Concept Of Venture Research Articles

New venture idea incubation: A micro-process view

Background: In pursuit of new venture idea incubation, motivated entrepreneurs must simultaneously commit to an idea and develop the capacity to translate this commitment into a new venture concept. However, it is not clear how experienced entrepreneurs navigate this complex process. In this study, key phases and competencies emerge from a deep understanding of the lived experience of entrepreneurs engaged in the opportunity development process.Aim: By leaning on empirical insight from seasoned entrepreneurs, this study examines the iterative character of new venture idea incubation. The research conceptualises the lived experience of key constructs and relationships in the new venture idea incubation process.Setting: The primary research was conducted in Johannesburg in South Africa.Methods: Longitudinal, triangulated data from purposively selected cases enabled patterning of idea incubation processes. Computer-aided data analysis (CAQDAS) was used to code inductively and deductively to illuminate activations and sequences.Results: This incubation period was shown to be one in which venture ideas evolve into elementary venture concepts. The data enabled development of a framework that exemplifies this process of incubation.Conclusion: The findings extend the existing theory by describing the micro-processes that are involved in new venture idea incubation. The findings also clarify the distinction between new venture idea incubation and new venture opportunity evaluation, a distinction that has not previously been evident.Contribution: The study contributes by exposing a micro-level view of the new venture idea incubation process that is enacted by entrepreneurs to frame an elementary venture concept.

Light Bulb Moments: Where Do Student Entrepreneurs Get Their Ideas

Understanding how to support creative ideation is an important, yet, elusive, issue for marketing educators. To shed light, this study proposes ideation as a malleable state influenced by “outside-the-brain” resources. By examining venture concept ideation, this study captures the ideation–environment relationship using experience sampling to tap into the daily lives of student entrepreneurs. The findings identify how entrepreneurial ideas emerge from specific external interactions and engagements, which are contextualized using two Japanese conceptualizations of space, ba (場) and ma (間). The results inform both marketing education and entrepreneurial marketing.

What are pre-acceleration programs?

In recent years, a new phenomenon emerged in entrepreneurial ecosystems: the pre-acceleration program. Departing from the literature on the entrepreneurship support ecosystem, we define, describe, and compare the main characteristics of these programs. We define pre-accelerators as early-stage entrepreneurship support organizations which are highly structured and with strong educational content, of short duration (generally less than three months), and aim to support aspiring entrepreneurs in speeding the process of venture concept emergence through fast-paced interactions and problem-solution validation. Participants start with (or without) scattered ideas that change and evolve during the program. Most often they can enter individually, and teams are formed from interactions within the cohort.

Pojęcie joint venture

The article encompasses an analysis of non-uniformly concept of joint venture, which is located in cooperative issues, taking Polish and European regulations under consideration. The considerations present three aspects – joint venture as a type of cooperation, the general foundation and the specified form of co-operation. As a type of entities cooperation means cooperation, which aims to attainment a common target under conditions, which ensures common and individual benefit. In this case entities usually incur common risk. As the general basis of the cooperation is the agreement whereby the parties take up cooperate, taking into account the elements relevant to this type of cooperation. As a form of cooperation is a new common structure or non institutional connection. This study has also raised the issue of „joint venture company”, which is the only appropriate term for a type of entities cooperation based on the use of elements of construction for companies.

From “Opportunity” to Opportunity: The design space for entrepreneurial action

This paper leverages the distinction between “opportunity” as the content of entrepreneurial intention and opportunity as external conditions for entrepreneurial success to focus on the action space of entrepreneurship. The “opportunity” triangle of person, venture concept, and theory of change provides a holistic, dynamic interface through which entrepreneurs act upon the world. It invites scholarly inquiry grounded in design science and its edges define three core activities of entrepreneurship as a design activity: framing, modeling, and performing. The dialog between scholar and entrepreneur makes the triangle visible, facilitating reflection and deliberation in entrepreneurial practice.

