Academic literature on the topic 'Nascent Technology Ventures'

The article seeks to further our understanding of the process of organizing nascent social ventures. It builds upon current research on the political and collaborative nature of the social entrepreneurial process, and takes an ANT-inspired processual approach to follow the organizational practices carried by a nascent social venture in its efforts to mobilize stakeholders, bring about collaboration and ultimately secure resources. It draws upon empirical material generated during the first year of a social venture I founded and continue to chair. Findings highlight the adaptive and fluid nature of the organizational practices involved in nascent organizations and indicate that the capacity to continuously adjust the qualities of the eventual venture to the stakes of potential partners is instrumental to start up the venture. The article suggests the notion of tinkering to underscore the fluidity, the ongoing and piecemeal everyday work of such organizing processes. Further, findings highlight the extent to which social ventures, as well as the engaged scholar, are caught in the networks that contribute to reproduce the social problem they aim to change.

This paper examines the evolution of programmes of enterprise education and technology transfer at the University of Cambridge in response to the growth of the Cambridge Cluster and public policy programmes designed to enhance the economic impact of higher education institutions. The authors highlight the way education programmes developed by the Centre for Entrepreneurial Learning uniquely reflect the needs of nascent high-tech entrepreneurs by using local entrepreneurs, venture capitalists, angels and start-up support specialists as instructors; by gearing the curriculum to issues facing high-tech ventures; and by offering ‘extra-curricular’ programmes that fit the scheduling needs of the PhD students, post-docs and research staff who constitute the intended audience. This examination provides an interesting case study of how a mature high-tech cluster can shape university entrepreneurship programmes. It also illustrates how new educational and technology transfer programmes have pulled the university and its nascent high-tech entrepreneurs into a closer relationship with the dense network of firms and people who make up the Cambridge Cluster.

The purpose of this article is to identify the role start-ups play in the open innovation (OI) context by reviewing the existing body of research. Since the OI literature on young ventures is nascent, a stepwise review approach is applied, using the already more evolved findings of small- and medium-sized enterprises (SMEs) in order to derive similarities or differences. The findings indicate that if empirical studies with a similar research focus are conducted, similar results are likely to be obtained in both SMEs and young ventures. Generally, young ventures have a higher application of OI activities compared to large firms as it boosts their innovation performance enabling them to overcome the liability of smallness and newness. Because of this importance, combined with the limited number of quantitative studies available, ongoing research is required to further understand young ventures role in the OI context.

Prior research has advanced several explanations for entrepreneurial success in nascent markets but leaves a key imperative unexplored: the business model. By studying five ventures in a nascent financial-technology market, we develop a novel theoretical framework for understanding how entrepreneurs effectively design business models: parallel play. Similar to parallel play by preschoolers, entrepreneurs engaged in parallel play interweave action, cognition, and timing to accelerate learning about a novel world. Specifically, they (1) borrow from peers and focus on established substitutes for their services or products, (2) test assumptions, then commit to a broad business-model template, and (3) pause before elaborating the activity system. The insights from our framework contribute to research on optimal distinctiveness and to the learning and evolutionary-adjustment literatures. More broadly, we blend organization theory with a fresh theoretical lens—business-model processes—to highlight how organizations actually work and create value.

O estudo investiga startups que participaram em programas de aceleração e olha para fatores que afetam o sucesso da startup. Especificamente, este trabalho apurou que a desaprendizagem que ocorre dentro das aceleradoras é crucial para a aprendizagem do empreendedor. Os resultados negativos de empreendedores anteriores não mostraram um impacto significativo na desaprendizagem. Além disso, analisou que o empreendimento pode aumentar sua tecnologia, mercado e especificamente no conhecimento empresarial. A tecnologia e o conhecimento empresarial foram identificados para melhorar os resultados dos empreendimentos de forma notável. Por isso, foram estabelecidas duas amostras investigadas dentro de um estudo empírico qualitativo e um quantitativo que derivam da aceleradora Building Global Innovators e de diversos aceleradores de startups da Websummit. The study investigates startups that participated in acceleration programs and looks at factors that affect the startup success. Specifically, this work investigated that unlearning takes place within accelerators and it is crucial for the entrepreneur’s learning. Negative prior venture outcomes did not show to significantly impact unlearning. Moreover, it analysed that the venture can increase its technology, market and specifically in business knowledge. Technology and Business knowledge was identified to improve outcomes of ventures in a remarkable way. For this sake, two samples investigated within a qualitative and within a quantitative empirical study were established who stem from the Building Global Innovators accelerator and diverse accelerators from startups from the Websummit.

