Does venture capital help to promote open innovation practice? Evidence from China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rui Yi ◽  
Haojun Wang ◽  
Bei Lyu ◽  
Qinghua Xia
Keyword(s):  
Venture Capital ◽  
Emerging Economies ◽  
Open Innovation ◽  
Specific Mechanism ◽  
Promoting Effect ◽  
Innovation Ecosystem ◽  
Content Type ◽  
Growth Enterprise Market ◽  
Executive Incentives ◽  
Industry Experience

PurposeThe study aims to empirically study the effect of venture capital on open innovation of China's enterprises.Design/methodology/approachThis paper selects China's A-share listed companies on the small and medium-sized enterprises (SMEs) board and the Growth Enterprise Market from 2014 to 2018 as research samples to empirically study the effect of venture capital on open innovation of China's enterprises.FindingsThe authors find that venture capital can significantly promote open innovation of enterprises. This promoting effect is more significant when the venture capital institutions have profounder industry experience, higher shareholding ratio and are syndicated. Further research finds that venture capital mainly promotes open innovation through three mechanisms: increasing monetary funds, improving absorptive capacity and strengthening executive incentives, and the effect of venture capital on open innovation is significantly different under the conditions of different regions, industries and property rights.Originality/valueThis paper not only reveals the effect of venture capital on enterprises' open innovation and the specific mechanism, but also provides empirical evidence for emerging economies to build a national innovation ecosystem and make use of capital markets to accelerate innovation strategies.

Network centrality and innovation performance: the role of formal and informal institutions in emerging economies

2019 ◽  
Vol 34 (6) ◽  
pp. 1388-1400 ◽  
Author(s):  
Haifeng Wang ◽  
Yapu Zhao ◽  
Beilei Dang ◽  
Pengfei Han ◽  
Xin Shi
Keyword(s):  
Social Cohesion ◽  
Emerging Economies ◽  
Informal Institutions ◽  
Innovation Performance ◽  
Network Centrality ◽  
Entrepreneurial Firms ◽  
Content Type ◽  
Growth Enterprise Market ◽  
Formal And Informal Institutions ◽  
The Impact

Purpose The impact of network centrality on innovation performance is inconclusive. The purpose of this paper is to examine how formal and informal institutions affect the influence of network centrality on firms’ innovation performance in emerging economies by integrating social network theory and institutional theory. Design/methodology/approach Multisource and lagged data from 234 technology-based entrepreneurial firms listed on the Chinese Growth Enterprise Market were leveraged to test a proposed research model. Findings Results suggest that formal institutions (marketization) positively moderate the relationship between network centrality and innovation performance, whereas informal institutions (social cohesion) negatively moderate this relationship. Moreover, formal and informal institutions have a strong joint impact on such relationship, that is, the effect of network centrality on innovation performance is most positive when marketization is high and social cohesion is low. Originality/value This empirical research provides new insights into whether and how firms can grasp the innovation benefits of network centrality by exploring institutional contingencies. It further sheds on light the scope of the network centrality–innovation issue by extending its research context to Chinese entrepreneurial firms.

scholarly journals Accelerating chemical start-ups in ecosystems: the need for biotopes

2017 ◽  
Vol 20 (1) ◽  
pp. 135-152 ◽  
Author(s):  
Maarten J.G.M. van Gils ◽  
Floris P.J.T. Rutjes
Keyword(s):  
Open Innovation ◽  
Organizational Capacity ◽  
Innovation Process ◽  
Ecosystem Model ◽  
Innovation Ecosystem ◽  
Content Type ◽  
Start Up ◽  
Innovation Practices ◽  
Start Ups

Purpose The purpose of this paper is to clarify the relationship between start-ups and an innovation ecosystem. Start-ups need resources available in the ecosystem to grow, but experience organizational capacity limitations during their open innovation practices. This study frames the “open innovation” interface and discloses ways to accelerate the process of connecting start-ups’ demands to ecosystem’s supplies. Design/methodology/approach A case study was used to describe the development of a conceptual ecosystem model to frame the “open innovation” interface and its subsequent implementation at nine start-up hotspots in the Dutch chemical industry. To develop the ecosystem model, the system of innovation concept was enriched with the perspective of a chemical start-up to pinpoint critical resources for growth. Findings It is suggested that the most relevant “open innovation” interface for start-ups looking to grow is an innovation biotope: a well-defined, business-oriented cross-section of an ecosystem. All stakeholders in a biotope are carefully selected based on the entrepreneurial issue at stake: they can only enter the secured marketplace if they are able to provide dedicated solutions to start-ups. The biotope enables “open innovation in a closed system” which results in acceleration of the innovation process. Originality/value This is the first study to report on the definition and implementation of an innovation biotope as the “open innovation” interface between an ecosystem and start-ups. In addition, it provides a powerful tool, the ecosystem canvas, that can help both regional and national innovation systems to visualize their ecosystem and identify blind spots.