КОРПОРАТИВНІ БІЗНЕС-МОДЕЛІ ВЕНЧУРНОГО ФІНАНСУВАННЯ: СУЧАСНІ МЕХАНІЗМИ

The article is devoted to the concept of corporate venture, which is based on the key methodological basis that the sources of innovation are formed both within and outside companies in the format of external ventures. They are founded by one or more companies on a share basis and take the form of organizational, economic and institutional forms of complex integration and cooperation structures and research consortia formed between autonomous and independent economic entities. Thus, one of the examples is strategic venture alliances, as one of the main institutional forms of external corporate venture. Next, we consider joint ventures created with the participation of donors and recipients of venture capital by establishing new legal entities or registration of the venture fund's participation in the share capital of high-tech companies. The advanced dynamics of techno-globalization processes against the background of unprecedented complication of the international business environment and the intensification of inter-firm competition for the most technologically breakthrough innovative developments raise the issue of mergers and acquisitions. Another organizational form of implementing external corporate venture mechanisms is the participation of companies in innovation clusters. There is also a rapid dynamization of cooperation of corporate venture funds with leading universities, research institutes, centers and laboratories. Therefore, it should be noted that external corporate venture is actively developing today in the general course of objective laws, patterns and trends of the global venture industry, demonstrating the high risks of venture investment, the predominant focus of BNP on innovation cooperation. This provides not only a significant increase in the economic efficiency of corporate R&D and expansion of existing innovation opportunities and sectoral-sectoral "space" of corporate business, but also the formation of its global "cognitive framework" as a full understanding of the nature and vector orientation of global market and technology transformations.

Start-up Inertia versus Flexibility: The Role of Founder Identity in a Nascent Industry

Through an inductive, comparative study of four early entrants in the nascent air taxi market, we examine why start-ups, generally characterized as flexible, malleable entities, might instead exhibit inertial behavior. While two of the firms engaged in ongoing experimentation and adaptation, two firms actively reinforced their original venture concepts, even in the face of environmental shifts and declining firm performance. Comparisons of the firms revealed the importance of founders’ identities. Two founders saw themselves as “revolutionaries” building novel ventures to drive radical change. In contrast, two sets of founders saw themselves as “discoverers” identifying new opportunities and exploiting them to build successful businesses. We propose that these identities contributed to the firms’ inertia and flexibility primarily through the mechanism of identity affirmation. Acting in a manner consistent with their self-views, revolutionary founders committed to and actively reinvested in radical venture concepts, rejecting potentially adaptive changes that they felt compromised novelty. In contrast, discoverer founders prioritized experimentation and change in reaction to shifting conditions. We propose an emergent framework exploring how, in a nascent industry, a founder’s identity can set off self-reinforcing cycles of firm inertia or flexibility.

Joint Venture Agreements and EU Competition Law: The Case of the Construction Industry in Particular

The first and significant hurdle in joint venture competition law analysis has to do with its rigorous definition. No consensual definition of the concept of joint venture in the field of competition law (including EU competition law) has ever been provided. On the contrary, multiple definitions have been proposed, but despite such widespread discussion ambiguity reins in this area.

Coopetition in coworking-spaces: value creation and appropriation tensions in an entrepreneurial space

Coopetition has the potential to improve entrepreneurship and innovation. It will be prevalent in coworking-spaces building a growing field for individual and corporate entrepreneurship. The individuals’ physical closeness in the professional and social space of the coworking-space eases multifaceted transfers of explicit and implicit knowledge, stimulating creation, transfer, overhaul, and implementation of entrepreneurial ideas. While entrepreneurs in these coworking-spaces collaborate on sharing knowledge and resources and on finding creative ideas from which can breed new venture concepts, they simultaneously compete on the appropriation of values. Thus, entrepreneurs in coworking-spaces face coopetitive tensions of creating and appropriating the values. Based on interview data and secondary sources, this paper explains four different prototype institutions of coworking-spaces: the corporate coworking-space, the open corporate coworking-space, the consultancy coworking-space, and the independent coworking-space. Study explains different tensions of value creation and appropriation that occur within the coopetition in the different forms of coworking-spaces.

