toshiro; Matsumoto, Hiroshi; Moriyama, Shinichi; Tanaka, Fumiya; Tuda, Takashi; Tsuji, Hiroshi (eds.) [Japan Atomic Energy Research Inst., Naka, Ibaraki (Japan). Naka Fusion Research Establishment

2002-11-01

This report provides an overview of research and development activities at Naka Fusion Research Establishment, JAERI, including those performed in collaboration with other research establishments of JAERI, during the period from April 1, 2001 to March 31, 2002. The activities in the Naka Fusion Research Establishment are highlighted by high performance plasma researches in JT-60 and JFT-2M, and completion of ITER Engineering Design Activities (EDA) in July 2001, including technology R and D. (J.P.N.)

All the Vice Chancellor's Neuroscientists: Unity to Achieve Success in Solving Malaysia's Diseases via Upgrading Clinical Services and Neuroscience Research.

Science.gov (United States)

Abdullah, Jafri Malin

2013-05-01

President Obama of the United States of America announced this April the Brain Research Through Advancing Innovative Neurotechnologies (BRAIN for short) investment, while Professor Henry Markram's team based in the European Union will spend over a billion euros on the Human Brain Project, breaking through the unknowns in the fifth science of the decade: Neuroscience. Malaysia's growth in the same field needs to be augmented, and thus the Universiti Sains Malaysia's vision is to excel in the field of clinical brain sciences, mind sciences and neurosciences. This will naturally bring up the level of research in the country simultaneously. Thus, a center was recently established to coordinate this venture. The four-year Integrated Neuroscience Program established recently will be a sustainable source of neuroscientists for the country. We hope to establish ourselves by 2020 as a global university with neurosciences research as an important flagship.

Provider-sponsored HMOs: make, buy, or joint venture?

Science.gov (United States)

Clay, S B

1997-03-01

Providers can sponsor their own HMOs in one of three ways: by creating their own HMO, by joint venturing with an existing HMO, or by purchasing an existing HMO. When selecting the best option, providers must consider various market conditions. Managed care penetration in the area, potential competitive responses of existing HMOs, market demand, provider reputation, and provider marketing ability will all influence the feasibility of each option. Providers also must examine their own organizational identity, their ability to raise the necessary capital to start an HMO, their managed care expertise and risk contracting experience, and their information systems capabilities.

A business man views commercial ventures in space.

Science.gov (United States)

Scarff, D. D.; Bloom, H. L.

1973-01-01

Paper reviews technical, resource planning and marketing steps an industrial organization must perform in arriving at a decision to undertake space development and production of commercial products or services for Users on the ground. Technical elements are supported by particular examples. Analysis of required resources emphasizes facility and financial inter-relationships between commercial organizations and NASA. Marketing planning covers elements of profitability. Paper addresses questions related to protection of corporate stockholders and public interest, investment decision timing, budget variations. Paper concludes with observations on timeliness of planning shuttle-based commercial ventures and on key industry/NASA problems and decisions.

Venture capital on a shoestring: Bioventures' pioneering life sciences fund in South Africa.

Science.gov (United States)

Masum, Hassan; Singer, Peter A

2010-12-13

Since 2000, R&D financing for global health has increased significantly, with innovative proposals for further increases. However, although venture capital (VC) funding has fostered life sciences businesses across the developed world, its application in the developing world and particularly in Africa is relatively new. Is VC feasible in the African context, to foster the development and application of local health innovation?As the most industrially advanced African nation, South Africa serves as a test case for life sciences venture funding. This paper analyzes Bioventures, the first VC company focused on life sciences investment in sub-Saharan Africa. The case study method was used to analyze the formation, operation, and investment support of Bioventures, and to suggest lessons for future health venture funds in Africa that aim to develop health-oriented innovations. The modest financial success of Bioventures in challenging circumstances has demonstrated a proof of concept that life sciences VC can work in the region. Beyond providing funds, support given to investees included board participation, contacts, and strategic services. Bioventures had to be proactive in finding and supporting good health R&D.Due to the fund's small size, overhead and management expenses were tightly constrained. Bioventures was at times unable to make follow-on investments, being forced instead to give up equity to raise additional capital, and to sell health investments earlier than might have been optimal. With the benefit of hindsight, the CFO of Bioventures felt that partnering with a larger fund might benefit similar future funds. Being better linked to market intelligence and other entrepreneurial investors was also seen as an unmet need. BioVentures has learned lessons about how the traditional VC model might evolve to tackle health challenges facing Africa, including how to raise funds and educate investors; how to select, value, and support investments; and how to

Venture capital on a shoestring: Bioventures’ pioneering life sciences fund in South Africa

Directory of Open Access Journals (Sweden)

Singer Peter A

2010-12-01

Full Text Available Abstract Background Since 2000, R&D financing for global health has increased significantly, with innovative proposals for further increases. However, although venture capital (VC funding has fostered life sciences businesses across the developed world, its application in the developing world and particularly in Africa is relatively new. Is VC feasible in the African context, to foster the development and application of local health innovation? As the most industrially advanced African nation, South Africa serves as a test case for life sciences venture funding. This paper analyzes Bioventures, the first VC company focused on life sciences investment in sub-Saharan Africa. The case study method was used to analyze the formation, operation, and investment support of Bioventures, and to suggest lessons for future health venture funds in Africa that aim to develop health-oriented innovations. Discussion The modest financial success of Bioventures in challenging circumstances has demonstrated a proof of concept that life sciences VC can work in the region. Beyond providing funds, support given to investees included board participation, contacts, and strategic services. Bioventures had to be proactive in finding and supporting good health R&D. Due to the fund’s small size, overhead and management expenses were tightly constrained. Bioventures was at times unable to make follow-on investments, being forced instead to give up equity to raise additional capital, and to sell health investments earlier than might have been optimal. With the benefit of hindsight, the CFO of Bioventures felt that partnering with a larger fund might benefit similar future funds. Being better linked to market intelligence and other entrepreneurial investors was also seen as an unmet need. Summary BioVentures has learned lessons about how the traditional VC model might evolve to tackle health challenges facing Africa, including how to raise funds and educate investors; how

Venture capital on a shoestring: Bioventures’ pioneering life sciences fund in South Africa

Science.gov (United States)

2010-01-01

Background Since 2000, R&D financing for global health has increased significantly, with innovative proposals for further increases. However, although venture capital (VC) funding has fostered life sciences businesses across the developed world, its application in the developing world and particularly in Africa is relatively new. Is VC feasible in the African context, to foster the development and application of local health innovation? As the most industrially advanced African nation, South Africa serves as a test case for life sciences venture funding. This paper analyzes Bioventures, the first VC company focused on life sciences investment in sub-Saharan Africa. The case study method was used to analyze the formation, operation, and investment support of Bioventures, and to suggest lessons for future health venture funds in Africa that aim to develop health-oriented innovations. Discussion The modest financial success of Bioventures in challenging circumstances has demonstrated a proof of concept that life sciences VC can work in the region. Beyond providing funds, support given to investees included board participation, contacts, and strategic services. Bioventures had to be proactive in finding and supporting good health R&D. Due to the fund’s small size, overhead and management expenses were tightly constrained. Bioventures was at times unable to make follow-on investments, being forced instead to give up equity to raise additional capital, and to sell health investments earlier than might have been optimal. With the benefit of hindsight, the CFO of Bioventures felt that partnering with a larger fund might benefit similar future funds. Being better linked to market intelligence and other entrepreneurial investors was also seen as an unmet need. Summary BioVentures has learned lessons about how the traditional VC model might evolve to tackle health challenges facing Africa, including how to raise funds and educate investors; how to select, value, and support

Working abroad, working with others: How firms learn to operate international joint ventures

NARCIS (Netherlands)

H.G. Barkema (Harry); O. Shenkar (Oded); G.A.M. Vermeulen (Freek); J.H.J. Bell (John)

1997-01-01

textabstractSuccessful international joint ventures entail both learning to operate across national boundaries and learning to cooperate. Hypotheses grounded in organizational learning theory were tested with event-history analysis and data on 1,493 expansions of 25 large Dutch firms between 1966

RESEARCH UNIVERSITIES IN MALAYSIA: WHAT BEHOLDS?