University-industry knowledge exchange

2015 ◽  
Vol 18 (4) ◽  
pp. 471-492 ◽  
Author(s):  
Ludmila Striukova ◽  
Thierry Rayna
Keyword(s):  
Open Innovation ◽  
Knowledge Exchange ◽  
Structured Interviews ◽  
Innovation Ecosystem ◽  
Content Type ◽  
Main Research ◽  
Data Saturation ◽  
Vice Chancellors ◽  
The Uk

Purpose – The purpose of this paper is to provide a better understanding of what Open Innovation means within university context. Focus is also put on the role universities believe they should play in Open Innovation, as well as the changes that might have arisen as a consequence of universities’ greater awareness of this concept. Design/methodology/approach – The research methodology used is an exploratory study based on in-depth semi-structured interviews of Pro-Vice-Chancellors (or equivalent level) of a variety of British universities. The study was designed around five main research themes: discourse, change, strategy, management, Open Innovation success. Findings – In addition to the traditional teaching, research and knowledge transfer roles of university, this study has uncovered a new role of universities: trusted intermediary (or “Open Innovation Hub”). Another key finding of this study is that it highlights the diversity that prevails in the UK with regard to Open Innovation. Research limitations/implications – The number of the interviews conducted for this study is probably not large enough to allow a solid generalisation. Data saturation, however, was achieved in this study. The insight provided by this study is particularly significant as interviewees were amongst the highest-ranking executives in their respective universities. Hence the views reported in this study are what “drives” Open Innovation policies in the universities that participated in this study. Practical implications – This new role of a trusted intermediary played by universities is very likely to change the existing Open Innovation landscape and re-shape policies. Social implications – The changing role of universities within Open Innovation context may potentially change the respective role of other stakeholders in the Open Innovation ecosystem. Originality/value – This is the first study aimed at investigating how British universities understand Open Innovation and what opportunities and challenges they associate with this process.

Benchmarking of factors influencing adoption of innovation in software product SMEs

2019 ◽  
Vol 26 (5) ◽  
pp. 1451-1468 ◽  
Author(s):  
Sumukh Hungund ◽  
Venkatesh Mani
Keyword(s):  
Emerging Economies ◽  
Open Innovation ◽  
External Factors ◽  
Decision Makers ◽  
Firm Level ◽  
Content Type ◽  
Factors Influencing ◽  
Adoption Of Innovation ◽  
Innovation Approach ◽  
Closed Innovation

Purpose The purpose of this paper is to investigate the factors influencing small and medium enterprises’ (SMEs) adoption of innovation approaches. Design/methodology/approach The methodology involves two steps. First, all the variables relevant to the adoption of innovation in SMEs are identified. Subsequently, primary data are gathered from decision makers of 213 SMEs, and a multinomial logistic regression analysis is performed. Findings The results indicate that SMEs adopt both open innovation and closed innovation approaches. The firm-level factors such as firm age, firm size, education qualification, work experience and culture, and external factors such as customers, competition, technological advances and ecosystem influence adoption of open innovation approach compared to closed innovation approach. Factors such as culture among firm-level factors and competition among external factors influence the adoption of closed innovation approach. Practical implications The study helps the managers or the decision makers of the SMEs to know the suitable factors influencing the firm to adopt innovation which could potentially help the firms in their business strategy. Originality/value The study explores the adoption of innovation approaches of SMEs in emerging economies. The outcomes of this research have far-reaching implications for theory and practitioners in emerging economies.