This contributed volume provides the knowledge portfolio for the Strategic Management field. Strategic Management has experienced significant growth as a research discipline and builds on strong theoretical and empirical research to provide valuable knowledge for managerial practice. The book is designed to capture the rich breadth and depth of knowledge in the field as well as insightful examinations of critical topics for the future and opportunities for future research (50 percent of the focus). Such information and knowledge are critical for all current and future scholars in the field and for thoughtful executives as well. The 37 chapters by well-known and highly respected scholars capture the essence of the field. They address the field’s evolution, the primary economic and organization theories underlying the base of knowledge, and the critical methodologies used to conduct research. The chapters cover topics of major importance (and their primary subtopics), such as corporate strategy (diversification, acquisitive growth, divestitures), strategic entrepreneurship (nascent firms, industry emergence, technology entrepreneurship), competitive and cooperative strategies (competitive advantage, alliances, networks), global strategy (multinational firms’ cross-border strategies, strategies employed in emerging economies), strategic leadership (top management teams, CEO succession), governance and boards of directors (corporate and venture boards, ownership effects on governance), knowledge and innovation (organizational learning, knowledge sharing), strategy process and practice (strategic decision making, organizational change), and microfoundations of strategy (strategic human capital, organizational capabilities). The book concludes with chapters on broadly important issues for the future, such as artificial intelligence, sustainability strategy, stakeholder perspective, and business model innovation strategies.

The new technology-based firms (NTBF) are a key element of economic growth, and therefore, understanding NTBF´s driving forces becomes a particularly important field of study. Relatively few studies have addressed the analysis of the determinants of technology entrepreneurship (TE), and those that did, have paid more attention to institutional or external factors (Aceytuno & de Paz, 2008). Role models have received less attention but seem to play a determinant role regarding TE (Venkataraman, 2004). The present chapter aims to analyse whether these role models and its proximity to potential entrepreneurs influence the NTBF creation. Using a sample of 65 countries over the period 2006-2013, we apply panel data random effect models. Overall, empirical evidence revealed that the variables media attention on entrepreneurship and personally know an entrepreneur exert significant influence on TE.

In a globalized business environment characterized by the existence of mature sectors, it is essential to focus our attention on those firms with low entry barriers as well as high growth potential in order to design adequate regional development policies. In this context, we analyze firm growth in Brazilian technology-based companies over the 2002-2013 period testing the Law of Proportionate Effect which allows us to provide useful information for policy makers. This study confirms that firm growth is not a random process and, most importantly, we observe that there has been a positive and significant effect of more profitable firms on firm growth in years of global recession. Consequently, we highlight that public policies should be focused on small, profitable and less indebted firms of the technology-based sector because they would contribute to business dynamism and job creation.

This study attempts to analyze the dynamic impact of the entrepreneurial network at early stages of high technology start-ups, namely conception, gestation and infancy phases, located at a university based incubator. Empirical results show that, in different stages of a new enterprise, the use of formal or informal components of entrepreneurial network imposes distinctive impacts on performance of the start-ups. Prior ties that helped start-ups to acquire critical resources and capabilities proved to be dysfunctional in the latter stages. Conversely, weak or insignificant ties that were created in earlier periods provided start-ups with critical resources or capabilities for growth and survival. Consequently, results revealed that the formal efforts of incubator to facilitate such networks, such as mentoring activities, organized events and provision of access to local and international organizations, positively influenced start-up survival and growth.

The purpose of the paper is to discuss the characteristics of the blockchain (hereinafter “BT”) industry and factors that affect the success of BT-based startup companies. Due to the novelty of BT technology, the current period of its development is associated with a high number of newly emerging firms that are predominant in the BT industry. The study seeks to address the two main research questions: What are the key characteristics of the BT industry? What are the factors that determine the success of BT-based companies? To answer these questions, the method of the systematic literature review was applied. The discussion of the reviewed 43 publications led to the classification of literature sources into six categories, including research streams on BT in the contexts of entrepreneurial finance, institutional theory, digital and social entrepreneurship, business models, and international business. The results suggested that the early success of the BT-based startups’ entry and growth related to the supportive entrepreneurial environments, a greater degree of regulatory clarity, the formation of strategic associations, entrepreneur’s active engagement in sharing expertise and shaping the regulations and standards, a profound business model, and experienced management. It is recommended that policymakers should support the creation of new ventures and the transfer of knowledge about BT. Managers of established companies should cooperate with startups to adopt BT applications into their business models. Future research should be based on empirical research studies, namely cluster analysis, to identify the determinants of success/failure of BT-enabled startup firms. This paper contributes to BT research and the literature on the emergence of new industrial fields and ventures.

