scholarly journals Comparing Bootstrapping High-Tech Start-Up Companies in the West and in a Transition Country

2020 ◽  
Vol 7 (1) ◽  
pp. 7-14
Author(s):  
Dragana Popovic Renella ◽  
Vojin Senk ◽  
Fuada Stankovic
Keyword(s):  
Essential Feature ◽  
High Tech ◽  
Information Feedback ◽  
Industrialized Countries ◽  
Transition Country ◽  
The West ◽  
Start Up ◽  
The One ◽  
Start Ups

This is a study of the process of the development of high-tech start-up companies through the mechanisms of bootstrapping in two extremely different environments: the one of highly industrialized countries, such as USA and Switzerland; the other of Serbia, which is a post-communist transition country with particular difficulties. The research method is the analysis of case studies. One case study of US and two of Swiss start-ups build the base for the analysis. All three cases show common patterns: from the very beginning, these companies sell R&D services in their fields of expertise; and using the cash from these early sales, and the information feedback from cooperation with the early customers, they develop their resources and, eventually, also their own high-tech products. The essential feature of this process is the selling of R&D services and the first products in the neighborhoods. Then also two cases of high-tech start-ups from Serbia are analyzed. Both Serbian start-ups are founded in partnership with small high-tech companies from highly industrialized countries (Switzerland and Germany). The Western partners use their reputations and contacts to enable the early sales of the Serbian start-ups in the industrialized countries. This is crucial for the Serbian start-ups, because they have no domestic market for R&D services. Apart of this element, all other essential patterns of the Serbian cases are very similar to those of the Western cases.

scholarly journals Open accelerators for start-ups success: a case study

2017 ◽  
Vol 20 (1) ◽  
pp. 80-111 ◽  
Author(s):  
Cinzia Battistella ◽  
Alberto F. De Toni ◽  
Elena Pessot
Keyword(s):  
Open Innovation ◽  
Research Question ◽  
Innovation Process ◽  
Open Approach ◽  
Content Type ◽  
Start Up ◽  
The One ◽  
Innovation Practices ◽  
Start Ups

Purpose The purpose of this paper is to investigate how the context of open innovation offered by accelerators can affect the successful growth of start-ups. The authors explore accelerators practices and tools in sustaining start-ups and increasing survival probability in their innovation process, with the aim of addressing the following research question: how can start-ups benefit from participation in an accelerator programme from an open innovation perspective? Design/methodology/approach A review of the literature on start-up successes and failures and on major practices in the open innovation paradigm was carried out, delineating them in the context of accelerators. Given the absence of literature on accelerator practices for supporting start-ups, and aiming at a comprehensive understanding of how the open environment within the accelerator influences a start-up’s survival (or even success) by mitigating the probability of failure, the authors conducted an exploratory case study in an English accelerator. Findings The open innovation practices mediated by an accelerator and the ones that are not covered, but that can benefit a start-up’s survival, are shown. On the one hand, main effective practices, such as dyadic co-creation with accelerator network partners and crowdsourcing, are revealed to address mostly the lack of, or wrong direction in, product, marketing and relative managerial abilities, which are not usually owned by a start-up due to its “newness”. On the other hand, some causes of failures, such as the intrinsic characteristics of founder teams, do not seem to be addressed by an open approach and neither does participation in an accelerator programme. Originality/value This paper is the first to study and link the literature on accelerators, start-ups and open innovation.

scholarly journals Start-up as a tool for implementation of investment decisions

2018 ◽  
Vol 2 (2) ◽  
pp. 1-11
Author(s):  
Olga Gura
Keyword(s):  
High Speed ◽  
High Tech ◽  
Start Up ◽  
High Tech Product ◽  
Global Companies ◽  
Technology Talent ◽  
The One ◽  
The Right ◽  
In The Beginning ◽  
Start Ups

Introduction. Start-up is the first necessary stage of a life cycle of innovations. Discovering of foreign experience shows us a limited count of theoretical researches  in case of the start-up business methodology. A high-speed system of a support of the start-ups  is the fundament for an activation of innovations deals, the increase of the volume of innovations production, the export of high-tech product. Aim and tasks. The aim of the article is discovering of the matter and conditions of Ukrainian IT-business, finding the main sources of a financing of the start-ups in conditions of national economy instability and the detection of potential investment sources for some innovation projects on the data of the start-ups modern financing condition. This article uses dialectical method of research of economy actions and processes in their development and interconnection, systematically way for researching issues. Research results. The start-up business has differences from the ordinary business, because the investors invest money in it in the beginning of existence, not in time of successful working. One of the main spheres of the modern start-up business is IT-industry. The biggest spheres of modern investment: the outsourcing, the “Angels’ investments”, the crowdfunding. The Venture Capital and Direct Investment Association (UVCAeu) was founded in Ukraine and the task of this association is the assistance for global companies development in Ukraine and connecting Ukrainian and world’s start-up communities. Conclusions. Ukraine is becoming the IT-nation. The Technology talent is the unique feature of our country. The one we really need is the entrepreneurial grip in meaning of the right presentation of our product. Today we have to be confident in our start-ups prospective, and each year the world will talk more and more about the success of the Ukrainian projects and our country in general.