Open innovation ecosystems: toward low-cost wind energy startups

2020 ◽  
Vol 14 (5) ◽  
pp. 853-869
Author(s):  
Muhammad Aftab Alam ◽  
Kashif Mateen Ansari
Keyword(s):  
Wind Energy ◽  
Open Innovation ◽  
Low Cost ◽  
Ecosystem Model ◽  
Energy Sector ◽  
Innovation Ecosystem ◽  
Initial Development ◽  
Content Type ◽  
Innovation Ecosystems ◽  
The Government

Purpose The purpose of this paper is to demonstrate how an open innovation strategy of public management in the energy sector enables the creation of innovation ecosystems and how it reduces the cost of wind energy projects in energy-poor countries. Design/methodology/approach This research study reflects on seven wind energy startups (WESs) in Pakistan using quantitative and qualitative data following a sequential mixed-methods approach. First, it draws from growing literature on innovation and renewable energy management to conceptualize an open innovation ecosystem model around WESs. It then tests this model using cost analyses of wind projects and identifies possible cost-saving strategies. Finally, follow-up interviews with managers in investigated projects cross check study findings and validate the model. Findings Three noteworthy findings can help policymakers in developing countries to effectively meet the future energy challenges and get benefit from international funding opportunities: by protecting lenders on approved terms rather than offering sovereign guarantee to operating firms; by letting the government take control of the initial development phase; and by giving off-take guarantees to the manufacturers. Practical implications It offers policy recommendations to energy sector managers about guarantees, financing, regulators, governmental control, tariffs and transfer of technology that can significantly curtail outlays. Originality/value Results suggest that adopting an open innovation ecosystem model can potentially save around 6 per cent ($4-$7m) in the overall cost of a 50 MW wind energy project.

scholarly journals The structural characteristics of innovation ecosystem: a fashion case

2018 ◽  
Vol 21 (4) ◽  
pp. 620-635 ◽  
Author(s):  
Shuyu Lin
Keyword(s):  
Empirical Evidence ◽  
Open Innovation ◽  
Structural Characteristics ◽  
Creative Industries ◽  
Innovation Ecosystem ◽  
Research Attention ◽  
Content Type ◽  
The Uk ◽  
Innovation Mechanism

Purpose The purpose of this paper is to provide empirical evidence of open innovation mechanism specific to aesthetic innovation. Prior research have drawn its research attention to technological innovation and focussed on the biopharmaceutical and technological sectors as the main research contexts. Thus, to gain a wider picture of the structural characteristics of innovation ecosystem, this paper aims to complement the existing technological-centred literature and provides understanding of aesthetic innovation by focussing on exploring the role of actors and intermediaries in either facilitating or inhibiting innovation in the creative sector. Design/methodology/approach This is an exploratory study and the qualitative method was employed. With aim to explore aesthetic innovation in the creative sector, this research grounded its context in the UK designer fashion sector, which is part of the creative industries. Data were collected through a series of semi-structured interviews with respondents being purposely selected so as to ensure representativeness. A wider range of participants within the designer fashion sector was covered. Such multiple-sourced data collection approach allowed this research to triangulate data so that research trustworthiness was enhanced. Findings The result suggests the role of a broker in beyond traditionally facilitating knowledge exchange. This paper provides empirical evidence regarding the critical role of a broker in shaping the open innovation mechanism when it comes to aesthetic innovation. A broker in fact occupies a strategic position that allows it to negotiate relationships among the connected organisations and thus to govern the interaction mechanism of the innovation ecosystem as a whole. Given the empowered broker in such setting, the relationship between innovation creators and innovation seekers is controlled by a broker, which leads to risk that an innovation creator may not fully appropriate the value that it creates. Research limitations/implications The main limitation of this study is its specific context, that is, the UK designer fashion industry. Such focus limits the scope of generalisation particularly its application to the entire creative sector. Thus, it is suggested that future research may consider to explore other creative industries so that the understanding of the open innovation mechanism from a structural perspective applied to aesthetic innovation can be enhanced. Originality/value This paper outlines the structural mechanism of open innovation applied to aesthetic innovation. The result contributes to the literature by complementing the findings derived from technology-centred research. Also, empirical evidence of this study is particularly of value to policy makers in the aspect of creative sector development. The suggested implications provide strategies of innovation ecosystem that could benefit individual actors involved in this open innovation setting and ensure prosper of the sector as a whole.

