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Sample records for venture business growing

  1. Freemium Business Models as the Foundation for Growing an E-business Venture: A Multiple Case Study of Industry Leaders

    DEFF Research Database (Denmark)

    Günzel-Jensen, Franziska; Holm, Anna B.

    2015-01-01

    In e-business freemium business models have become legitimate. However, current research provides little insight on how the free and premium offering should be employed to lead to growth and success in the long run. The presented research aims to fill this gap by investigating how the property ‘f...

  2. Exploratory Orientation, Business Model Innovation and New Venture Growth

    Directory of Open Access Journals (Sweden)

    Hao Zhang

    2017-12-01

    Full Text Available Why are some start-ups more successful than other companies? In view of this question, this paper deconstructs the growth mechanism of the present new Chinese ventures from the perspective of Internet entrepreneurship and points out that exploratory orientation and business model innovation play an important role in the new ventures growth process. Based on this, through the investigation of 210 start-ups in China, the research found that: (1 exploratory orientation is in a positive relationship with the growth of new ventures; (2 business model innovation plays a mediated role between exploratory orientation and new business growth; (3 Internet embeddedness is found as a moderator in the relationship between exploratory orientation and the growth of new ventures. This finding will not only help further deepen the new research in the new venture growth process but also help to further expand exploratory orientation, business model innovation and the important role of the Internet embeddedness in the growth of new ventures.

  3. Classroom Business Ventures: Career Education for Physically Disabled Students.

    Science.gov (United States)

    Cohen, James S.; Stieglitz, Maria

    A classroom business venture (CBV), one component of the Human Resources School's career development program for physically disabled fifth, sixth, and seventh graders, is described. A CBV is defined as a simulated business situation where students, with teacher guidance, plan and organize the operation toward the eventual goal of distribution of…

  4. Small business and entrepreneurial venture in an economic conundrum

    OpenAIRE

    John Amolo; Stephen O. Migiro

    2017-01-01

    Does small business add the same value as entrepreneurial venture to an economy? Entrepreneurial ventures are resilient to economic duress, while providing higher quality and quantity of jobs, products and services. A needed entrepreneurial economic omnipresence pervasively stimulates socio-economic mindset in opportunity, rather than resource pursuit. A managed economy is under challenge by a knowledge economy and the policies of the former have become irrelevant for the latter. The unpredic...

  5. Business Plan for Existing Venture: Papu Cafe

    OpenAIRE

    Truc, Nha

    2017-01-01

    Finland is considered as one of the potential markets for specialty coffee industry with the high amount of coffee consumption. The aim of this research is developing a business plan for existing business – Papu Cafe in the center of Helsinki, Finland. In this research, the author focuses on investigating the entrepreneurship and coffee industry in Finland, the characteristics of coffee drinking trends. Besides, it is essential to understand the purpose of conducting a business plan for ...

  6. 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....

  7. BUSINESS PLANNING STARTUPS IN CONTEXT, ATTRACTING VENTURE CAPITAL INVESTMENT

    Directory of Open Access Journals (Sweden)

    V. A. Vernikov

    2014-01-01

    Full Text Available The topic of this article is relevant, as the hallmark of innovative business development inRussiais a gradual but steady transition from uncivilized forms of business to the latest international study using the methods and tools of business planning. As the experience of western businessmen prerequisite for the success of creating a business from scratch, is to develop a business plan that allows you to specify how the essence and purpose of the project and the number of required investment funds.Purpose / Objectives. The aim of the article is to analyze the theoretical and methodological foundations of business planning for startups to attract venture capital investment based on the study of foreign experience. Objectives of the article: consider the theoretical basis for planning a startup; - To analyze the experience of entrepreneurs planning a startup in Western countries.Methodology. Methodological basis of this article appeared comparative and structural analysis methods.Results. Preparing a business plan for a startup project is a complex and labor-intensive process, where the business plan is a business card needed to attract external funding, the road map for the initiator of the project, so its preparation no trifl es. As the experience of western businessmen, errors that may have occurred during the development of a business plan: the unreliability and incompleteness of the input information; ignoring the need to prepare an analysis of the market or use in its preparation unreliable sources; errors in the calculations carried out, their incompleteness; errors in the text part of the business plan, as well as non-compliance with the logic of the material, its scarcity, unprofessional calculations; lack of risk analysis. With the right approach to the preparation of a business plan it can be not only a formal document, but also a practical guide to the implementation of business ideas that will allow for timely assessment of the impact

  8. Financing Small Businesses: From Venture Capital to Crowdfunding

    Directory of Open Access Journals (Sweden)

    Herciu Mihaela

    2017-08-01

    Full Text Available Startups and small businesses are facing many challenges in terms of financing their activities. These types of companies do not have the possibility to access capital market or to make IPO or to borrow money from banks like big, mature or well-known companies (who were at their beginnings startups or small businesses. They have to find different sources for financing their ideas/products/services that are in many cases very risky, hazardous or to ambitious. But, fortunately, the financing alternative for these companies have evolved during the last post crisis years. They have possibility to find some investors that are willing to invest in a non-name company by accessing crowdfunding platforms, impress angel investors, or attracting venture capital. All that in order to develop their business and to become a unicorn or to have a great exit.

  9. 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.

  10. 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.

  11. Do Business Demographics Matter to Nascent Venture Performance? A Longitudinal Evidence from the Kauffman Firm Survey.

    Directory of Open Access Journals (Sweden)

    Augustine Yao Dzathor

    2013-08-01

    Full Text Available Scant literature exists on impact of organizational demographics on nascent venture performance. Business demographics were looked at through the lenses of organizational traits, resource-based view and population ecology theories. The combined as well as the  individual longitudinal impact of five business demographics (nature of product, primary location of business, number of active owner-operators, business legal status and technological orientation on nascent venture performance was examined. 754 out of the 863 businesses that survived cleaning of the first four years of the Kauffman Firm Survey (KFS dataset were retained in the analysis sample to maintain the original sample stratification of the data set. Results of multiple regression revealed that business demographics globally had significant effect on nascent venture performance in year-2 and year-4 of first four years of existence of the cohort of businesses studied. Three of the individual business demographics indicators, namely: nature of product, business legal status and technological orientation also had significant but inconsistent effects on nascent venture performance across the four years under study. The study threw light on the longitudinal effects of business demographics on nascent venture performance and drew attention to the fact that business demographics can theoretically be envisioned through the lenses of trait theory, resource based view and population ecology theory.

  12. 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

  13. Implementation of Knowledge Management for Business Competitiveness in Provecta Capital (Venture Capital)

    OpenAIRE

    Fahroni, Ramdhan; Tjakraatmadja, Jann Hidajat

    2013-01-01

    Provecta capital as new venture capital firm is facing business challenges. The firm has an obligation to promote business start-up that became the investee company. Provecta Capital business success is depends on the success of their investee companies business. Therefore, increasing business competitiveness of their investee-companies is become challenge to Provecta Capital. The development solution of Provecta Capital is by implementing knowledge management in their business. Ideally, know...

  14. Innovation and Business Growth through Corporate Venturing in Latin America: Analysis of Strategic Fit

    OpenAIRE

    Rajagopal,

    2005-01-01

    Corporate venturing as a strategy for international business development has become significant in view of the process of globalization resulting into the free trade and business development opportunities for multinational companies. This study is based on empirical investigation through semi-structured interviews administered to the managers of multinational companies operating in Mexico. The success of the corporate ventures in Mexico has been evaluated from the perspectives of economic and...

  15. Fostering Entrepreneurial Investment Decision in Medical Technology Ventures in a Changing Business Environment

    Directory of Open Access Journals (Sweden)

    Sonja Bettina Keppler

    2015-02-01

    Full Text Available This paper presents the results obtained from a survey among public and private venture capitalists from countries which attract a large amount of venture capital investment: Germany, Switzerland, Austria and Israel. The objective is to investigate venture capitalists’ investment criteria for medical technology ventures in the start-up or expansion phase. Since existing research evaluated venture capitalists’ general investment criteria, the aim of this study is to provide specific results on entrepreneurial investment decisions for the medical technology sector, which constantly attracted a significant share of European venture capital. The research used semi-structured interviews with 39 venture capitalists and experts. The results show that venture capitalists prefer to invest in companies which develop products for treating and diagnosing diseases showing a high prevalence and large market volumes, such as cardiovascular, metabolic and neurological diseases, and orthopaedic disorders. The study confirms that venture capitalists use a number of industry-specific criteria highly relevant in a changing business environment. These include a high medical need for the product, availability of clinical data, stage of European Conformity approval, high probability of receiving reimbursement from health insurances, medical key opinion leaders supporting technology, management’s regulatory experience and their communication ability with doctors and key opinion leaders.

  16. Focus on opportunities as a mediator of the relationship between business owners' age and venture growth

    NARCIS (Netherlands)

    Gielnik, Michael M.; Zacher, Hannes; Frese, Michael

    Combining upper echelons and lifespan theories, we investigated the mediating effect of focus on opportunities on the negative relationship between business owners' age and venture growth. We also expected that mental health moderates the negative relationship between business owners' age and focus

  17. Accelerating Venture Creation and Building on Mutual Strengths in Experimental Business Labs

    Science.gov (United States)

    Curley, Martin G.; Formica, Piero

    2010-01-01

    This paper articulates the opportunity of using an experimental business laboratory approach as a means of accelerating the creation, incubation and testing of new venture ideas. Such a strategy leads to the establishment of a micro-ecosystem of aspiring entrepreneurs and others in a business laboratory environment. The goal is to create a mini…

  18. Open Learning within Growing Businesses

    Science.gov (United States)

    Klofsten, Magnus; Jones-Evans, Dylan

    2013-01-01

    Purpose: Understanding the factors behind successful enterprise policy interventions are critical in ensuring effective programme development. The aim of this paper is to analyse an academic-industry initiative in Sweden developed to support knowledge-intensive businesses in expanding their operations. Design/methodology/approach: This paper…

  19. 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.

  20. 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.

  1. 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.

  2. 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

  3. 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.

  4. Global Business Strategy: Multinational Corporations Venturing into Emerging Markets

    National Research Council Canada - National Science Library

    Motohashi, Kazuyuki

    2015-01-01

    This book presents theories and case studies for corporations in developed nations, including Japan, for designing strategies to maximize opportunities and minimize threats in business expansion into developing nations...

  5. Institutional influences on business model choice by new ventures in the microgenerated energy industry

    Energy Technology Data Exchange (ETDEWEB)

    Provance, Mike, E-mail: mprovanc@odu.edu [Old Dominion University, Norfolk, VA 23529 (United States); Donnelly, Richard G.; Carayannis, Elias G. [George Washington University, Washington, DC 20052 (United States)

    2011-09-15

    Business model choice plays an important source of competitive advantage for new ventures in the microgeneration sector. Yet, existing literature focuses on strategic management of internal resources as the constraints in this choice process. In the energy sector, external factors may be at least as influential in shaping these business models. This paper examines the roles of politico-institutional and socio-institutional dynamics in the choice of business models for microgeneration ventures. Business models have traditionally been viewed as constructions of the internal values, strategies, and resources of organizations. But, this perspective overlooks the role that external forces have on these models, particularly in more highly institutionalized contexts like microgeneration. When these factors are introduced into the existing framework for business model choice, the business model based less on firm decision-making and more about variables that exist within national innovation systems and political structure, local socio-technological conditions, and cognitive abilities of the entrepreneur and corresponding stakeholders. - Highlights: > This work provides theoretical foundation for variation in microgeneration business models. > Explores institutional influences on strategic view of business model choice. > Compares the nature of microgeneration across geo-political contexts.

  6. SMEs and new ventures need business model sophistication

    DEFF Research Database (Denmark)

    Kesting, Peter; Günzel-Jensen, Franziska

    2015-01-01

    , and Spreadshirt, this article develops a framework that introduces five business model sophistication strategies: (1) uncover additional functions of your product, (2) identify strategic benefits for third parties, (3) take advantage of economies of scope, (4) utilize cross-selling opportunities, and (5) involve...

  7. 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.

  8. Decision making for business model development : A process study of effectuation and causation in new technology-based ventures

    NARCIS (Netherlands)

    Reymen, Isabelle; Berends, Hans; Oudehand, Rob; Stultiëns, Rutger

    2017-01-01

    This study investigates the decision-making logics used by new ventures to develop their business models. In particular, they focussed on the logics of effectuation and causation and how their dynamics shape the development of business models over time. They found that the effectual decision-making

  9. Seeing What Sticks! Revenue Diversification and New Venturing in the Business Schools of the California State University

    Science.gov (United States)

    Oubre, Linda Seiffert

    2017-01-01

    With changing funding models and increased competition, academic institutions are increasingly looking for new ways to finance their missions. Business schools are turning to revenue diversification through new venturing to offset declining MBA enrollment, high business faculty salaries, and changes in accreditation standards that require more…

  10. Growing Women-Owned Businesses | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    This project will help women-owned businesses connect to global markets and enhance their growth prospects. WEConnect International, a leading international certification body for women's business enterprises, is leading the project. The organization connects women-owned businesses to large private companies' ...

  11. Uporaba poslovnega načrta v 500 najhitreje rastočih slovenskih podjetjih = The Use of a Business Plan in 500 Fastest Growing Slovenian Companies

    Directory of Open Access Journals (Sweden)

    Marjan Krajnik

    2007-09-01

    Full Text Available This article describes the role of a business plan in daily operations of a company. Several different authors from the entrepreneurship field have already stressed the importance of a business plan as a basic tool for an entrepreneur at the beginning of a new venture. There are various definitions of a business plan contents in the entrepreneurship professional literature. However, there is no feedback from the most dynamic part of Slovenian economy on the use of business plans in day-to-day business. That is why we have decided to empirically check some theoretical basics in the practice. We have also found out way in which fast growing Slovenian companies use business plans in new ventures planning. As it turned out we can truly determine a business plan as the basic enterprise/entrepreneur’s tool.

  12. 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.

  13. Foundation-industry relationships--a new business model joint-venture philanthropy in therapy development.

    Science.gov (United States)

    Bartek, Ronald J

    2014-01-01

    The business model for medical therapy development has changed drastically. Large companies that once conducted their own Research and Development (R&D) and funded all the preclinical studies, all phases of clinical development and marketing of the products are increasingly turning to others for more and more of the earlier work in hopes of being able to in-license a de-risked program well downstream, take it through the final phases of clinical development and into the marketplace. This new paradigm has required patient-advocacy foundations, especially in the rare-disease space, to become far more effective in building relationships with all the players along the therapy-development pathway -- academic scientists, government agencies, other foundations with overlapping interests, biotechs, small biopharmaceutical entities and even the larger industry companies. From the perspective of the patient-advocacy community, these increasingly essential public-private partnerships have taken on the nature of what could be called joint-venture philanthropy and involve a broad spectrum of collaborations and financial relationships between foundations and industry partners that are not without concerns about potential conflicts of interest.

  14. International Trade: A Small Business Primer. Growing Businesses.

    Science.gov (United States)

    Axtell, Roger E.

    The United States' declining share of world trade is connected with the fact that hundreds of thousands of medium- and small-sized businesses are ignoring trade and exports. The cure for their fear of the unknown is information and education. Exports have a number of advantages: increased profits, spread of overhead costs, smooth seasonal…

  15. Question and Answer Guide for Starting and Growing Your Small Business

    OpenAIRE

    Tate, Scott; Tyler-Mackey, Crystal

    2013-01-01

    This guide answers questions about starting and growing your small business including entrepreneurship, the business plan, legal structure and regulations, financing your business, business opportunities and types of business, and finally agencies and resources.

  16. 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

  17. 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

  18. A review of telemedicine business models.

    Science.gov (United States)

    Chen, Shengnan; Cheng, Alice; Mehta, Khanjan

    2013-04-01

    Telemedicine has become an increasingly popular option for long-distance/virtual medical care and education, but many telemedicine ventures fail to grow beyond the initial pilot stage. Studying the business models of successful telemedicine ventures can help develop business strategies for upcoming ventures. This article describes business models of eight telemedicine ventures from different regions of the world using Osterwalder's "Business Model Canvas." The ventures are chosen on the basis of their apparent success and their diverse value chains. The business models are compared to draw inferences and lessons regarding their business strategy and contextual factors that influenced it. Key differences between telemedicine business practices in developing and developed countries are also discussed. The purpose of this article is to inform and inspire the business strategy of the next generation of telemedicine ventures to be economically sustainable and to successfully address local healthcare challenges.

  19. Growing small youth businesses in Kenya | IDRC - International ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Youth make up a third of Kenya's population. Up to 35% of them are unemployed or work in informal micro-enterprises. Rachel Kalbfleisch, a 2016 IDRC Research Award recipient, wanted to know more about their ambitions and whether these youth planned to grow their businesses.

  20. Growing small youth businesses in Kenya | CRDI - Centre de ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Youth make up a third of Kenya's population. Up to 35% of them are unemployed or work in informal micro-enterprises. Rachel Kalbfleisch, a 2016 IDRC Research Award recipient, wanted to know more about their ambitions and whether these youth planned to grow their businesses.

  1. Guest Editorial: Business Models/Projects – Design, Venture, Manage and Evaluate

    OpenAIRE

    Rao, Narendar V.; Reddy, K.S.; Arrawatia, Rakesh

    2017-01-01

    A number of literature reviews on business models and innovation have suggested that business models are mainly rooted in resource-based view (RBV) and transaction cost economics (TCE) theories. Since business models is a burgeoning research field in strategic management, scholars have paid a great attention toward conceptualizing what business models are, how business models are evolved, and what theories explain business models. The special issue welcomed scholars to submit their academic r...

  2. Promoting Business and Entrepreneurial Awareness in Health Care Professionals: Lessons From Venture Capital Panels at Medicine 2.0 Conferences

    Science.gov (United States)

    Patel, Jigar; Eysenbach, Gunther

    2014-01-01

    There are few mechanisms that bring the academic and business worlds together in a way that would maximize the success of health technology (health tech) start-ups by increasing researchers’ knowledge about how to operate in the business world. Existing solutions (eg, technology transfer offices and dual degree MD/MBA programs) are often unavailable to researchers from outside the institution or to those who have already completed their primary education, such as practicing physicians. This paper explores current solutions and offers a partial solution: include venture capital (VC) panels in medical conferences. These VC panels educate academics on 2 important and interconnected issues: how to “pitch” their ideas in the business world and what to consider when creating a company. In these sessions, academia-based start-up companies present their ideas before a VC panel composed of professional investors and receive feedback on their idea, business plan, and presentation techniques. Recent panel recommendations from Medicine 2.0 conferences fell into 7 categories: (1) the product, service, or idea you are developing into a company, (2) determine market forces and identify the target audience, (3) describe your competitive advantage, (4) the business plan, (5) current and future resources and capabilities, (6) legal aspects, and (7) general advice on the art of pitching. The academic and business literature validates many of these recommendations suggesting that VC panels may be a viable and cost-effective introduction to business and entrepreneurial education for physicians and other health care professionals. Panels benefit not only the presenting companies, but also the physicians, psychologists, and other health care professionals attending the session. Incorporating VC panels into academic conferences might also illuminate the need for incorporating relevant business training within academia. PMID:25100579

  3. Promoting business and entrepreneurial awareness in health care professionals: lessons from venture capital panels at medicine 2.0 conferences.

    Science.gov (United States)

    Miron-Shatz, Talya; Shatz, Itamar; Becker, Stefan; Patel, Jigar; Eysenbach, Gunther

    2014-08-06

    There are few mechanisms that bring the academic and business worlds together in a way that would maximize the success of health technology (health tech) start-ups by increasing researchers' knowledge about how to operate in the business world. Existing solutions (eg, technology transfer offices and dual degree MD/MBA programs) are often unavailable to researchers from outside the institution or to those who have already completed their primary education, such as practicing physicians. This paper explores current solutions and offers a partial solution: include venture capital (VC) panels in medical conferences. These VC panels educate academics on 2 important and interconnected issues: how to "pitch" their ideas in the business world and what to consider when creating a company. In these sessions, academia-based start-up companies present their ideas before a VC panel composed of professional investors and receive feedback on their idea, business plan, and presentation techniques. Recent panel recommendations from Medicine 2.0 conferences fell into 7 categories: (1) the product, service, or idea you are developing into a company, (2) determine market forces and identify the target audience, (3) describe your competitive advantage, (4) the business plan, (5) current and future resources and capabilities, (6) legal aspects, and (7) general advice on the art of pitching. The academic and business literature validates many of these recommendations suggesting that VC panels may be a viable and cost-effective introduction to business and entrepreneurial education for physicians and other health care professionals. Panels benefit not only the presenting companies, but also the physicians, psychologists, and other health care professionals attending the session. Incorporating VC panels into academic conferences might also illuminate the need for incorporating relevant business training within academia.

  4. Managing Corporate Venturing: Multi-level Studies on Project Autonomy, Integration, Knowledge Relatedness, and Phases in the New Business Development Process

    NARCIS (Netherlands)

    J.H. Burgers (Henri)

    2008-01-01

    textabstractDeveloping new businesses is a critical factor for strategically renewing firms in today’s dynamic environments. Although autonomy has frequently been addressed as a major factor in successfully managing corporate ventures, several critical contingencies remain unexplored. The results of

  5. European business venturing in times of digitisation - An analysis of for-profit business incubators in a triple helix context

    DEFF Research Database (Denmark)

    Kreusel, Nico; Roth, Natalie; Brem, Alexander

    2018-01-01

    -dominated incubation landscape may influence established theoretical frameworks. Within this context, this paper analyses 11 German business incubators to look at the most common types of for-profit business incubators in Germany and their main characteristics. Moreover, it introduces classification criteria......Business incubators have been developed as a key component of entrepreneurial activities in countries all over Europe. These incubators have a non-profit or a for-profit profile, with one-third located in Germany. The increased engagement of private business in what was a public...... for these incubators. Another aspect of the analysis is the effect of the triple helix dimensions of the different incubation types. The results show that two additional types of incubators can be identified in addition to the traditional public business incubator model, namely 'company builders' and 'accelerators...

  6. Liability of newness: assessing couple social support when starting a new business venture.

    Science.gov (United States)

    Danes, Sharon M; Craft, Shonda M; Jang, Juyoung; Lee, Jinhee

    2013-10-01

    Study purpose was to investigate adapted social support instruments of nurturance and affiliation with male and female entrepreneurs and spouses starting a new business. Family Fundamental Interpersonal Relationship Orientation theory was the theoretical grounding. Business structure differed by entrepreneur gender in both direct and indirect spousal involvement. Both couple types were highly connected with their firms having high nurturance and affiliation scores. When couple discrepancies were compared, more male entrepreneur couples had shared meaning on business-oriented nurturance questions compared with female entrepreneur couples. The opposite was true for shared meaning on relationship-oriented nurturance. For all affiliation questions, more male entrepreneur couples had shared meaning than did female entrepreneur couples. Clinical applications of resulting instruments are discussed. © 2013 American Association for Marriage and Family Therapy.

  7. 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.

  8. Joint venture instability: a life cycle approach

    OpenAIRE

    Roy Chowdhury, Prabal; Roy Chowdhury, Indrani

    2001-01-01

    Joint ventures represent one of the most fascinating developments in international business. In the last few decades, the rate of joint venture formation has accelerated dramatically. Nowadays joint ventures are much more widespread and occur in industries like telecommunications, biotechnology etc. At the same time, however, it must be noted that joint ventures are very unstable. In this paper we survey the phenomenon of joint venture instability. We draw on the relative recent theoretical l...

  9. 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...

  10. Beyond effectuation: Analysing the transformation of business ideas into ventures using actor-network theory"

    DEFF Research Database (Denmark)

    Murdock, Karen; Varnes, Claus Juul

    2018-01-01

    as new humans or non-humans become part of it. Including a resource in the network means simultaneously changing the network. This interactionism shows that what sparks interest or attracts resources to a business idea is not simply an influx of additional resources but is simultaneously a dynamic......, affordable loss, and other key concepts from this theoretical perspective. Drawing upon actor-network theory (ANT), this study demonstrates how different framing and support devices implicate different human and non-human actors in changing interpositions within the entrepreneurial process. Design...... interviews. This design allows the authors to focus on how the project emerges and is continuously supported by allies but is sometimes not supported by various human and non-human actors. Findings This study demonstrates that the entrepreneurial project undertaken by the entrepreneurial network changes...

  11. Growing talent as if your business depended on it.

    Science.gov (United States)

    Cohn, Jeffrey M; Khurana, Rakesh; Reeves, Laura

    2005-10-01

    Traditionally, corporate boards have left leadership planning and development very much up to their CEOs and human resources departments-primarily because they don't perceive that a lack of leadership development in their companies poses the same kind of threat that accounting blunders or missed earnings do. That's a shortsighted view, the authors argue. Companies whose boards and senior executives fail to prioritize succession planning and leadership development end up experiencing a steady attrition in talent and becoming extremely vulnerable when they have to cope with inevitable upheavals- integrating an acquired company with a different operating style and culture, for instance, or reexamining basic operating assumptions when a competitor with a leaner cost structure emerges. Firms that haven't focused on their systems for building their bench strength will probably make wrong decisions in these situations. In this article, the authors explain what makes a successful leadership development program, based on their research over the past few years with companies in a range of industries. They describe how several forward-thinking companies (Tyson Foods, Starbucks, and Mellon Financial, in particular) are implementing smart, integrated, talent development initiatives. A leadership development program should not comprise stand-alone, ad hoc activities coordinated by the human resources department, the authors say. A company's leadership development processes should align with strategic priorities. From the board of directors on down, senior executives should be deeply involved in finding and growing talent, and line managers should be evaluated and promoted expressly for their contributions to the organization-wide effort. HR should be allowed to create development tools and facilitate their use, but the business units should take responsibility for development activities, and the board should ultimately oversee the whole system.

  12. Skills necessary to grow micro entrepreneurs into small business entrepreneurs

    OpenAIRE

    S. Perks; M. Struwig

    2014-01-01

    This article outlines a qualitative study that was undertaken to determine the necessary skills for growth of micro entrepreneurs to become small business entrepreneurs. Various interviews were conducted over time with micro entrepreneurs and small business entrepreneurs. The results of these interviews were analysed using the constant comparative method. Thirteen skills were identified as necessary for growth of micro entrepreneurs to become small business entrepreneurs. It was further concl...