Directory of Open Access Journals (Sweden)

Nooraini Mohamad Sheriff

2017-12-01

Full Text Available The National Higher Education Strategic Plan Beyond 2020 aims at further strengthening Malaysian research universities and envisions that two Malaysian universities will be among the Top 100 world universities. To date there are 5 research universities in Malaysia, namely University of Malaya (UM, Universiti Kebangsaan Malaysia (UKM, Universiti Sains Malaysia (USM, Universiti Putra Malaysia (UPM and Universiti Teknologi Malaysia (UTM being the latest addition. These research universities are required to focus primarily on research and innovation activities, driven by highly competent academics and competitive student admissions. Research universities too are expected to explore their intellectual capacity and become models of Malaysian universities in conducting research activities aimed at knowledge advancement. Apart from this research universities are entrusted to generate their own income and establish holding companies responsible for conducting business ventures through the commercialization of their research products. Quality and quantity of researchers, research and postgraduates are also expected to increase in these research driven institutions. This calls for a visionary university leadership and the application of a new image and organizational principles. Education, training and employment policies too have to be reviewed, to ensure staff have the skills necessary for the development of research activities.

ASPECTS CONCERNING THE JOINT VENTURE UNDER THE REGULATION OF THE NEW CIVIL CODE

Directory of Open Access Journals (Sweden)

Ana-Maria Lupulescu

2013-11-01

Full Text Available The New Civil Code makes the transition, for the first time in the Romanian legal system, from the duality to the unity of private law. Consequently, the Civil Code contains a legal regulation more structured and comprehensive, although not entirely safe from any criticism, in relation to the company, with particular reference to the simple company, regulation that expressly characterizes itself as the common law in this field. Within these general provisions, the legislator has considered the joint venture, to which, however, as in the previous regulation contained in the old Commercial Code – now repealed –, it does not devote too many legal provisions, in order to maintain the flexibility of this form of company. Therefore, this approach appears particularly useful for analysts in law and, especially, for practitioners, since it aims to achieve a comprehensive analysis of the joint venture, form of company with practical incidence.

The role of government in supporting the emergence of clean energy venture capital investing in Switzerland

International Nuclear Information System (INIS)

Buerer, M.J.; Wuestenhagen, R.

2005-01-01

This report for the Swiss Federal Office of Energy (SFOE) takes a look at the role of the Swiss government in supporting the provision of venture capital for clean energy projects. Topics examined include the lack of sufficient venture capital investment in clean energy technology, the situation encountered in Switzerland today as far as energy entrepreneurship is concerned, key challenges and cultural, legal and fiscal aspects. Present government support in these areas, the relevance of current Swiss programmes and improvements that are to be made are also discussed. Also, activities in other countries are examined and suggestions are made concerning new activities to improve the situation in Switzerland

The role of government in supporting the emergence of clean energy venture capital investing in Switzerland

Energy Technology Data Exchange (ETDEWEB)

Buerer, M J; Wuestenhagen, R

2005-07-01

This report for the Swiss Federal Office of Energy (SFOE) takes a look at the role of the Swiss government in supporting the provision of venture capital for clean energy projects. Topics examined include the lack of sufficient venture capital investment in clean energy technology, the situation encountered in Switzerland today as far as energy entrepreneurship is concerned, key challenges and cultural, legal and fiscal aspects. Present government support in these areas, the relevance of current Swiss programmes and improvements that are to be made are also discussed. Also, activities in other countries are examined and suggestions are made concerning new activities to improve the situation in Switzerland.

Getting Financed : 9 Tips for Community Joint Ventures in Tourism

OpenAIRE

World Bank Group; World Wildlife Fund

2014-01-01

Like many organizations working in the tourism sector, the authors believe that private sector investment is one of the key drivers of development. Over the past few years, the private sector has been a central innovator in forging business partnerships with local communities for tourism purposes around the world. Having demonstrated some extraordinary development results, joint ventures increasingly need to demonstrate their commercial viability over the long term. Moving out of the donor an...

Knowledge Is "a Form of Venture Capital" for a Top Columbia Administrator.

Science.gov (United States)

Blumenstyk, Goldie

2001-01-01

Explains how for Michael M. Crow, executive vice provost at Columbia University, knowledge is a form of venture capital. This means pushing Columbia beyond the usual role of creating knowledge and disseminating it in traditional manners, and instead taking the knowledge, incubating it, and projecting it using tools like the Internet. (SM)

Internal corporate venturing during organisational change

DEFF Research Database (Denmark)

Kjærgaard, Annemette L.

2004-01-01

that a continuous stream of new ideas and initiatives create new opportunities and ensure that the company stays viable by adapting to new internal and external challenges. This has been pursued in studies of strategy formation (Mintzberg, 1978), strategic change (Pettigrew, 1988) and internal corporate venturing......Organisations have to deal with increasingly complex and turbulent environments, which demand that they continuously change and adapt to new circumstances or challenges. One way for organisations to cope with these challenges is to manage the strategy-making process in order to ensure...... (Burgelman, 1983b, 2002) and is still a central issue in the strategic management discourse. It is generally acknowledged that continuous change is important for organisations' survival in a changing world. On the other hand the need for stability and continuity in form of a clear and strong corporate...

VENTURE: a code block for solving multigroup neutronics problems applying the finite-difference diffusion-theory approximation to neutron transport, version II

International Nuclear Information System (INIS)

Vondy, D.R.; Fowler, T.B.; Cunningham, G.W.

1977-11-01

The report documents the computer code block VENTURE designed to solve multigroup neutronics problems with application of the finite-difference diffusion-theory approximation to neutron transport (or alternatively simple P 1 ) in up to three-dimensional geometry. It uses and generates interface data files adopted in the cooperative effort sponsored by the Reactor Physics Branch of the Division of Reactor Research and Development of the Energy Research and Development Administration. Several different data handling procedures have been incorporated to provide considerable flexibility; it is possible to solve a wide variety of problems on a variety of computer configurations relatively efficiently

A Longitudinal Examination of The Impact of Founding Owner Operator Characteristics on Nascent Venture Performance: Evidence from the Kauffman Firm Survey

Directory of Open Access Journals (Sweden)

Augustine Y. Dzathor

2013-07-01

Full Text Available This study attempts to revive and clarify the debate on ‘the entrepreneurial man’. We longitudinally examined the effects of seven founding-owner-operator characteristics (prior industry experience, level of formal education, age, gender, ethnicity and time committed to business operations on nascent venture performance. Our results indicate that owner work experience, level of education and hours worked in the business have significant effect on nascent venture performance, while inadequate owner reputation and luck of ethnic social capital may negatively affect nascent venture performance. Our findings also suggest that characteristic of the ‘entrepreneurial man’ are dynamic and leans towards a temporal contingency model. Different entrepreneur characteristics seem to assume prominence in firm performance at different times in a nascent venture’s life trajectory.