Necessity Is the Mother of Isomorphism

Does poverty hinder or encourage market creativity? Businesses that offer novel, creative products have greater growth potential than businesses that conform to market norms. Yet the literature offers conflicting views on the relationship between poverty and market creativity. Some research suggests poverty restricts entrepreneurs' capacity to offer novel products, whereas other work suggests poverty facilitates creativity in the marketplace. This paper addresses that tension by examining the shifting relationship between poverty and market creativity across stages of business development. Drawing on survey and interview data from Panama, this paper shows how entrepreneurs are both catalyzed and constrained by conditions of poverty. Poor individuals actively generate novel venture concepts in the early stages of business development. In later stages, however, they struggle to sustain novel businesses. Ultimately, poverty limits entrepreneurs' capacity to profit from the creativity they bring to the marketplace. This paper elucidates the dual relationship between poverty and creativity, and helps explain why economic mobility via self-employment proves elusive for the poor.

How Customer Interaction and Experimentation Advance New Venture Concepts in a Cleantech Accelerat

Entrepreneurs often conduct experiments and interactions with potential customers to advance early concepts for a business venture to improve its likelihood of commercial success. Both approaches f...

New Venture Design – Interdisciplinary Capstone Projects at UBC

New Venture Design is an interdisciplinary project course across Engineering and Business at UBC,whose primary goal is to provide students of both faculties with knowledge and practical experience related to the formation of an entrepreneurial venture based on the development of a new product or process. Working in teams of 6 students (3 engineering students and 3 business students), the end-goal in the course is to produce a viable product prototype (the primary responsibility of the engineering students) and the necessary business plan (the primary responsibility of the business students) to ensure its success in the marketplace. This course is a combination of both lecture instruction (on creativity, business plans, patents, prototyping, fabrication, funding, tax credits, etc.) and dedicated lab-time in which student teams will advance their new venture concept toward market introduction. The teams enter many business plans competitions in the province, across North America (and beyond). Some teams go much further and file provisional patents, or incorporate a company. Starting in 2003, the course has now run for 8 years; several of the project teams have actually started a company based on their idea, or have created other new ventures. This paper summarizes the course, its motivation, details the current framework and syllabus, and reflects on lessons learned.

Entrepreneurship: an innovator's guide to startups and corporate ventures

Acknowledgments Introduction Part I. Defining the Venture Concept 1. Identifying Your Industry, The Target Sector in the Industry, and Type of Business 2. Developing the Venture Concept 3. Getting Into The Hearts and Minds of the Target Customers 4. Defining the Business Model for a Venture 5. Transforming a Product or Service Idea Into a Product Line and Service Strategy 6. Positioning Your Venture: Thinking Deeply About Competitors and Customers 7. A Reality Check on the Venture Concept and the Business Model Part II. Writing the Business Plan and Making the Pitch 8. Sources of Finance for Startups and Corporate Ventures 9. Projecting the Financial Performance and Requirements for the Venture 10. Organizing the Venture Team 11. Writing the Business Plan! 12. Making the Pitch Venture Cases Index About the Authors

The Broad Concept Of Joint Venture: Should It Have A Fixed Legal Meaning?

What are joint ventures? What are the characteristics of a joint venture? Definitions and features of joint ventures will be considered in various jurisdictions with an emphasis on Australia and New Zealand. Should joint venture have a fixed legal meaning?

Dimensions of environmentally sustainable innovation: the structure of eco‐innovation concepts

AbstractThe present study analyses environmentally sustainable innovation, or eco‐innovation for short, from the perspective of extant theories of innovation, in order to establish dominant structures of such innovations and current weaknesses, as well as fruitful ways forward. 105 venture concepts were sampled from the winning contributions of a national environmental innovation competition, and analysed in terms of Schumpeterian innovation type and innovation mode (radical–incremental and component–architectural). The resulting distribution confirms a bias towards incremental process innovations, but points towards interesting characteristics in radical–architectural modes of eco‐innovation, e.g. the tendency to combine ‘hardware’ and ‘software’, or technology and social arrangements, the combination of generically diverse technologies and finally the ‘eco‐enabling’ of old technologies by the application of new ones. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment.