  13. 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.

  14. Universities Venture into Venture Capitalism.

    Science.gov (United States)

    Desruisseaux, Paul

    2000-01-01

    Reports that some universities are starting their own venture-capital funds to develop campus companies, or are investing endowment funds with established venture-capital firms inclined to finance potential spinoffs from campus research. Examples cited are from the University of Alabama, Vanderbilt University (Tennessee), University of…

  15. Growing women-owned businesses in Latin America and the ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    The positive connection between women, their economic empowerment, the growth of economies, and communities' well-being is increasingly recognized ... It will also allow growth-oriented businesses to become certified and provide them with information and feedback regarding the national and global resources ...

  16. Innovative Management in Subcontracting Business in Growing and Stagnating Economies

    OpenAIRE

    Karl-Heinz SCHMIDT

    2010-01-01

    The worldwide economic recession demonstrates: innovations are needed to increase productivity and competitivity of enterprises, especially of subcontracting companies. The paper compares the subcontracting business at a boom- and recession-phase, mainly in Japan and Germany. For Japan the components of subcontracting systems are exposed by a static and dynamic view. Changes of subcontracting firms from dependent, but stable suppliers of parts and services to extremely dependent subcontractor...

  17. From Creativity to New Venture Creation: A Conceptual Model of Training for Original and Useful Business Modelling

    DEFF Research Database (Denmark)

    Lund, Morten; Byrge, Christian; Nielsen, Christian

    2017-01-01

    the probability of a successful process leading to original and useful business models. These skill variables are related to the start-up process and to any processes aimed at rethinking or improving existing business models. The notions and potential effects of each focus, creativity and business modeling......This paper explores the processes of creating new companies with original and useful business models from a conceptual perspective. Based on data from large-scale creativity training programs and business model development studies in Denmark encompassing over 100 companies and 200 entrepreneurs...

  18. Corporate Venturing

    DEFF Research Database (Denmark)

    Vintergaard, Christian

    involved in recognition and discovery. Consequently thepaper offers insight to a diversified group of actors who mix and match technological and marketcapabilities in a constant process of recognition and discovery.Key words: Corporate venturing, entrepreneurship, discovery, networks, opportunities,recognition.......From the perspective of Austrian economics, this paper develops a conceptual understanding ofhow corporate venture managers recognize and discover opportunities in a network environment.In an effort to create a better understanding of who is involved in process, this paper reports onthe development...... 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...

  19. 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)

  20. Growing Local Value How to Build Business Partnerships That Strengthen Your Community

    CERN Document Server

    Hammel, Laury

    2007-01-01

    Hanna Andersson founder Gun Denhart and successful entrepreneur Laury Hammel show how every aspect of a business (from product creation to employee recruitment to vendor selection) holds the dual promise of bigger profits and a stronger local community. With practical tools and real-life examples of the best practitioners and techniques of values-driven business, "Growing Local Value" provides a framework for the full spectrum of ways in which a business can contribute to its community - and the benefits a company receives when it does so.

  1. Instructional Ventures

    Directory of Open Access Journals (Sweden)

    Robert Prus

    2015-04-01

    Full Text Available Beyond promoting a mode of ethnographic inquiry that is conceptually informed and rigorously attentive to the actualities of human lived experience, this article encourages a more sustained, comparative analysis of the ways that administrators and instructors deal with education as a collectively developed venture. After (a establishing an analytic frame for a more comprehensive approach to education as a socially engaged process, this article focuses on (b the administration of educational programs and (c providing instruction as activity “in the making,” using an ethnographic study of two Protestant Christian seminaries as an empirical, illustrative case. While providing an agenda for examining the ways that people generate and sustain instructional ventures in any educational context, the material presented here also represents an important focal point for theoretically, conceptually, and methodologically integrating research that attends to the ways that instructional (administrative and teaching activities are accomplished in practice.

  2. Resources for startup and growing businesses in the science and engineering sectors

    Science.gov (United States)

    Sabol, Joseph

    2013-03-01

    The American Chemical Society provides resources for members involved in forming startup and growing small businesses in the chemical and related sectors. In particular, the ACS Division of Small Chemical Businesses SCHB provides member benefits, informative programming at national and regional meetings, and networking opportunities for entrepreneurs. SCHB member benefits include listing in a directory of members' products and services, discounted expo booth rental at ACS national meetings, sponsorship to attend ACS leadership development courses, volunteer opportunities to shape and direct SCHB's operations, multiple social networking platforms, and professional networking opportunities with like-minded and similarly situated small business principals. SCHB's mission is ``To aid in the formation, development and growth of small chemical businesses.'' SCHB collaborates with other units in ACS, including local sections, the Chemical Entrepreneurship Council, the Division of Business Development & Management, Entrepreneurial Initiative, and Career Services. SCHB helps chemists gain skills to translate research into commercially successful products; build strong, growing companies that create jobs; and collaborate with professionals outside the chemical community. American Chemical Society, Division of Small Chemical Businesses

  3. The Aesthetics of Association: Business, Education, and the Growing Discourse of Corporate Social Responsibility

    Science.gov (United States)

    Manteaw, Bob Offei

    2009-01-01

    The last few decades have seen an unprecedented transformation in business involvement in education, particularly in Western industrialized societies where privatization, commercialization and neo-liberal discourses continue to dominate educational thinking and practice. This paper foregrounds the growing perception of math and science as…

  4. On Their Own: The Meaning of Change Experienced by Female Entrepreneurs as They Initiate New Business Ventures.

    Science.gov (United States)

    Coyle, H. Elizabeth; Ellinger, Andrea

    2003-01-01

    Cases of four female entrepreneurs produced seven themes related to the meaning of change resulting from business start-up: definition of the transition experience within a connected self, precursors and readiness, support of informal networks, traits, risk-taking behaviors, motivations, and decision making. The results imply that entrepreneurship…

  5. From Creativity to New Venture Creation: Exploring the potentials of training creativity and business-opportunity spotting

    DEFF Research Database (Denmark)

    Nielsen, Christian; Byrge, Christian; Lund, Morten

    2016-01-01

    creativity training, as well as a software-based framework for identifying useful business model configurations. The notion and potential effect of each program as separate tools is discussed, followed by a more in-depth discussion of the interrelationships between creative processes, opportunity spotting...

  6. Analysis of Joint Ventures Financial State

    Directory of Open Access Journals (Sweden)

    Alla V. Dmitrenko

    2013-01-01

    Full Text Available The article describes the basic techniques for the analysis of businesses financial state and methods that were adapted for the joint ventures activities, analyses joint venture financial state, makes conclusions and submits reasonable proposals for improvement of its future activities

  7. 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…

  8. 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...

  9. Broadview Ventures

    Directory of Open Access Journals (Sweden)

    Christopher Colecchi, BA, MPH

    2016-01-01

    Full Text Available Translational investigators and companies face a challenging economic environment when seeking funds to move pre-clinical stage research into human testing and beyond. Specifically, funding for cardiovascular research and product development is difficult to secure, whether from the NIH, venture capitalists, or industry. But new funding models for advancing patient-oriented science to the commercial sector are emerging. Boston-based Broadview Ventures, created by the Leducq Family Trust, promotes the development of technology for the diagnosis and treatment of cardiovascular disease and stroke through direct equity-based investments. It targets early stage companies seeking to fund proof-of-concept for technologies that hold promise as future breakthroughs for patient care. With 27 such investments over the last seven years, Broadview has considerable experience in the seed/early-stage space, and its investment model is demonstrating early signs of success. Broadview actively seeks collaborations with world-class translational investigators, inventors, and their companies, and welcomes scientific inquiries, discussion and proposals for funding.

  10. 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...

  11. Venture capitalists home in on healthcare.

    Science.gov (United States)

    Lutz, S

    1992-03-09

    Gamblers known as venture capitalists, who once piled their chips on electronics and computer software, are now turning to fast-growing medical companies for a return. And they're not just playing hunches with biotechnology or other glitzy start-ups. Recent investments include rehabilitation, hospital management and emergency department ventures in addition to medical device development.

  12. A survey of venture capital research

    NARCIS (Netherlands)

    Hellmann, T.; Puri, M.L.; Da Rin, M.; Constantinides, G.; Harris, M.; Stulz, R.

    2013-01-01

    This survey reviews the growing body of academic work on venture capital. It lays out the major data sources used. It examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment services and exits. The survey considers recent work on

  13. A Survey of Venture Capital Research

    NARCIS (Netherlands)

    Da Rin, M.; Hellmann, T.; Puri, M.L.

    2011-01-01

    This survey reviews the growing body of academic work on venture capital. It lays out the major data sources used. It examines the work on venture capital investments in companies, looking at issues of selection, contracting, post-investment services and exits. The survey considers recent work on

  14. 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

  15. Financial intermediaries, ownership structure and the provision of venture capital to SMEs: Evidence from Japan

    NARCIS (Netherlands)

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

    2008-01-01

    This paper examines how the provision of venture capital to small- and medium-sized businesses (SMEs) is influenced by the ownership structure of the venture capital provider. We introduce a new and unique dataset from the Japanese venture capital market, comprising data on investment and venture

  16. How to establish and sustain a joint venture in China.

    Science.gov (United States)

    Lee, Paul

    2008-01-01

    Joint ventures with Chinese companies provide one of the most effective ways for international companies to establish a foothold in the booming Chinese economy. The benefits, opportunities and challenges of establishing a joint venture are explored here. Current partnering trends and successful Sino-foreign joint ventures in the fast-growing medical device industry in China are also highlighted.

  17. 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.

  18. 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...

  19. 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 contr...

  20. 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

  1. Innovation, Learning, and Synergy Between Entrepreneurs and Venture Capitalists

    OpenAIRE

    Ron Berger; Moti Zviling

    2013-01-01

    Uncertainty and complexity are fundamental to innovation and decision making, especially in global high technology industries. Entrepreneurs interact with venture capitalists through the entrepreneurs’ communication and learning about the potential of new business venture. We believe that uncertainty and complexity are fundamental to the process of innovation through the synergy between entrepreneurs and venture capitalists. The purpose of this conceptual paper is to provide a conceptual synt...

  2. Venture Growth - New Findings From a Multilevel Perspective - Introduction to the Focus Issue on Growth

    NARCIS (Netherlands)

    Harms, Rainer; Scillitoe, Joanne L.

    2010-01-01

    New venture growth is an important research topic. Past research suggests that growing young ventures play a critical role in local, regional and national economies through the creation of jobs, the generation of profits and the development of innovations. Questions regarding how ventures grow,

  3. Stress and Violence in the Workplace and on Campus: A Growing Problem for Business, Industry and Academia

    Science.gov (United States)

    Hunt, Matthew L.; Hughey, Aaron W.; Burke, Monica G.

    2012-01-01

    Levels of stress and violence at work have been increasing globally for the past few decades. Whether the setting is business and industry or a college campus, this disturbing trend affects a growing number of people, including those who do not work directly in these environments. In this paper the authors describe the relationship between stress…

  4. From Creativity to New Venture Creation

    DEFF Research Database (Denmark)

    Lund, Morten; Byrge, Christian; Nielsen, Christian

    2017-01-01

    , are discussed, followed by a more in-depth discussion of the interrelationships between the creative process and the business modeling process. The implications of the paper are discussed in terms of a combined study module aimed at new venture creation students and pupils within higher education as well...

  5. Business plan competition

    CERN Multimedia

    2007-01-01

    "Venture – Companies for tomorrow" is a business plan competition, which supports students and other junior entrepreneurs in developing their business plans. The sixth edition of the competition is now taking place. Venture 2008 highlights: - prize money totalling CHF 150’000; - possibility to optimize business ideas and business plans with the help of experienced coaches: around 200 coaches are available, with a wide range of backgrounds, entrepreneurs as well as venture capitalists; -\tpossibility to present business ideas and business plans to potential investors ("Investor Days" - 17 January and 7 May); - active involvement in the start-up community; -\tcontribution to potential independence. The competition consists of two phases: Phase I, Business idea, Deadline for submission of business idea: 5 December 2007 (online at http://www.venture.ch). Award Ceremony: 17 January 2008 Phase II, Business plan Deadline for submission of business plan: 2 April 2008 (online at...

  6. The Use of Personality and the Five-Factor Model to Predict New Business Ventures from Outplacement to Start-up.

    Science.gov (United States)

    Wooten, Kevin C.; Timmerman, Thomas A.; Folger, Robert

    1999-01-01

    Personality traits of 145 downsized executives receiving outplacement services were examined using the 16 Personality Factor Questionnaire. The 51 who started new businesses were more likely to be emotionally stable, tough minded (less open to experience), and expedient (realistic). (SK)

  7. Open services innovation: rethinking your business to grow and compete in a new era

    National Research Council Canada - National Science Library

    Chesbrough, Henry William

    2011-01-01

    ... ideas to be taken to market by others externally. Chesbrough's forthcoming Open Services Innovation demonstrates how the open innovation approach applies to companies both in the service businesses and those that want to be there...

  8. 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.

  9. The domestic turn : business processing outsourcing and the growing automation of Kenyan organisations

    NARCIS (Netherlands)

    Mann, L.E.; Graham, M.

    2015-01-01

    After observing the growth of the Indian and Filipino Business Processing Outsourcing sectors, Kenyan policy-makers and managers made substantial investments in international internet infrastructure and BPO marketing campaigns. While observers continue to discuss the sector in terms of its

  10. 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.

  11. 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.

  12. From Farming to International Business: The Social Auspices of Entrepreneurship in a Growing Economy

    OpenAIRE

    Kaivan Munshi

    2007-01-01

    Entrepreneurship has been traditionally concentrated in the hands of a few small communities in most developing economies. As these economies restructure, it is evident that these communities will be unable to satisfy the increased demand for new entrepreneurs. The analysis in this paper suggests that new business networks will compensate for the weak family background of first-generation entrepreneurs under some circumstances, supporting occupational mobility even in industries with signific...

  13. 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.

  14. The rise and decay of new high-technology ventures

    DEFF Research Database (Denmark)

    Turcan, Romeo V.; Busuncian, Elena

    This study is positioned at the intersection of legitimation and entrepreneurship theories with the aim to uncover the relationship between the process of legitimation and the process of emergence and discontinuous of a new venture. From the legitimation theory perspective, the paper is trying...... strategies. From the entrepreneurship theory perspective, the paper aims to explore the process of emergence (identification/creation of new business opportunity and its pursuit) of the new venture, and uncover the relationship between the legitimation of new technology and the new venture on one hand...

  15. From Creativity to New Venture Creation

    DEFF Research Database (Denmark)

    Lund, Morten; Byrge, Christian; Nielsen, Christian

    2017-01-01

    , are discussed, followed by a more in-depth discussion of the interrelationships between the creative process and the business modeling process. The implications of the paper are discussed in terms of a combined study module aimed at new venture creation students and pupils within higher education as well......This paper explores the processes of creating new companies with original and useful business models from a conceptual perspective. Based on data from large-scale creativity training programs and business model development studies in Denmark encompassing over 100 companies and 200 entrepreneurs......, the key proposition of the paper is that entrepreneurs can enhance their development processes through training of their competences in creativity and in business modeling. The paper presents a set of key skill variables of creativity and of business modeling that need to be trained in order to enhance...

  16. 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)

  17. From Creativity to New Venture Creation

    DEFF Research Database (Denmark)

    Nielsen, Christian; Byrge, Christian; Lund, Morten

    2016-01-01

    creativity training, as well as a software-based framework for identifying useful business model configurations. The notion and potential effect of each program as separate tools is discussed, followed by a more in-depth discussion of the interrelationships between creative processes, opportunity spotting...... and the choice of business model configurations. The implications of the paper are discussed in terms of a research program under establishment as well as a combined teaching module aimed at new venture creation students within higher-education, high schools and primary school levels.......This paper explores the processes of creating new companies with original and useful business models from a conceptual perspective. Based on data from large-scale creativity training programs and business model development studies in Denmark encompassing over 100 companies and 200 entrepreneurs...

  18. 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....... In addition to providing equity finance, venture capitalists assist with valuable business advice to enhance survival rates. Within a general equilibrium framework with a traditional and an entrepreneurial sector, the paper investigates the effects of taxes on the equilibrium level of entrepreneurship...... and managerial advice. It considers differential wage and capital income taxes, a comprehensive income tax, incomplete loss offset, progressive taxation as well as investment and output subsidies to the entrepreneurial sector...

  19. Fortification of New Venture Branding through Brand Image and Brand Identity : An exploratory study to shed new light on branding for new venture entrepreneurs

    OpenAIRE

    Bjur, Elin; Christo-Dionne, Dimitri

    2016-01-01

    Introduction Entrepreneurs embarking upon a new business venture have a vast amount of responsibilities to consider during the new venture phase, therefore strategically taking action to gain a competitive advantage in the marketplace is a necessity. While there exist many routes towards acquiring an edge over the competition, branding proves to be a highly effective and influential strategy. As entrepreneurs are left to their own business development devise, there is no one approach towards ...

  20. HIMSS Venture+ Forum and HX360 Provide Industry View of Health Technology Innovation, Startup and Investment Activity; Advancing the New Model of Care.

    Science.gov (United States)

    Burde, Howard A; Scarfo, Richard

    2015-01-01

    Presented by HIMSS, the Venture+ Forum program and pitch competition provides a 360-degree view on health technology investing and today's top innovative companies. It features exciting 3-minute pitch presentations from emerging and growth-stage companies, investor panels and a networking reception. Recent Venture+ Forum winners include TowerView Health, Prima-Temp, ActuaiMeds and M3 Clinician. As an industry catalyst for health IT innovation and business-building resource for growing companies and emerging technology solutions, HIMSS has co-developed with A VIA, a new initiative that addresses how emerging technologies, health system business model changes and investment will transform the delivery of care. HX360 engages senior healthcare leaders, innovation teams, investors and entrepreneurs around the vision of transforming healthcare delivery by leveraging technology, process and structure.

  1. Challenges in Bootstrapping a Start-Up Venture: Keenga Research Turning the Tables on Venture Capitalists

    Directory of Open Access Journals (Sweden)

    Prescott C. Ensign

    2016-01-01

    Full Text Available This case study chronicles the timeline of a new venture – Keenga Research. Keenga Research has a novel proposition that it is seeking to introduce to the market. The business concept is to ask entrepreneurs to review the venture capital (VC firm that funded them. Reviews of VC firms would then be developed and marketed to those interested (funds and perhaps enterprises seeking funding. What makes this case unique is that Keenga Research was a lean start-up. Bootstrapping is a situation in which the entrepreneur chooses to fund the venture with his/her own personal resources. It involves self-funding (family and friends, tight monitoring of expenses, and maintaining control of ownership and management (Winborg & Landstrom 2001; Perry, Chandler, Yao, & Wolff, 2011; Winborg, 2015. The lean start-up approach favors experimentation over elaborate planning, customer feedback over intuition and iterative design over traditional big upfront research and development. This case study requires the reader to consider a number of the basic challenges facing all entrepreneurs and new ventures. Is the concept marketable? Can the concept be developed and brought to market in a timely manner? Will the product generate revenue? How? When? What are the commitments of the entrepreneurs? Have they considered the major challenges to be faced? Since this venture involved gathering and developing research information and then creating an online platform, Keenga Research faced significant concept-to-market challenges. The research method used in this case study is first person participant observation and interviews. One of the authors was a team member so the contextual details come from direct observation and first-hand knowledge. This method of research is often used in anthropology, sociology, and social psychology where an investigator studies the group by sharing in its activities. The other author provided an objective and conceptual perspective for analyzing

  2. 13 CFR 127.506 - May a joint venture submit an offer on an EDWOSB or WOSB requirement?

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false May a joint venture submit an offer on an EDWOSB or WOSB requirement? 127.506 Section 127.506 Business Credit and Assistance SMALL... project manager responsible for the performance of the contract; (d) The joint venture must perform the...

  3. 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.

  4. 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…

  5. 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.

  6. Venture Capital Funds: Theoretical Aspects

    OpenAIRE

    Jurevičienė, Daiva; Martinkutė, Aistė

    2013-01-01

    The article deals with the form of corporate financing, which is becoming more popular yet is still underused, i.e. venture capital funds as well as their peculiarities and the procedure for attracting investments into a company. The paper summarises the main advantages and disadvantages of venture capital funds as well as their relation with national economic development. It analyses venture capital funds operating in Lithuania, investment strategies and dynamics. Additionally, it overviews ...

  7. 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…

  8. 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.

  9. 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.

  10. 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

  11. 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.

  12. Innovation and venture capital exits

    NARCIS (Netherlands)

    Schwienbacher, A.

    2008-01-01

    This article analyses how start-ups financed by venture capital choose their innovation strategy based on the investor's exit preferences and thereby form different outcomes in the product market. It considers innovation choices and venture capital exits (IPO vs trade sale) in a setting in which

  13. 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

  14. Internationalization of Family Businesses

    DEFF Research Database (Denmark)

    Boyd, Britta; Hollensen, Svend; Goto, Toshio

    2010-01-01

    This article focuses on the international joint venture formation process of family businesses. The reasoning behind Danfoss’ decision to cooperate with two competing family businesses in Japan and China as well as two nonfamily businesses in Canada and Britain will be analysed. In-depth qualitat...

  15. 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...

  16. US Joint Ventures 2014 revision

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — A joint venture is a self-directed partnership of agencies, organizations, corporations, tribes, or individuals that has formally accepted the responsibility of...

  17. 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).

  18. A lunar venture

    Science.gov (United States)

    Lee, Joo Ahn; Trinh, Lu X.

    1989-01-01

    As the Earth's space station is in its final stages of design, the dream of a permanent manned space facility is now a reality. Despite this monumental achievement, however, man's quest to extend human habitation further out into space is far from being realized. The next logical step in space exploration must be the construction of a permanent lunar base. This lunar infrastucture can, in turn, be used as a staging ground for further exploration of the remote regions of the solar system. As outlined by the National Aeronautics and Space Administration, the lunar base program consists of three exploratory and implementation phases. In response to the technological and facility requirements of Phase 1 and 2 of this program, the Aerospace Vehicle Design Program of the University of Virgina (UVA) is proud to present a preliminary design for such a lunar infrastructure. This study is a comprehensive evaluation of the mission requirements as well as the design criteria for space vehicles and facilities. The UVA Lunar Venture is a dual system that consists of a lunar space station and a fleet of lunar landers/transporters. With such a design, it is demonstrated that all initial exploratory and construction requirements for the lunar base can be efficiently satisfied. Additionally, the need for such a dual system is justified both from a logistic and economic standpoint.

  19. Hoechst and Wacker plan joint venture in PVC

    Energy Technology Data Exchange (ETDEWEB)

    Young, I.

    1992-12-02

    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 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.

  20. 7 CFR 4290.320 - Contents of comprehensive business plan.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Contents of comprehensive business plan. 4290.320... comprehensive business plan. (a) Plan for Developmental Venture Capital investing. The Applicant must describe... of the Applicant's business plan. ...

  1. 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.

  2. 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.

  3. 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

  4. 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.

  5. Building business from technology: The Sandia experience

    Energy Technology Data Exchange (ETDEWEB)

    Traylor, L.B.

    1995-07-01

    This paper describes New Ventures, a new initiative at Sandia National Laboratories that encourages the creation of new businesses based on laboratory technology as a timely, efficient means of technology transfer. Sandia`s New Ventures program has shown that a dedicated effort can produce significant results. In the three years prior to this program`s launch, just two ventures per year on average were created based on laboratory technology. By comparison, the New Ventures program has enabled 20 new ventures in its first nine months of full operation.

  6. Business venture-analysis case study relating to the manufacture of gas turbines for the generation of utility electric power. Volume II. Private sector and public sector venture studies. Final report. [Use of coal gasifier with combined gas and steam system

    Energy Technology Data Exchange (ETDEWEB)

    Davison, W.R.

    1978-05-05

    Increasing national attention is being directed toward the search for clean, efficient, and reliable energy-conversion systems, capable of using abundant indigenous fuels such as coal, for generation of utility electric power. A prime candidate in this area is the combined gas and steam (COGAS) system employing a high-temperature gas turbine with a steam-turbine bottoming cycle, fed by a coal gasifier. This program demonstrates the use of a logical and consistent venture-analysis methodology which could also be applied to investigate other high-technology, energy-conversion systems that have yet to reach a state of commercialization but which are of significant interest to the U.S. Government. The venture analysis was performed by using a computer to model the development, production, sales, and in-service development phases of programs necessary to introduce new gas turbines in COGAS systems. The simulations were produced in terms of estimated cash flows, rates of returns, and risks which a manufacturer would experience. Similar simulations were used to estimate public-sector benefits resulting from the lower cost of power and improved environment gained from the use of COGAS systems rather than conventional systems. The study shows that substantial social benefits could be realized and private investment would be made by the gas-turbine manufacturers if an infusion of external funds were made during key portions of the gas-turbine development program. It is shown that there is substantial precedent for such public assistance to make possible economic and environmental benefits that otherwise would not be possible. 42 references.

  7. 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.

  8. 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.

  9. >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.

  10. Pharmaceutical technology management--profitable business avenue.

    Science.gov (United States)

    Puthli, Shivanand P

    2010-01-01

    Growing research expenditure, regulatory framework and generic erosion have forced pharmaceutical companies globally to resort to pharmaceutical technology management (PTM). Indeed, the pharmaceutical industry has witnessed the impact of innovative drug delivery and device technologies and their influence on business. PTM has given a new business insight with greater profits and enhancement of product franchise. Promising breakthrough technologies have not been able to reach a commercial platform largely owing to lack of capital at the preliminary stages of the product development program. Intellectual property plays a considerable role in protecting innovative technologies. Joint ventures and strategic alliances also become important for commercializing a new technology. The synergy of PTM with options of in-licensing is expected to infuse newer opportunities to the pharmaceutical business.

  11. 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.