Reveal or Conceal? An Explorative Study of Signaling Strategies to Build Legitimacy in Cleantech Ventures

DEFF Research Database (Denmark)

Bjørnåli, Ekaterina; Giones, Ferran; Billström, Anders

perceived weaknesses. For cleantech entrepreneurs, having a focus on direct signaling on how the technology performs and its market potential seems to be a more fruitful strategy than signaling the environmental impact of technology in the early stage. While having an experienced board helps to issue...... environmentally friendly handling of waste. They represent an extreme case of technology entrepreneurship: combining a strong focus on capital-intensive technologies with complex industrial markets. Cleantech ventures face greater firm and industry-level legitimacy challenges while accessing external resources...... guide in the spring 2016, and collected secondary data on the firms. Results and Implications Our findings describe the motivations and distinctive characteristics of the signaling actions. Cleantech ventures pursue several parallel signaling strategies, shifting from resources to customers’ acquisition...

The increased risk of joint venture promotes social cooperation.

Directory of Open Access Journals (Sweden)

Te Wu

Full Text Available The joint venture of many members is common both in animal world and human society. In these public enterprizes, highly cooperative groups are more likely to while low cooperative groups are still possible but not probable to succeed. Existent literature mostly focuses on the traditional public goods game, in which cooperators create public wealth unconditionally and benefit all group members unbiasedly. We here institute a model addressing this public goods dilemma with incorporating the public resource foraging failure risk. Risk-averse individuals tend to lead a autarkic life, while risk-preferential ones tend to participate in the risky public goods game. For participants, group's success relies on its cooperativeness, with increasing contribution leading to increasing success likelihood. We introduce a function with one tunable parameter to describe the risk removal pattern and study in detail three representative classes. Analytical results show that the widely replicated population dynamics of cyclical dominance of loner, cooperator and defector disappear, while most of the time loners act as savors while eventually they also disappear. Depending on the way that group's success relies on its cooperativeness, either cooperators pervade the entire population or they coexist with defectors. Even in the later case, cooperators still hold salient superiority in number as some defectors also survive by parasitizing. The harder the joint venture succeeds, the higher level of cooperation once cooperators can win the evolutionary race. Our work may enrich the literature concerning the risky public goods games.

The increased risk of joint venture promotes social cooperation.

Science.gov (United States)

Wu, Te; Fu, Feng; Zhang, Yanling; Wang, Long

2013-01-01

The joint venture of many members is common both in animal world and human society. In these public enterprizes, highly cooperative groups are more likely to while low cooperative groups are still possible but not probable to succeed. Existent literature mostly focuses on the traditional public goods game, in which cooperators create public wealth unconditionally and benefit all group members unbiasedly. We here institute a model addressing this public goods dilemma with incorporating the public resource foraging failure risk. Risk-averse individuals tend to lead a autarkic life, while risk-preferential ones tend to participate in the risky public goods game. For participants, group's success relies on its cooperativeness, with increasing contribution leading to increasing success likelihood. We introduce a function with one tunable parameter to describe the risk removal pattern and study in detail three representative classes. Analytical results show that the widely replicated population dynamics of cyclical dominance of loner, cooperator and defector disappear, while most of the time loners act as savors while eventually they also disappear. Depending on the way that group's success relies on its cooperativeness, either cooperators pervade the entire population or they coexist with defectors. Even in the later case, cooperators still hold salient superiority in number as some defectors also survive by parasitizing. The harder the joint venture succeeds, the higher level of cooperation once cooperators can win the evolutionary race. Our work may enrich the literature concerning the risky public goods games.

Teaching and Research: Establishing Link in Studio-Based Education

Directory of Open Access Journals (Sweden)

A. Ozdemyr

2007-09-01

Full Text Available The compelling ideal of modern architectural education associated with Boyer’s (1990 framework is a scholarly collaboration by a relationship between teaching and research. Research enhances teaching through the introduction of new topics and methodologies. Research-based teaching stimulates better communication between students and lecturers as researchers. Students’ comments and questions can improve the subject of future research. A model of research-based teaching can be structured to teach both research findings and processes. This model can be well integrated to current curriculum with emphasis on research-oriented teaching in which students take part in the research process. In this process, instructors use their research experience during their interactions with students. This paper discusses the establishment of the link between research and teaching in the built environment with cases from studio-based learning in Landscape Architecture discipline. The argument is that studio-based education should be accepted as a pedagogical method to take part in teaching research to make connections between architecture and other disciplines. This effort will position the education into a research-based setting and make proposals to re-orient curriculum so that researchers can teach what and how they research.

All the Vice Chancellor’s Neuroscientists: Unity to Achieve Success in Solving Malaysia’s Diseases via Upgrading Clinical Services and Neuroscience Research

Science.gov (United States)

Abdullah, Jafri Malin

2013-01-01

President Obama of the United States of America announced this April the Brain Research Through Advancing Innovative Neurotechnologies (BRAIN for short) investment, while Professor Henry Markram’s team based in the European Union will spend over a billion euros on the Human Brain Project, breaking through the unknowns in the fifth science of the decade: Neuroscience. Malaysia's growth in the same field needs to be augmented, and thus the Universiti Sains Malaysia’s vision is to excel in the field of clinical brain sciences, mind sciences and neurosciences. This will naturally bring up the level of research in the country simultaneously. Thus, a center was recently established to coordinate this venture. The four-year Integrated Neuroscience Program established recently will be a sustainable source of neuroscientists for the country. We hope to establish ourselves by 2020 as a global university with neurosciences research as an important flagship. PMID:23966818

The Pros and Cons of Using Joint Ventures as a Tool to Mitigate Political Risks in Developing Countries

Directory of Open Access Journals (Sweden)

Violeta Iftinchi

2018-03-01

Full Text Available As part of their political risk management strategy, multinational corporations (MNCs can use joint ventures as a tool to reduce their exposure to political risks in international activities. The aim of this article is to present the main benefits for MNCs in using joint ventures with a local partner to mitigate political risks in developing countries and to put forward three risks that MNCs have to consider when choosing the local partner (the risk of opportunistic expropriation, the risk associated with transferring of intellectual property rights and reputational risk.

Allocation and Productivity of Time in New Ventures of Female and Male Entrepreneurs

NARCIS (Netherlands)

I. Verheul (Ingrid); M.A. Carree (Martin); A.R. Thurik (Roy)

2007-01-01

textabstractThis paper investigates time allocation decisions in new ventures of female and male entrepreneurs using a model that distinguishes between effects of preferences and productivity on the number of working hours. Using data of 1,158 entrepreneurs we find that the preference for work time

Allocation and Productivity of Time in New Ventures of Female and Male Entrepreneurs

NARCIS (Netherlands)

I. Verheul (Ingrid); M.A. Carree (Martin); A.R. Thurik (Roy)

2005-01-01

textabstract[Please note that there exists an updated version of this publication at http://hdl.handle.net/1765/8989] This study investigates the factors explaining the number of hours invested in new ventures, making a distinction between the effect of preference for work time versus leisure time

Allocation and productivity of time in new ventures of female and male entrepreneurs

NARCIS (Netherlands)

I. Verheul (Ingrid); M.A. Carree (Martin); A.R. Thurik (Roy)

2009-01-01

textabstractThis paper investigates time allocation decisions in new ventures of female and male entrepreneurs using a model that distinguishes between effects of preferences and productivity on the number of working hours. Using data of 1,158 entrepreneurs we find that the preference for work time

Establishing a national research center on day care

DEFF Research Database (Denmark)

Ellegaard, Tomas

The paper presents and discusses the current formation of a national research center on ECEC. The center is currently being established. It is partly funded by the Danish union of early childhood and youth educators. It is based on cooperation between a number of Danish universities and this nati...... current new public management policies. However there is also more conflicting issues that emerge in this enterprise – especially on interests, practice relevance and knowledge paradigms....