Abstract The Liza Phase 1 development project, offshore Guyana, is an unique example of what the offshore oil and gas industry is capable of when working together to deliver a common objective. ExxonMobil and the Stabroek Block co-venturers, Hess Guyana Exploration Limited and CNOOC Petroleum Guyana Limited, commenced oil production from the Liza Destiny floating production, storage, and offloading (FPSO) vessel in December of 2019, less than 5 years from the initial discovery of hydrocarbons in the Staebroek block. With the production and export of its first barrels of oil, the project completed the establishment of a nascent oil and gas industry in Guyana that is poised for tremendous growth in the coming years. The Liza Phase 1 development consists of a 120 kbd conversion FPSO (The Liza Destiny) and a network of subsea infrastructure to produce from and inject in two drill centers. It is expected to develop a resource of about 450 MBO gross estimated ultimate recovery. The water depth ranges from 1,690–1,860 m throughout the development which is located approximately 200 km offshore Guyana. This paper highlights the scope and pace of the project and discusses three specific challenges overcome: the uncertainty of the metocean conditions, extending the application of the selected riser technology, and executing in a challenging and frontier offshore location. A key to the success of the project was the unified approach between stakeholders and the commitment to act as One Team. The Liza Phase 1 project rapidly developed a newly discovered deep water resource in a frontier location while overcoming numerous challenges. By delivering Guyana's first ever oil production among industry leading cycle times, the Liza Phase 1 project has set the foundation for the future of deep water developments in Guyana.

Early Intervention and Local Content Optimization Esso Exploration and Production Guyana Limited ("ExxonMobil"), an affiliate of Exxon Mobil Corporation, and its co-venturers Hess Guyana Exploration Limited and CNOOC Petroleum Guyana Limited, discovered oil in the Stabroek block offshore Guyana during the first half of 2015. The success of safely drilling their first well (Liza-1), followed a history of 40 dry holes in the Guiana Basin prior to ExxonMobil beginning ultra-deepwater oil and gas exploration in 2008 (Varga et al. 2021). Guyana, with a small population of 750,000, was primarily economically focused on agriculture, manufacturing, and the mining of bauxite and gold. ExxonMobil identified the need for an early, focused, coordinated, and long-lasting approach to local content planning to provide tangible results for Guyana. Developing local businesses to actively participate in the industry and enter the supply chain while raising awareness of how the oil and gas industry operates was paramount, as was managing expectations of the Guyanese government and populace about local content. ExxonMobil recognized that the established mining sector in Guyana had the potential to provide a base of local suppliers able to transition into the emerging oil and gas sector. It subsequently undertook a number of assessments and studies on the local economy to further understand the local context. The finding of these assessments highlighted that most Guyanese companies were operating in the small local economy or working within the Caribbean region, limiting their exposure to international standards and providing little impetus to become globally competitive. Despite having technical competencies that could be utilized in the oil and gas industry, shortfalls were apparent in the areas of auditable systems, business processes, quality assurance, and safety. Closing the gaps would take time and investment, and a shift in culture in some parts. An internal assessment of ExxonMobil's supplier development programs was conducted, and a Guyana supplier development program was developed by drawing from best practices around the globe. ExxonMobil, with the support of its Stabroek Block co-venturers, took a proactive decision and devised a plan to engage an independent third party to run a "fit for purpose" enterprise development centre (EDC) to support the technical development in country through local content prior to final investment decision (FID). In order to be equipped to provide early roll out of local content development, and 6 months before FID for Liza 1, ExxonMobil released a Request for Proposal (RFP). Bidders were invited to submit proposals on how the EDC would function "fit for purpose" and compliment rather than compete with current Guyanese activities and vendors. The successful bidder, DAI Global LLC (DAI), had a proven track record of international socioeconomic project successes and was selected to form a unique and collaborative, strategic relationship with ExxonMobil. Although DAI had previous experience in nascent markets, the challenge in Guyana was to expand the Guyanese supplier base into a new sector. The global experience of both ExxonMobil and DAI worked in tandem to produce a flexible management structure with the capability to adapt to the ensuing exploration successes and expanding industry needs. Both short and long term programs would be utilized to engage businesses for the changing needs of businesses during varying developmental stages. Additionally, ExxonMobil's foresight to incorporate local content requirements and contractual use of the centre into prime contractor contracts provided support for the long-term viability of the EDC. The EDC established in Guyana was named The Centre for Local Business Development (Centre). The Centre design provides a supportive environment where seeking and acquiring information about the oil and gas sector is a comfortable experience. Inclusive of classrooms, meeting spaces, offices, and networking areas, the Centre sponsors engaging programs and provides mentorship for companies entering the industy. Drawing upon studies and data to drive the content and focus of its programs, the Centre addresses relevant needs in the business community. For example, a DAI baseline study on the international competitiveness of local businesses showed that two-thirds of Guyanese businesses were not internationally competitive and needed support with basic business systems (e.g. financial management, supply chain management and human resources). Other stakeholder focus group studies conducted by ExxonMobil determined that there was a lack of foundational knowledge about the oil and gas sector. Having access to this research pre-FID allowed for a head start on planning and enabled the implementation of a work program just 3 months after the Centre's opening.