  12. Public Policy, Venture Capital and Entrepreneurial Finance

    OpenAIRE

    Keuschnigg, Christian

    2010-01-01

    Venture capital has become an important source of financing young entrepreneurial firms. Venture capital backed firms are often perceived as more innovative and as creating more value than others. Perhaps for this reason, policy makers are keen to create a good institutional framework to facilitate the development of an active venture capital industry. We explore the role of tax policy in determining the incentives of individuals to start up new firms and of venture capitalists to finance and...

  13. Tax Policy for Venture Capital Backed Entrepreneurship

    OpenAIRE

    Christian Keuschnigg

    2008-01-01

    Venture capital has become an important source of financing young entrepreneurial firms. Venture capital backed firms are often perceived as more innovative and as creating more value than others. Perhaps for this reason, policy makers are keen to create a good institutional framework to facilitate the development of an active venture capital industry. We explore the role of tax policy in determining the incentives of individuals to start up new firms and of venture capitalists to finance and...

  14. 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...

  15. Exit strategies for social venture entrepreneurs

    NARCIS (Netherlands)

    Nuer, A.T.K.

    2015-01-01

    Key Words:  Social Venture Entrepreneurs, Exit, Ownership Social Venture Entrepreneurs invest in local and mostly bottom of pyramid (BoPs), and more so in developing economies. Different understanding  and meanings given to the term  exit and ownership, by social venture entrepreneurs

  16. An Ambition to Grow

    OpenAIRE

    Ron Kemp; Hakkert, R.

    2006-01-01

    This report tries to gain insight in the willingness or ambition to grow of a small business owner. The main question of this report is therefore: Which factors influence the ambition to grow a business? To examine the ambition to grow an economic and a psychological perspective is given in this study.

  17. FUNCTIONS OF SOCIAL RELATIONSHIPS IN THE ORGANIZING OF AN INTERNATIONAL JOINT VENTURE

    Directory of Open Access Journals (Sweden)

    Daniel Serafim BROTEA

    2009-12-01

    Full Text Available This paper examines the use of social relationships in the organizing of a business network in the case of an international joint venture (IJV developing over time. The organizing process and the multicultural setting of the international joint venture emphasize the actions of and interactions between individuals from various organizations. The IJV-managers' use of their social relationships in business organizing is explored through analysis of narratives of IJVmanagers in a longitudinal single case to provide empirically grounded theory. From the in-depth interviews with IJV-managers the business relationships are identified as characterized by four possible levels of interpersonal relationships whose type influences the functions of the relationships and visa versa. One business relationship may contain only one or many of these interpersonal levels and an effective business relationship contains the appropriate interpersonal level for the business issue at hand.

  18. Business development - the function, research propositions, and managerial implications

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe

    and executives from high-tech firms and venture capitalists in North America, Asia, and Europe to provide a foundation for future research. Business development is an emerging staff function providing an added level of sophistication to the firms' overall strategic management with interesting performance......  The management literature reflects remarkable little effort to investigate the nature and consequences of firms' business development activities. This exploratory research aims at synthesizing the scholarly knowledge on the subject with field interviews with senior business developers...... implications. The business development function is typically found in progressive firms especially within high-tech industries, but is argued to become critical for all types of firms across industries wishing to grow and accumulate wealth. Research propositions and managerial implications are discussed....

  19. 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.

  20. 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.

  1. Making sense of corporate venture capital.

    Science.gov (United States)

    Chesbrough, Henry W

    2002-03-01

    Large companies have long sensed the potential value of investing in external start-ups, but more often than not, they fail to get it right. Remember the dash to invest in new ventures in the late 1990s and the hasty retreat when the economy turned? This article presents a framework that will help a company decide whether it should invest in a particular start-up by first understanding what kind of benefit might be realized from the investment. The framework--illustrated with examples from Intel, Lucent, and others--explains why certain types of corporate VC investments proliferate only when financial returns are high, why other types persist in good times and in bad, and why still others make little sense in any phase of the business cycle. The framework describes four types of corporate VC investments, each defined by its primary goal--strategic and financial--and by the degree of operational linkage between the start-up and the investing company. Driving investments are characterized by a strong strategic rationale and tight operational links. Enabling investments are also made primarily for strategic reasons, but the operational links are loose. Emergent investments, which are characterized by tight operational links, have little current--but significant potential--strategic value. Passive investments, offering few potential strategic benefits and only loose operational links, are made primarily for financial reasons. Passive corporate VC investments dry up in a down economy, but enabling and driving investments usually have more staying power. That's because their potential returns are primarily strategic, not financial. In other words, they can foster business growth. Emergent investments may make sense even in a weak market because of their potential strategic value--that is, their ability to help companies identify and spark the growth of future businesses.

  2. Restructuring health care through nursing and business acumen.

    Science.gov (United States)

    Goodroe, J H

    1998-03-01

    This nurse entrepreneur owns two companies that help others restructure health care processes. Utilizing knowledge from her managerial and business background, as well as clinical innovations in cardiovascular disease, set the stage for this author's successful business ventures.

  3. New venture creation as emerging interdependencies

    DEFF Research Database (Denmark)

    van Oorschot, Robin; Gottlieb, Frederik

    2015-01-01

    What is ‘it’ which actually takes place in the process of the creation of a new venture? Traditional research would focus on the creation of ‘the product’ or the venture. In this paper, we focus on the creation of ‘new meaning’ and emerging interdependencies between people in the process of new...... venture creation. Taking on an auto- ethnographic approach we co-construct, describe and analyse two narratives which on different levels, explore the notion of interdependency emerging in the process of creating a new venture. In our narrative approach we channel our new venture creation research...... 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...

  4. 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....

  5. Adding value to corporate ventures through governance

    DEFF Research Database (Denmark)

    Skat-Rørdam, Peter

    2005-01-01

    This working paper examines the governance of corporate ventures based upon a qualitative interview based case study of a European industrial conglomerate. The purpose is to explore the value adding mechanisms of governance, that are considered more critical to the success of corporate ventures...... than the control mechanisms widely explored in connection with the governance of large public corporations. The paper provides examples of how value can be added as well as perspectives on the challenges and effectivenes here-off as evaluated by venture CEO's and venture board members...

  6. 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.

  7. 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

  8. Venture Capitalist Enabled Entrepreneurial Mentoring

    DEFF Research Database (Denmark)

    Agrawal, Anirudh

    2018-01-01

    -up entrepreneur. Using some interviews and secondary data from three Indian VC firms, this chapter explores the VC and investee enterprise mentoring within the Indian start-up ecosystem, The data analysis suggests that factors for the best outcomes include VCs that are highly networked‚ intensively sector focused......, have entrepreneurs as investors, and that engage frequently with investees over managerial and market issues. Using these cases, this study proposes an antecedent‚ action and outcome model of venture capital enabled entrepreneurial mentoring in India. This model can be expanded in the global context....

  9. Venture Capitalists’ Investment Selection Criteria in CEE Countries and Russia

    Directory of Open Access Journals (Sweden)

    Marek Zinecker

    2015-03-01

    Full Text Available This article deals with findings of a survey in the Central and Eastern European (CEE and Russian venture capital markets. The main aim of this study is to explore the following issues: Which criteria play an essential role in the selection of business proposals by firms investing venture capital in the CEE and Russian markets? What are the key characteristics of an investment selection process? And, in addition: Who are the investors in these markets? The nature of this study is explorative. It relies on primary data that were collected using a semi-structured questionnaire. The data were processed by statistical methods reflecting their nature and quantity. Descriptive methods served as basic statistical analyses. The survey results, which provide a number of unique insights into the field, are subsequently compared with findings which were published in similar studies undertaken in well-developed capital markets. This study supports the thesis that, when considering business proposals, above-average attention has been paid to criteria concerning the competitive advantage of the product and its potential to generate high returns. Our survey also confirms conclusions drawn from other studies which identify the size of the market and its growth rate as the most significant criteria characterizing the market. The crucial criterion in the category dedicated to management’s experience in the initial stage of the business life cycle is the management’s familiarity with the target market although investors emphasize its lower significance compared to the product and market characteristics. By publishing empirical data, an important signal regarding up-to-date evaluative criteria and their weight is sent both to prospective venture capitalists and investee companies operating under specific conditions of the CEE countries and Russia.

  10. Business Education for Women Entrepreneurs.

    Science.gov (United States)

    Kent, Calvin

    1983-01-01

    Summarizes the importance of entrepreneurship to the American economy, presents a profile of women small business owners, reviews the research pertaining to business education for women entrepreneurs, and indicates an agenda directed toward the educational needs of women venture initiators. (NRJ)

  11. Scary Business

    DEFF Research Database (Denmark)

    Platts, Todd; Clasen, Mathias

    2017-01-01

    Despite horror films representing business ventures intended to turn profit, box office analyses of the genre have remained rare in scholarly literature. Our study fills that gap through an examination of 117 horror films that reached the top 100 in domestic grosses in the North American film...... statistical approach, we identify a strong presence of supernatural horror films in the period under discussion as well as a relatively weak presence of zombie, vampire, and torture porn films. We argue that supernatural horror films have dominated the top-grossing films in the timeframe because such films...

  12. 13 CFR 108.10 - Description of the New Markets Venture Capital Program.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Description of the New Markets... ADMINISTRATION NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM Introduction to Part 108 § 108.10 Description of the... wealth and job opportunities in low-income geographic areas and among individuals living in such areas...

  13. 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…

  14. 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.

  15. 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

  16. 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)

  17. 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...

  18. 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.

  19. 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.

  20. INTERACTION OF UNIVERSITIES AND VENTURE COMPANIES TO PROVIDE EMPLOYMENT AND DEVELOPMENT OF LABOR RELATIONS

    Directory of Open Access Journals (Sweden)

    A. S. Senin

    2016-01-01

    Full Text Available The current economic situation is a consequence of the low innovation activity of the real sector. To go to a new quality of the national economy requires the development of venture business segment. However, along with the problem of lack of investment, this segment was faced with staffi ng problems, the solution of which requires a non-trivial approaches.This article outlines the main aspects of cooperation between higher education institutions and ventures to address staffing issues in the past and generally – in order to ensure the normal employment (through the creation of new high-tech jobs and the promotion of labor relations in the national economy. In this article the basic scheme, to extend the functions of venture capital funds, which will not only provide funding for innovative projects, but also to coordinate the cooperation of universities and venture companies in the staffing of the past.The purpose / goal. The main purpose of this article is to identify ways to improve staffing activities of venture companies by finding new forms of cooperation between enterprises, research and education sector and institutions of venture capital financing.Methodology. This article used the methods of economic-statistical and comparative analysis and synthesis of scientific solutions of direct practical application.Conclusions / relevance. The practical significance of the results is to develop the basic scheme of trilateral cooperation between higher education institutions, venture capital companies and venture capital funds in order to provide innovative projects need not only financial, but also human resources.

  1. THE ROLE OF VENTURE CAPITAL IN THE BRIDGING OF FUNDING GAPS – A REAL OPTIONS REASONING

    Directory of Open Access Journals (Sweden)

    Fazekas Balazs

    2015-07-01

    Full Text Available Funding gaps occur when for a particular group of enterprises there are not enough available funds to finance their growth. Such enterprises are typically young, innovative and technology-oriented startup companies. These companies do not have significant revenues or collaterals; hence they are not suitable for bank financing. On the other hand the information problems decrease their chances to attract investors and also there is high uncertainty involved in these companies. The method of venture capital financing was established to operate in this financing gap and to provide funds for these technology-oriented, young startup enterprises. There is an extensive literature that highlights that venture capitalists are capable and willing to provide financing for these enterprises as a result of their special expertise and business experience and their sophisticated value creation methods. In this article the authors introduce a real options reasoning in order to give an interpretation of venture capital decision-making method and why venture capital is willing to operate in funding gaps and how it is able to bridge them. With the involvement in the operation of the invested companies venture capitalists create options that increase the value of the firm. Also in option-valuation the higher the uncertainty of the asset is, the higher the value of the option is. That is the reason, why other passive funding forms reject the financing of startup enterprises, while venture capital is willing to provide funds for them. In this article we will describe the problem of funding gaps, than we will introduce real options and their effect on investment decision. In the last part of the article we will demonstrate how real options appear and are created in venture capital financing as a result of its special characteristics and how the real options approach can explain the ability of venture capitalist of bridging funding gaps.

  2. Venture Capitalists in Systems of Innovation

    DEFF Research Database (Denmark)

    Munk, Kasper B.; Vintergaard, Christian

    In contemporary literature on venture capital financial infrastructures are identified as major contributors toa large proportion of today's innovations. Yet quite contradictory the literature on systems of innovation,hardly ever treat venture capitalists as a coherent actor in neither national nor...... 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...... location is exemplified by a case ofthe Danish venture capital market.It is argued in this article that venture capitalists stand a better chance of realizing their potential when theytake and are given direct and formal responsibility in the innovation system. In relation hereto, the authorsthus present...

  3. 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.

  4. 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.

  5. 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.

  6. Entrepreneurship in Business Systems Perspective

    DEFF Research Database (Denmark)

    Rana, Mohammad Bakhtiar; Allen, Mathew

    2018-01-01

    multinationals’ strategies, structures and decision making. We focus, instead, on a relatively neglected area: how BST can help to explain entrepreneurship. In particular, how can this framework help us to understand 1)why a particular business model is developed, 2) why entrepreneurs tend to make a particular...... of opportunities, challenges, and growth patterns for new ventures or new industries in a society? We provide an overview of the BST framework and then illustrate how it can help to explain entrepreneurial decision-making, motivation, venture/industry creation, rationales behind new business model/ venture......Part of the institutionalist and organization theory literatures, business systems theory (BST) presents a comprehensive framework to understand how institutions shape the strategies of firms and individuals, including entrepreneurs. Entrepreneurial activities do not take place in a barren...

  7. 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...

  8. Setting up your own business. Facing the future as an entrepreneur.

    Science.gov (United States)

    Brent, N J

    1990-01-01

    Other areas of setting up and running a business also are important to explore, especially if the business plans to use employees. You will become an employer, and you must be familiar with rules and regulations that include areas such as the employee's right to a safe workplace, worker's compensation laws, unemployment compensation laws and tax liabilities, antidiscrimination laws, and wage and tax laws. If independent contractors are going to be used, you must recognize that well-developed contracts are a necessity. If you are going to market a new product, consult with an attorney whose practice concentrates in trademark and patent law before the product is shared with others. Being well informed about the proposed business venture, not only before its establishment but as it develops and grows, can help you be in the best position to have a successful business.

  9. 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...

  10. North American Joint Ventures 2014 revision

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — A joint venture is a self-directed partnership of agencies, organizations, corporations, tribes, or individuals that has formally accepted the responsibility of...

  11. 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...

  12. INVESTMENT IN SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES

    National Research Council Canada - National Science Library

    Mareli Dippenaar; Danielle van Wyk

    2015-01-01

    ...) 27, Separate Financial Statements (IAS 27), in August 2014. The amendments give entities the option to use the equity method to account for investments in subsidiaries, joint ventures and associates in their separate financial statements...

  13. The Staging of Venture Equity Capital and Venture Capitalist Bargaining Power

    OpenAIRE

    Booth, G. Geoffrey; Dalgic, Orkunt; Young, Allan

    2004-01-01

    In this paper we look at the effects of bargaining power on the types of entrepreneurial projects chosen by venture capitalists and show that a wealth-constrained venture capitalist prefers to provide equity financing to a two-stage rather than to a similar single-stage project. While the venture capitalist does not have bargaining power over the entrepreneur of a single-stage project and is thus unable to extract any surplus, the venture capitalist does have this advantage in a two-stage pro...

  14. VENTURE COMPANY INITIAL PUBLIC OFFERING IN RUSSIA AS A WAY OF EXIT FROM VENTURE FUND

    Directory of Open Access Journals (Sweden)

    L. S. Tchugayeva

    2012-01-01

    Full Text Available Venture companies patronized by venture funds unavoidably face up with the problem of exit out of the fund in order to start independent development. The exit should be made with maximum benefit both for the company and the fund. One of this behavior strategic ways is initial public offering of the venture company (IPO market. An alternative of such exit is a transaction of merging and absorption (M&A market. Main tendencies of the venture IPO market in Russia are discussed along with comparison of this market with that in the USA.

  15. Economic analysis of venture capital funds rate of return on venture activity

    Directory of Open Access Journals (Sweden)

    Usatenko O.V.

    2017-08-01

    Full Text Available The research deals with the topic of the analysis of venture capital funds’ rate of return on venture activity. The discovered venture capital funds have such a peculiarity as the involved investors of various types and concentrated financial resources, which lead to advantages in investing. Based on the analyzed scientific approaches to the evaluation of income rate met by various economic entities the paper determines the optimal indicators of such an analysis developed due to the article research. They are supposed to improve significantly the process of making decisions on venture capital investments. The author suggests to evaluate venture capital funds rate of return on venture activity by means of the basic four indicators usually employed for investment efficiency definition: net profit, internal rate of return, return period and return index. The research presents the examination of rates of return on venture activity of venture capital funds being controlled by a single asset management company. Thus, one can estimate not only the rate of return on venture activity, but also the efficiency of control taken by an asset management company.

  16. Stages of Business Development and Job Generation: Implications for Marketing and Business Educators.

    Science.gov (United States)

    Stone, James R., III; Wentling, Rose Mary

    1988-01-01

    A sample of 400 Wisconsin business owners (69 percent response) and 200 potential entrepreneurs (27 percent response) identified the relationship of personal characteristics, motivational factors, and the decision to start a business, as well as perceived barriers to business ventures. Unsuccessful potential entrepreneurs differed from successful…

  17. 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....

  18. The Entrepreneur's Choice: Venture Capital Debt Financing with Adverse Selection

    OpenAIRE

    Booth, G. Geoffrey; Dalgic, Orkunt; Young, Allan

    2004-01-01

    This paper studies the consequences of using a debt contract to raise venture capital for an entrepreneurial project in an adverse selection setting with different quality venture capitalists. The paper considers not only the likelihood of success of a one-time project being dependent on the quality of the venture capitalist, but also the problem of a reduced ownership value of future rents from the venture if the venture capitalist takes it over as the result of default of the entrepreneur. ...

  19. A strategic framework to utilise venture capital funding to develop manufacturing SMES in South Africa

    Directory of Open Access Journals (Sweden)

    Snyman, Hendrik Andries

    2014-08-01

    Full Text Available SMEs contribute considerably to the national GDP and to private sector employment, but they struggle to gain access to the funding needed to support business sustainability and growth. Venture capital provides the necessary funding, but SMEs lack understanding of the business value curve utilised by financiers to gauge the risk-reward characteristics of an investment. Strategies need to convey how the business model will evolve in order to deliver on the strategic intent. A framework is proposed through which SMEs can develop a strategy aligned with investor requirements. As a case study, the framework is applied to the local tooling sector.

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

    Directory of Open Access Journals (Sweden)

    Fazekas Balazs

    2014-07-01

    Full Text Available 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 capital funds were founded in four rounds and 130 billion HUF capital was allocated into these funds with the contribution of Hungarian government. A well-established venture capital market can boost entrepreneurship and innovation, therefore economic growth which is the foundation of government involvement. On the other hand, there is an extensive literature highlighting the limits and possible drawbacks of the active role of public sector in the venture capital market. There is a consensus in the literature that in the long run the extensive role of government in venture capital industry is counterproductive. Substituting market participants by government agencies will hardly result in a competitive and efficient market. However, temporarily as a catalyst public sector can contribute to the development of venture capital market. Direct government intervention supportable temporarily only in the infancy of the industry. The primary objective of every program must be to develop the market to the level where it becomes self-sustaining. This way the success of these programs must not be measured only by the amount of invested capital, financial performance of venture capital funds and venture capital backed companies. Raising private sector awareness and the progress of necessary institutions are also the criteria of a successful program. During the design and implementation of venture capital agendas these aspects must be taken into consideration. This

  1. 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

  2. Equipping Liberal Arts Students with Skills in Data Analytics: Drake University Partners with Regional Businesses to Offer New Programs in a Rapidly Growing Field. A BHEF Case Study

    Science.gov (United States)

    Business-Higher Education Forum, 2016

    2016-01-01

    This case study examines how Business-Higher Education Forum (BHEF) member Drake University, a private university with a strong liberal arts tradition, is equipping its students to become data-enabled professionals. Through the collaboration of its business and higher education members, BHEF launched the National Higher Education and Workforce…

  3. 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.

  4. 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.

  5. The use of joint ventures to accomplish aboriginal economic development: Two examples from British Columbia

    Directory of Open Access Journals (Sweden)

    Jeremy Boyd

    2009-09-01

    Full Text Available “Aboriginal economic development” differs from other forms of development by emphasizing aboriginal values and community involvement. Joint ventures, while providing business advantages, may not be able to contribute to aboriginal economic development. This paper examines two joint ventures in the interior of British Columbia to examine their ability or inability to contribute the extra dimensions of development desired by aboriginal communities. The AED framework examines business structure; profitability; employment; aboriginal capacity in education, experience, and finance; preservation of traditional values, culture and language; control of forest management over traditional territory; and community support. Established in the context of unresolved land claims, both enterprises partially contribute to aboriginal economic development, but in different ways and with different overall results.

  6. Globalizing High-Tech Business Models

    DEFF Research Database (Denmark)

    Turcan, Romeo V.

    2012-01-01

    resources and behavioral patterns. Two sources could be identified that effect these tensions, namely strategic experimentation and business model experimentation. For example, entrepreneurs are trying to ease the tensions in the organizational gestalt as a result of a change in the business model...... and growth path. To internationalize, international new ventures have to develop a product-led business model as services do not travel. Opting to attract venture capital, entrepreneurs are to deal with dyadic tensions that are the result of differences in entrepreneurs’ and VCs’ goals and measures...

  7. Leveraging Venture Capital and Commercial Business: Enhancing Stability Operations

    Science.gov (United States)

    2011-03-24

    regional and global influence, ―American officers in control of Havana , Manila, and other cities occupied by the Army engaged in efforts to promote public...River of Gold ‖ was a convincing argument; the Coalition‘s plan was subsequently approved in 2006. Figure 4. Iraq‘s River of Gold 24 Phase III

  8. Editorial: Dilemmas of Modern Economy and Business

    Directory of Open Access Journals (Sweden)

    Jelena Stankevičienė

    2016-02-01

    Full Text Available Various dilemmas concerning modern economy and business have been in the focus of scientific discussion in recent years (Klich, 2013; Renko & Knezevic, 2013; Szarucki, 2013; Agrawal & Gugnani, 2014; Pardhasaradhi & Grace, 2015. In modern economy, not only researches but corporations face complex economic and business dilemmas in their daily routine. The Joint Research Centre of the European Commission addresses key economic challenges by stimulating innovations, sustainability policies, social and environmental responsibilities. These challenges require the mobilization of significant resources by science, innovation and regional policy makers and scientific communities across Europe (EUA, 2014. Broader scientific discussions are crucial for the success of the Europe 2020 strategy for smart, sustainable and inclusive growth. According to the Global Risks Report 2015, the biggest threat to world stability in the next 10 years arise from the four most serious economic risks. These are high structural unemployment or underemployment, energy price shock, critical information infrastructure breakdown and fiscal crises. We continuously agree that innovation is critical to global prosperity (WEF, 2015. Currently, the internationalisation of family businesses is an increasingly important research area. Substantial numbers of FBs are forced to expand into foreign markets in order to survive and grow in the competitive environment (Daszkiewicz & Wach, 2014. The roles of business angels are especially important taken both decreasing the levels of formal venture capital investment and growing average amount of individual deals. Angel investors are the key players in generating high-growth companies, essential to regional economic development. As a result, they have attracted the attention of policy makers (Rostamzadeh et. al., 2014. Consequently, this issue of EBER concentrates on the current dilemmas of modern economy and business, particularly dealing

  9. 76 FR 39645 - Exemptions for Advisers to Venture Capital Funds, Private Fund Advisers With Less Than $150...

    Science.gov (United States)

    2011-07-06

    ... has elected to be a business development company (the ``private adviser exemption'').\\4\\ Advisers... Investment Companies (Jan. 28, 2011) (``CPIC Letter''); Comment Letter of European Private Equity and Venture... company based on the size of its public float). See also Comment Letter of Georg Merkl (Jan. 25, 2011...

  10. The Bias in Favor of Venture Capital Finance in U.S. Entrepreneurial Education: At the Expense of Trade Credit

    Science.gov (United States)

    Clement, Thomas; LeMire, Steven; Silvernagel, Craig

    2015-01-01

    The authors examine whether U.S. college-level entrepreneurship education demonstrates a bias favoring venture capital (VC) financing while marginalizing trade credit financing, and the resulting impact on entrepreneurship students. A sample of U.S. business textbooks and survey data from entrepreneurship students reveals a significant bias toward…

  11. 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…

  12. Imagery of Ad-venture

    DEFF Research Database (Denmark)

    Clarke, Jean; Holt, Robin

    2017-01-01

    We examine how visual metaphor can reveal the tacit assumptions entrepreneurs use to make sense of their lives. While metaphor is often equated with linguistic metaphor, here we argue that metaphors created through the modality of drawing can offer a more nuanced insight into how entrepreneurs make...... sense of their entrepreneurial identity. From an analysis of images drawn by entrepreneurs and accompanying interviews, metaphors emerge that are much more complex, nuanced and messy than their linguistic equivalents. The images allow the entrepreneurs to isolate salient meanings about being in business...

  13. 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

  14. 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.

  15. 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...

  16. 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...

  17. 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

  18. 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

  19. 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)

  20. 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…

  1. 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...

  2. Buyouts & ventures. Selling ... or selling out.

    Science.gov (United States)

    Meyer, H; Hudson, T; Cain, J E; Carr, S L; Zacharias, D

    1996-06-05

    Charity begins at home, yet across the country hometown not-for-profit hospitals are forming joint partnerships with investor-owned systems. In some of these cases no foundation is created to continue the hospital's good deeds. In this special report, Hospitals & Health Networks looks at the issues and asks, "Do these joint ventures need more public scrutiny?"