Ventures in science status report, Summer 1992

Energy Technology Data Exchange (ETDEWEB)

1992-11-01

The Ventures in Science summer program is directed towards students who are from underrepresented minority groups in mathematics and science professions. The target group of 40 was drawn from eligible students who will be entering high school freshman in the fall of 1992. 450 students applied. The theme for the summer is Chicago as an Ecosystem. The students are instructed in integrated math and science (2 hours), English/ESL (1 1/2 hrs.), counseling (1 hr.) and, physical education (1 hr.) each day four days a week. Integrated math and science are team taught. Parents are invited to participate in two workshops that will be presented based on their input. Parents may also visit the program at any time and participate in any field trip.

The characteristics and performance of international joint ventures in Thailand

OpenAIRE

Suwannarat, P

2010-01-01

The importance of strategic alliances in the form of international joint ventures (IJVs) is growing in the present international business environment where competition is on a global scale. A review of the IJV literature, especially in developing countries, shows an over-emphasis on China and the NIEs (the first tier newly-industrialising economies: Taiwan, Singapore, Hong Kong, and South Korea). To date, relatively little attention has been paid to the ASEAN4 countries (the high-performing e...

Fifteen Challenges in Establishing a Multidisciplinary Research Program on eHealth Research in a University Setting: A Case Study.

Science.gov (United States)

Grönqvist, Helena; Olsson, Erik Martin Gustaf; Johansson, Birgitta; Held, Claes; Sjöström, Jonas; Lindahl Norberg, Annika; Hovén, Emma; Sanderman, Robbert; van Achterberg, Theo; von Essen, Louise

2017-05-23

U-CARE is a multidisciplinary eHealth research program that involves the disciplines of caring science, clinical psychology, health economics, information systems, and medical science. It was set up from scratch in a university setting in 2010, funded by a governmental initiative. While establishing the research program, many challenges were faced. Systematic documentation of experiences from establishing new research environments is scarce. The aim of this paper was to describe the challenges of establishing a publicly funded multidisciplinary eHealth research environment. Researchers involved in developing the research program U-CARE identified challenges in the formal documentation and by reflecting on their experience of developing the program. The authors discussed the content and organization of challenges into themes until consensus was reached. The authors identified 15 major challenges, some general to establishing a new research environment and some specific for multidisciplinary eHealth programs. The challenges were organized into 6 themes: Organization, Communication, Implementation, Legislation, Software development, and Multidisciplinarity. Several challenges were faced during the development of the program and several accomplishments were made. By sharing our experience, we hope to help other research groups embarking on a similar journey to be prepared for some of the challenges they are likely to face on their way. ©Helena Grönqvist, Erik Martin Gustaf Olsson, Birgitta Johansson, Claes Held, Jonas Sjöström, Annika Lindahl Norberg, Emma Hovén, Robbert Sanderman, Theo van Achterberg, Louise von Essen. Originally published in the Journal of Medical Internet Research (http://www.jmir.org), 23.05.2017.

Companies investments on Private Equity/Venture Capital market

Directory of Open Access Journals (Sweden)

Zbigniew Drewniak

2009-12-01

Full Text Available One of the investors on Private Equity/Venture Capital market are corporations. The share of companies in total funds raised by PE/VC funds is still on the very low level. Beside indirect investments, companies invest directly, creating special entities in one corporate structure. Capital gains are one of the advantages of these investments for companies. However, the companies have also other purposes like the acquirement and the development of new technologies, as well as the transfer of knowledge. The participation of PE/VC fund in the investment process results in the support for company expansion and the creation of company value.

75 FR 82426 - Big Four Terminal Railroad, LLC-Operation Exemption-RMW Ventures, LLC

Science.gov (United States)

2010-12-30

... DEPARTMENT OF TRANSPORTATION Surface Transportation Board [Docket No. FD 35454] Big Four Terminal Railroad, LLC--Operation Exemption--RMW Ventures, LLC Big Four Terminal Railroad, LLC (BFTR), has filed a verified notice of exemption under 49 CFR 1150.31 to operate over 5.2 +/- miles of rail line between...

Annual report of Naka Fusion Research Establishment. From April 1, 1995 to March 31, 1996

Energy Technology Data Exchange (ETDEWEB)

Shimada, Michiya; Asakura, Nobuyuki; Moriyama, Shinichi; Yamanishi, Toshihiko; Seki, Masahiro; Takahashi, Ichiro [Japan Atomic Energy Research Inst., Naka, Ibaraki (Japan). Naka Fusion Research Establishment; eds.

1996-11-01

This report provides an overview of research and development activities at Naka Fusion Research Establishment, JAERI, during the period from April 1, 1995 to March 31, 1996. The activities in Naka Fusion Research Establishment are highlighted by high-temperature plasma research in JT-60U and JFT-2M, and progress in ITER-EDA, including technology development. (author)

Annual report of Naka Fusion Research Establishment from April 1, 1997 to March 31, 1998

Energy Technology Data Exchange (ETDEWEB)

NONE

1998-11-01

This report provides an overview of research and development activities at Naka Fusion Research Establishment, JAERI, during the period from April 1, 1997 to March 31, 1998. The activities in Naka Fusion Research Establishment are highlighted by high temperature plasma research in JT-60 and JFT-2M, and progress in ITER-EDA, including technology development. (J.P.N.)

BREEAM [Building Research Establishment Environmental Assessment Method] BRE [Building Research Establishment] assessment method for buildings

International Nuclear Information System (INIS)

Baldwin, R.

1994-01-01

Buildings account for a large share of environmental impacts in their construction, use, and demolition. In western Europe, buildings account for ca 50% of primary energy use (hence CO 2 output), far outweighing the contribution of the transport and industrial sectors. Other impacts from building energy use include the use of chemicals such as chlorofluorocarbons for cooling. In the United Kingdom, the Building Research Establishment (BRE) has developed a certificate system for environmental labelling of buildings so that the performance of the building against a set of defined environmental criteria can be made visible to clients. This system thus rewards positive actions to improve the environmental performance of buildings and assists in marketing to an environmentally aware clientele. Issues included in assessments for awarding the certificate are addressed under three main headings: global issues and use of resources, local issues, and indoor issues. Global issues include ozone depletion and CO 2 emissions; local issues include public health and water conservation; and indoor issues include air quality and lighting. 8 refs., 1 tab

Adaptive Fusion of Information for Seeing into Ordos Basin, China: A China-Germany-US Joint Venture.

Science.gov (United States)

Yeh, T. C. J.; Yin, L.; Sauter, M.; Hu, R.; Ptak, T.; Hou, G. C.