ViPiA: A Project for European Entrepreneurship

The Virtual Pre-Incubator Accelerator (ViPiA) is a two-year project funded by the European Commission. The main goal of the programme is to create a training package for would-be entrepreneurs to assist them in developing their new venture concepts to a level at which they become attractive to potential investors. This paper describes and discusses the ViPiA project and the approach adopted in the development of its virtual learning network. The network, accessed via the ViPiA portal, offers support to entrepreneurs by providing valuable services to help them transform their ideas into successful start-ups.

Critical Contingencies in Joint Venture Management: Some Lessons from Managers

This study is an integrative examination of three aspects of joint venture formation: complementarity of the partners, ownership/control and joint venture autonomy. Past research has examined each of these concepts individually without considering potential interactive effects. Moreover, most past studies have used global measurements ignoring critical dimensions within each concept. For example, most studies of ownership/control have examined the effects of dominant control by one partner versus shared influence. This approach overlooks the possibility that joint venture parents may exert varying degrees of control over decision making in the different functional areas. Personal interviews of 98 managers involved in oil and gas exploration and production joint ventures are used in an investigation of the three joint venture concepts. In this industry, complementarity had little if any effect on joint venture performance. In fact, complementarity actually appeared to have a negative impact on several dimensions of joint venture performance. Qualitative data suggest that joint venture partners with distinctive competencies in different functional areas may experience difficulties in implementing potential complementarities. Moreover, it may be important for all joint venture partners to perceive some influence over the strategic decisions of the joint venture, regardless of their actual influence over those decisions. Perhaps the most important implications of this study are for future joint venture research. First, a dimensionalized approach to the issues of implementation and performance is justified. Examining ownership/control over each functional area provided additional insights into issues of joint venture management and aided in explaining the results of tests using global measures. Second, analyses of joint venture autonomy and ownership/control produced different results based on the functional area under consideration. Thus, the use of global measures is likely to result in the loss of information. Third, joint venture performance is a multidimensional concept. The results of the analyses related to performance varied according to the dimension of performance under consideration. Some measures of performance were actually negatively related to others. It is believed that this outcome is appropriate. Performance is measured relative to the various goals established for a joint venture. Some goals may be in conflict with others or present managers with tradeoffs to consider. Research that fails to consider multiple dimensions of performance may lose some of the richness of the performance concept. Finally, joint ventures are particularly likely to be subject to goal conflicts since they are formed by two or more firms, each with its own set of goals. Ultimately, a joint venture is measured by the extent to which the venture meets the goals and expectations of the individual partners. As a result, it is necessary for joint venture research to examine performance related issues from the perspective of the individual partners.

New Product Development and the Venture Concept

Industrial venture systems have been devised and implemented for many years, but examination of the literature dealing with the concept shows a lack of consistency of definition. The “venture” label is freely applied to management styles which differ in important respects. Often, the only common feature is that the object of discussion is an industrial subgroup concerned with innovation. In particular, there is a marked failure to distinguish between venture systems in the USA and the quasi‐venture systems which tend to operate elsewhere.

A case study in venture management

This paper examines the venture concept as a means of stimulating new product development within large companies. The literature reveals a significant difference between the venture idea as originally conceived in North America and as applied in European companies. A case study of a UK venture experiment is then presented which clearly demonstrates the resistance to substantive change which may characterise large organisations.

Innovation through new ventures: new venture concept in BOC

AbstractDuring the last decade there has been increasing questioning in industrial firms of the value and returns from conventionally organized R & D particularly from central research organizations concerned with longer term innovation. This paper describes how one multi‐divisional company, with a wide range of markets, has radically changed its Central R & D function to a Pilot Venture structure, with the object of greatly increasing its effectiveness.The main concepts involved in this ‘New Venture Secretariat’ are not new, but it is felt the particular approach used is novel.