  3. 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

  4. De-internationalization of International New Ventures

    DEFF Research Database (Denmark)

    Turcan, Romeo V.; Servais, Per

    The purpose of this paper is to encourage a dynamic scholarly conversation into the dynamics of international new ventures (INVs) with a specific emphasis on the phenomenon of de-internationalization. The paper is also in response to the call for further research in the area of what happens to INVs...... after their initial establishment in foreign markets....

  5. 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

  6. 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...

  7. Multinational Companies And Joint Venture Investment ...

    African Journals Online (AJOL)

    This study brought to the fore, critical issues relating the Joint Venture Arrangement (JVA) prevailing in the Nigeria\\'s oil sector. The JVA option was considered the best alternative strategy for optimizing Nigeria\\'s oil returns and indigenous capacity building, since April 1971. questionnaire was designed and administered on ...

  8. Challenges in Bootstrapping a Start-Up Venture: Keenga Research Turning the Tables on Venture Capitalists

    National Research Council Canada - National Science Library

    Ensign, Prescott C; Woods, Anthony A

    2016-01-01

    ...). What makes this case unique is that Keenga Research was a lean start-up. Bootstrapping is a situation in which the entrepreneur chooses to fund the venture with his/her own personal resources...

  9. On (mis-)conceptions of culture as a vehicle of business succes: Singapore Chinese investment strategies after failing in China

    NARCIS (Netherlands)

    Dahles, H.

    2007-01-01

    The focus of this paper is on the strategies applied by Singapore Chinese businesses upon failing in their China business ventures. It has been argued that both the increase in Singapore ventures into China and the failures are due to either cultural issues (misconceptions of 'shared ethnicity') or

  10. Factors Affecting Entrepreneurship and Business Sustainability

    Directory of Open Access Journals (Sweden)

    Ana Tur-Porcar

    2018-02-01

    Full Text Available Sustainability is becoming increasingly important for society, and the creation of business ventures is one area where sustainability is critical. We examined the factors affecting actions that are designed to foster business sustainability. These factors are related to the environment, behavior, human relations, and business activity. Based on questionnaire responses from experts, the Analytic Hierarchy Process (AHP method was used to rank sustainable business criteria according to their importance for entrepreneurs starting sustainable businesses. The results indicate that the most important drivers of sustainable entrepreneurship are behavioral factors and business factors. Ethical principles and values, together with competitive intelligence, are crucial for undertaking actions that lead to sustainability.

  11. On regional innovator networks as hubs for innovative ventures

    DEFF Research Database (Denmark)

    Cantner, Uwe; Wolf, Tina

    2016-01-01

    At least since Schumpeter published his work ‘The Theory of Economic Development’ (1912), a wide body of literature has focused on the evolutionary process behind firm growth and survival. Recently a growing interest is devoted to the variable ‘location’ as a critical factor, shaping firm...... performance. However, less attention has been paid to the region-specific characteristics that may play a relevant role in determining the growth and survival of a firm. Some works see university-based knowledge spillovers as one such factor (Audretsch and Lehmann 2005, Cassia et al. 2009). This paper extends...... this approach to the regional innovator network, promoting region-specific knowledge spillovers. Two data bases are applied. First, patent data delivers the innovator network for Thuringia. The second data base contains firm specific information on innovative ventures founded in Thuringia in the period between...

  12. Using Real Options for the Evaluation of Venture Projects

    Directory of Open Access Journals (Sweden)

    Alexander Baranov

    2016-08-01

    Full Text Available This paper considers the peculiarities of the application of the real options method for assessing the economic efficiency of venture investments in innovative projects from the venture fund’s position. The results of the practical use of the author’s approach for the evaluation of venture investments with real options are analyzed. The paper shows the applicability of the real options concept to the valuation of the effectiveness of venture capital investments. The use of the real options method raises the accuracy of the estimation and enhances the instruments of the venture fund in evaluating the economic efficiency of innovative projects.

  13. 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

  14. 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.

  15. 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.

  16. Measuring the usefulness of social media information for new venture development decision-making

    OpenAIRE

    den Engelse, Natalie; Wijnhoven, Alphonsus B.J.M.; Groen, Arend J.

    2012-01-01

    Social media are being adopted by a growing number of entrepreneurs. Yet, the majority of academic research has focused on social media as marketing tools. Little is known on how these media are used by entrepreneurs for information acquisition and to what extent entrepreneurs use social media information in their decision-making during venture development. This paper addresses this gap in two ways. First, by assessing to what extent entrepreneurs perform four entrepreneurial information acqu...

  17. 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.

  18. 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.

  19. Tax Policy, Venture Capital and Entrepreneurship

    OpenAIRE

    Keuschnigg, Christian; Nielsen, Søren Bo

    2000-01-01

    The paper studies the effects of tax policy on entrepreneurship and 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 and committment to the project. The extent of risk-diversification is, thus, limited by the presence of moral hazard. The contract must also be sufficiently generous to attract ...

  20. Cost effective management of space venture risks

    Science.gov (United States)

    Giuntini, Ronald E.; Storm, Richard E.

    1986-01-01

    The development of a model for the cost-effective management of space venture risks is discussed. The risk assessment and control program of insurance companies is examined. A simplified system development cycle which consists of a conceptual design phase, a preliminary design phase, a final design phase, a construction phase, and a system operations and maintenance phase is described. The model incorporates insurance safety risk methods and reliability engineering, and testing practices used in the development of large aerospace and defense systems.

  1. Incentive Contracting For Venture Capital Fund Managers

    Science.gov (United States)

    Leisen, Dietmar P. J.

    2009-09-01

    It is well-known in the VC literature that VCs should provide so-called value-adding activities that nurture their venture companies. This paper presents a model of the VC market that takes account of the so-called carried interest on the choice of the risk level and actions. We determine the optimal actions of the fund managers and what would be the desired actions of the fund's investors. Conflicts of interest between the parties will be documented.

  2. Venture capital and private equity investment strategies in selected European countries

    Directory of Open Access Journals (Sweden)

    Krzysztof Dziekoński

    2016-09-01

    Full Text Available Private equity and venture capital (PE/VC funding is the provision of equity capital by financial investors to non-quoted companies with high growth potential. It has a particular emphasis on entrepreneurial activities rather than on mature businesses. PE/VC investors differ on several dimensions including: investment targets, screening evaluation methods, governance mechanisms, and objectives. The paper is a conti nuati on of the discussion that concerns investment strategies of PE/VC funds. While studying the PE/VC market it is important to analyze the origin and structure of capital. The authors assumed that different types of investors have different investment strategies. Our research is an attempt to answer the following research question: whether the investor type, on the European PE/VC market, has an impact on the selection of industries. The paper presents results of statistical analysis of venture capital and private equity funds investment strategies in selected countries.

  3. From a small business to an internationally successful fan manufacturer

    Energy Technology Data Exchange (ETDEWEB)

    Schidlack, Gabriele; Rohdich, Christian [Konrad Reitz Ventilatoren GmbH und Co. KG, Hoexter (Germany)

    2008-07-01

    It was Goethe who proclaimed that one must venture on the road less travelled to achieve the extraordinary. Or, expressed differently: only who dares will win. Konrad Reitz Ventilatoren GmbH and Co. KG has followed this motto from day one. It has taken just six decades for REITZ to grow from a small metalworking shop to a globally-active industrial fan manufacturer with several subsidiaries. This was accomplished thanks to the bold approach of company founder Konrad Reitz, who looked beyond the horizon and set himself remarkable goals, and to his descendants, who have confidently upheld this philosophy and will continue to do so in the future. As far as sales and company size are concerned, the family business, which will celebrate its 60{sup th} anniversary in autumn 2008, has been for many years one of the European market leaders in fan construction. (orig.)

  4. 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...

  5. Pros and cons of the ambulatory surgery center joint venture.

    Science.gov (United States)

    Giannini, Deborah

    2008-01-01

    If a physician group has determined that it has a realistic patient base to establish an ambulatory surgery center, it may be beneficial to consider a partner to share the costs and risks of this new joint venture. Joint ventures can be a benefit or liability in the establishment of an ambulatory surgery center. This article discusses the advantages and disadvantages of a hospital physician-group joint venture.

  6. A Managerial Decision Model of International Cooperative Venture Formation

    OpenAIRE

    Tallman, Stephen B.; Oded Shenkar

    1994-01-01

    This paper develops a model of international cooperative venture formation that is centered on the decisionmaking process of MNE executives. Central issues for managerial decisions are developed from the organizational studies literature. A framework delineating the sequence and criteria used in the decision to form international cooperative ventures is developed from these defined issues and from existing models. Propositions pertaining to the venture formation decision process are outlined....

  7. Why business models matter.

    Science.gov (United States)

    Magretta, Joan

    2002-05-01

    "Business model" was one of the great buzz-words of the Internet boom. A company didn't need a strategy, a special competence, or even any customers--all it needed was a Web-based business model that promised wild profits in some distant, ill-defined future. Many people--investors, entrepreneurs, and executives alike--fell for the fantasy and got burned. And as the inevitable counterreaction played out, the concept of the business model fell out of fashion nearly as quickly as the .com appendage itself. That's a shame. As Joan Magretta explains, a good business model remains essential to every successful organization, whether it's a new venture or an established player. To help managers apply the concept successfully, she defines what a business model is and how it complements a smart competitive strategy. Business models are, at heart, stories that explain how enterprises work. Like a good story, a robust business model contains precisely delineated characters, plausible motivations, and a plot that turns on an insight about value. It answers certain questions: Who is the customer? How do we make money? What underlying economic logic explains how we can deliver value to customers at an appropriate cost? Every viable organization is built on a sound business model, but a business model isn't a strategy, even though many people use the terms interchangeably. Business models describe, as a system, how the pieces of a business fit together. But they don't factor in one critical dimension of performance: competition. That's the job of strategy. Illustrated with examples from companies like American Express, EuroDisney, WalMart, and Dell Computer, this article clarifies the concepts of business models and strategy, which are fundamental to every company's performance.

  8. Business model in research-development activity

    Directory of Open Access Journals (Sweden)

    Koszałka Jerzy

    2016-09-01

    Full Text Available The partners and allies of business practice in the processes of modernization of the economy are scientific-research institutions, such as scientific institutes, research-development units and universities. A market on which companies can look for the solutions they need and scientific-research institutions can look for inspiration, partners and capital is being formed. The market provides conditions for operation, development and implementation of developed solutions. Taking into consideration the complexity of market, technical, legal, financial, or intellectual property protection issues, research-development units are more and more frequently unable to function efficiently without a clear and unequivocal definition of goals, methods and conditions of activity. Their market offer has to take into consideration not just scientific-research, or methodological aspects. Taking into consideration continuously growing demands of the clients and pressure of the competition, scientific-research institutions have to pay attention also to market, information, personnel, or financial aspects typical of strictly commercial ventures. What may support a comprehensive preparation and implementation of scientific-research activities under market conditions are tools successfully used in trade and economy, such as business models. These issues are the basis of deliberations contained in this work.

  9. Fiscal 1998 achievement report on regional consortium research and development project. Venture business raising type regional consortium - Small business creation base type (Regional activation and environment conservation by development of hybrid timber using domestic wood - 2nd year); 1998 nendo chiiki hybrid gijutsu kaihatsu ni yoru kankyo hozen to chusankanchi no kassei seika hokokusho (dai 2 nendo)

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-03-01

    For the settlement of problems of near-mountainous regions growing desolate and for contribution to the solution of environmental problems, locally harvested Japanese cryptomeria, Japanese cypress, pine, etc., have to come back again as main industrial materials to eventually restore agreeable relationship between industry and local life. Results attained in fiscal 1998 about the development of high quality structural plywood and LVL (laminated veneer lumber) production are described. To solve problems about relative strength between individual materials and absolute strength in each of them and about their variations, and to eliminate such variations for their conversion into materials higher in strength and less in variation, technologies have been developed for grading individual wood veneers and for constituting high stress plywood using post-sorting wood veneers. By measuring Young's moduli for fabricated wood veneers using a dynamic Young's modulus measuring device, manufacture of LVL with an intended Young's module has become feasible. Concerning the domestically harvested cypress whose effective utilization is much desired, Young's module is measured for each wood veneer for their grading, and high-strength, high-performance LVL is obtained by laminating them. Cypress veneers short of predetermined standards may be hybridized with imported larch high in Young's module for the production of useful lumber. (NEDO)

  10. 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...

  11. 15 CFR 295.23 - Dissolution of joint research and development ventures.

    Science.gov (United States)

    2010-01-01

    ... Development Ventures § 295.23 Dissolution of joint research and development ventures. Upon dissolution of any joint research and development venture receiving funds under these procedures or at a time otherwise... venture proportional to the Federal share of the costs of the joint venture as determined by independent...

  12. Venture funding for science-based African health innovation

    National Research Council Canada - National Science Library

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

    2010-01-01

    .... 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...

  13. Applying temporal network analysis to the venture capital market

    Science.gov (United States)

    Zhang, Xin; Feng, Ling; Zhu, Rongqian; Stanley, H. Eugene

    2015-10-01

    Using complex network theory to study the investment relationships of venture capital firms has produced a number of significant results. However, previous studies have often neglected the temporal properties of those relationships, which in real-world scenarios play a pivotal role. Here we examine the time-evolving dynamics of venture capital investment in China by constructing temporal networks to represent (i) investment relationships between venture capital firms and portfolio companies and (ii) the syndication ties between venture capital investors. The evolution of the networks exhibits rich variations in centrality, connectivity and local topology. We demonstrate that a temporal network approach provides a dynamic and comprehensive analysis of real-world networks.

  14. 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.

  15. 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...

  16. Joint ventures e a política antitruste brasileira Joint ventures and Brazilian antitrust policy

    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.The antitrust policy is an essential part of the required institutions that support economic growth and the seeking for more efficient arrangements. This paper aims to examine the Brazilian antitrust policy, paying special attention to way that the authorities deal with the joint ventures. In order to reach this goal, we review the theoretical contributions, discuss the procedures adopted by international antitrust authorities and, more importantly, scrutinize the cases of joint ventures judged by the Brazilian watchdog along period 2002-2010. We conclude that there are not specific norms to be applied by the Brazilian antitrust commissionaires when they are judging joint ventures, allowing them to act with a relatively degree of discretion.

  17. 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.

  18. Report on achievements in fiscal 1998. Venture business growing type consortium - small business creating infrastructure (Development of ultra-high efficiency cultivation system for Hyphomycetes, and application of the system to plant device to manufacture fermentative foods); 1998 nendo itojokin no chokoritsu tairyo baiyo system no kaihatsu to kinosei hakko sho0kuhin seizo plant kiki eno tekiyo seika hokokusho

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-03-01

    This project has noticed the membrane surface liquid culture method, and researched and developed the following themes with an objective to commercialize the membrane surface liquid culture system and develop novel fermentative foods using this system. Cultivation of Beni-koji bacteria (solid culture of M. pilosus k) is taken up in the model cultivation system. (1) establishment of the membrane surface liquid culture system and development of devices, (2) elucidation of cultivation characteristics of the membrane surface liquid culture system and optimization of the cultivating conditions, and (3) development of fermentative foods. In Item (1), such problems were solved as automation of bacteria planting, long-term pasteurized cultivation, and assurance of clean cultivation broth. In Item (2), it was discovered most suitable that maltose concentration is about 5%, glutamic acid concentration is about 50 mM, the initial culture medium pH is about six, and the cultivation temperature is 30 degree C. In item (3), as a result of mixing this red coloring matter containing cultivation broth into preparation of Miso (bean paste) and soy sauce, products having high {gamma}-Aminobutyric acid and monacholin k content were developed. In addition, while Beni-koji made by solid cultivation had peculiar taste and odor, this drawback was eliminated by using this coloring matter containing cultivation broth. This has made differentiation from conventional products possible. (NEDO)

  19. Report on achievements in fiscal 1998. Venture business growing type consortium - small business creating infrastructure (Development of functional metal for high-level information system controlled in angstrom units); 1998 nendo angstrom de seigyoshigta kodo johoka system kinosei kinzoku mirror no kaihatsu seika hokokusho. 2

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-03-01

    The present research and development works are intended to develop a technology to form semi-transparent films required in the functional metal mirror used for the next-generation car navigation display and required for color display with higher visibility, controlling the thickness uniformly in angstrom units in as large area as mass production levels (about 500 mm square). The development is based on the vacuum arc deposition process stated in the patent No. 2857743 granted to Osaka Industrial Technology Research Institute of the Agency of Industrial Science and Technology. The development items are as follows: (1) development of a film forming device capable of forming the film uniformly on a large-area substrate, (2) film forming conditions, film quality, and anti-for properties (specified resistance of 5 ohms per square), (3) a semi-transparent metal film laminated with several layers in a thickness of 100 angstrom, its permeation and reflection characteristics, (4) discussions on surface pretreatment to enhance adhesion, and (5) establishment of a substrate technology intended for practical application of the vacuum arm deposition process. In Item (1), development was performed on a device to develop a metal mirror. In Item (2), the precious metal surface was found to have the best stability. In Item (3), fundamental data were accumulated on vacuum arc guns and different metal targets. In Item (4), data were accumulated on the adhesion. In Item (5), film deposition technologies were studied on TiAl alloy, multi-layer Fe/C films, and thin Au film on SiO{sub 2}. (NEDO)

  20. SPECIFICITY OF INNOVATIVE PROJECT MANAGEMENT OF SMALL AND MEDIUM BUSINESSES

    Directory of Open Access Journals (Sweden)

    Tatiana E. Platonova

    2013-01-01

    Full Text Available Issues of investing small businesses, results and problems of small enterprises in Russia in recent years are considered in the article. The main components of the establishment and operation of venture capital firms and their importance in achieving effective results in the implementation of innovative projects are analyzed. Areas of success of small businesses in innovation sphere are identified.

  1. Social Capital in the Internationalization of Knowledge-Intensive new Ventures

    DEFF Research Database (Denmark)

    Madsen, Henning; Neergaard, Helle

    2005-01-01

    It has long been recognised that social capital in the shape of network relationships plays a significant role in the internationalisation process of a business. This research seeks to further the discussion of how social capital influences the early internationalization of new technology...... no international activities. Based on statistical analysis it elucidates the relationship among a number of factors related to social capital which may influence the internationalization process. These factors include the number and types of contacts as well as how these contacts are utilized. The results indicate...... that new technology based ventures rely on network contacts forged before foundation to provide global reach....

  2. 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

  3. How to Write a Great Business Plan.

    Science.gov (United States)

    Sahlman, William A.

    1997-01-01

    Reveals what potential backers are looking for in a business plan from would-be entrepreneurs and answers questions addressing the four factors critical to the success of every new venture: (1) people; (2) opportunity; (3) context; and (4) possibilities for risk and reward. (JOW)

  4. Venture Leaders Prize for innovative technology projects

    CERN Document Server

    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...

  5. Simultaneous Experimentation as a Learning Strategy: Business Model Development Under Uncertainty

    NARCIS (Netherlands)

    Andries, Petra; Debackere, Koenraad; van Looy, Bart

    2013-01-01

    Ventures operating under uncertainty face challenges defining a sustainable value proposition. Six longitudinal case studies reveal two approaches to business model development: focused commitment and simultaneous experimentation. While focused commitment positively affects initial growth, this

  6. TRENDS OF THE GLOBAL MARKET FOR VENTURE FUNDING: COMPARATIVE ANALYSIS

    Directory of Open Access Journals (Sweden)

    Yuriy Drachuk

    2016-11-01

    Full Text Available The purpose of the paper is to explore of the global venture capital market and to reveal of its development trends. Methodology. To achieve this goal used methods: statistical analysis, forecasting method autoregression model, the calculation of the coefficient of variation, Spearman rank correlation coefficient and linear Pearson correlation coefficient. Results. The analysis of the development of the global venture capital market for the years 2007-2015 executed. The coefficients of variation of the volume of venture capital investment and the number of venture capital deals are designed. According to the calculations, variations in the volume of venture capital investment rate is 11.8%, which is almost 2.1 times higher than the value of the coefficient of variation in the number of venture capital deals in the global market of venture capital investments (5.7%. It means: the actual data volume of venture capital investment and the number of venture capital deals are homogeneous collections, because the values of the coefficients of variation of these indices is less than 33%. A characteristic feature of these indicators is a low level of variability and minor fluctuations, that is, a tendency even venture investments of innovative development in the world. To determine the closeness of the connection between the amount of capital raised in the IPO, and the number of transactions Spearman rank correlation coefficient is calculated, as well as the strength of correlation between the volume of investment and the number of transactions in the global market transactions M&A – linear Pearson correlation coefficient. Between the amount of capital raised in the IPO, and the amount of venture capital transactions revealed a strong positive correlation (Spearman's rank correlation coefficient close to 1. This indicates positive trends in the development of the global market of venture IPO, because by investing venture capital in innovation is a

  7. 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...

  8. 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)

  9. 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…

  10. What lures cross-border venture capital inflows?

    NARCIS (Netherlands)

    Schertler, Andrea; Tykvova, Tereza

    2012-01-01

    We investigate if economic factors drive gross and net cross-border venture capital inflows differently. Using a dataset of venture capital investments in European and North American countries from 2000 to 2008, we find that higher expected economic growth goes hand in hand with higher gross as well

  11. 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...

  12. A Categorisation of Cloud Computing Business Models

    OpenAIRE

    Chang, V; Bacigalupo, D; Wills, G; De Roure, D

    2010-01-01

    This paper reviews current cloud computing business models and presents proposals on how organisations can achieve sustainability by adopting appropriate models. We classify cloud computing business models into eight types: (1) Service Provider and Service Orientation; (2) Support and Services Contracts; (3) In-House Private Clouds; (4) All-In-One Enterprise Cloud; (5) One-Stop Resources and Services; (6) Government funding; (7) Venture Capitals; and (8) Entertainment and Social Networking. U...

  13. The Founding Years of the International New Venture

    DEFF Research Database (Denmark)

    Rasmussen, Erik Stavnsager; Servais, Per; Madsen, Tage Koed

    2007-01-01

    Several studies have focused on International New Ventures; smaller, entrepreneurial firms which adopt a global focus from the beginning and operate in international markets from the earliest day of their establishment. In this paper we intend to focus on the founding years of the International New...... Ventures through the use of a large scale study of all types of industrial firms. This is supplemented with a large number of case studies of International New Ventures since 1997. Some preliminary conclusions are: When the International New Ventures are compared with other types of firms, large...... differences can be seen in their internationalization and in the development in the first three years. The complexity of the internationalization of the International New Ventures is e.g. high compared with other types of international firms....

  14. The embeddedness of selfish routines: How routines are replicated in business networks

    DEFF Research Database (Denmark)

    Andersen, Poul Houman

    2003-01-01

    Organisational routines may be viewed as replicators of business organisation and lead to the formation of new ventures. This paper discuss this idea, and ilustrates it using two case studies of routine replication in a Danish context......Organisational routines may be viewed as replicators of business organisation and lead to the formation of new ventures. This paper discuss this idea, and ilustrates it using two case studies of routine replication in a Danish context...

  15. Internal corporate venturing during organisational change

    DEFF Research Database (Denmark)

    Kjærgaard, Annemette L.

    2004-01-01

    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...... 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...... (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...

  16. 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.

  17. Disentangling the effects of new venture team functional heterogeneity on new venture performance

    OpenAIRE

    Cantner, Uwe; Goethner, Maximilian; Stuetzer, Michael

    2010-01-01

    Previous research on entrepreneurial teams has failed to settle the controversy over whether team heterogeneity helps or hinders new venture performance. Reconciling this inconsistency, this paper suggests a new conceptual approach to disentangle differential effects of team heterogeneity by modeling two separate heterogeneity dimensions, namely knowledge scope and knowledge disparity. Analyzing unique data on functional experiences of the members of 337 start-up teams, we find support for ou...

  18. 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.

  19. Business model in marketplace industry using business model canvas approach: An e-commerce case study

    Science.gov (United States)

    Erlyana, Yana; Hartono, Henny

    2017-12-01

    The advancement of technology has huge impact on commerce world, especially in the marketplace that has shifted from brick-and-mortar to digital/online marketplace. Grasping the opportunity, ABC joined venture with DEF to create a new online venture namely XYZ Online Shop – an e-commerce website that has large segmentations. The objective of this research is to analyze the business model conducted by XYZ Online Shop by utilizing Business Model Canvas Framework and SWOT analysis. The results obtained from the research are that the business model conducted by XYZ Online Shop excels in customer relationship block and still needs to improve key partner and key activities blocks. Business Model Canvas along with SWOT analysis describes how XYZ Online Shop creates, delivers, and captures value based on its internal and external environments.

  20. From Business Administration to Business Creation: The Case of the Kalevala Global Business Creation School

    Directory of Open Access Journals (Sweden)

    Marko Seppä

    2012-06-01

    Full Text Available Are there any businesses left to administer? The question is of course rhetorical and aimed at underscoring how several societies are more severely in need of creators of new businesses than managers of established ones. And yet, nearly all universities only produce masters of business administration, at best. Apart from theoretical research about business creation, and the education of masters of such research, universities are generally not equipped to produce knowledge for business creation or to produce masters of business creation. This conceptual article calls for a new, complementary approach to research and education, around the theme of global business creation. Due to the limitations and restrictions related to the traditions and practices of the science of business administration, where the means justify the ends, a new exploratory field coined as the “Art of Business Creation,” where the end justifies the means, is being explored for some inspiration. For a concrete solution, the concept of a globally distributed, enterprise-centric, entrepreneurial-faculty-driven, open-innovation-based, and social-media-empowered university entity is depicted in this article. It is a new-generation private-public-partnership and “Living Lab 2.0” referred to as Kalevala Global Business Creation School. The conceptualization draws from observations and action research during the Global Venture Lab Finland experiment at the University of Jyväskylä from 2007 to 2011.

  1. The post-formation management of international joint ventures

    DEFF Research Database (Denmark)

    Dao, Li

    2014-01-01

    , and particularly on major drivers of joint venture performance. Still, what we know less is about ‘soft’ aspects of collaboration underlying contextual constraints and dynamics in the joint venture process, such as individual sensemaking and identification. In light of this, the present paper aims at exploring...... a sensemaking approach to IJV post-formation management in search of capturing such ‘soft’, invisible managerial processes in a visible conceptualization that contributes to a better understanding of this complex organizational phenomenon. Empirical insights from cases of Danish – Vietnamese joint ventures...