2014-12-01

Adaptive fusion of information for seeing into geological basins is the theme of this joint venture. The objective of this venture is to initiate possible collaborations between scientists from China, Germany, and US to develop innovative technologies, which can be utilized to characterize geological and hydrological structures and processes as well as other natural resources in regional scale geological basins of hundreds of thousands of kilometers (i.e., the Ordos Basin, China). This adaptive fusion of information aims to assimilate active (manmade) and passive (natural) hydrologic and geophysical tomography surveys to enhance our ability of seeing into hydrogeological basins at the resolutions of our interests. The active hydrogeophysical tomography refers to recently developed hydraulic tomgoraphic surveys by Chinese and German scientists, as well as well-established geophysical tomography surveys (such as electrical resistivity tomography, cross-borehole radars, electrical magnetic surveys). These active hydrogeophysical tomgoraphic surveys have been proven to be useful high-resolution surveys for geological media of tens and hundreds of meters wide and deep. For basin-scale (i.e., tens and hundreds of kilometers) problems, their applicabilities are however rather limited. The passive hydrogeophysical tomography refers to unexplored technologies that exploit natural stimuli as energy sources for tomographic surveys, which include direct lightning strikes, groundwater level fluctuations due to earthquakes, river stage fluctuations, precipitation storms, barometric pressure variations, and long term climate changes. These natural stimuli are spatially varying, recurrent, and powerful, influencing geological media over great distances and depths (e.g., tens and hundreds of kilometers). Monitoring hydrological and geophysical responses of geological media to these stimuli at different locations is tantamount to collecting data of naturally occurring tomographic

VENTURE: a code block for solving multigroup neutronics problems applying the finite-difference diffusion-theory approximation to neutron transport, version II. [LMFBR

Energy Technology Data Exchange (ETDEWEB)

Vondy, D.R.; Fowler, T.B.; Cunningham, G.W.

1977-11-01

The report documents the computer code block VENTURE designed to solve multigroup neutronics problems with application of the finite-difference diffusion-theory approximation to neutron transport (or alternatively simple P/sub 1/) in up to three-dimensional geometry. It uses and generates interface data files adopted in the cooperative effort sponsored by the Reactor Physics Branch of the Division of Reactor Research and Development of the Energy Research and Development Administration. Several different data handling procedures have been incorporated to provide considerable flexibility; it is possible to solve a wide variety of problems on a variety of computer configurations relatively efficiently.

Case-study application of venture analysis: the integrated energy utility. Volume 3. Appendices

Energy Technology Data Exchange (ETDEWEB)

Fein, E; Gordon, T J; King, R; Kropp, F G; Shuchman, H L; Stover, J; Hausz, W; Meyer, C

1978-11-01

The appendices for a case-study application of venture analysis for an integrated energy utility for commercialization are presented. The following are included and discussed: utility interviews; net social benefits - quantitative calculations; the financial analysis model; market penetration decision model; international district heating systems; political and regulatory environment; institutional impacts.

Research Network of Tehran Defined Population: Methodology and Establishment

Directory of Open Access Journals (Sweden)

Ali-Asghar Kolahi

2015-12-01

Full Text Available Background: We need a defined population for determining prevalence and incidence of diseases, as well as conducting interventional, cohort and longitudinal studies, calculating correct and timely public health indicators, assessing actual health needs of community, performing educational programs and interventions to promote healthy lifestyle, and enhancing quality of primary health services.The objective of this project was to determine a defined population which is representative of Tehran, the Capital of Iran. This article reports the methodology and establishment of the research network of Tehran defined population.Methods: This project started by selecting two urban health centers from each of the five district health centers affiliated to Shahid Beheshti University of Medical Sciences in 2012. Inside each selected urban health center, one defined population research station was established. Two new centers have been added during 2013 and 2014. For the time being, the number of the covered population of the network has reached 40000 individuals. The most important criterion for the defined population has been to be representative of the population of Tehran. For this, we selected two urban health centers from 12 of 22 municipality districts and from each of the five different socioeconomic of Greater Tehran. Merely 80000 individuals in neighborhoods of each defined population research station were considered as control group of the project.Findings: Totally we selected 12 defined population research stations and their under-covered population developed a defined population which is representative of Tehran population.Conclusion: a population lab is ready now in metropolitan of Tehran.

Nuclear Research Centre Juelich (KFA). Annual report 1984/85

International Nuclear Information System (INIS)

1985-09-01

The annual report from the Nuclear Research Centre in Juelich (KFA) consist of four differently coloured parts. The 'white part' - from the research - published topical contributions from authors writing popular science. Subjects were chosen from the viewpoint of a journalist rather than oriented on the research field of the KFA. The 'yellow part' - reports on research and development - is a survey of the scientific-technological work of KFA structured according to the main fields of research of KFA. The 'green part' - research institutes and scientific-technological joint ventures - describes tasks and objectives of the individual institutes/joint ventures. The 'blue part' - organisation, administration and technical infrastructure - contains information on management, organisation and administration of KFA (personnel department, PR, finances, purchase- and material disposal department, cost and planning, cooperation and use of know-how, projects, technical equipment). (orig.) [de

The Potential for Joint Farming Ventures in Irish Agriculture: A Sociological Review

Directory of Open Access Journals (Sweden)

Cush Peter

2016-03-01

Full Text Available Joint farming ventures (JFVs are promoted within Irish and EU policy discourses as strategies that can enhance the economic and social sustainability of family farming. Research has shown that JFVs, including arrangements such as farm partnerships, contract rearing and share farming, can potentially enable farmers to work cooperatively to improve farm productivity, reduce working hours, facilitate succession, develop skills and improve relationships within the farm household. In the context of increasing policy promotion of JFVs, there is a need to make some attempt at understanding the macro socio-cultural disposition of family farming to cooperation. Reviewing sociological studies of agricultural cooperation and taking a specific focus on the Irish contextual backdrop, this paper draws the reader’s attention to the importance of historical legacy, pragmatic economic and social concerns, communicative norms, inter-personal relationships, individualism and, policy and extension stimuli, all of which shape farmers’ dispositions to cooperation and to JFVs specifically.

Spin-offs from Research Exhibition Science Bringing Nations Together

CERN Multimedia

1997-01-01

It is well known that the results of fundamental research can have unexpected and suc-cessful applications in different fields of human activity. A good example is that of nuclear track membranes. These membranes are produced by exposing polymer films to ion beams at isochronous cyclotrons in JINR. They are used in all fields that require reliable and ecologically safe filters; e.g. in medicine and in the food and elec-tronics industries. It is not surprising that Finnish businessmen readily accepted the proposal of the specialists from JINR's Laboratory of Nuclear Reactions to establish a joint venture for production of household water filters, and that these simple but effective devices are now used in many countries.

Determinants of Cross-border Venture Capital Investments in Emerging and Developed Economies

DEFF Research Database (Denmark)

Hain, Daniel; Johan, Sofia A.; Wang, Daojuan

2016-01-01

VCs, indicating the effects of intra-industry networks needing further analysis. Using China as a model, we provide a novel multidimensional framework to explain cross-border investments in innovative ventures across developed and emerging economies. By analyzing a unique international dataset, we...... is more relevant for investments in emerging economies, and relational trust is more relevant for investments in developed economies....

Government Sponsored Venture Capital: Blessing Or Curse?

Directory of Open Access Journals (Sweden)

Erika Jáki

2017-12-01

Full Text Available Young companies with growth opportunities face serious problems when it comes to financing. The private venture capital (VC market fails to provide sufficient funding for this segment. First, we present the main characteristics of start-up companies and market failures that can lead to government intervention. These failures include asymmetric information embodied in the business plan; high transaction costs of the investment process from the investment decision to the exit; and positive externalities in the economy, as the government prefers other goals than profit realization. Government participation is categorized as direct or indirect intervention. We present international studies showing that indirect government intervention can have both beneficial and negative effects on the vc market. Finally, the Hungarian government’s participation and intervention are evaluated on the domestic VC market.

Venturing into unknown territory: the preparation and formulation of the Second Benelux Structural Outline

NARCIS (Netherlands)

de Vries, J.