scholarly journals VALUE CO-CREATION THROUGH SOCIAL MEDIA: A CASE STUDY OF A START-UP COMPANY

2019 ◽  
Vol 20 (1) ◽  
pp. 1-19 ◽  
Author(s):  
Junic Kim ◽  
Hwanho Choi
Keyword(s):  
Social Media ◽  
Value Creation ◽  
Small Businesses ◽  
Start Up ◽  
Media Platform ◽  
Social Media Tools ◽  
Start Ups ◽  
The Relationship ◽  
Social Media Strategy

This research examines social media users’ value-creation processes and the drivers of a start-up company’s successful social media strategy. This research primarily aims to understand start-ups’ effective utilization of social media and value co-creation processes. Although utilizing social media has become key for many organizations, start-ups and small businesses often suffer from a lack of understanding and knowledge of the utilization of social media tools. Therefore, this article uses a case study on the relationship between a social media platform and users’ value co-creation to offer a conceptual framework for start-ups to consider in utilizing social media. Our research reveals that four core drivers of social media success include experience, satisfaction, expression, and sharing ability. Each of these drivers in turn contains conditions for understanding users’ value-creation process and the creation of drivers for successful social media strategies. The research contributes to literature by providing a detailed review of users’ value co-creation as a part of a start-up’s successful social media strategy.

Characteristics and Determinants of New Start-ups in Gujarat, India

2020 ◽  
Vol 1 (2) ◽  
pp. 1-25
Author(s):  
Ajay Kumar ◽  
Bhim Jyoti
Keyword(s):  
Sample Size ◽  
Regression Models ◽  
New Products ◽  
Small Sample ◽  
The Body ◽  
High Tech ◽  
Annual Sale ◽  
Factors Affecting ◽  
Start Up ◽  
Start Ups

Purpose: This study examines the relationship of socio-economic characteristics of start-ups with their size in Gujarat, India. It also assesses the determinants affecting the annual sale of start-ups. Methods: It includes primary information based on a survey of 120 founders of start-ups. Linear and semi-log linear regression models have been applied to assess the determinants of start-ups. Probit regression models have been considered to assess the factors affecting the annual sale of the start-ups. Results: Stage of start-up, the participation of founders in conferences, educational qualification, and new products launched by start-ups, professional connections of founders, source of funding, and support from incubator/accelerator/supporting organizations are found crucial determinants of start-up size in Gujarat. The annual sales of the start-ups are positively associated with stage of start-up, support from a mentor, team members, founder's academic qualification, and collaboration with national or international organizations, unskilled workers. Implications: Technology transfer and commercialization, development of new products, government regulations, the requirement of costumers, free rights for entrepreneurs, appropriate financial support for new entrepreneurs, transparency and clarity in government policies, the establishment of high-tech start-ups, and development of digital infrastructure, increase in R&D spending in research academia, and association of research institutions with entrepreneurs would be conducive to create an appropriate start-ups ecosystem and to reduce regional development disparities across Indian states. Subsequently, it would be helpful to increase sustainable development in India.  Originality: This study has used primary information of 120 founders of start-ups to assess the determinants, and the factors affecting annual sales of start-ups using the regression model in, Gujrat, India. Thus, it has an empirical contribution to the body of knowledge. Limitations: This study could not provide rational justifications on most factors that show an insignificant impact on start-ups due to the small sample size. Further research, therefore, may be considered to identify the association of start-up size with the variables using a large sample size in India.  

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.

Human Resource Blueprints in Irish High-Tech Start-up Firms

2006 ◽  
Vol 20 (2) ◽  
pp. 111-121
Author(s):  
Mary A. Keating ◽  
Mariabrisa Olivares
Keyword(s):  
Empirical Study ◽  
Human Resources ◽  
Human Resource ◽  
Human Resources Management ◽  
High Tech ◽  
Entrepreneurial Firms ◽  
Resources Management ◽  
Start Up ◽  
Research Findings ◽  
Start Ups

Focusing on Irish high-tech start-ups, this paper reports on the results of an empirical study of organization building by entrepreneurial firms, specifically in relation to human resource practices. The research findings are benchmarked with findings from SPEC, the Stanford Project of Emerging Companies (Baron and Hannan, 2002). Human resources management and entrepreneurial research have rarely been combined in the literature and there is no distinct body of work in the area of human resource management in entrepreneurial firms.