  2. Venture Capital Investment Base on Grey Relational Theory

    Science.gov (United States)

    Zhang, Xubo

    This paper builds a venture capital investment projects selection evaluation model base on risk-weight investment return using grey relational analysis. The risk and return in venture capital investment projects selection process is analyses. These risk and return mainly constricted in management ability, operation ability, market ability, exit obtain and investment cost. The 18 sub-indicators are the impact factors contributed to these five evaluation aspects. Grey relation analysis is use to evaluate the venture capital investment selection. Get the optimal solution of risk-weight double objective investment selection evaluation model. An example is used to demonstrate the model in this paper.

  3. Small business financing: Differences between young and old firms

    OpenAIRE

    Robb, Alicia M.

    2002-01-01

    Financial capital is necessary not only for business formation but also for business survival and expansion: its role is well documented in the literature. While venture capital and IPOs often make the popular press, the fact is most firms are unable to tap into this market. Instead, they depend on owner equity, other private equity, and debt financing. Survey data from the Federal Reserve Board allow an in depth look at the patterns of small business financing in the late nineties. Evidence ...

  4. Empirical Relationships among Technological Characteristics, Global Orientation, and Internationalisation of South Korean New Ventures

    Directory of Open Access Journals (Sweden)

    Junghyun Yoon

    2016-12-01

    Full Text Available International new ventures (INVs that pursue rapid internationalisation have received a growing amount of attention worldwide. This study, therefore, examined characteristics of INVs, and hence investigated empirically the relationships among the technological characteristics of INVs, the characteristics of their chief executive officers (CEOs (i.e., global orientation, and their internationalisation such as the level of internationalisation. The findings of this study can be summarised as follows: all of the technological characteristics (e.g., technological capacity, imitation, innovation, and standardisation have significant effects on the internationalisation of INVs. Furthermore, the CEO’s global orientation mediated the relationship between the technological characteristics and internationalisation.

  5. Syndicate Innovation Venturing: Translating Academic Innovations into Commercial Successes

    Directory of Open Access Journals (Sweden)

    Alain A. Vertès

    2012-07-01

    Full Text Available Innovations that initiate new technology cycles, i.e., radical innovations, bring tremendous value to Society and build for the companies that deploy them sustainable competitive advantages. However, large firms have typically been relatively inefficient at accessing from academia or technology start-ups such technological leaps. Indeed, most multiyear and multimillion dollar academia-industry partnerships have historically not resulted in any acceleration of the rate of deployment of game-changing innovations, which empirically proceeds in 25 year cycles, such as for example the expansion of the scope of the pharmaceutical industry from small molecules to biologics, or, projecting into the future, to siRNA or therapeutic stem cell technologies. Syndicated innovation venturing is a new strategic partnering concept described here that brings together actors from different economic segments in a non zero-sum game as a means to facilitate seed-funding, with the aim to de-risk technologies while reducing initial financial exposures. A case study in the pharmaceutical industry suggests that alleviating this hurdle may provide an appropriate environment to improve the dynamics of academic technology transfer to the commercial phase. By contributing to the de-risking of the creation of novel biotechnology businesses, this novel mechanism could help speed up the commercialization of emerging technologies on a large scale. At a time when knowledge-based firms such as pharmaceutical companies attempt to revisit their innovation models to advance science, in spite of an environment of increasing risk-aversion, such responses could tilt the balance in favor of disruptive products and sustained corporate financial performance by removing common barriers to radical innovation deployment.

  6. 15 CFR 296.5 - Eligibility requirements for companies and joint ventures.

    Science.gov (United States)

    2010-01-01

    ... and joint ventures. 296.5 Section 296.5 Commerce and Foreign Trade Regulations Relating to Commerce... joint ventures. Companies and joint ventures must be eligible in order to receive funding under the... other company, to participate in any joint venture similar to those authorized to receive funding under...

  7. 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...

  8. The use and effect of social capital in new venture creation: Solo entrepreneurs vs. new venture teams

    OpenAIRE

    Cantner, Uwe; Stützer, Michael

    2010-01-01

    This paper examines the use of social capital in the venture creation process. We compare solo entrepreneurs (n=182) and new venture teams (n=274) from a random sample of start-ups in innovative industries and test social capital use and its effects on firm performance. Our results reveal that solo entrepreneurs and new venture teams do not differ in their degree of use of social capital. However, there are differences in the determinants of social capital use in both groups. We find that wea...

  9. Growing Our Workforce through Business and Education

    Science.gov (United States)

    Pauley, Douglas R.; Davidchik, Daniel

    2010-01-01

    In 2004, Central Community College (CCC) established the Mechatronics Education Center (MEC), a regional center of excellence, to help the state address the shortage of skilled technicians in the area of industrial automation. The MEC addresses the needs of the current and future workforce through the implementation of its three main components:…

  10. 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

  11. Toward a theory of international new venture survivability

    DEFF Research Database (Denmark)

    Turcan, Romeo V.

    2011-01-01

    technique was employed. The method of constructing typologies by reduction was employed to advance the typology of hype defined as the overall sentiment of the environmental context, within which the firm is embedded, about the future. Grounded in data, there emerged a middle-range theory of international......In this longitudinal study, we explore in-depth how entrepreneurs acquire legitimacy for their new ventures in an attempt to internationalise and survive before and after the dot.com bubble. We adopted a longitudinal multiple-case study methodology for the purpose of theory building. Five firms...... new venture survivability that postulates that the closer the new venture is to the hype, the higher the likelihood of failure. Several implications to the theory of new venture legitimacy could be singled out. The paper makes an attempt to understand the nature of a legitimacy threshold. The data...

  12. Venture Capital and Strategic Investment for Developing Government Mission Capabilities

    Science.gov (United States)

    2014-01-01

    Ecosystem ...43 ix Tables 2.1. Summary of the Innovation Ecosystem ...the information sharing between entrepreneurs and private venture capitalists. The degree to which this information has translated into effective

  13. Anthropogenic climate change in the Playa Lakes Joint Venture region

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — Anthropogenic climate change has been driving regional climate shifts in the Playa Lakes Joint Venture zone since at least the mid 1970s. As a result, summers are...

  14. 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.

  15. 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.

  16. 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...... not exist to a final condition in which it is institutionalized. The model addresses the case where the initial catalyst is the formation of an international new venture that is the seed for the birth of the industry. Since both the new venture and the new industry lack cognitive and socio-political...... building approach, data were collected over an eleven year period via in-depth interviews, participant observations, and unobtrusive data. The study puts forward a process model of new industry legitimation. The model theorizes the process of change from an initial condition in which an industry does...

  17. Self-selection and advice in venture capital finance

    OpenAIRE

    Keuschnigg, Christian; Nielsen, Søren Bo

    2007-01-01

    In financing start-up firms, venture capitalists carefully select among alternative projects, design incentive compatible financial contracts and support portfolio companies with value enhancing managerial advice. This paper considers how venture capitalists can induce self-selection among entrepreneurial firms with different qualities by designing appropriate contracts and offering commercial support. We study the efficiency of the competitive market equilibrium with respect to the level and...

  18. Risk-Return Profiles of New Ventures: An Empirical Study

    OpenAIRE

    Robert H. Keeley; Lassaad A. Turki

    1993-01-01

    This study examines how risk evolves in private, venture capital backed companies. It finds that the stochastic Ito processes assumed for public companies probably apply to young, private companies as well. However, the parameters, drift rate and standard deviation, are generally higher. Venture capitalists have viewed companies as evolving through stages, and this study assesses the probabilities of success and failure at each stage. The underlying process of price evolution appears much smo...

  19. 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.

  20. 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.

  1. Hold-up in Ventures for Technology Transfer

    OpenAIRE

    Spremann, Klaus

    2017-01-01

    Entrepreneurs and Investors found ventures for transferring technology and bringing it closer to the market. Focusing on a situation in which the investor exercises hold-up at the disadvantage of the entrepreneur, this paper works on three points: We identify (1) conditions which make hold-up possible, and discuss (2) measures which help entrepreneurs to protect themselves against hold-up. (3) The balance of powers in a venture is related to returns to scale. Overall, the paper contri...

  2. Sea snakes rarely venture far from home.

    Science.gov (United States)

    Lukoschek, Vimoksalehi; Shine, Richard

    2012-06-01

    The extent to which populations are connected by dispersal influences all aspects of their biology and informs the spatial scale of optimal conservation strategies. Obtaining direct estimates of dispersal is challenging, particularly in marine systems, with studies typically relying on indirect approaches to evaluate connectivity. To overcome this challenge, we combine information from an eight-year mark-recapture study with high-resolution genetic data to demonstrate extremely low dispersal and restricted gene flow at small spatial scales for a large, potentially mobile marine vertebrate, the turtleheaded sea snake (Emydocephalus annulatus). Our mark-recapture study indicated that adjacent bays in New Caledonia (snake populations. Sea snakes could easily swim between bays but rarely do so. Of 817 recaptures of marked snakes, only two snakes had moved between bays. We genotyped 136 snakes for 11 polymorphic microsatellite loci and found statistically significant genetic divergence between the two bays (F(ST)= 0.008, P snakes rarely venture far from home, which has strong implications for their ecology, evolution, and conservation.

  3. Fostering Entrepreneurship in a Changing Business Environment

    Directory of Open Access Journals (Sweden)

    Laurentiu Tachiciu

    2015-02-01

    Full Text Available Entrepreneurship is the cornerstone of a modern competitive economy. Because of the economic and social importance attributed to entrepreneurship, every country has adopted policies aiming to encourage and to support entrepreneurial attitudes and behaviors. Despite the fact that the set of public policy measures is very similar across countries and regions, the outcomes are different. The differences can be observed not only in quantitative terms (i.e. number of newly established ventures, but also in qualitative terms (i.e. proportion of innovative firms, intensity of knowledge and technological level, degree of internationalization etc.. Indeed, entrepreneurship takes different forms ranging from an alternative to employment (self-employed to creation of innovative, competitive and fast growing enterprises. It is also recognized the corporate entrepreneurship, the social entrepreneurship and even the entrepreneurship in the public sector. Different forms of entrepreneurship have a different impact in terms of general progress. Scholars have shown that context is an important factor explaining the variability of entrepreneurship outcomes, calling for a better understanding of the business environment influence on the intensity and quality of the entrepreneurial activity.

  4. Venture Capital Investment Selection Decision-making Base on Fuzzy Theory

    Science.gov (United States)

    Zhang, Xubo

    Venture capital investment decision-making is the most important issue in venture capital investment selection. There are higher uncertainty and complexity in venture capital investment decision-making process. This paper analysis these uncertain risk in venture capital investment decision-making base the previous studies. Attributed the venture capital candidate firms' select to fuzzy optimal decision-making. Build a risk-weight fuzzy optimal return model to avoid the decision-making risk. Get the optimal solution set.

  5. Polar Business Design

    Directory of Open Access Journals (Sweden)

    Sébastien Caisse

    2014-02-01

    Full Text Available Polar business design aims to enable entrepreneurs, managers, consultants, researchers, and business students to better tackle model-based analysis, creation, and transformation of businesses, ventures, and, more generically, collective endeavors of any size and purpose. It is based on a systems-thinking approach that builds on a few interrelated core concepts to create holistic visual frameworks. These core concepts act as poles linked by meaningful dyads, flows, and faces arranged in geometric shapes. The article presents two such polar frameworks as key findings in an ongoing analytic autoethnography: the three-pole Value−Activity−Stakeholder (VAS triquetra and the four-pole Offer−Creation−Character−Stakeholder (OCCS tetrahedron. The VAS triquetra is a more aggregated model of collective endeavors. The OCCS tetrahedron makes a trade-off between a steeper learning curve and deeper, richer representation potential. This article discusses how to use these two frameworks as well as their limits, and explores the potential that polar business design offers for future research.

  6. Business Development Corporation, Inc.

    Energy Technology Data Exchange (ETDEWEB)

    Jasek, S.

    1995-12-31

    Business Development Corporation, Inc., is a company specializing in opportunity seeking and business development activities in the {open_quotes}new{close_quotes} post communist Central and Eastern Europe, with particular emphasis on the Republics of Poland and Slovakia. The company currently focuses its expertise on strategic investing and business development between Central Europe and the United States of America. In Poland and Slovakia, the company specializes in developing large scale energy and environmental {open_quotes}infrastructure{close_quotes} development projects on the federal, state, and local level. In addition, the company assists large state owned industries in the transformation and privatization process. Business Development Corporation has assisted and continues to assist in projects of national importance. The staff of experts advise numerous large Polish and Slovak companies, most owned or in the process of privatization, on matters of restructuring, finance, capital structure, strategic parternships or investors, mergers, acquisitions and joint ventures with U.S. based firms. The company also assists and advises on a variety of environmental and energy matters in the public and private sector.

  7. 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

  8. Business models and opportunities for cancer vaccine developers.

    Science.gov (United States)

    Kudrin, Alex

    2012-10-01

    Despite of growing oncology pipeline, cancer vaccines contribute only to a minor share of total oncology-attributed revenues. This is mainly because of a limited number of approved products and limited sales from products approved under compassionate or via early access entry in smaller and less developed markets. However revenue contribution from these products is extremely limited and it remains to be established whether developers are breaking even or achieving profitability with existing sales. Cancer vaccine field is well recognized for high development costs and risks, low historical rates of investment return and high probability of failures arising in ventures, partnerships and alliances. The cost of reimbursement for new oncology agents is not universally acceptable to payers limiting the potential for a global expansion, market access and reducing probability of commercial success. In addition, the innovation in cancer immunotherapy is currently focused in small and mid-size biotech companies and academic institutions struggling for investment. Existing R&D innovation models are deemed unsustainable in current "value-for-money" oriented healthcare environment. New business models should be much more open to collaborative, networked and federated styles, which could help to outreach global, markets and increase cost-efficiencies across an entire value chain. Lessons learned from some developing countries and especially from South Korea illustrate that further growth of cancer vaccine industry will depends not only on new business models but also will heavily rely on regional support and initiatives from different bodies, such as governments, payers and regulatory bodies.

  9. 13 CFR 126.616 - What requirements must a joint venture satisfy to submit an offer on a HUBZone contract?

    Science.gov (United States)

    2010-01-01

    ... must a joint venture satisfy to submit an offer on a HUBZone contract? A joint venture may submit an offer on a HUBZone contract if the joint venture meets all of the following requirements: (a) HUBZone joint venture. A qualified HUBZone SBC may enter into a joint venture with another qualified HUBZone SBC...

  10. VentureStar(trademark) Reaping the Benefits of the X-33 Program

    Science.gov (United States)

    Sumrall, J.; Lane, C.

    1998-01-01

    Major X-33 flight hardware has been delivered, and assembly of the vehicle is well underway in anticipation of its flight test program commencing in the summer of 1999. Attention has now turned to the operational VentureStar(trademark), the first single-stage-to-orbit (SSTO) reusable launch vehicle. Activities are grouped under two broad categories: (1) vehicle development and (2) market/business planning, each of which is discussed. The mission concept is presented for direct payload delivery to the International Space Station and to low Earth orbit, as well as payload delivery with an upper stage to Geosynchronous Transfer Orbit (GTO) and other high energy orbits. System requirements include flight segment and ground segment. Vehicle system sizing and design status is provided including the application of X-33 traceability and lessons learned. Technology applications to the VentureStar(trademark) are described including the structure, propellant tanks, thermal protection system, aerodynamics, subsystems, payload bay and propulsion. Developing a market driven low cost launch services system for the 21 st Century requires traditional and non-traditional ways of being able to forecast the evolution of the potential market. The challenge is balancing both the technical and financial assumptions of the market. This involves the need to provide a capability to meet market segments that in some cases are very speculative, while at the same time providing the financial community with a credible revenue stream.

  11. Lessons Learned in Student Venture Creation

    Science.gov (United States)

    Caner, Edward

    The Physics Entrepreneurship Master's Program (PEP) at Case Western Reserve University is now in its 15th year of operation. PEP is a 27 credit-hour Master of Science in Physics, Entrepreneurship Track. The curriculum can be tailored to the needs of each student. Coursework consists of graduate-level classes in science, business, intellectual property law, and innovation. A master's thesis is required that is based on a real-world project in innovation or entrepreneurship within an existing company or startup (possibly the student's). PEP faculty help students connect with mentors, advisors, partners, funding sources and job opportunities. In this talk I will chronicle several pitfalls that we have encountered with our ''real world'' student projects and start-up businesses, several of which met their complete demise despite showing great promise for success. I will discuss how we have learned to avoid most of these pitfalls by taking surprisingly simple actions.

  12. 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

  13. 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

  14. 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

  15. 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

  16. 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.

  17. The College of Business Internship Program: A Comprehensive Analysis of the First 10 Years

    Science.gov (United States)

    Beck, Charles E.; French, Monique

    2016-01-01

    Internships for academic credit serve as a joint venture between the university and the business communities, helping both groups meet their organizational objectives. Businesses gain qualified, temporary workers with verifiable skills for specific job needs. Administered properly, the academic credit does not merely certify on-the-job training,…

  18. Fail-Safe Entrepreneurship: Six Reasons You Shouldn't Start a Small Business.

    Science.gov (United States)

    Paradiso, James R.

    Given the statistic that 97 percent of all new businesses fail, it is unwise to enter into a new small business venture. Many aspiring entrepreneurs lack the characteristics and background they need to survive and instead display several common characteristics which predispose them to failure, such as being non-aggressive and casual, failing to…

  19. The impact of gender diversity on the performance of business teams: evidence from a field experiment.

    NARCIS (Netherlands)

    Hoogendoorn, S.; Oosterbeek, H.; van Praag, M.

    This paper reports about a field experiment conducted to estimate the impact of the share of women in business teams on their performance. Teams consisting of under-graduate students in business studies start up a venture as part of their curriculum. We manipulated the gender composition of teams

  20. The impact of gender diversity on the performance of business teams: evidence from a field experiment

    NARCIS (Netherlands)

    Hoogendoorn, S.; Oosterbeek, H.; van Praag, M.

    This paper reports about a field experiment conducted to estimate the impact of the share of women in business teams on their performance. Teams consisting of undergraduate students in business studies start up a venture as part of their curriculum. We manipulated the gender composition of teams and

  1. Globalizing High-Tech Business Models

    OpenAIRE

    Romeo V. Turcan

    2012-01-01

    In the early process of the emergence of new international ventures, entrepreneurs are constantly in a ‘tension extinguishing’ mode as they are trying to ease tensions in the organizational gestalt which consists of mutually supportive organizational system elements combined with appropriate resources and behavioral patterns. Two sources could be identified that effect these tensions, namely strategic experimentation and business model experimentation. For example, entrepreneurs are trying to...

  2. Analysis of Business Opportunities and Entrepreneurial Success in ...

    African Journals Online (AJOL)

    This study theoretically centred on an in-depth analysis of business opportunities and entrepreneurial success in Nigeria. It emphasized that entrepreneurs must have the vision and ability to conceptualize ideas transform into opportunities and values in order to become successful in their chosen ventures. These they could ...

  3. Leveraging Effectual Means through Business Plan Competition Participation

    Science.gov (United States)

    Watson, Kayleigh; McGowan, Pauric; Smith, Paul

    2015-01-01

    This paper explores whether the business plan competition (BPC), as a classically causational mechanism for extracurricular entrepreneurship education, can facilitate the development of the means that underpin an effectual approach to new venture creation. In-depth, open-ended qualitative interviews were conducted with participants in a regional…

  4. The Morality of Profit In Business: Transforming Waste Into Wealth ...

    African Journals Online (AJOL)

    The main argument of this theoretical paper is that the pursuit of honest profits in a voluntary market exchange is not only moral but also ingrained in human nature, in that human beings pursue activities that benefit them and avoid those that cause them loss. Through an examination of the Kenyan business venture called ...

  5. 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

  6. Strategies for International Development in Knowledge Intensive New Ventures

    DEFF Research Database (Denmark)

    Lassen, Astrid Heidemann; McKelvey, Maureen; Slepniov, Dmitrij

    2011-01-01

    The overall question dealt with in this paper is how and why KIE firms engage in international development. Based on five in-depth case studies we illustrate that in addition to the well-known factors of internationalization, KIE ventures show a number of anomalies, suggesting that KIE ventures...... internationalise for different reasons and in different manners than what has normally been portrayed in IB literature. We argue that such findings hold significant consequences for understanding future Asia-Euro collaboration, where traditional roles of European development vs. Asian manufacturing are challenged....

  7. 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...... was adopted for the purpose of theory building, relying on purposeful sampling the logic and power of which lie in selecting information-rich cases for study in depth. Six international new ventures were identified through the Moldovan Association of Private ICT Companies. Data were collected using two...

  8. Individual learning effects on knowledge transfer in international joint ventures

    DEFF Research Database (Denmark)

    Dao, Li Thuy; Napier, Nancy

    2016-01-01

    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......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...

  9. Growing Pains

    CERN Multimedia

    Katarina Anthony

    2013-01-01

    Heat expands and cold contracts: it’s a simple thermodynamic rule. But when temperatures swing from 300 K to near-absolute zero, this rule can mean a contraction of more than 80 metres across the LHC’s 27-km-long cryogenic system. Keeping this growth in check are compensators (a.k.a. bellows), which shrink and stretch in response to thermodynamic changes. Leak tests and X-rays now underway in the tunnel have revealed that these “joints” might be suffering from growing pains…   This 25-μm weld crack is thought to be the cause of the helium leaks. Prior to the LS1 warm-up, CERN’s cryogenic experts knew of two points in the machine’s cryogenic distribution system that were leaking helium. Fortunately, these leaks were sufficiently small, confined to known sub-sectors of the cryogenic line and – with help from the vacuum team (TE-VSC) – could easily be compensated for. But as the machine warmed up f...

  10. Business Ethics

    OpenAIRE

    Duong, Thi

    2016-01-01

    The goal of this paper is to present examples of business ethics issues. What is business ethics, things concerned in this field are and why it is needed and important when doing business? The concept of business ethics has connotations to provision, rules and standards in directing the behavior of actors in the business. Business ethics involves compliance with the law, the implementation of ethical responsibilities of a business, the protection of the rights of those who are related to the ...

  11. A Review of Cloud Business Models and Sustainability

    OpenAIRE

    Chang, V; Wills, G; De Roure, D

    2010-01-01

    This paper reviews current cloud computing business models and presents proposals on how organisations can achieve sustainability by adopting appropriate models. Using the Jericho Forum's Cloud Cube Model (CCM), we classify cloud computing business models into eight types: (1) Service Provider and Service Orientation; (2) Support and Services Contracts; (3) In-House Private Clouds; (4) All-In-One Enterprise Cloud; (5) One-Stop Resources and Services; (6) Government Funding; (7) Venture Capita...

  12. Developing corporate venture capabilities- the case of a european industrial conglomerate

    DEFF Research Database (Denmark)

    Skat-Rørdam, Peter

    The paper examines the role of replication in the development and governing of corporate ventures.......The paper examines the role of replication in the development and governing of corporate ventures....

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

    OpenAIRE

    Keuschnigg, Christian; Nielsen, Søren Bo

    2004-01-01

    In recent years, venture capital has become an important source for nancing young entrepreneurial rms. Given the apparently more innovative nature and extra value added of venture capital backed rms compared to other firms, policy makers have taken an increasing interest in an active venture capital industry. We explore how selected policy instruments determine the incentives of individuals to start up new rms and of venture capitalists to nance and advise them, and how policy thereby influen...

  14. Valuation of Early-Stage Ventures: Option Valuation Models vs. Traditional Approaches

    OpenAIRE

    Robert H. Keeley; Sanjeev Punjabi; Lassaad Turki

    1996-01-01

    This paper presents a new method for valuing early stage ventures, a method which views new ventures as multi-stage call options. It examines the traditional methods for valuing such ventures--the ubiquitous Discounted Cash Flow (DCF) Method using a risk adjusted discount rate, and the Venture Capital method which uses high discount rates to offset optimistic forecasts--and describes their conceptual disadvantages visa vis the Option Method. In order to make the Option Method a practical alte...

  15. Technopolis Ecosystem and MoneyTalks® Events as a facilitator of Venture Capital Financing

    OpenAIRE

    Pölönen, Olli

    2010-01-01

    The purpose of the Bachelor’s thesis is to find out the scale and size of Technopolis’ efforts in the venture capital financing ecosystem in Finland. The empirical part will give concrete figures over the magnitude of Technopolis Ecosystem and MoneyTalks® Events as a facilitator of Venture Capital Financing. Besides the figures, the thesis will incorporate theory of both networking and venture capital financing. Venture capital has become an indispensable resource for the emerging growth ...

  16. 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 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....

  17. Mediating Business

    DEFF Research Database (Denmark)

    and globally. The book explores the history of key innovations and innovators in the business press. It analyzes changes in the discourse of business journalism associated with the growth in business news and the development of new ways of framing business issues and events. Finally, it examines......"Mediating Business" is a study of the expansion of business journalism. Building on evidence from Denmark, Finland, Norway and Sweden, "Mediating Business" is a comparative and multidisciplinary study of one of the major transformations of the mass media and the realm of business - nationally...... the organizational implications of the increased media visibility of business and, in particular, the development of corporate governance and media relations....

  18. A strategic analysis of Business Objects' portal application

    OpenAIRE

    Kristinsson, Olafur Oskar

    2007-01-01

    Business Objects is the leading software firm producing business intelligence software. Business intelligence is a growing market. Small to medium businesses are increasingly looking at business intelligence. Business Objects' flagship product in the enterprise market is Business Objects XI and for medium-size companies it has Crystal Decisions. Portals are the front end for the two products. InfoView, Business Objects portal application, lacks a long-term strategy. This analysis evaluates...

  19. 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...

  20. 10 CFR 1021.216 - Procurement, financial assistance, and joint ventures.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Procurement, financial assistance, and joint ventures... joint ventures. (a) This section applies to DOE competitive and limited-source procurements, to awards of financial assistance by a competitive process, and to joint ventures entered into as a result of...