2008-01-01

Inherent in transnational planning are obstacles which cause spatial planners to venture into unknown territory. The scale, the issues and the institutional context are significantly different from planning at the national level or below. What does this mean for the role of spatial plan-making,

Business Takeover or New Venture? Individual and Environmental Determinants from a Cross-Country Study

NARCIS (Netherlands)

J.H. Block (Jörn); A.R. Thurik (Roy); P.W. van der Zwan (Peter); S. Walter (Sascha)

2010-01-01

textabstractWhereas the determinants of entrepreneurial choice have been thoroughly analyzed in the literature, little is known about the preferred mode of entry into entrepreneurship, such as taking over an existing business or starting a new venture. Using a large international dataset, this study

The influence of experiential, inherited and external knowledge on the internationalization of venture capital firms

NARCIS (Netherlands)

S. De Prijcker (Sofie); S. Manigart (Sophie); D.M. Wright (Mike); W. de Maeseneire (Wouter)

2012-01-01

textabstractThis paper examines the effect of different types of international knowledge accumulation on the internationalization of venture capital firms, as a particular type of professional service firms. We distinguish between experiential knowledge acquired through previous activities,

Balancing the Tradeoff between Personal Fulfillment and Competitiveness in Venture Creation

OpenAIRE

Simon Halberstadt; Matthias G. Raith; Thomas Zomack

2009-01-01

The fascination of venture creation is associated with an entrepreneur’s opportunity of achieving personal fulfillment. In reality, however, many nascent entrepreneurs discover that much of their original vision is sacrificed in the process of creating a startup. In this paper we address the conflict between the entrepreneur’s fulfillment and the startup’s competitiveness from a negotiationanalytic perspective. We show how the nature of this conflict is transformed in the process of business ...

Technology Transfer: From the Research Bench to Commercialization

Directory of Open Access Journals (Sweden)

Gail A. Van Norman, MD

2017-04-01

Full Text Available Summary: Technology transfer (TT encompasses a variety of activities that move academic discoveries into the public sector. Part 1 of this 2-part series explored steps in acquisition of intellectual property (IP rights (e.g., patents and copyrights. Part 2 focuses on processes of commercialization, including the technology transfer office, project development toward commercialization, and licensing either through the establishment of startup companies (venture capital–backed or otherwise or directly to industry. In private industry, TT often occurs through the sale of IP, products, or services, but in universities, the majority of TT occurs through the licensing of IP. Key Words: commercialization, licensing, technology transfer, venture capital

The ownership structure in the joint ventures and cooperation between firms in the processes of opening the sector of oil exploration and production to foreign investment; A formacao de joint ventures e a cooperacao entre as firmas nos processos de abertura do setor de exploracao e producao aos investimentos privados

Energy Technology Data Exchange (ETDEWEB)

Repsold, Junior, Hugo [PETROBRAS, Rio de Janeiro, RJ (Brazil); Carpio, Lucio Guido Tapia [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Coordenacao dos Programas de Pos-graduacao de Engenharia (COPPE). Programa de Planejamento Energetico

2004-07-01

Joint Ventures have been used as an important toll to improve the cooperation between firms and have gained a significant status since the recent opening of emerging countries economies to foreign investments. This work presents a study on the determinants of the Joint Ventures structure and an analysis of the cooperation process in the upstream of the petroleum industry. The subject of this study is a farm out process in which a firm sells part of its interest in a concession in order to form a Joint Venture. An analytical solution is presented to find the acceptable conditions for each firm and the negotiation process is also analyzed as a game in which decision makers try to rationally maximize the expected profit. (author)

Reactor core materials research and integrated material database establishment

International Nuclear Information System (INIS)

Ryu, Woo Seog; Jang, J. S.; Kim, D. W.

2002-03-01

Mainly two research areas were covered in this project. One is to establish the integrated database of nuclear materials, and the other is to study the behavior of reactor core materials, which are usually under the most severe condition in the operating plants. During the stage I of the project (for three years since 1999) in- and out of reactor properties of stainless steel, the major structural material for the core structures of PWR (Pressurized Water Reactor), were evaluated and specification of nuclear grade material was established. And the damaged core components from domestic power plants, e.g. orifice of CVCS, support pin of CRGT, etc. were investigated and the causes were revealed. To acquire more resistant materials to the nuclear environments, development of the alternative alloys was also conducted. For the integrated DB establishment, a task force team was set up including director of nuclear materials technology team, and projector leaders and relevant members from each project. The DB is now opened in public through the Internet

Access to finance for innovation: the role of venture capital and the stock market

NARCIS (Netherlands)

Bogliacino, F.; Lucchese, M.

2011-01-01

Financial constraints for young and small firms can prevent them from contributing to innovation and the creation of new jobs. The paper analyzes two of the several institutional mechanisms implemented to overcome that hurdle: the development of the venture capital market and access to the stock

Building a Marketing Curriculum to Support Courses in Social Entrepreneurship and Social Venture Competitions

Science.gov (United States)

Schlee, Regina Pefanis; Curren, Mary T.; Harich, Katrin R.

2009-01-01

This study examines the implications of the increased popularity of social enterprise programs and social venture competitions for the marketing curriculum. Social enterprise programs and competitions are often offered outside the school of business and target students from a variety of academic backgrounds. Although social enterprises use…

Establishing bioinformatics research in the Asia Pacific

Directory of Open Access Journals (Sweden)

Tammi Martti

2006-12-01

Full Text Available Abstract In 1998, the Asia Pacific Bioinformatics Network (APBioNet, Asia's oldest bioinformatics organisation was set up to champion the advancement of bioinformatics in the Asia Pacific. By 2002, APBioNet was able to gain sufficient critical mass to initiate the first International Conference on Bioinformatics (InCoB bringing together scientists working in the field of bioinformatics in the region. This year, the InCoB2006 Conference was organized as the 5th annual conference of the Asia-Pacific Bioinformatics Network, on Dec. 18–20, 2006 in New Delhi, India, following a series of successful events in Bangkok (Thailand, Penang (Malaysia, Auckland (New Zealand and Busan (South Korea. This Introduction provides a brief overview of the peer-reviewed manuscripts accepted for publication in this Supplement. It exemplifies a typical snapshot of the growing research excellence in bioinformatics of the region as we embark on a trajectory of establishing a solid bioinformatics research culture in the Asia Pacific that is able to contribute fully to the global bioinformatics community.

Knowledge translation research in population health: establishing a collaborative research agenda

Directory of Open Access Journals (Sweden)

Laurendeau Marie-Claire

2009-12-01

Full Text Available Abstract Background Despite the increasing mobilization of researchers and funding organizations around knowledge translation (KT in Canada and elsewhere, many questions have been only partially answered, particularly in the field of population health. This article presents the results of a systematic process to draw out possible avenues of collaboration for researchers, practitioners and decision-makers who work in the area of KT. The main objective was to establish a research agenda on knowledge translation in population health. Methods Using the Concept Mapping approach, the research team wanted to identify priority themes for the development of research on KT in population health. Mapping is based on multivariate statistical analyses (multidimensional scaling and hierarchical cluster analysis in which statements produced during a brainstorming session are grouped in weighted clusters. The final maps are a visual representation of the priority themes of research on KT. Especially designed for facilitating consensus in the understanding and organization of various concepts, the Concept Mapping method proved suitable for achieving this objective. Results The maps were produced by 19 participants from university settings, and from institutions within the health and social services network. Three main perspectives emerge from this operation: (1 The evaluation of the effectiveness of KT efforts is one of the main research priorities; (2 The importance of taking into consideration user contexts in any KT effort; (3 The challenges related to sharing power for decision-making and action-taking among various stakeholder groups. These perspectives open up avenues of collaboration for stakeholders who are involved in research on KT. Besides these three main perspectives, the concept maps reveal three other trends which should be emphasized. Conclusion The Concept Mapping process reported in this article aimed to provoke collective reflection on the

Development of a marketing strategy for the Coal Research Establishment`s emissions monitoring database

Energy Technology Data Exchange (ETDEWEB)

Beer, A.D.; Hughes, I.S.C. [British Coal Corporation, Stoke Orchard (United Kingdom). Coal Research Establishment

1995-06-01

A summary is presented of the results of work conducted by the UK`s Coal Research Establishment (CRE) between April 1994 and December 1994 following the completion of a project on the utilisation and publication of an emissions monitoring database. The database contains emissions data for most UK combustion plant, gathered over the past 10 years. The aim of this further work was to identify the strengths and weaknesses of CRE`s database, to investigate potential additional sources of data, and to develop a strategy for marketing the information contained within the database to interested parties. 3 figs.