Examining open innovation practices in low-tech SMEs: insights from an emerging market

2019 ◽  
Vol 10 (3) ◽  
pp. 509-532 ◽  
Author(s):  
Stephen Oduro
Keyword(s):  
Emerging Economies ◽  
Strategic Alliances ◽  
Open Innovation ◽  
Emerging Market ◽  
High Tech ◽  
Structured Interviews ◽  
Statistical Tool ◽  
Content Type ◽  
Innovation Research ◽  
Innovation Model

Purpose Much of the scholarly works on open innovation have significantly highlighted the application of the model in high-tech industries in the developed world. However, how the phenomenon applies in low-tech small and medium-sized enterprises (SMEs) in developing countries is still marginal and lacks substantive research. This study aims to draw on the network theory of innovation to examine the open innovation orientations of low-tech SMEs in an emerging market context, particularly Ghana. Design/methodology/approach The research design used was a qualitative–quantitative approach: the qualitative phase of the study, involving 31 low-tech SMEs, used a multiple case approach through semi-structured interviews and analyzed the interview responses using NVivo statistical tool; the quantitative phase, including 706 low-tech SMEs, also used a survey questionnaire approach and descriptively analyzed data collected using SPSS statistical tool. Findings Results disclose that the low-tech SMEs’ employment of the open innovation model are preponderantly driven by commercialization purposes, knowledge acquisition motives, financial motives and strategic motives, whereas their open innovation approaches include inbound strategies (collaboration with suppliers, co-creation/customer immersion), outbound strategies (IP licensing out) and coupled strategies (strategic alliances, contract manufacturing, and joint ventures). Moreover, the findings show that the SMEs’ preferred open innovation partners include suppliers, customers, private universities and non-industry, in that order. Finally, results show that the low-tech SMEs’ open innovation advantages include market gains, strategic gains, knowledge gains, operational gains, financial gains and network gains, whereas their open innovation challenges colossally were collaboration barriers and organizational barriers. Practical implications These findings purvey valuable perceptiveness for managers, academicians and policymakers alike; they highlight the importance of open innovation to low-tech SMEs, proven strategies, challenges involved and the mechanisms for effective and efficient adoption of the open innovation model. Originality/value The value of this study reclines in the extension of open innovation research from high-tech industries in the advanced world to low-tech SMEs in emerging economies. Results of the study enrich the knowledge and understanding of how the theoretical model of open innovation is adopted and implemented by the low-tech SME sector in emerging economies.

Identifying and describing constituents of innovation ecosystems

2019 ◽  
Vol 15 (3) ◽  
pp. 283-314 ◽  
Author(s):  
Pegah Yaghmaie ◽  
Wim Vanhaverbeke
Keyword(s):  
Open Innovation ◽  
Management Practices ◽  
State Of The Art ◽  
The State ◽  
Innovation Ecosystem ◽  
Content Type ◽  
Central Focus ◽  
Innovation Ecosystems ◽  
Level Of Analysis

Purpose Innovation ecosystems have not been defined univocally. The authors compare the different approaches to innovation ecosystems in the literature, the link with open innovation, the value creating and value capturing processes in innovation ecosystems, and the need to orchestrate them properly. In this way, the purpose of this paper is to provide a highly needed, concise overview of the state of the art in innovation ecosystem thinking. Design/methodology/approach A systematic screening of the literature searching for publications focusing on innovation ecosystems is carried out in the paper. The authors found 30 publications and compared the different approaches to innovation ecosystems: the authors classify them according to industries, the level of analysis, their central focus on innovation ecosystems, whether frameworks are developed in the publications, the main actors, focus on SMEs or large companies, the success of innovation ecosystems and the role of the orchestrator. Findings The authors found different approaches to innovation ecosystems in the literature. Some papers look at the link with open innovation, and others at the value creating and value capturing processes in innovation ecosystems, the role of orchestrators, etc. The authors also provide an overview about the industries, the level of analysis, the central focus of the research, the main actors in the networks and the success factors. The authors observe that most publications have been written in Europe and apply to European ecosystems. The approach in Europe is, to some extent, also different from the main focus of leading American scholars. Research limitations/implications The authors compare different approaches to innovation ecosystems. This provides a highly needed understanding of the state of the art in innovation ecosystem thinking. There are some limitations as well: the paper only does a literature review, and the authors are not developing a new framework to study innovation ecosystems. Practical implications The literature overview is not primarily focused on practitioners, but the tables in the paper provide a quick overview of good management practices for setting up and managing innovation ecosystems. Social implications Innovations ecosystems are, in some cases, established to solve major societal problems such as changes in healthcare, energy systems, etc. Therefore, they require the interaction between different types of partners including universities, research institutes and governmental agencies. Studying innovation ecosystems is crucial to facilitate social or societal changes. Originality/value The paper presents a highly needed overview of the literature about innovation ecosystems and a concise examination of the different aspects that are studied so far.