  1. 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...

  2. 78 FR 38308 - PK Ventures, Inc.; North Carolina; Notice Soliciting Applications

    Science.gov (United States)

    2013-06-26

    ... Energy Regulatory Commission PK Ventures, Inc.; North Carolina; Notice Soliciting Applications On April 30, 2010, PK Ventures, Inc. (licensee) filed a Notice of Intent (NOI) to file an application for a... current license.\\2\\ PK Ventures has not filed an application for a subsequent license for the Bynum...

  3. 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.

  4. 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…

  5. The geographic extent of venture capital externalities on innovation

    NARCIS (Netherlands)

    Kolympiris, C.; Kalaitzandonakes, N.

    2013-01-01

    A stream of literature has demonstrated that venture capital generates externalities that enhance the knowledge base of a given region and accordingly assist firms in high-technology industries to improve their innovative performance. What has gone largely unexamined in this literature is the

  6. Export Orientation among New Ventures and Economic Growth

    NARCIS (Netherlands)

    S.J.A. Hessels (Jolanda); A.J. van Stel (André)

    2007-01-01

    textabstractWhile it is generally acknowledged that entrepreneurship as well as export activity may both be important strategies for achieving national economic growth, it has remained unclear how export activity among new ventures is related to economic growth. This paper investigates whether the

  7. 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)

  8. Social capital of venture capitalists and start-up funding

    NARCIS (Netherlands)

    O.T. Alexy (Oliver); J.H. Block (Jörn); P.G. Sandner (Philipp); A.L.J. Ter Wal (Anne)

    2012-01-01

    textabstractHow does the social capital of venture capitalists (VCs) affect the funding of start-ups? By building on the rich social capital literature, we hypothesize a positive effect of VCs' social capital, derived from past syndication, on the amount of money that start-ups receive.

  9. 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

  10. R&D returns, market structure and research joint ventures

    DEFF Research Database (Denmark)

    Amir, Rabah

    2000-01-01

    (one firm endogenously exiting). Two research joint venture schemes and the noncooperative solution are compared. Due to built-in symmetry, a joint lab does not always lead to the best performance. Overall, our findings differ quite substantially from those based on strongly decreasing R&D returns...

  11. '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...

  12. Unraveling the Black Box of New Venture Team Processes

    DEFF Research Database (Denmark)

    Bjørnåli, Ekaterina S.; Knockaert, Mirjam; Foss, Nicolai Juul

    2017-01-01

    This chapter argues that new venture team (NVT) processes are relatively ill-understood in the entrepreneurship literature, and describes various theoretical and empirical research avenues that may be pursued in order to improve our understanding of these processes. It then focuses on the widely ...

  13. Internal and external hybrids and the nature of joint ventures

    NARCIS (Netherlands)

    Hennart, J.M.A.; Grandori, A.

    2013-01-01

    This chapter attempts to bring some clarity and consistency to the literature on hybrids, networks, and joint ventures. That literature is now a thicket of ambiguous concepts and mutually inconsistent theories. I use the tools of transaction cost theory to develop a comprehensive framework that

  14. 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

  15. 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

  16. Is Green the New Gold? Venture Capital and Green Entrepreneurship

    NARCIS (Netherlands)

    Mrkajic, Boris; Murtinu, Samuele; Scalera, Vittoria G.

    2018-01-01

    We test whether born-to-be-green represents a signal toward potential venture capital (VC) investors on a sample of Italian, independent, unlisted, high-tech entrepreneurial firms. We employ several identification strategies by controlling for the major potential signals, and the alleged selection

  17. 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...

  18. 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,…

  19. 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.

  20. 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

  1. 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

  2. Willingness to Venture into Agriculture-related Enterprises after ...

    African Journals Online (AJOL)

    NTL NG

    This study examined willingness to venture into agriculture-related enterprises after graduation among final year agriculture students of Federal University of Agriculture, Abeokuta (FUNAAB) by randomly sampling 120 final year students from the three agriculture colleges in the university with the aid of structured ...

  3. Integrated Business Planning

    OpenAIRE

    Jurečka, Peter

    2009-01-01

    Increasing competitive pressures on most markets force companies to continuously review the effectiveness and efficiencies of their operations. Traditional approach to business planning is becoming insufficient to cope with growing requirements on operational excellence. Concept of Integrated Business Planning (IBP) -- constituting the latest development stage of well-known Sales and Operations Planning (S&OP) -- is proposed as the right response on how to master the challenges of globalized ...

  4. Entrepreneurs vs. Business Plans: A Study of Practicality and Usefulness

    Directory of Open Access Journals (Sweden)

    Sam PD Anantadjaya

    2007-10-01

    Full Text Available In higher education, the topic on business plan is relatively studied in great details to note the importance on formulating business plans. Business plans are regarded as the reference point for business people; managers and members of the board of directors, to really realize the business activities. At least, the topic on business plan, which are discussed and studied in universities, ought to have its own value in the real business operations. Many entrepreneurs, however, face difficulties in formulating structural business plans. Many entrepreneurs may not actually formulate business plans as they are regarded important in many classrooms’ teaching, to provide necessary guidance toward corporate governance, opening up new business units, venture agreements, and/or expansion of business operations. Universities should provide connections between what is discussed in classrooms, and the implementation of such discussions in business practices. This research is intended to seek out relationships between the importance of structural business plans, and the practicality and usefulness of business plans for entrepreneurs in young organizations. The reference point for this research is business portfolio theory, both for individual and organization rational theory. One of such means discussed in this paper is the formulation and development of business plans to attract external funding in supporting the needs toward growth.

  5. Lean startup for materials ventures and other science-based ventures: under what conditions is it useful?

    NARCIS (Netherlands)

    Harms, Rainer; Marinakis, Yorgos; Walsh, Steven Thomas

    2015-01-01

    Materials-based ventures face a high degree of technology uncertainty and market uncertainty when engaging in the technology entrepreneurial process. Recently, the lean startup methodology (LSM) has been introduced to practice and education as an integrated approach on how entrepreneurs can resolve

  6. PECULIARITIES OF THE RENEWABLE ENERGY BUSINESS MODELS

    Directory of Open Access Journals (Sweden)

    BĂLOI Ionut-Cosmin

    2014-07-01

    Full Text Available By exploring the competitiveness of industries and companies, we could identify the factors whose importance is likely to generate competitive advantage. An inventory of content elements of the business model summarizes the clearest opportunities and prospects. The objectives developed throughout the paper want to identify the pillars of a renewable business model and to describe the strategic dimensions of their capitalisation in regional and national energy entrepreneurship. The trend of increasing the renewable energy business volume is driven by the entrepreneurs and company’s availability to try new markets, with many unpredictable implications and the willingness of these players or their creditors to spend their savings, in various forms, for the concerned projects. There is no alternative to intensive investment strategies, given that the small projects are not able to create high value and competitiveness for interested entrepreneurs. For this reason, the international practice shows that the business models in energy production are supported by partnerships and networks of entrepreneurs who are involved in the development of large projects. The most important feature of renewable business initiatives is on attracting the latest clean emerging technologies, and obviously the investors who can assume the risk of such great projects. The benefits of a well developed business model recommend a prudent approach in the launching in the investment strategies, because the competitive contexts hide always some dissatisfaction of the partners that endanger the business concept’s success. The small firms can develop a profitable business model by exploring the opportunity of the alliances, namely the particular joint ventures (association between Romanian and foreign firms. The advantages of joint venture's partners are considerable; they include access to expertise, resources and other assets that the partners could not achieve on their own

  7. 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.

  8. Values-Driven Business How to Change the World, Make Money, and Have Fun

    CERN Document Server

    Cohen, Ben

    2006-01-01

    In Values-Driven Business, Ben & Jerry's co-founder Ben Cohen and Social Venture Network chair Mal Warwick team up to provide you with a way to run your business for profit and personal satisfaction. This practical, down-to-earth book details every step in the process of creating and managing a business that will reflect your personal values, not force you to hide them.

  9. It's Just (Academic) Business: A Use Case in Improving Informatics Operations with Business Intelligence.

    Science.gov (United States)

    McIntosh, Leslie D; Zabarovskaya, Connie; Uhlmansiek, Mary

    2015-01-01

    Academic biomedical informatics cores are beholden to funding agencies, institutional administration, collaborating researchers, and external agencies for ongoing funding and support. Services provided and translational research outcomes are increasingly important to monitor, report and analyze, to demonstrate value provided to the organization and the greater scientific community. Thus, informatics operations are also business operations. As such, adopting business intelligence practices offers an opportunity to improve the efficiency of evaluation efforts while fulfilling reporting requirements. Organizing informatics development documentation, service requests, and work performed with adaptable tools have greatly facilitated these and related business activities within our informatics center. Through the identification and measurement of key performance indicators, informatics objectives and results are now quickly and nimbly assessed using dashboards. Acceptance of the informatics operation as a business venture and the adoption of business intelligence strategies has allowed for data-driven decision making, faster corrective action, and greater transparency for interested stakeholders.

  10. 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...

  11. 12 CFR 221.111 - Contribution to joint venture as extension of credit when the contribution is disproportionate to...

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Contribution to joint venture as extension of... joint venture as extension of credit when the contribution is disproportionate to the contributor's share in the venture's profits or losses. (a) The Board considered the question whether a joint venture...

  12. 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.

  13. NEW REGULATION OF PRIVATE EQUITY AND VENTURE CAPITAL FUNDS AND OPEN QUESTIONS

    Directory of Open Access Journals (Sweden)

    Suzana Audić Vuletić

    2017-01-01

    Full Text Available This article provides an analysis of the new regulation of private equity and venture capital funds which are in Croatian law regulated by Alternative Investment Funds Act and ordinances. These funds can offer their units only via private offering to primarily professional, i.e. qualifying investors. They invest mostly in shares and units of companies, including both companies in early (start-ups and in later stage of business. For the companies in which they invest, these funds are very signifi cant as they can provide capital for even small entrepreneurs which could not obtain fi nancing from traditional sources (e. g. banks. This article analyzes investment transactions between private equity (further in text: PE and venture capital (further in text: VC funds and the company in which they invest (portfolio company. PE and VC funds represent a new segment in the Croatian capital market which is still developing and whose potential is yet to be fully recognized. PE and VC funds are not regulated on the EU level. However, managers of AIFs, including PE and VC funds are under certain conditions. Authors shall analyze these legal sources, both on the EU and on the domestic level, with emphasis on the regulation of managers of AIFs when they acquire controlling stake in non-listed companies and issuers, which is of special interest to PE and VC funds due to their investment techniques. In that light, authors question if there is a mechanism which ensures that PE and VC funds act as a socially responsible shareholders/unitholders in portfolio companies (public accountability of the managers of AIFs. If so, authors argue the existence of possible confl ict of interest, as it is not clear in whose interest should managers of PE and VC funds act: in the interest of their investors or in the interest of the portfolio company.

  14. Survival and growth of high tech knowledge intensive firms : the impact of the VOC in business planning

    NARCIS (Netherlands)

    Englis, Basil George; Englis-Danskin, Paula; Ratinho, Tiago; Groen, Aard J.

    2012-01-01

    The need to bring the consumer’s voice into the startup firm and the business planning process has seldom been discussed. There is however, much debate about the role of business planning and new venture creation and success. Here, we extend this debate and advance our understanding of the

  15. Business models and business model innovation in a “Secure and Distributed Cloud Clustering (DISC) Society”

    DEFF Research Database (Denmark)

    Lindgren, Peter; Taran, Yariv

    2011-01-01

    The development and innovation of business models to a secure distributed cloud clustering society (DISC)—is indeed still a complex venture and has not been widely researched yet. Numerous types of security technologies are in these years proposed and in the “slip stream” of these the study...... of secure business models and how business models can be operated and innovated in a secure context have intensified tremendously. The development of new mobile and wireless security technologies gives hopes to really realize a secure cloud clustering society where business models can act and be innovated...... secure—but we still have some steps to go before we reach the final destination. The paper gives a conceptual futuristic outlook on behalf of the input from SW2010 and state of the art business model research to what we can expect of business Model and business model innovation in a future secure cloud...

  16. Development of New B2B Venture Corporate Brand Identity

    DEFF Research Database (Denmark)

    Törmälä, Minna; Gyrd-Jones, Richard I.

    2017-01-01

    capital of the organisation or the founder. We challenge this view in this paper from a conceptual and empirical perspective. Combining narrative theory and performativity theory this article suggests brand identity develops as a narrative performance. The study employs a narrative case analysis...... 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......The development and role of brand identity in new B2B ventures is not well explored despite the challenge for such organisations in establishing reputational legitimacy. Previous research defines corporate brand identity as stable and endogenous to the organisation based either on the reputational...

  17. Dynamic managerial capability of technology-based international new ventures

    DEFF Research Database (Denmark)

    Altshuler, Liliya

    2014-01-01

    The article focuses on long-term development of technology-based international new ventures (INVs) and discusses aspects of managing such ventures once they are past the initial success and rapid internationalization and enter the stable development phase. The study builds on an in-depth process...... case study of a technology-based INV conducted over the period of 3.5 years, starting 8 years into the firm’s history. This unique design has enabled close observation of the specific events and challenges the firm has been facing after its initial success, and of the aspects in the firm’s management...... of the dynamic managerial capability of technology-based INVs are conceptualized and summarized into a set of propositions and a model....

  18. Learning from Success & Failure: International Joint Ventures in Emerging Markets

    DEFF Research Database (Denmark)

    Nielsen, Ulrik B.

    The purpose of the Ph.D. dissertation is to examine how do joint learning influence management of international joint ventures in emerging markets? Entering and developing presence in emerging markets often require foreign firms to set up International Joint Ventures (IJVs) with local partners...... their expectations. Inter-partner learning has been proposed in the literature as a major cause of IJV instability. However, current research indicates that when IJV partners engage in joint learning to create new IJV-specific knowledge that benefits both partners it stabilizes and sustains the IJV. Yet, joint...... learning in IJVs have rarely been examined in the context of IJVs in emerging markets. This paucity of studies concerning joint learning and knowledge creation in IJVs have been noted at a critical research gap in the literature....

  19. Supporting Social Entrepreneurs - The effects of organizational maturity and business model on perceived support needs

    OpenAIRE

    Vandor, Peter; Millner, Reinhard; Hansen, Hinnerk

    2012-01-01

    Social Entrepreneurs tend to be characterized as "unusually resourceful in being relatively undaunted by scarce assets in pursuing their social venture" (Peredo/McLean 2006: 64) or "acting boldly without being limited by resources currently in hand" (Dees 2001: 4). Still, social entrepreneurs do not operate in a vacuum. They depend on various forms of support and resources to establish and grow their ventures and impact. Hence, the question of how to support social entrepreneurs and their ini...

  20. Blueprint and Approach to Grow Revenue in Small Technology Companies

    Directory of Open Access Journals (Sweden)

    Tony Bailetti

    2010-05-01

    Full Text Available This article examines a new approach to grow the revenue of small technology companies and technology startups. We name this new approach the business ecosystem approach. The article is organized into five sections. The first section provides a blueprint to grow revenue and an inventory of growth formulas that top management teams of small technology companies and founders of startups find useful. The second section briefly defines business ecosystems, keystones and platforms. The third section describes the business ecosystem approach to grow the revenue of small technology companies and technology startups. It compares the traditional and business ecosystem approaches to growing revenue; identifies when the business ecosystem approach works better than the traditional approach; explains what small companies and startups need to do to grow revenue using the business ecosystem approach; and describes the benefits and risks of implementing the business ecosystem approach. The fourth section compares three approaches to growing revenue and highlights the differences between i business ecosystems and development communities and ii the business ecosystem approach and outsourcing. The fifth section identifies the key decisions a small technology company or technology startup needs to make to become the keystone that anchors a business ecosystem.

  1. Conditional Allocation of Control Rights in Venture Capital Finance

    OpenAIRE

    Gebhardt, Georg; Schmidt, Klaus M.

    2006-01-01

    When a young entrepreneurial firm matures, it is often necessary to replace the founding entrepreneur by a professional manager. This replacement decision can be affected by the private benefits of control enjoyed by the entrepreneur which gives rise to a conflict of interest between the entrepreneur and the venture capitalist. We show that a combination of convertible securities and contingent control rights can be used to resolve this conflict efficiently. This contractual arrangement is fr...

  2. 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

  3. Knowledge sharing and learning for internationalisation within international joint ventures

    OpenAIRE

    Park, Jeong-Yang

    2013-01-01

    Though International Joint Ventures (IJVs) are widespread, their high failure rate, attributed to the difficulty of managing them, has increased interest in their management. IJV research has seen knowledge sharing and learning between partners to be essential for success, and has noted that this is easier when the international partners are culturally aligned with one another. The process of integrating knowledge across national boundaries and between people from dissimilar cultures is a cha...

  4. 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

  5. E-Commerce Infusion into Business Education--Encompassing the Realities of an Emerging Business Model.

    Science.gov (United States)

    Morrison, James L.; Oladunjoye, Ganiyu Titi

    2002-01-01

    A survey of 287 business faculty found that few were infusing electronic commerce topics into existing curricula despite its growing use in business. Responses were similar regardless of faculty gender, region, and program size or level. (SK)

  6. From Digital Disruption to Business Model Scalability

    DEFF Research Database (Denmark)

    Nielsen, Christian; Lund, Morten; Thomsen, Peter Poulsen

    2017-01-01

    as a response to digital disruption. A series of case studies illustrate that besides frequent existing messages in the business literature relating to the importance of creating agile businesses, both in growing and declining economies, as well as hard to copy value propositions or value propositions that take......This article discusses the terms disruption, digital disruption, business models and business model scalability. It illustrates how managers should be using these terms for the benefit of their business by developing business models capable of achieving exponentially increasing returns to scale...... will seldom lead to business model scalability capable of competing with digital disruption(s)....

  7. The Impact of e-Business Strategy on Home-Based Business

    Directory of Open Access Journals (Sweden)

    Rosnafisah Sulaiman

    2009-06-01

    Full Text Available The Internet technology has brought major changes to the way business is conducted today. Many terms have been coined to represent the electronic concepts and applications such as e-Business and e-Commerce terms. These terms are commonly used to represent the new transformation of business processes and transactions. In Malaysia, e-Business adoption has not only captured the interest of large organizations but it has also been acknowledged and adopted by small, medium and micro sized enterprises. Implementing e-Business requires significant changes in the company’s structure, culture, strategy, procedures and responsibilities. However, the challenges never stop people from venturing into this new business concept. The aim of this study is to look into e-Business potential for micro sized businesses that operates from home. In this study both qualitative and quantitative method are used. This paper present a review of the literature pertaining to e-Business, home-based business, the qualitative study and the early findings from the study.

  8. Business plan as a source of information for making business decisions

    Directory of Open Access Journals (Sweden)

    Boškov Veronika

    2016-01-01

    Full Text Available For the successful development and business support, it is necessary to inform all interested parties about the structure of the transaction, future development plans, the resources needed for the realization, the effects which we plan to achieve and of course financial outcomes that will follow from that job. The business plan is important precondition for starting any business venture, as well as for realisation of that business. Modern business conditions are characterized by intensive changes in the market, strong competition and increasingly demanding customers. Modern business involves meticulous market research and the possibility of profitable use of capital, which is achieved through the simulation of a business plan. It could be said that a business plan is a map of activities for developing business ideas, with all the necessary activities and resources - a map that has been tested and tested/checked first on paper. The business plan does not guarantee the company success, but is definitely a secure way to increase the likelihood of success and present a set of projected activities through the relevant, understandable and accurate information. The results of these activities are appeling to all stakeholders and motivate them to achieve set goals.

  9. Theory Building- Towards an understanding of business model innovation processes

    DEFF Research Database (Denmark)

    Taran, Yariv; Boer, Harry; Lindgren, Peter

    2009-01-01

    Companies today, in some industries more than others, invest more capital and resources just to stay competitive, develop more diverse solutions, and increasingly start to think more radically, when considering to innovate their business model. However, the development and innovation of business ...... by proposing a generic process to business model innovation, supported by risk management processes. .......Companies today, in some industries more than others, invest more capital and resources just to stay competitive, develop more diverse solutions, and increasingly start to think more radically, when considering to innovate their business model. However, the development and innovation of business...... models is a complex venture and has not been widely researched yet. The objective of this paper is therefore 1) to build a [descriptive] theoretical understanding, based on Christensen's (2005) three-step procedure, to business models and their innovation and, as a result of that, 2) to strengthen...

  10. Towards an understanding of business model innovation processes

    DEFF Research Database (Denmark)

    Taran, Yariv; Boer, Harry; Lindgren, Peter

    2009-01-01

    Companies today, in some industries more than others, invest more capital and resources just to stay competitive, develop more diverse solutions, and increasingly start to think more radically, when considering to innovate their business model. However, the development and innovation of business ...... by proposing a generic process to business model innovation, supported by risk management processes.......Companies today, in some industries more than others, invest more capital and resources just to stay competitive, develop more diverse solutions, and increasingly start to think more radically, when considering to innovate their business model. However, the development and innovation of business...... models is a complex venture and has not been widely researched yet. The objective of this paper is therefore 1) to build a [descriptive] theoretical understanding, based on Christensen’s (2005) three-step procedure, to business models and their innovation and, as a result of that, 2) to strengthen...

  11. 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.

  12. Business Center

    Science.gov (United States)

    Learn how to do business with EPA's Clean Air Markets, including registering to use the Emissions Collection and Monitoring Plan System (ECMPS), the CAMD Business System (CBS), and learn how to submit monitored emissions data.

  13. Progressive Business

    DEFF Research Database (Denmark)

    Christiansen, Christian O.

    2016-01-01

    Guest Post to the Society for U.S. Intellectual History Blog. Brief introduction to the book Progressive Business: An Intellectual History of the Role of Business in American Society, Oxford U.P., 2015.......Guest Post to the Society for U.S. Intellectual History Blog. Brief introduction to the book Progressive Business: An Intellectual History of the Role of Business in American Society, Oxford U.P., 2015....

  14. Sustainable Business Models through Service Design

    NARCIS (Netherlands)

    Prendeville, S.M.; Bocken, N.M.P.

    2017-01-01

    In the face of growing sustainability challenges, pressure on businesses to decouple environmental impacts from growth is mounting. New sustainable business models can be a systemic driver for change in industry and the wider business innovation literature suggests that strategic design approaches

  15. The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists, and Oligopolists

    OpenAIRE

    Norbäck, Pehr-Johan; Persson, Lars

    2004-01-01

    Exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent firms, due to strategic product market effects. This will increase the price for basic innovations, thereby triggering more such innovations by entrepreneurs. Consequently, a venture capital market implies that more innovations are created, and that ...

  16. 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 ...

  17. The Impact of Corporate Venturing on a Firm’s Competence Modes

    OpenAIRE

    Burgers, Henri; Bosch, Frans; Volberda, Henk

    2007-01-01

    textabstractIn this conceptual paper we investigate how corporate venturing influences an organization’s competences. The impact of various types of corporate ventures on the portfolio of strategic options of a firm’s competence modes (Sanchez, 2004a; Sanchez and Heene, 2002) will be assessed by distinguishing two fundamentally different dimensions of corporate venturing, technology and product (Block & MacMillan, 1993). We argue that the level of product and factor market dynamism mediates t...

  18. E-Business: The Business Officer's Business.

    Science.gov (United States)

    Olson, Mark A.

    2001-01-01

    Contends e-business is particularly the domain of college and university business officers, with today's officers facing an unprecedented opportunity to exercise a critical leadership role in the deployment of advanced information technology solutions on campus. Describes relevant issues and advances, and presents ten initiatives that business…

  19. Playful Business

    DEFF Research Database (Denmark)

    Lund, Morten; Hansen, Poul H. Kyvsgård; Nielsen, Louise Møller

    2011-01-01

    ” The term business model can be defined as a business concept that has been put into practice. The increase in dynamics in markets, technology, economies etc. challenge the requirements to make consistent and synchronized decisions on which business models to develop and implement. Complexity se...

  20. SMEs perspective on venture capital investment criteria - A study of Croatian SMEs

    Directory of Open Access Journals (Sweden)

    Marija Šimić Šarić

    2017-01-01

    Full Text Available The importance of small and medium sized enterprises (SMEs for the economy is indisputable. However, SMEs worldwide, including Croatian ones, have difficulties in accessing financing sources, primarily the alternative ones like venture capital. Seeking venture capital for entrepreneurs is a big challenge because of the absence of unique venture capital investment criteria and investment process. Less than 3% of the entrepreneurs succeed in attracting venture capital. In order to increase the chances of obtaining venture capital in the first phase, this study seeks to explain the required venture capital investment criteria from the perspective of SMEs. To the author’s best knowledge, no studies have to date been undertaken specifically on venture capital investment criteria in Croatia. Final results suggest that that the SME manager/owner (manager/owner of SMEs who seeks to attract venture capital is a male, aged between 35-44, has an BSc academic degree and the company is privately owned. Regarding the profile characteristics, the results show that, looking from the point of the SME manager/owner, goal orientation and hard work are the most important factors for seeking venture capital in the first phase, followed by innovation and reasonable risk-taking.

  1. 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.

  2. Growing and Growing: Promoting Functional Thinking with Geometric Growing Patterns

    Science.gov (United States)

    Markworth, Kimberly A.

    2010-01-01

    Design research methodology is used in this study to develop an empirically-substantiated instruction theory about students' development of functional thinking in the context of geometric growing patterns. The two research questions are: (1) How does students' functional thinking develop in the context of geometric growing patterns? (2) What are…

  3. BUSINESS ETHICS

    OpenAIRE

    Nelu BURCEA; Croitoru, Ion

    2014-01-01

    Through this study we seek to explore the concept of business ethics, in those aspects that we consider to be essential and concrete. We started from a few questions: Could the two concepts be compatible? If not, why not? If yes, could they be complementary? How real is the use of ethics in the profits of a business? How can be business ethics be exemplified and what principles are essential in doing business? How does the business environment react to the concept? These are some of the eleme...

  4. 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.