Financial Statement and Projection Preparation in Start-Up Ventures

2009 ◽  
Vol 84 (1) ◽  
pp. 27-51 ◽  
Author(s):  
Gavin Cassar
Keyword(s):  
Information Economics ◽  
Financial Statements ◽  
Financial Statement ◽  
High Tech ◽  
Economic Significance ◽  
Sales Forecasts ◽  
Start Up ◽  
Fundamental Uncertainty ◽  
Start Ups ◽  
Funding Level

ABSTRACT: Using a representative sample of entrepreneurs who are in the process of starting a business, this study investigates the determinants of the preparation of financial statements and projections in start-up ventures. Consistent with predictions from information economics and contracting, I find that the use of outside funding, level of competition, and venture scale are positively associated with the intended frequency of financial statement preparation. However, comparing the economic significance of alternative influences suggests that the benefit of reducing competitive and fundamental uncertainty is more influential in explaining variations in intentions to prepare financial statements. Further, I find the determinants of preparation frequency vary among different financial statements; for instance, cash statements are more important for start-ups with products in earlier stages of development and with greater competition. In contrast to financial statements, the preparation of projections such as formal financial projections and regular sales forecasts by start-ups is positively associated with the importance of intangible investments such as patents, research and development, and with start-ups in high-tech industries.

scholarly journals Analisis Perbandingan Algoritma Decision Tree, kNN, dan Naive Bayes untuk Prediksi Kesuksesan Start-up

2021 ◽  
Vol 6 (3) ◽  
pp. 178-188
Author(s):  
Adhitya Prayoga Permana ◽  
Kurniyatul Ainiyah ◽  
Khadijah Fahmi Hayati Holle
Keyword(s):  
Decision Tree ◽  
Naive Bayes ◽  
Naïve Bayes ◽  
Test Results ◽  
Decision Tree Algorithm ◽  
Tree Algorithm ◽  
Start Up ◽  
The Many ◽  
Start Ups

Start-ups have a very important role in economic growth, the existence of a start-up can open up many new jobs. However, not all start-ups that are developing can become successful start-ups. This is because start-ups have a high failure rate, data shows that 75% of start-ups fail in their development. Therefore, it is important to classify the successful and failed start-ups, so that later it can be used to see the factors that most influence start-up success, and can also predict the success of a start-up. Among the many classifications in data mining, the Decision Tree, kNN, and Naïve Bayes algorithms are the algorithms that the authors chose to classify the 923 start-up data records that were previously obtained. The test results using cross-validation and T-test show that the Decision Tree Algorithm is the most appropriate algorithm for classifying in this case study. This is evidenced by the accuracy value obtained from the Decision Tree algorithm, which is greater than other algorithms, which is 79.29%, while the kNN algorithm has an accuracy value of 66.69%, and Naive Bayes is 64.21%.

Enterprise survival in the high-tech community: persuasion and power in board decisions

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ronit Yitshaki ◽  
Eli Gimmon ◽  
Susanna Khavul
Keyword(s):  
High Tech ◽  
Structured Interviews ◽  
Board Size ◽  
Term Survival ◽  
Long Term Survival ◽  
Content Type ◽  
Board Processes ◽  
Start Up ◽  
Start Ups

Purpose This study aims to examine the extent to which board size, the use of power by venture capital investors and entrepreneurs’ interpersonal tactics such as persuasion to sway board decisions, influence the long-term survival of start-ups. Design/methodology/approach This study used a mixed-methods approach. The quantitative part is based on data collected from 179 chief executive officers (CEOs) of high-tech start-ups community financed by venture capitalists (VCs) in Israel of which 59 did not survive. To achieve a better understanding of these findings, semi-structured interviews with 12 entrepreneurs were conducted. Findings Smaller boards were positively associated with venture survival. The use of power by VC investors positively influenced start-up survival. CEO persuasion had a negative effect on venture survival; however, its interaction with board size suggests that it had a lesser effect on very small boards. Practical implications Although investors’ control over decision-making contributes to long-term survival, entrepreneurs should be aware of the possible detrimental effects of exercising a high level of persuasion in board processes. The findings also suggest that a small board size is preferable for start-up survival. Originality/value Exploring the effect of board processes on venture survival is considered complex. A unique sample of high-technology start-ups consisting of both surviving and failed start-ups was analyzed to explore the effects of persuasion and power in board processes.

Esperienza lavorativa dei fondatori e sopravvivenza delle giovani imprese high-tech in mercati in crisi

2009 ◽  
pp. 41-61
Author(s):  
Luca Grilli
Keyword(s):  
Human Capital ◽  
Work Experience ◽  
Firm Survival ◽  
Jel Classification ◽  
High Tech ◽  
Specific Work ◽  
Alternative Employment ◽  
Start Up ◽  
The One ◽  
The Impact

- This article adds new insights into the relationship between the founders' human capital and the survival prospects of start-up businesses. The impact of founders' human capital on firm survival is controversial. On the one hand, more experienced and skilled individuals are likely to create start-up businesses with a high chance of survival; on the other hand, their opportunity costs to run the firm may be high given the potential returns for investing their efforts in alternative employment opportunities. Analysing a sample of 179 Italian start-up companies created during 1995-early 2000 and operating in the ICT services markets, this study provides evidence that, in intense industry crises (early 2000-2003), highly work-experienced entrepreneurs may pursue an exit strategy, highlighting the importance of distinguishing between different types of work experience and different exit routes. In particular, founding teams with highly specific work experience show higher probability of following the M&A route, while a higher level of generic work experience is more conducive to closure. Keywords: high-tech entrepreneurship; young firm survival; founders' human capital Parole chiave: imprenditorialitŕ high-tech; sopravvivenza di giovani imprese; capitale umano degli imprenditori Jel Classification: L26 - L86

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