Corporate acceleration process: a systems psychodynamics perspective

2020 ◽  
Vol 33 (6) ◽  
pp. 1163-1180
Author(s):  
Piotr Wójcik ◽  
Krzysztof Obłój ◽  
Aleksandra Wąsowska ◽  
Szymon Wierciński
Keyword(s):  
Open Innovation ◽  
Negative Emotions ◽  
Acceleration Process ◽  
Content Type ◽  
Team Members ◽  
Third Phase ◽  
Multiple Case ◽  
Social Defenses ◽  
Practical Implications

PurposeThe purpose of this paper is to explore the emotional dynamics of the corporate acceleration process, using the systems psychodynamics perspective.Design/methodology/approachThe study applies inductive multiple case study of embedded 10 cases of corporate acceleration, covering both incumbent and startup perspectives, occurring in the context of a corporate accelerator.FindingsWe find that (1) the process of corporate acceleration involves three phases, each of them is dominated by a different emotional state (hope, anxiety and acceptance), triggering different behavioral responses; (2) as a means to deal with negative emotions, entrepreneurs and corporate acceleration program's team members develop different mechanisms of dealing with contradictories in subsequent acceleration phases (defense and copying mechanisms), which are reflected in their behaviors. Coping mechanisms with goal reformulation (i.e. refocus from the officially declared “open innovation” goals toward mainly symbolic ones) is an effective strategy to manage negative emotions in third phase of the acceleration.Research limitations/implicationsOur sample is limited to two relatively similar accelerators established by telecom companies, and therefore, our theoretical and practical conclusions cannot be generalized.Practical implicationsWe supplement the studies of corporate accelerators that imply how to design them better and improve decision-making rules with recommendation that in order to improve their effectiveness in terms of learning and innovations, their managers need not only to learn how to manage structural and procedural differences but also how to overcome social defenses triggered by corporate–startups cooperation.Originality/valueBy documenting a multidimensional impact of acceleration process, and especially shedding light on psychodynamic aspects behind such liaisons, this paper contributes to richer understanding of corporate–startup relationships, typically examined through a rationalistic lens of strategy literature. The study contributes to interorganizational research and open innovation literature, by showing that corporate acceleration process is marked by phases based on the type of emotions intertwined with the nature and dynamism of its life cycle. It indicates how these emotions are managed depending on their type.

scholarly journals Hyperoside promotes pollen tube growth by regulating the depolymerization effect of actin-depolymerizing factor 1 on microfilaments in okra

2021 ◽  
Vol 8 (1) ◽  
Author(s):  
Biying Dong ◽  
Qing Yang ◽  
Zhihua Song ◽  
Lili Niu ◽  
Hongyan Cao ◽  
...  
Keyword(s):  
Pollen Tube ◽  
Pollen Tube Growth ◽  
Pollen Germination ◽  
Pollen Tubes ◽  
Tube Growth ◽  
Actin Depolymerizing Factor ◽  
Specific Mechanism ◽  
Promoting Effect ◽  
New Research

AbstractMature pollen germinates rapidly on the stigma, extending its pollen tube to deliver sperm cells to the ovule for fertilization. The success of this process is an important factor that limits output. The flavonoid content increased significantly during pollen germination and pollen tube growth, which suggests it may play an important role in these processes. However, the specific mechanism of this involvement has been little researched. Our previous research found that hyperoside can prolong the flowering period of Abelmoschus esculentus (okra), but its specific mechanism is still unclear. Therefore, in this study, we focused on the effect of hyperoside in regulating the actin-depolymerizing factor (ADF), which further affects the germination and growth of pollen. We found that hyperoside can prolong the effective pollination period of okra by 2–3-fold and promote the growth of pollen tubes in the style. Then, we used Nicotiana benthamiana cells as a research system and found that hyperoside accelerates the depolymerization of intercellular microfilaments. Hyperoside can promote pollen germination and pollen tube elongation in vitro. Moreover, AeADF1 was identified out of all AeADF genes as being highly expressed in pollen tubes in response to hyperoside. In addition, hyperoside promoted AeADF1-mediated microfilament dissipation according to microfilament severing experiments in vitro. In the pollen tube, the gene expression of AeADF1 was reduced to 1/5 by oligonucleotide transfection. The decrease in the expression level of AeADF1 partially reduced the promoting effect of hyperoside on pollen germination and pollen tube growth. This research provides new research directions for flavonoids in reproductive development.

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