  5. The Performance of Publicly Traded European Venture Capital Companies

    OpenAIRE

    Sophie Manigart; Peter Joos; Donaat De Vos

    1994-01-01

    The stock market return and the risk of 33 quoted European venture capital companies during the period 1977-1991 are studied. The return is negative on average with eight of the 33 companies having a return that is higher than the market return. However, the systematic risk (measured by the beta of the stock) is lower than the market risk. When taking the risk into account, no company has a return that is significantly higher than zero, but four companies have a return that is significantly l...

  6. Business support within business incubators.

    NARCIS (Netherlands)

    Ratinho, Tiago; Harms, Rainer; Groen, Arend J.

    2009-01-01

    Business incubators (BI) have been established worldwide as tools for company creation and small businesses support. BIs claim to help their tenants by providing them with the optimal conditions for increasing early stage survival. Practitioners and researchers agree that business support is a

  7. Business support within business incubators

    NARCIS (Netherlands)

    Ratinho, Tiago; Harms, Rainer; Groen, Arend J.

    2009-01-01

    Business incubators (BI) have been established worldwide as tools for company creation and small businesses support. BIs claim to help their tenants by providing them with the optimal conditions for increasing early stage survival. Practitioners and researchers agree that business support is a

  8. Business model for business rules

    NARCIS (Netherlands)

    Eline Haan; Koen Smit; Martin Zoet

    2014-01-01

    Business rule models are widely applied, standalone and embedded in smart objects. They have become segregated from information technology and they are now a valuable asset in their own right. As more business rule models are becoming assets, business models to monetize these assets are designed.

  9. Acquisitions, Joint Ventures or Arm’s-Length Alliances? Analyzing the Determinants of the Choice of Growth Strategy in Brazil from 1996 through 2007

    Directory of Open Access Journals (Sweden)

    Eduardo Kazuo Kayo

    2010-10-01

    Full Text Available This paper analyses the determinants of the choice among different firm growth strategies: acquisitions, joint ventures or arm’s-length alliances. Several theoretical perspectives offer a background to understanding how firms make this choice. However, most empirical studies in this field have been derived from firms in developed countries. In contrast, we turn our attention to the analysis of the growth process of firms in a particular developing country, Brazil. The results mostly support the learning perspective of the firm’s choice. In general, a firm’s previous experience in a specific strategy (e.g.: joint ventures is significant to determine its future choice for the same strategy as a path to grow. Extending previous studies, we introduced some financial factors as explanatory variables but they showed no statistical significance.

  10. Evaluation of spacecraft technology programs (effects on communication satellite business ventures), volume 2

    Science.gov (United States)

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

    1985-01-01

    The computational procedures used in the evaluation of spacecraft technology programs that impact upon commercial communication satellite operations are discussed. Computer programs and data bases are described.

  11. The Netherlands: A joint venture of clubs, businesses, municipalities and schools in sport

    NARCIS (Netherlands)

    Breedveld, K.; Kuipers, A.; Laine, A.; Vehmas, H.

    2017-01-01

    In the Netherlands, sport is rooted in a long-lasting tradition of non-profit private initiatives. These origins are still visible in the great number of sport clubs and volunteers that shape today’s Dutch sport landscape. The last decades however, have seen a growth in commercial

  12. THE ATTRACTIVENESS OF ROMANIA FOR VENTURE CAPITAL AND PRIVATE EQUITY INVESTORS

    Directory of Open Access Journals (Sweden)

    BUZILǍ Brîndușa Maria

    2012-06-01

    Full Text Available This report examines Romania’s attractiveness for investors in terms of each of the six key drivers suggested by Groh, et al (2010 study: Economic Activity, Depth of Capital Market, Taxation, Investor Protection and Corporate Governance, Human and Social Environment, and Entrepreneurial Culture. The findings indicate that final position in Groh’s - The attractiveness of 27 European countries for Venture Capital and private Equity investors - top is justified. Nevertheless, the Romanian decision-makers managed, through considerable efforts, by means of various programs developed together with several European and international institutions, to create certain opportunities of improvement of the Romanian entrepreneurial environment and stimulation of innovation. This paper has certain limits; therefore the future research in this field might lead to a more thorough analysis of the difficulties that Romania faces in attracting private equity investors. The methods employed have in view the results from the literature in this field regarding the research issue, the US Commercial Service’s recommendations (Doing Business in Romania: 2013 and various statistics. Competent opinions in this field have been analyzed: investors, authorities, organizations, institutions.

  13. Philanthropies croisées: a joint venture in public health at Lyon (1917-1940).

    Science.gov (United States)

    Saunier, Pierre-Yves; Tournès, Ludovic

    2009-01-01

    Since the end of the First World War the Rockefeller Foundation has spearheaded a large-scale programme in the field of education for the health professions (doctors and nurses). In several countries throughout the world, but with its efforts concentrated on Europe, it has financed schools, constructed information networks, granted research scholarships and awarded training bursaries. In so doing it has not, however, been in the business of propagating an irresistible "American model," nor has it pursued a huge undertaking in disinterested aid. Through an attempt to contextualize these programmes, to bring to light the existence of common reference points, to retrace the work with local participants and to appraise cleavages within the philanthropic apparatus, this article proposes a fine-grained reading of the role of the Rockefeller Foundation at the Faculté de Médecine (Faculty of Medicine) and the Ecole d'Infirmières et d'assistantes sociales (Training School for Nurses and Social Workers) in Lyon between 1917- and 1940. It analyses these institutions in terms of the transactions, negotiations and appropriations that highlight their joint-venture character and it identifies their varied impact.

  14. Syndicated Investing in Private Equity and Venture Capital Industry: Comparing BRICS

    Directory of Open Access Journals (Sweden)

    Lucas V.B. Martins

    2015-04-01

    Full Text Available Objective. This article characterizes and compares the networks structure formed by Managing Organizations (GOs Private Equity and Venture Capital (PE&VC that co-invested in the so called BRICS countries.Methodology. The methodology used consists of PE or VC transactions with target companies based on the BRICS and involving more than one investor, or “syndicated investing”, between 1992 and 2013.Findings. The analysis revealed that the social structure in these countries is highly clustered, showing the existence of small worlds in all markets studied, yet under different intensities. This type of structure stimulates the flow of information impacting access to business opportunities. The results suggest that, when dealing with networks of PE&VC investors, one should consider the particularities of BRICS, which are not homogeneous from the perspective of network analysis.Limitations. This study considers only data from transactions originated and the effect known as BRICS.Originality/Value. This article offers unique contribution in that it explores Syndicated Investing in understudied markets, employing a methodology that provides new results. Copyright © 2015 Instituto Brasileiro de Inovação Financeira All rights reserved

  15. JM Maweu The Morality of Profit in Business pp75-89

    African Journals Online (AJOL)

    JM Maweu

    Many enterprising Kenyans have embraced a new business model guided by market based solutions to poverty. ... innovatively went for it. Ecotact is a social enterprise that invests in environmental ventures that ... research with the Jomo Kenyatta University of Agriculture and Technology on the use of urine as Agricultural ...

  16. 75 FR 74001 - Application Deadline Extended; Secretarial Business India High Technology Mission

    Science.gov (United States)

    2010-11-30

    ... Gary Locke will lead a senior-level business development trade mission to New Delhi, Mumbai and....S. companies, including joint ventures and export opportunities. In each city participants will have... upon approval. Applications can be completed on-line at the India High Technology Development Missions...

  17. Training and Learning as Drivers of US Microenterprise Business Plan Quality

    Science.gov (United States)

    Cook, Ronald G.; Belliveau, Paul; Sandberg, Mark E.

    2004-01-01

    This study examined the output quality of a US microenterprise training program created to help entrepreneurs develop business plans for their ventures. The program concludes with the entrepreneurs' plans being scored by a panel of experts. Hypotheses were developed and tested to determine the importance of feedback, key components of business…

  18. An Entrepreneurial Strand in the Business Law Course: The Ice Cream Project

    Science.gov (United States)

    Robson, Regina M.

    2009-01-01

    America is a nation of entrepreneurs. Whether engaged in a start-up operation, managing a family business, or as part of an entrepreneurial venture within a larger entity, American entrepreneurs have provided the vision and energy that have powered the U.S. economy for the last century. Educating entrepreneurs presents special challenges,…

  19. Entrepreneurial Intention and Startup Preparation: A Study among Business Students in Malaysia

    Science.gov (United States)

    Mamun, Abdullah Al; Nawi, Noorshella Binti Che; Mohiuddin, Muhammad; Shamsudin, Siti Farhah Fazira Binti; Fazal, Syed Ali

    2017-01-01

    Intention, as the starting point of pursuing self-employment and creating new ventures, is crucial before actually establishing a business enterprise. Entrepreneurship is understood to be an essential ingredient for enhancing a country's economic competitiveness, growth, and sustainability while confronting the escalating challenges of…

  20. 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.

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. Social Business

    Directory of Open Access Journals (Sweden)

    Maria Cristina ENACHE

    2015-09-01

    Full Text Available The field of social business is growing rapidly and attracting increased attention from many sectors. The term itself shows up frequently in the media, is referenced by public officials, have become common on universities. The reasons behind the popularity of social entrepreneurship are many. On the most basic level, there’s something inherently interesting and appealing about entrepreneurs and the stories of why and how they do what they do. The interest in social entrepreneurship transcends the phenomenon of popularity and fascination with people. Social entrepreneurship signals the imperative to drive social change, and it is that potential payoff, with its lasting, transformational benefit to society, that sets the field and its practitioners apart. Although the potential benefits offered by social entrepreneurship are clear to many of those promoting and funding these activities, the actual definition of what social entrepreneurs do to produce this order of magnitude return is less clear. In fact, we would argue that the definition of social entrepreneurship today is anything but clear. As a result, social entrepreneurship has become so inclusive that it now has an immense tent into which all manner of socially beneficial activities fit. In some respects this inclusiveness could be a good thing. If we can achieve a rigorous definition, then those who support social entrepreneurship can focus their resources on building and strengthening a concrete and identifiable field. Absent that discipline, proponents of social entrepreneurship run the risk of giving the skeptics an ever-expanding target to shoot at, and the cynics even more reason to discount social innovation and those who drive it.

  6. Medicine as a business.

    Science.gov (United States)

    Matthews, Merrill

    2004-09-01

    There is a growing debate over whether medicine should function like a business, guided, as businesses are, by concerns such as profits and customer satisfaction. Of course, for-profit businesses already permeate medicine, and those businesses are not confused about their priorities: providing high quality goods and services people want, at affordable prices. These companies know that they must do well in order to continue doing good. Critics of the business model argue that the profit motive makes health care too expensive and that only by nationalizing the health care system can doctors provide high quality care at an affordable cost to society. However, a survey of journals and newspaper articles about the Canadian health care system, often cited as an anti-business model for U.S. reform, reveals that quality has suffered significantly under that system. Patients wait in long lines for health care, and sometimes cannot get help at all. This paper argues that incentives in the U.S. health care system are complicated, and that health care needs to work more like a business--not less. Doctors don't know whom they are serving--patients, insurers, employers or the government--because it is usually someone other than the patient who it paying the bill. The way to get the incentives structured properly is to allow patients to control more of their health care dollars--perhaps through a system of Medical Savings Accounts. Following the business model is the only way to ensure that medicine provides high quality services at affordable prices--just like every other sector of the economy.

  7. The business of demographics.

    Science.gov (United States)

    Russell, C

    1984-06-01

    The emergence of "demographics" in the past 15 years is a vital tool for American business research and planning. Tracing demographic trends became important for businesses when traditional consumer markets splintered with the enormous changes since the 1960s in US population growth, age structure, geographic distribution, income, education, living arrangements, and life-styles. The mass of reliable, small-area demographic data needed for market estimates and projections became available with the electronic census--public release of Census Bureau census and survey data on computer tape, beginning with the 1970 census. Census Bureau tapes as well as printed reports and microfiche are now widely accessible at low cost through summary tape processing centers designated by the bureau and its 12 regional offices and State Data Center Program. Data accessibility, plummeting computer costs, and businessess' unfamiliarity with demographics spawned the private data industry. By 1984, 70 private companies were offering demographic services to business clients--customized information repackaged from public data or drawn from proprietary data bases created from such data. Critics protest the for-profit use of public data by companies able to afford expensive mainframe computer technology. Business people defend their rights to public data as taxpaying ceitzens, but they must ensure that the data are indeed used for the public good. They must also question the quality of demographic data generated by private companies. Business' demographic expertise will improve when business schools offer training in demography, as few now do, though 40 of 88 graduate-level demographic programs now include business-oriented courses. Lower cost, easier access to business demographics is growing as more census data become available on microcomputer diskettes and through on-line linkages with large data bases--from private data companies and the Census Bureau itself. A directory of private and

  8. [ADVANCE: America`s economic Development Venture for Area Neighborhoods, Communities, and Enterprises]. Quarterly progress report -- Year two

    Energy Technology Data Exchange (ETDEWEB)

    McDavid, R.A.

    1998-12-01

    The US Department of Energy (DOE) has a mission to foster a secure and reliable energy system that is environmentally and economically sustainable, to be a responsible steward of the Nation`s nuclear weapons, to clean up decommissioned facilities, and to support continued US leadership in science and technology. To effectively utilize and integrate its mission, DOE has created the Regional Environmental Technology and Business Development Office (RETBDO) serving as a Community Reuse Organization, a stakeholder organization, which represents interests and economic concerns of communities surrounding DOE sites that are being closed or reconfigured. RETBDO is a branch office of ADVANCE, a 501(c) (3) non-profit organization established in 1994. The mission of RETBDO is to diversify the economy by creating an environment conductive to improve the representation of minorities and small businesses in the region and to assure fair business participation in major environmental decision-making, technology based start-ups, expansion management, and the attractive of new ventures to the Southwest region, including, bu not limited to, California, Nevada, Utah, Colorado, Arizona, New Mexico, and Texas. This report describes the RETBDO program and its implementation.

  9. How to create an effective venture capitalist–entrepreneur relationship : An entrepreneur’s perspective

    NARCIS (Netherlands)

    Dijk, van E.; Schrevel, L.; Blomme, R.J.; Stormbroek-Burgers, van R.G.B.M.

    2014-01-01

    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

  10. 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.

  11. CEE-ing is believing: bioscience ventures in Central and Eastern Europe.

    Science.gov (United States)

    Lamb, Katrina

    2011-09-15

    Bioscience ventures in Central and Eastern Europe are becoming a presence in world healthcare markets despite a perennially short supply of venture funding and other support mechanisms relative to other world economic regions. Here are three up-and-coming CEE stories worth keeping an eye on.

  12. Management control patterns in joint venture relationships : A model and an exploratory study

    NARCIS (Netherlands)

    Kamminga, Pieter E.; Van der Meer-Kooistra, Jeltje

    2007-01-01

    Joint ventures provide advantages to parent companies, for instance by gaining quick access to new resources. However, their shared ownership gives rise to complexities involving control issues. We propose an integrated model of joint venture control, which adds relational issues to the TCE

  13. 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 ?...

  14. 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)

  15. 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

  16. 15 CFR 296.9 - Activities not permitted for joint ventures.

    Science.gov (United States)

    2010-01-01

    ... marketing of proprietary information, such as patents and trade secrets, developed through such venture, or... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Activities not permitted for joint ventures. 296.9 Section 296.9 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade...

  17. Study Of the Pattern And Trend Of Venture Capital Financing In India Since Liberalization

    OpenAIRE

    Somani, Samridhi

    2008-01-01

    It basically refers to the study of venture capital financing in India,its pattern since 1986 till present in the thesis data has been collected till present.Detailed study has been conducted in order to observe the changes in venture capital regulation,pattern and comparision between private and public sector firms etc.

  18. 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

  19. 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

  20. Formal institutions, culture, and venture capital activity: A cross-country analysis

    NARCIS (Netherlands)

    Yong, L.; Zahra, Shaker

    2012-01-01

    Why does the level of venture capital activity vary across countries? This study suggests that the variation can be attributed to the different levels of formal institutional development. Further, this study proposes that venture capitalists respond differently to the incentives provided by formal

  1. The Impact of Corporate Venturing on a Firm’s Competence Modes

    NARCIS (Netherlands)

    J.H. Burgers (Henri); F.A.J. van den Bosch (Frans); H.W. Volberda (Henk)

    2007-01-01

    textabstractIn this conceptual paper we investigate how corporate venturing influences an organization’s competences. The impact of various types of corporate ventures on the portfolio of strategic options of a firm’s competence modes (Sanchez, 2004a; Sanchez and Heene, 2002) will be assessed by

  2. 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…

  3. 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

  4. Business Incubation in Chile: Development, Financing and Financial Services

    Directory of Open Access Journals (Sweden)

    Aruna Chandra

    2012-07-01

    Full Text Available Business incubation in Chile is still in its nascent stages, with approximately 27 incubators supported primarily by a coalition of government and universities. Chilean business incubators tend to capitalize on regional resource strengths and have a strategic focus on high growth, high innovation, high impact businesses as a result of a government mandate to focus on developing business with high potential for economic development and job creation. The government’s efforts to create the framework conditions for entrepreneurship by investing in business incubators, organizing risk capital for early stage ventures to fill capital market gaps and support for angel networks as well as incubator funding are discussed. Policy implications for the continued growth of the incubation industry are provided.

  5. Disrupting Business

    DEFF Research Database (Denmark)

    Cox, Geoff; Bazzichelli, Tatiana

    Disruptive Business explores some of the interconnections between art, activism and the business concept of disruptive innovation. With a backdrop of the crisis of financial capitalism, austerity cuts in the cultural sphere, the idea is to focus on potential art strategies in relation to a broken...... economy. In a perverse way, we ask whether this presents new opportunities for cultural producers to achieve more autonomy over their production process. If it is indeed possible, or desirable, what alternative business models emerge? The book is concerned broadly with business as material for reinvention...

  6. 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...... et al., 1985). Thus, depending on the institutional settings venture capitalists and start-ups may rely on diffusion of experience in various degrees. Experiences can diffuse from the US, where venture capitalism as an entrepreneurial form evolved in Silicon Valley in the 1970s. In the US venture...... capitalists represent an institutionalized type of organization with formalized rules and standards, codified be-havior and roles (Suchman, 1995; Suchman et al., 2001). European venture capitalists and start-ups may imitate behavior and rules developed in Silicon Valley, and thus, a second research objective...

  7. On Differences between General English Teaching and Business English Teaching

    Science.gov (United States)

    Zhu, Wenzhong; Liao, Fang

    2008-01-01

    With the accelerating rate of globalization, business exchanges are carried out cross the border, as a result there is a growing demand for talents professional both in English and Business. We can see that at present Business English courses are offered by many language schools in the aim of meeting the need for Business English talent. Many…

  8. Growing media [Chapter 5

    Science.gov (United States)

    Douglass F. Jacobs; Thomas D. Landis; Tara Luna

    2009-01-01

    Selecting the proper growing medium is one of the most important considerations in nursery plant production. A growing medium can be defined as a substance through which roots grow and extract water and nutrients. In native plant nurseries, a growing medium can consist of native soil but is more commonly an "artificial soil" composed of materials such as peat...

  9. The voice from the periphery: Towards an African business ethics beyond the Western heritage

    Directory of Open Access Journals (Sweden)

    MF Murove

    2014-08-01

    Full Text Available This article argues that African business ethics should go beyond the western heritage by taking into account African indigenous values and knowledge systems. While western business practices are part and parcel of Africa’s heritage, African post-colonial scholarly efforts have worked at enriching this heritage by arguing for the incorporation of African indigenous knowledge systems and values in our way of thinking and doing business. There is a realisation that the western homo economicus who is solely self-interested, is irreconcilable with the African understanding of a person. The success of any business venture in Africa depends on incorporating African values in the way it operates.

  10. Investors' perspective and needs in the process of developing a business plan

    Directory of Open Access Journals (Sweden)

    Stankov Biljana

    2015-01-01

    Full Text Available A business plan is a very important written document about the current state and future intentions of the company and it meets the information and other needs of a wide range of users, regardless of the size of the company and its organizational structure, or belonging to particular economic activity; regardless of the stage of the life cycle in which the company is located and the like . A business plan is written by the existing, established companies for different needs as well as by startup companies that are eager to show the profitability of the business venture and the success of business ideas realization. The business plan often stands out as a means to establish initial communication between entrepreneurs and financing sources, as well as for their initial meeting. The research problem relates to highlighting the business plan as a very powerful means in the hands of entrepreneurs in applying for obtaining the necessary financial resources. The subject of the research includes the analysis of the differences between the many users of a business plan with an emphasis on commercial banks, investment funds and private investors, as financiers of the business venture and the most important users. The aim of the research relates to highlighting the needs of investors and appreciation of their perspectives in the process of developing a business plan, because without a quality business plan investor is at risk of unsafe moving through a very uncertain and changing environment.

  11. Financial issues for commercial space ventures: Paying for the dreams

    Science.gov (United States)

    Egan, J. J.

    1984-01-01

    Various financial issues involved in commercial space enterprise are discussed. Particular emphasis is placed on the materials processing area: the current state of business plan and financial developments, what is needed for enhanced probability of success of future materials development efforts in attracting financial backing, and finally, the risks involved in this entire business area.

  12. Socially Conscious Ventures and Experiential Learning: Perceptions of Student Engagement

    Science.gov (United States)

    Vasbinder, William; Koehler, William

    2015-01-01

    This qualitative study explored stakeholder perceptions of the outcomes of semester-long experiential learning projects in five selected business courses at a small, private college. Students worked with the owners of socially conscious startup firms to develop and present strategic marketing and business plans. The work draws upon interviews with…

  13. Should government support business angel networks? The tale of Danish business angels network

    DEFF Research Database (Denmark)

    Christensen, Jesper Lindgaard

    2011-01-01

    . This article discusses the possible rationale for governments to support BANs and what criteria to apply when evaluating such networks. The article is based on an in-depth observation study of the whole life cycle of a national BAN – the Danish Business Angel Network (DBAN) – and a comparison with a similar......Policies promoting informal venture capital generally and business angel networks (BANs) in particular have gained increased attention in recent years. As a consequence, BANs are now widespread across Europe. However, there continues to be a debate whether BANs should be supported with public money...... whether to provide continuing support to BANs they should evaluate not only their immediate effectiveness but also whether BANs should be considered a part of the general small business support infrastructure....

  14. 75 FR 47632 - New United Motor Manufacturing, Inc., Formerly a Joint Venture of General Motors Corporation and...

    Science.gov (United States)

    2010-08-06

    ... Employment and Training Administration New United Motor Manufacturing, Inc., Formerly a Joint Venture of... Motor Manufacturing, Inc., formerly a joint venture of General Motors Corporation and Toyota Motor... joint venture of General Motors Corporation and Toyota Motor Corporation. The Department has determined...

  15. 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...

  16. 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...

  17. Streaming and digital media understanding the business and technology

    CERN Document Server

    Rayburn, Dan

    2007-01-01

    Steaming and Digital Media gives you a concise and direct analysis to understand a scalable, profitable venture, as well as the common and hidden pitfalls to avoid in your business. By focusing on both the business implications and technical differences between online video and traditional broadcast distribution, you will learn how to gain significant time-to-market and cost-saving advantages by effectively using streaming and digital media technologies. As part of the NAB Executive Technology Briefing series, the book is geared towards the manager or executive and no technical prerequisite is

  18. 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......  Purpose: The importance of entrepreneurial activities and the establishment of new ventures for economic growth and employment have long been recognized. However, the interactions of underlying mechanisms that influence this process have not been understood all that well. In the light of this......, a deeper understanding of various mechanisms on which knowledge-intensive entrepreneurship hinges is needed. This paper investigates how the make-up of financial, human and social capital impacts on entrepreneurial action.   Methodology: Based on a longitudinal study using both structured survey and in...

  19. Photovoltaic venture analysis. Final report. Volume II. Appendices

    Energy Technology Data Exchange (ETDEWEB)

    Costello, D.; Posner, D.; Schiffel, D.; Doane, J.; Bishop, C.

    1978-07-01

    A description of the integrating model for photovoltaic venture analysis is given; input assumptions for the model are described; and the integrating model program listing is given. The integrating model is an explicit representation of the interactions between photovoltaic markets and supply under alternative sets of assumptions. It provides a consistent way of assembling and integrating the various assumptions, data, and information that have been obtained on photovoltaic systems supply and demand factors. Secondly, it provides a mechanism for understanding the implications of all the interacting assumptions. By representing the assumptions in a common, explicit framework, much more complex interactions can be considered than are possible intuitively. The integrating model therefore provides a way of examining the relative importance of different assumptions, parameters, and inputs through sensitivity analysis. Also, detailed results of model sensitivity analysis and detailed market and systems information are presented. (WHK)

  20. Photovoltaic venture analysis. Final report. Volume III. Appendices

    Energy Technology Data Exchange (ETDEWEB)

    Costello, D.; Posner, D.; Schiffel, D.; Doane, J.; Bishop, C.

    1978-07-01

    This appendix contains a brief summary of a detailed description of alternative future energy scenarios which provide an overall backdrop for the photovoltaic venture analysis. Also included is a summary of a photovoltaic market/demand workshop, a summary of a photovoltaic supply workshop which used cross-impact analysis, and a report on photovoltaic array and system prices in 1982 and 1986. The results of a sectorial demand analysis for photovoltaic power systems used in the residential sector (single family homes), the service, commercial, and institutional sector (schools), and in the central power sector are presented. An analysis of photovoltaics in the electric utility market is given, and a report on the industrialization of photovoltaic systems is included. A DOE information memorandum regarding ''A Strategy for a Multi-Year Procurement Initiative on Photovoltaics (ACTS No. ET-002)'' is also included. (WHK)

  1. Case study applications of venture analysis: fluidized bed. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Mosle, R.