Efficient capacity investment and joint production agreements in an oligopolistic electricity market: The HidroAysen joint venture project

International Nuclear Information System (INIS)

Raineri, Ricardo; Contreras, Gonzalo

2010-01-01

We develop a model for a power market with the characteristics of the Chilean power supply industry, which is an integrated system with a system operator (SO) with a vast authority to define the dispatch of the system. We evaluate whether a large joint power generator project made up by the two largest power generators is an anti-competitive project. Considering four investment technologies for power generation, namely, hydro, coal, diesel, and an advantageous hydro technology which can only be built in a large scale (HidroAysen) for the joint venture case, we use an oligopolistic Cournot model and a Benevolent Social Planner, both calibrated to the Chilean power industry, in order to assess the efficiency of alternative investment strategies and conditions whether the HidroAysen joint venture project can be barred to be judged as anti-competitive. Results suggest that the joint venture is an efficient investment and there is a pro-competitive behaviour on the part of the two power generators, and that there are benefit to consumers, who should expect non-increasing energy prices as a result of the advantageous hydrotechnology.

Hospital heavies. Venture capital bulks up companies that outsource medicine's newest specialty: inpatient-only care.

Science.gov (United States)

Huff, C

They're the designated drivers of inpatient care, cutting hospital stays by 19 percent on average. Yet as venture capital firms infuse hospitalist startup companies, some primary care doctors complain that their sickest patients are being taken away from them.

Annual report of Naka Fusion Research Establishment from April 1, 1998 to March 31, 1999

Energy Technology Data Exchange (ETDEWEB)

NONE

1999-09-01

This report provides an overview of research and development activities at the Naka Fusion Research Establishment, JAERI, during the period from April 1, 1998 to March 31, 1999. The activities in the Naka Fusion Research Establishment are highlighted by high temperature plasma research in JT-60 and JFT-2M as well as DIII-D (US-Japan collaboration), and progress in ITER EDA, including ITER technology R and D. (J.P.N.)

Russia: Privatisation and co-venturing in the Russian oil sector

International Nuclear Information System (INIS)

Sanders, D.; Zverev, A.

1993-01-01

As foreign investment in the Russian oil industry is now being permitted for the first time, many international companies are experiencing difficult and unreceptive conditions. This article suggests that the Russian domestic oil industry must seek to restructure itself in an orderly fashion, so that foreign investors are treated on a rational, open and fair basis. However western oil companies will need, alongside these changes, to invest in existing operations or actively seek the participation of local partners if privatization and co-venturing are to be a success. (UK)

Management control in joint ventures: an analysis based on transaction cost economics and game theory

NARCIS (Netherlands)

J.A. Talman (Joke)

2009-01-01

textabstractThis paper addresses the question what determines management control in joint ventures. The model developed for this purpose draws on two existing frameworks. The first, by Dekker (2004), shows how control in strategic alliances can be structured around two control problems, coordination

The Importance of Trust for Investment : Evidence From Venture Capital (Revision of DP 2009-43)

NARCIS (Netherlands)

Bottazzi, L.; Da Rin, M.; Hellmann, T.

2010-01-01

We examine the effect of trust on financial investment and contracting decisions in a micro-economic environment where trust is exogenous. Using hand-collected data on European venture capital, we show that the Eurobarometer measure of trust among nations significantly affects investment decisions.

The Importance of Trust for Investment : Evidence from Venture Capital (Replaced by DP 2010-49)

NARCIS (Netherlands)

Bottazzi, L.; Da Rin, M.; Hellmann, T.

2009-01-01

We examine the effect of trust on financial investment and contracting decisions in a micro-economic environment where trust is exogenous. Using hand-collected data on European venture capital, we show that the Eurobarometer measure of trust among nations significantly affects investment decisions.

Private Venture Capital’s Investment on University Spin-Offs: A Case Study of Tsinghua University Based on Triple Helix Model

DEFF Research Database (Denmark)

Gao, Yuchen; Hu, Yimei; Wang, Jingyi

2015-01-01

and transition economies where governments are transforming their roles. Thus the main purpose of this study is to investigate how private venture capitals’ investment willingness on university spin-offs are influenced by universities and governments under the Chinese context based on the triple helix model....... Through an in-depth case study on the interactions of triple helix actors of Tsinghua University’s spin-offs, it is found that government and university developing an environment of marketization exert positive influences on the investment willingness of private venture capitals. Whilst financial direct...

Research workshop to research work: initial steps in establishing health research systems on Malaita, Solomon Islands

Directory of Open Access Journals (Sweden)

Kekuabata Esau

2010-10-01

Full Text Available Abstract Introduction Atoifi Adventist Hospital is a 90 bed general hospital in East Kwaio, Malaita, Solomon Islands providing services to the population of subsistence villagers of the region. Health professionals at the hospital and attached College of Nursing have considerable human capacity and willingness to undertake health research. However they are constrained by limited research experience, training opportunities, research systems, physical infrastructure and access to resources. This brief commentary describes an 'Introduction to Health Research' workshop delivered at Atoifi Adventist Hospital in September 2009 and efforts to move from 'research workshop' to 'research work'. The Approach Using a participatory-action research approach underpinned by decolonising methodologies, staff from Atoifi Adventist Hospital and James Cook University (Queensland, Australia collaboratively designed, implemented and evaluated a health research workshop. Basic health research principles and methods were presented using active learning methodologies. Following the workshop, Atoifi Adventist Hospital and Atoifi College of Nursing staff, other professionals and community members reported an increased awareness and understanding of health research. The formation of a local Research Committee, improved ethics review procedures and the identification of local research mentors followed the week long workshop. The workshop has acted as a catalyst for research activity, increasing structural and human resource capacity for local health professionals and community leaders to engage in research. Discussion and Conclusions Participants from a variety of educational backgrounds participated in, and received benefit from, a responsive, culturally and linguistically accessible health research workshop. Improving health research systems at a remote hospital and aligning these with local and national research agendas is establishing a base to strengthen public health

Annual report of Kansai Research Establishment 2003. April 1, 2003 - March 31, 2004

International Nuclear Information System (INIS)

Nagashima, Akira; Mizuki, Jun'ichiro; Aoki, Katsutoshi; Yamakawa, Koichi; Nagashima, Keisuke; Daido, Hiroyuki; Koike, Masato; Shimizu, Yuichi; Yamagiwa, Mitsuru; Minehara, Eisuke; Harami, Taikan; Baba, Yuji; Murakami, Yoichi; Muramatsu, Koji; Akai, Hisazumi

2005-02-01

This report is the fifth issue of the annual report of Kansai Research Establishment, Japan Atomic Energy Research Institute. It covers status reports of R and D and results of experiments conducted at the Advanced Photon Research Center and the Synchrotron Radiation Research Center during the period from April 1, 2003 to March 31, 2004. (author)

Annual report of Kansai Research Establishment 2000. April 1, 2000 - March 31, 2001

Energy Technology Data Exchange (ETDEWEB)

Harami, Taikan; Hamaya, Nozomu; Mizuki, Jun-ichiro [Japan Atomic Energy Research Inst., Kizu, Kyoto (Japan). Kansai Research Establishment; and others

2002-02-01

This report is the second issue of the annual report of Kansai Research Establishment, Japan Atomic Energy Research Institute. It covers status reports of R and D and results of experiments conducted at the Advanced Photon Research Center and the Synchrotron Radiation Research Center during the period from April 1, 2000 to March 31, 2001. (author)

Annual report of Kansai Research Establishment 2001. April 1, 2001 - March 31, 2002

Energy Technology Data Exchange (ETDEWEB)

Tajima, Toshiki; Harami, Taikan; Kawanishi, Shun-ichi (eds.) [Japan Atomic Energy Research Inst., Kansai Research Establishment, Kizu, Kyoto (JP)] [and others

2003-02-01

This report is the third issue of the annual report of Kansai Research Establishment, Japan Atomic Energy Research Institute. It covers status reports of R and D and results of experiments conducted at the Advanced Photon Research Center and the Synchrotron Radiation Research Center during the period from April 1, 2001 to March 31, 2002. (author)

Annual report of Kansai Research Establishment 2002. April 1, 2002 - March 31, 2003

International Nuclear Information System (INIS)

Harami, Taikan; Mizuki, Jun-ichiro; Aoki, Katsutoshi

2004-02-01

This report is the fourth issue of the annual report of Kansai Research Establishment, Japan Atomic Energy Research Institute. It covers status reports of R and D and results of experiments conducted at the Advanced Photon Research Center and the Synchrotron Radiation Research Center during the period from April 1, 2002 to March 31, 2003. (author)

Annual report of Kansai Research Establishment 1999. October 1, 1995 - March 31, 2000

International Nuclear Information System (INIS)

Arisawa, Takashi; Shimomura, Osamu; Nagashima, Akira

2001-03-01

This report is the first issue of the annual report of Kansai Research Establishment, Japan Atomic Energy Research Institute. It covers status reports of R and D and results of experiments conducted at the Advanced Photon Research Center and the Synchrotron Radiation Research Center during the period from October 1, 1995 to March 31, 2000. (author)

An Agent-Based Model of New Venture Creation: Conceptual Design for Simulating Entrepreneurship

Science.gov (United States)

Provance, Mike; Collins, Andrew; Carayannis, Elias

2012-01-01

There is a growing debate over the means by which regions can foster the growth of entrepreneurial activity in order to stimulate recovery and growth of their economies. On one side, agglomeration theory suggests the regions grow because of strong clusters that foster knowledge spillover locally; on the other side, the entrepreneurial action camp argues that innovative business models are generated by entrepreneurs with unique market perspectives who draw on knowledge from more distant domains. We will show you the design for a novel agent-based model of new venture creation that will demonstrate the relationship between agglomeration and action. The primary focus of this model is information exchange as the medium for these agent interactions. Our modeling and simulation study proposes to reveal interesting relationships in these perspectives, offer a foundation on which these disparate theories from economics and sociology can find common ground, and expand the use of agent-based modeling into entrepreneurship research.

ENTREPRENEURIAL BEHAVIOR: IMPACT OF MOTIVATION FACTORS ON DECISION TO CREATE A NEW VENTURE

Directory of Open Access Journals (Sweden)

Barba-Sánchez, Virginia

2012-05-01

Full Text Available Newly created enterprises increase the dynamism of economies and generate employment. Thus, they are the object of growing research interest. Forming a new company represents a decision based on both personal and subjective motives, as well as on the environment. But regardless of the origin, a founder’s motivation represents a commitment to a project or business idea, and thus dictates the future success of the enterprise. This article investigates the motivational profiles of entrepreneurs, and why they choose to create new industrial enterprises. To detail this profile, we present the results of an empirical study of 101 entrepreneurs who have founded companies. The results offer significant conclusions for both academics and practitioners. Firstly, making money or being one’s own boss does not appear to be sufficient reasons to create a new venture. Secondly, the motivation content of entrepreneurs influences their decision to start a business. From these conclusions, some relevant guidelines are suggested.

Stereosat: A proposed private sector/government joint venture in remote sensing from space

Science.gov (United States)

Anglin, R. L.

1980-01-01

Stereosat, a free flying Sun synchronous satellite whose purpose is to obtain worldwide cloud-free stereoscopic images of the Earth's land masses, is proposed as a joint private sector/government venture. A number of potential organization models are identified. The legal, economic, and institutional issues which could impact the continuum of potential joint private sector/government institutional structures are examined.

Knowledge-Intensive Entrepreneurship and the Impact of Human Capital

DEFF Research Database (Denmark)

Madsen, Henning; Neergaard, Helle; Ulhøi, John Parm

2002-01-01

The purpose of this paper is to address selected aspects of human capital in association with the entrepreneurial process in technology-based new ventures. Until recently, research investigating the founding of new businesses has mainly focused on the personal characteristics of entrepreneurs...... experiences are both considered to be critical to the entrepreneurial process, as they both seem to impact on new venture establishment. The longer the career path before venture founding, the more experience an entrepreneur has gathered. Therefore, age seems to have a positive influence on the success...... of a newly founded venture. Furthermore, the dimensions of human capital, experience and previous employment, seem to be essential in building the networks that help secure both the early as well as a continuous pool of finance for the ventures....

Establishing research priorities for patient safety in emergency medicine: a multidisciplinary consensus panel.

Science.gov (United States)

Plint, Amy C; Stang, Antonia S; Calder, Lisa A

2015-01-01

Patient safety in the context of emergency medicine is a relatively new field of study. To date, no broad research agenda for patient safety in emergency medicine has been established. The objective of this study was to establish patient safety-related research priorities for emergency medicine. These priorities would provide a foundation for high-quality research, important direction to both researchers and health-care funders, and an essential step in improving health-care safety and patient outcomes in the high-risk emergency department (ED) setting. A four-phase consensus procedure with a multidisciplinary expert panel was organized to identify, assess, and agree on research priorities for patient safety in emergency medicine. The 19-member panel consisted of clinicians, administrators, and researchers from adult and pediatric emergency medicine, patient safety, pharmacy, and mental health; as well as representatives from patient safety organizations. In phase 1, we developed an initial list of potential research priorities by electronically surveying a purposeful and convenience sample of patient safety experts, ED clinicians, administrators, and researchers from across North America using contact lists from multiple organizations. We used simple content analysis to remove duplication and categorize the research priorities identified by survey respondents. Our expert panel reached consensus on a final list of research priorities through an in-person meeting (phase 3) and two rounds of a modified Delphi process (phases 2 and 4). After phases 1 and 2, 66 unique research priorities were identified for expert panel review. At the end of phase 4, consensus was reached for 15 research priorities. These priorities represent four themes: (1) methods to identify patient safety issues (five priorities), (2) understanding human and environmental factors related to patient safety (four priorities), (3) the patient perspective (one priority), and (4) interventions for