    1978-05-01

    In order to appraise the case for government intervention in the case of atmospheric fluid-bed combustion, Energy Resources Company and Rotan Mosle have developed a methodology containing four key elements. The first is an economic and environmental characterization of the new technology; the second, a survey of its prospective users and vendors; the third, a cost-benefit analysis of its prospective social benefits; and the fourth, an analytical model of its market penetration and the effects thereon of a basket of government incentives. Three major technical obstacles exist to continued AFBC development: feeding coal and limestone reliably to the boiler, tube erosion and corrosion, and developing boiler turndown capability. The review of the economic, environmental and technical attributes of the new technology has suggested that the preliminary venture can be selected with confidence as a commercial prospect capable of detailed evaluation from both private and public perspectives. The venture choice can therefore be considered firm: it will be the equipment required for the combustion of coal in atmospheric fluid beds as applied to industrial process steam in boilers of at least 83 Kpph capacity. The most effective demonstration of the potential of AFBC in the eyes of prospective industrial users is that provided by a project conducted by the private sector with minimal government direction. Unlike the ''experimental'' style of existing mixed public-private demonstration projects, the pressure to achieve reliability in more commercial applications would serve rapidly to reveal more clearly the potential of AFBC. The marketplace can be allowed to decide its fate thereafter. Once AFBC has been successfully demonstrated, the relative merits of AFBC and coal-FGD are best left to prospective users to evaluate.

  2. BUSINESS-TO-BUSINESS CORRUPTION

    Directory of Open Access Journals (Sweden)

    Natasha Georgieva Hadzi Krsteski

    2016-04-01

    Full Text Available The business corruption is established and active in the circle of the businesses partners that express a gratitude, return a service or bribes (apart from ordinary price for a business transfer to be provided. Those prohibited transfers differs from the usual business transfers, such as activities related to marketing and public relations where they have a specific goal to use illegal means in order to infringe the recipients` identity of prohibited value in an interchange for a inducement. That is a procedure of enticement, which prevents the useful instruments in the permitted bazaar and not solitary that it is harmful for the businesses whose representatives accept bribe, however it is also harmful for the civilisation as an entire. The occurrence of business corruption is intended as a amount of companies that presented cash, a gratitude or a service in return, in adding to every usual deal of any person who is working for a business entity from the private sector in any capacity, including the one through a mediator, happening to at minimum single juncture in the past 12 months previous to this research. The usual commonness of the business-to-corruption in the Republic of Macedonia is 3% compared to 4% at a regional level. While it is fewer than the regular pervasiveness of salaried briberies by enterprises to civic bureaucrats, this discovery designates that bribery in the secluded segment is a difficult in the Republic of Macedonia.

  3. The interventional radiology business plan.

    Science.gov (United States)

    Beheshti, Michael V; Meek, Mary E; Kaufman, John A

    2012-09-01

    Strategic planning and business planning are processes commonly employed by organizations that exist in competitive environments. Although it is difficult to prove a causal relationship between formal strategic/business planning and positive organizational performance, there is broad agreement that formal strategic and business plans are components of successful organizations. The various elements of strategic plans and business plans are not common in the vernacular of practicing physicians. As health care becomes more competitive, familiarity with these tools may grow in importance. Herein we provide an overview of formal strategic and business planning, and offer a roadmap for an interventional radiology-specific plan that may be useful for organizations confronting competitive and financial threats. Copyright © 2012 SIR. Published by Elsevier Inc. All rights reserved.

  4. 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.

  5. Topological properties and community detection of venture capital network: Evidence from China

    Science.gov (United States)

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

    2016-01-01

    Financial networks have been extensively studied as examples of real world complex networks. Based on the data from Chinese GEM and SME board, we establish a venture capital (VC) network to study the statistical properties, topological properties and community structure of the Chinese venture capital network. The result shows that there are no dominant venture capital firms in China which act as hubs in the VC network, and multi-company syndication is not popular in China, meaning that the relationships among venture capital companies are weak. The network is robust under either random or intentional attack, and possesses small world property. We also find from its community structure that, venture capital companies are more concentrated in developed districts but the links within the same district are scarce as compared to the links between different developed districts, indicating that venture capital companies are more willing to syndicate with companies in other developed districts. Furthermore, venture capital companies which invest in the same industry have closer relations within their communities than those which do not invest in the same industry.

  6. Business Law

    DEFF Research Database (Denmark)

    Föh, Kennet Fischer; Mandøe, Lene; Tinten, Bjarke

    Business Law is a translation of the 2nd edition of Erhvervsjura - videregående uddannelser. It is an educational textbook for the subject of business law. The textbook covers all important topic?s within business law such as the Legal System, Private International Law, Insolvency Law, Contract law......, Instruments of debt and other claims, Sale of Goods and real estate, Charges, mortgages and pledges, Guarantees, Credit agreements, Tort Law, Product liability and Insurance, Company law, Market law, Labour Law, Family Law and Law of Inheritance....

  7. Blueprint and Approach to Grow Revenue in Small Technology Companies

    OpenAIRE

    Tony Bailetti

    2010-01-01

    This article examines a new approach to grow the revenue of small technology companies and technology startups. We name this new approach the business ecosystem approach. The article is organized into five sections. The first section provides a blueprint to grow revenue and an inventory of growth formulas that top management teams of small technology companies and founders of startups find useful. The second section briefly defines business ecosystems, keystones and platforms. The third secti...

  8. 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

    examine worldwide venture capital investment flows from 2000–2012 and consider the effects of geographical, cultural, and institutional proximity as well as institutional and relational trust. We find trust to mitigate the negative effects of geographical and cultural distance, where institutional trust......Frequent and open interaction between venture capitalists (VCs) and entrepreneurs is necessary for venture capital investments to occur. Increasingly, these investments are made across jurisdictions. The vast majority of these cross-border investments are carried out in a syndicate of two or more...... is more relevant for investments in emerging economies, and relational trust is more relevant for investments in developed economies....

  9. 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

  10. 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.

  11. Business Anthropology

    DEFF Research Database (Denmark)

    Moeran, Brian

    2015-01-01

    This essay outlines the overall scope and location of business anthropology within the overall field of the discipline. It outlines its foundations as an applied form of anthropology in early developments in the United States (in particular, in Western Electric’s Hawthorne Project and the Human...... Relations School at Harvard University), as well as in the United Kingdom and elsewhere, before turning to five areas of research and practice: academic ethnographies of business practices, regional studies, case studies developed by practitioners, theoretical applications, and methods. The essay then asks...... what a future program for business anthropology might look like and suggests four areas for theoretical development against a background of education, engagement, and comparative work. These are an examination of structures of power in, between, and dependent on business organizations of all kinds...

  12. 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...

  13. Assessment of a Business-to-Consumer (B2C) model for Telemonitoring patients with Chronic Heart Failure (CHF)

    NARCIS (Netherlands)

    A.S. Grustam (Andrija); Vrijhoef, H.J.M. (Hubertus J. M.); R. Koymans (Ron); Hukal, P. (Philipp); J.L. Severens (Hans)

    2017-01-01

    textabstractBackground: The purpose of this study is to assess the Business-to-Consumer (B2C) model for telemonitoring patients with Chronic Heart Failure (CHF) by analysing the value it creates, both for organizations or ventures that provide telemonitoring services based on it, and for society.

  14. Family Factors in Small Family Business Growth

    National Research Council Canada - National Science Library

    Jim Cater; Marilyn Young

    2016-01-01

      Using a qualitative case study approach and grounded theory analysis, we examined the expansion patterns of small family businesses and explored why some of them grow across geographic areas and others...

  15. 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...

  16. 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.

  17. 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)

  18. Interpreting the 1996 federal antitrust guidelines for physician joint venture networks.

    Science.gov (United States)

    Hirshfeld, E

    1997-01-01

    The Statements of Antitrust Enforcement Policy in Health Care, issued by the FTC and the DOJ, dramatically change how the agencies evaluate physician joint venture networks. This article analyzes the Statements, providing useful guidance to the health lawyer.

  19. The influence of the venture capitalist's governance activities on the entrepreneurial firm's control systems and performance

    NARCIS (Netherlands)

    Wijbenga, F.H.; Postma, T.J.B.M.; Strating, R.

    Venture capitalists (VCs) contribute to entrepreneurial firms by engaging in governance activities, such as providing services and monitoring the entrepreneurial firm's operations and performance. This study examines the role and influence of the VC's governance activities on 93 Dutch

  20. [Great Salt Lake Ecosystem Wetlands and Wildlife: A prospectus for a mini-joint venture

    Data.gov (United States)

    US Fish and Wildlife Service, Department of the Interior — This document is a general approach towards a mini-joint venture between Near River Migratory Bird Refuge and Utah State University. It is focused on the Great Salt...

  1. 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...

  2. 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

    Frequent and open interaction between venture capitalists (VCs) and entrepreneurs is necessary for venture capital investments to occur. Increasingly, these investments are made across jurisdictions. The vast majority of these cross-border investments are carried out in a syndicate of two or more...... examine worldwide venture capital investment flows from 2000–2012 and consider the effects of geographical, cultural, and institutional proximity as well as institutional and relational trust. We find trust to mitigate the negative effects of geographical and cultural distance, where institutional trust...... 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...

  3. 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.

  4. Measuring the usefulness of social media information for new venture development decision-making

    National Research Council Canada - National Science Library

    den Engelse, Natalie; Wijnhoven, Alphonsus B.J.M; Groen, Arend J

    2012-01-01

    .... Little is known on how these media are used by entrepreneurs for information acquisition and to what extent entrepreneurs use social media information in their decision-making during venture development...

  5. 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.

  6. 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...... 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....

  7. Do balanced skills help nascent entrepreneurs to make progress in the venture creation process?

    OpenAIRE

    Stuetzer, Michael; Goethner, Maximilian; Cantner, Uwe

    2012-01-01

    We analyze longitudinal data on innovative start-up projects and apply Lazear’s jack-of-all-trades theory to investigate the effect of nascent entrepreneurs’ balanced skills on their progress in the venture creation process. Our results suggest that those nascent entrepreneurs who exhibit a sufficiently broad set of skills undertake more gestation activities towards an operational new venture. This supports the notion that a balanced skill set is an important determinant of entrepreneurial ma...

  8. Achieving strategic intent through corporate venturing: The role of strategic relationships and market orientation

    OpenAIRE

    Tunstall, Richard; Jordain, Clair; Pittaway, Luke; Thomas, Brychan C

    2009-01-01

    This principally conceptual paper explores how, in conjunction with its market orientation, a firm's internal and external strategic relationships may be used in implementing corporate venturing to achieve its strategic intent. Conceptually, the paper begins by exploring work on strategic corporate venturing. Building on this analysis, a dichotomy between internally sustained and externally partnered strategic relationships is discussed, as is the role of market orientation. From this discuss...

  9. BYOD Security: A New Business Challenge

    OpenAIRE

    Downer, K.; Bhattacharya, Maumita

    2016-01-01

    Bring Your Own Device (BYOD) is a rapidly growing trend in businesses concerned with information technology. BYOD presents a unique list of security concerns for businesses implementing BYOD policies. Recent publications indicate a definite awareness of risks involved in incorporating BYOD into business, however it is still an underrated issue compared to other IT security concerns. This paper focuses on two key BYOD security issues: security challenges and available frameworks. A taxonomy sp...

  10. Customer Retention in E-commerce business

    OpenAIRE

    Qu, Feihua

    2011-01-01

    E-commerce is growing fast with the fast development of internet and communication technology. Now E-commerce brings the businesses a world wide market and a huge population of protential csutomer. For customers the price information is more transparent and there are much more buying choices than before. Online businesses are competeing for customers on a word wide market like never before. The customer retention gained increased value among the E-commerc businesses. But the research of cust...

  11. Ground Support Strategies at the Turquoise Ridge Joint Venture, Nevada

    Science.gov (United States)

    Sandbak, L. A.; Rai, A. R.

    2013-05-01

    Weak rock masses of high grade Carlin-trend gold mineralization are encountered in the Turquoise Ridge Joint Venture underground mine. The sediments consist of very weak and altered limestone, mudstone, and carbon-rich clays. The rock mass ratings are described as very poor to poor (Bieniawski in Proceedings of the symposium on exploration for rock engineering, Johannesburg, South Africa, pp. 97-106, 1976). The undercut and fill or boxes stoping mining methods are used because of the low dipping ore body geometry, complex geology, and weak rock mass. Design criteria are chosen to keep openings in weak rock as small as possible to prevent unraveling and to minimize supplementary support. Typical ground support for drifting includes the use of bolts, mesh, spiling, and shotcrete. Quality control of cemented rock fill (CRF) through sampling and aggregate sieve testing is necessary to insure high support strength. Specific support may include shotcrete arches with steel ring sets and CRF "arches" as a replacement of weak rock masses around long-term mine openings. Movement monitoring is utilized in problem areas and is needed to quantify and validate computer modeling.

  12. 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.

  13. Virtuous capital: what foundations can learn from venture capitalists.

    Science.gov (United States)

    Letts, C W; Ryan, W; Grossman, A

    1997-01-01

    U.S. foundations and nonprofits work diligently on behalf of society's most needy and yet report that progress is slow and social problems persist. How can they learn to be more effective with their limited resources? Foundations should consider expanding their mission from investing only in program innovation to investing in the organizational needs of nonprofit organizations as well. Their overemphasis on program design has meant deteriorating organizational capacity at many nonprofits. If foundations are to help nonprofits be assured of making payroll, paying the rent, or buying a much-needed computer, they must develop hands-on partnering skills. Venture capital firms offer a helpful benchmark. In addition to putting up capital, they closely monitor the companies in which they have invested, provide management support and stay involved long enough to see the company become strong. If foundation officers familiarize themselves with such practices, they can begin to build organizational capacity in the nonprofit sector. Foundations can hire organizational experts to assist grantees; they can lengthen grant terms to allow nonprofits to build up organization strengths; and they can create new classes of grants that allow for organizational effectiveness. Nonprofits in turn should articulate their organizational needs when applying for grants; they should apply to foundations known for longer-term grants; and they should create plans that justify long-term support from foundations.

  14. Market Meltdown: Recruiting Qualified Business Faculty

    Science.gov (United States)

    Swartz, James E.; Swartz, Teresa A.; Liang, Priscilla

    2007-01-01

    University business programs have been facing a growing dilemma concerning how to address increasing shortages of doctoral-level faculty. In this study, the authors examine the challenges facing business schools because of the identified shortage, especially in light of pending baby boomer retirements. With the California State University system…

  15. 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.

  16. Factors responsible for the growth of small business

    Directory of Open Access Journals (Sweden)

    JA Döckel

    2015-01-01

    Full Text Available Entrepreneurial conduct holds the key to economic growth. Thus those business that show growth and development are considered entrepreneurial, implying that SMME policy initiatives should focus on businesses with growth potential, and not the small business sector as a whole.  The success of a small business seems to depend on the intentions of the owner, together with factors associated with the ability of, and opportunity for, the specific business to grow.  The aim of this article is to make use of a multiple linear regression model to determine the variables that impact positively on business growth.  In addition to demand factors, it was established that smaller and younger businesses are the ones that grow faster. A successful business also shows a positive correlation between business management skills and entrepreneurial conduct.

  17. E-Business Security Architectures

    Directory of Open Access Journals (Sweden)

    2009-01-01

    Full Text Available By default the Internet is an open high risk environment and also the main place where the e-business is growing. As result of this fact, the paper aims to highlight the security aspects that relate to distributed applications [3], with reference to the concept of e-business. In this direction will analyze the quality characteristics, considered to be important by the author. Based on these and on existing e-business architectures will be presented a particularly diagram which will reflect a new approach to the concept of future e-business. The development of the new architecture will have its stands based on technologies that are used to build the applications of tomorrow.

  18. Economic Gardening and the Grow Kentucky Program

    OpenAIRE

    Robbins, Lynn W.; Allen, James E. IV

    2015-01-01

    In 2014, the Community and Economic Development Initiative of Kentucky (CEDIK) and the Kentucky Small Business Development Center (KSBDC), launched Grow Kentucky, Kentucky’s only certified Economic Gardening program. The program helps second-stage entrepreneurial growth companies penetrate existing markets, identify new markets, monitor competitors, track industry trends, locate customer clusters, use search engine optimization/social media for marketing and various other customized research....

  19. Key competences in the new ventures: a model for evaluating

    NARCIS (Netherlands)

    Castillo, S.M.; Hormiga-Pérez, E.; Coromina Soler, L.; Valls Pasola, J.

    2010-01-01

    This research studies from an internal view based on the Competency-Based Perspective (CBP), key organizational competencies developed for small new business. CBP is chosen in an attempt to explain the differences characterizing the closed companies from the consolidated ones. The main contribution

  20. Business Leksikon

    DEFF Research Database (Denmark)

    Nielsen, Sandro

    2002-01-01

    This review article deals with a specialised dictionary recently introduced to the Danish market. It covers traditional business subjects and is designed for semi-experts and laypeople. Through Danish definitions and English, French and German equivalents, it aims at fulfilling the functions text...

  1. Unfinished Business

    Science.gov (United States)

    Tuckett, Alan

    2011-01-01

    Adult learning is not a tidy business: adults fit learning into the spaces left by the other demands on complex lives, and into the spaces left in administrative structures overwhelmingly designed for other people. No simple metric can capture adults' diverse purposes and achievements, and no single programme can capture the full range of things…

  2. Business Intelligence

    OpenAIRE

    Petersen, Anders

    2001-01-01

    Cílem této bakalářské práce je seznámení s Business Intelligence a zpracování vývojového trendu, který ovlivňuje podobu řešení Business Intelligence v podniku ? Business Activity Monitoring. Pro zpracování tohoto tématu byla použita metoda studia odborných pramenů, a to jak v českém, tak v anglickém jazyce. Hlavním přínosem práce je ucelený, v českém jazyce zpracovaný materiál pojednávající o Business Activity Monitoring. Práce je rozdělena do šesti hlavních kapitol. Prvních pět je věnováno p...

  3. Small Business Size Standards

    Data.gov (United States)

    Small Business Administration — Certain government programs, such as SBA loan programs and contracting opportunities, are reserved for small business concerns. In order to qualify, businesses must...

  4. Small Business Development Center

    Data.gov (United States)

    Small Business Administration — Small Business Development Centers (SBDCs) provide assistance to small businesses and aspiring entrepreneurs throughout the United States and its territories. SBDCs...

  5. 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.

  6. 77 FR 31149 - National Small Business Week, 2012

    Science.gov (United States)

    2012-05-24

    ... have given their all to realize a dream, and we renew our promise to help their businesses grow, hire..., clean energy, and education. I was proud to sign the America Invents Act, which is helping entrepreneurs... and Reinvestment Act and the Small Business Jobs Act, the Small Business Administration has supported...

  7. Competitive advantage of independent small businesses in Soweto ...

    African Journals Online (AJOL)

    Small businesses in Soweto face increasing competition from large retail chains located in shopping malls. In order to survive and grow, small business owners need to identify and focus on the competitive advantage they have over competing businesses. The aim of this article is to explore the various sources of a ...

  8. AUDIT OF INNOVATIVE IDEAS AS THE PREVIOUS STAGE OF THE BUSINESS-PLAN OF START-UP PROJECTS

    Directory of Open Access Journals (Sweden)

    O. Zhylinska

    2014-09-01

    Full Text Available The phenomenon of feasibility reasoning of venture capital investment for the implementation of innovative ideas is revealed. The main elements of the methodology for feasibility of start-up projects, based on the concept of combination of life cycle of the market, product innovation and startup companies, are characterized. The comparative analysis of methods feasibility study and business plan start-up project is made, the importance of innovative ideas audit in future economic information generation and investment decisions of informal venture capital investors are shown.

  9. The Department of Defense and Veteran Affairs Health Care Joint Venture at Tripler Army Medical Center Needs More Management Oversight

    Science.gov (United States)

    2013-09-18

    E M B E R 1 8 , 2 0 1 3 The Department of Defense and Veteran Affairs Health Care Joint Venture at Tripler Army Medical Center Needs More...Department of Defense and Veteran Affairs Health Care Joint Venture at Tripler Army Medical Center Needs More Management Oversight 5a. CONTRACT NUMBER...Health Care Joint Venture at Tripler Army Medical Center Needs More Management Oversight Objective Our audit objective was to determine whether the

  10. Study on Venture Capital Investment Risk Avoiding Base on Option Pricing in Agricultural Production and Processing Enterprises

    Science.gov (United States)

    Zhang, Xubo

    This paper uses the approaches and models of option theory to analyze two-stage venture capital investment in agricultural production and processing enterprises decision-making under uncertainty. Mathematics expressions of this two-stage venture capital investment decision-making are presented. An option value model about two-stage venture capital investment decision-making base on options pricing theory under the uncertainty is presented. Get the solution of option pricing model which we present.

  11. Assessment of a Business-to-Consumer (B2C) model for Telemonitoring patients with Chronic Heart Failure (CHF).

    Science.gov (United States)

    Grustam, Andrija S; Vrijhoef, Hubertus J M; Koymans, Ron; Hukal, Philipp; Severens, Johan L

    2017-10-11

    The purpose of this study is to assess the Business-to-Consumer (B2C) model for telemonitoring patients with Chronic Heart Failure (CHF) by analysing the value it creates, both for organizations or ventures that provide telemonitoring services based on it, and for society. The business model assessment was based on the following categories: caveats, venture type, six-factor alignment, strategic market assessment, financial viability, valuation analysis, sustainability, societal impact, and technology assessment. The venture valuation was performed for three jurisdictions (countries) - Singapore, the Netherlands and the United States - in order to show the opportunities in a small, medium-sized, and large country (i.e. population). The business model assessment revealed that B2C telemonitoring is viable and profitable in the Innovating in Healthcare Framework. Analysis of the ecosystem revealed an average-to-excellent fit with the six factors. The structure and financing fit was average, public policy and technology alignment was good, while consumer alignment and accountability fit was deemed excellent. The financial prognosis revealed that the venture is viable and profitable in Singapore and the Netherlands but not in the United States due to relatively high salary inputs. The B2C model in telemonitoring CHF potentially creates value for patients, shareholders of the service provider, and society. However, the validity of the results could be improved, for instance by using a peer-reviewed framework, a systematic literature search, case-based cost/efficiency inputs, and varied scenario inputs.

  12. Melting ice, growing trade?

    National Research Council Canada - National Science Library

    Sami Bensassi; Julienne C. Stroeve; Inmaculada Martínez-Zarzoso; Andrew P. Barrett

    2016-01-01

    Abstract Large reductions in Arctic sea ice, most notably in summer, coupled with growing interest in Arctic shipping and resource exploitation have renewed interest in the economic potential of the Northern Sea Route (NSR...

  13. BUSINESS ECOSYSTEMS VS BUSINESS DIGITAL ECOSYSTEMS

    Directory of Open Access Journals (Sweden)

    Marinela Lazarica

    2006-05-01

    Full Text Available E-business is often described as the small organisations’ gateway to global business and markets. The adoption of Internet-based technologies for e-business is a continuous process, with sequential steps of evolution. The latter step in the adoption of Internet-based technologies for business, where the business services and the software components are supported by a pervasive software environment, which shows an evolutionary and self-organising behaviour are named digital business ecosystems. The digital business ecosystems are characterized by intelligent software components and services, knowledge transfer, interactive training frameworks and integration of business processes and e-government models.

  14. Entrepreneurship and Social Capital: Evidence from a Colombian Business Incubator

    Directory of Open Access Journals (Sweden)

    Ignacio Castro

    2014-10-01

    Full Text Available This paper contributes to the important body of research on entrepreneurship and social capital. Most previous work on social capital and business incubators has analyzed how the structure of personal networks (measured by network size or density and their quality (measured by tie strength influence venture performance. However, few studies have focused on the mobilization of partners’ resources. This paper analyses how these three dimensions of social capital —defined in this article as the structural dimension, the relational dimension and the resource dimension— are closely linked to the three types of interactions in a business incubator: networking, counseling and resourcing. An Ordinary Least Squares regression was applied to a sample made up of incubating firms in Colombia. Results from the data analysis show that resourcing interactions constitute the most significant aspect of business incubators for entrepreneurs.

  15. Business Ethics

    Science.gov (United States)

    2002-06-01

    allies to trust its Government. Thus Poland must implement an ethical program within the MOD acquisition community by increasing international...Generally, the MOD does not clearly communicate their interest in ethical standards when cooperating with industry even though laws and policies...conduct. This code would also clearly communicate the MOD’s acceptable standards of ethical business practices. The MOD should regulate employment

  16. Business History

    DEFF Research Database (Denmark)

    Hansen, Per H.

    2012-01-01

    This article argues that a cultural and narrative perspective can enrich the business history field, encourage new and different questions and answers, and provide new ways of thinking about methods and empirical material. It discusses what culture is and how it relates to narratives. Taking...... a cultural and narrative approach may affect questions, sources, and methodologies, as well as the status of our results. Finally, a narrative approach may contribute to our historical understanding of entrepreneurship and globalization....

  17. 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)

  18. 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.

  19. Business Continuity and Disaster Risk Management in Business Education: Case of York University

    Directory of Open Access Journals (Sweden)

    ALI ASGARY

    Full Text Available Increasing levels of business disruptions and disaster events on one hand while local, national and international campaigns on the other have increased businesses' awareness, attention and demand for the need for business continuity management. As more and more businesses are looking to integrate disaster risk and business continuity management into their business operations and decision making processes, the need for such expertise has also increased. Despite these needs, many business schools around the world have not fully identified, realized or addressed them. While there are several models for integrating disaster risk and business continuity management in business education, York University has established undergraduate and graduate level disaster and emergency management programs in a business school setting to address these growing needs. Through this integration, considerable numbers of business students enroll in disaster risk management, and business continuity courses. Knowledge and skills that students acquire through these courses make them informed and knowledgeable players in business continuity management teams in their varied work places.

  20. Can We Do Business? A Study of the Attitudes of Chinese and Australian Business Students

    OpenAIRE

    Parikshit K. Basu; John Hicks; Richard B. Sappey

    2007-01-01

    Australia’s business relationship with China is growing. However, there are culturaldifferences between the residents of the two countries that may lead to differences inattitudes and actions. These differences can present obstacles to optimising thebenefits to be gained from mutual business cooperation. In order to understand howthe future business leaders (present students) view the potentiality for doing businessin each others’ countries, groups of commerce students in Australia and China ...