scholarly journals What Are the Features of Successful Medical Device Start-Ups? Evidence from KOREA

2019 ◽  
Vol 11 (7) ◽  
pp. 1948 ◽  
Author(s):  
Munjae Lee ◽  
Sewon Park ◽  
Kyu-Sung Lee
Keyword(s):  
Venture Capital ◽  
Medical Device ◽  
Industrial Revolution ◽  
Technical Skills ◽  
Healthcare Sector ◽  
Starting Point ◽  
Venture Capital Firms ◽  
A Priority ◽  
The Government ◽  
Start Ups

This study analyzes the factors determining the success of medical device start-ups, focusing on the healthcare sector as the starting point of the Fourth Industrial Revolution. The government is also working to establish a business model to revitalize medical device start-ups as a new driving force for the economy. Accordingly, such start-ups based on innovative technologies have been actively developed, but it seems that there is a limit to growth. We employed an analytical hierarchy process to derive an activation strategy for medical device start-ups. A survey was administered to experts in such start-ups, including medical device companies and venture capital firms, prospective start-up entrepreneurs, medical device developers, and professors. A total of 18 responses were obtained for analysis. The results revealed the following priorities for the success of medical device start-ups: technical skills, marketability, entrepreneurial capacity, and funding. In addition, medical device and venture capital firms were divided into separate groups and compared and analyzed. Technical skills are considered a priority for those in the medical industry. However, entrepreneurial skills are a priority for venture capitalists. Based on these results, we suggest measures for the success of medical device start-ups.

How Starting Strategy and Network Structure Shape Problemistic Search: An Examination of Venture Capital Firms

2021 ◽  
pp. 104225872110335
Author(s):  
Jake Duke ◽  
Taha Havakhor ◽  
Rachel Mui ◽  
Owen Parker
Keyword(s):  
Venture Capital ◽  
Network Structure ◽  
Theory Of The Firm ◽  
Behavioral Theory ◽  
Organizational Strategy ◽  
Search Process ◽  
Strategy Research ◽  
Structural Holes ◽  
Starting Point ◽  
Venture Capital Firms

Building on the behavioral theory of the firm, we empirically examine how starting strategies and syndication networks can influence venture capital (VC) firms’ problemistic search. We propose that: (a) depending on a VC’s strategic starting point, that is, the VC’s extent of specialization, the directionality of problemistic search may change to either expanding or contracting search activities; and (b) depending on search direction, structural holes in syndication networks can either impede or facilitate the problemistic search process. In a sample of U.S. VC firms, we find results consistent with our predictions, which have important implications for entrepreneurship and organizational strategy research.

CRITERIA FOR A SUCCESSFUL BUSINESS PLAN: PREFERENCES OF DIFFERENT FINANCING INSTITUTIONS

1996 ◽  
Vol 04 (02) ◽  
pp. 183-208
Author(s):  
TAN BENG KIM ◽  
JOANNE TAY
Keyword(s):  
Venture Capital ◽  
Commercial Banks ◽  
Business Plan ◽  
Study Data ◽  
Conservative Approach ◽  
Business Plans ◽  
Venture Capital Firms ◽  
Successful Business ◽  
The Government

A well-developed, well-written business plan is essential for entrepreneurs approaching banks or investors for funds. However, many entrepreneurs frequently underestimate the importance of a good business plan in increasing their chances of securing finance. This study aims to provide a better understanding of the criteria that different financing institutions in Singapore look for when assessing business plans. Such information can guide entrepreneurs in preparing their business plans and targetting different financing institutions. Fourteen institutions representing venture capital firms, commercial banks, finance companies and the government participated in this study. Data were collected through questionnaires and interviews. The results indicate general emphases on organisation and management, characteristics of the entrepreneur, and background and purpose of the proposed business. There is some indication that the criteria most highly emphasised will vary, depending on the type of financing institution, and the geographical and industry specialisation of the particular institution. In general, the participating institutions adopted a conservative approach which combined judgement and intuition.

Interest of Venture Capital Companies in Open Source-Based New Ventures

2012 ◽  
Vol 3 (4) ◽  
pp. 1-16
Author(s):  
Stefan Koch ◽  
Mürvet Ozan Özgür
Keyword(s):  
Venture Capital ◽  
Open Source ◽  
Open Source Software ◽  
Business Models ◽  
New Ventures ◽  
Qualitative Interviews ◽  
Community Support ◽  
Special Focus ◽  
Venture Capital Firms ◽  
Start Ups

This study focuses on the attitudes of venture capital companies with regard to investments into open source software-based start-ups in Turkey, with a special focus on their preference for different possible business models which these start-ups could be based on. A series of in-depth qualitative interviews has been done with managers of venture capital firms with an IT focus operating in Turkey. Currently, no investments proposal have been received, and an analysis of barriers has resulted in showing lack of support from institutions (especially universities) and insufficient community support, which blocks the development of related expertise. On the other hand, interest exists based on perceptions of open source software-based new ventures as more innovative with higher probability of returns when compared to their proprietary counterparts. This confirms prior theories. For future applications, venture capital firms would prefer dual or hosted business models when investing. Another major outcome is that researchers should step back and focus attention on reasons related with the immaturity of open source-based projects in Turkey.

scholarly journals Entrepreneurship and Innovation in the Digital Economy

2016 ◽  
Vol 21 (Special Edition) ◽  
pp. 273-312 ◽  
Author(s):  
Naved Hamid ◽  
Faizan Khalid
Keyword(s):  
Venture Capital ◽  
Digital Economy ◽  
Country Risk ◽  
Monitoring And Control ◽  
Venture Capital Firms ◽  
The Government ◽  
And Control ◽  
Immense Potential ◽  
Similar Growth ◽  
International Venture

It is believed that Pakistan’s digital economy will follow a similar growth trajectory to India, but with a lag of about five to six years. This implies that the digital economy in Pakistan carries immense potential and is likely to see very rapid growth in the next five years or so. This paper provides an overview of Pakistan’s digital economy in terms of international players, successful local businesses and rising stars in different segments of the industry. We also evaluate the role played by incubation centers. The industry’s emerging financial landscape appears to be attracting international venture capital firms, which is surprising, given the country risk and monitoring and control issues that are usually seen as binding constraints to investment. However, these investors use models tested in Silicon Valley and in countries such as India to estimate the potential for increase in the capital valuation of digital businesses in Pakistan. This development has also started to attract local investors. As a result, we are seeing the emergence of a venture capital industry in Pakistan. Finally, we examine the policy environment in the country and find that the existing tax policies, which were designed for traditional businesses, could be a major obstacle to the growth of the digital economy. We conclude by recommending that the government review its tax policy in view of the different nature of digital businesses and adapt it accordingly.

Exit strategy decision by venture capital firms in India using fuzzy AHP

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kiran Mehta ◽  
Renuka Sharma ◽  
Vishal Vyas ◽  
Jogeshwarpree Singh Kuckreja
Keyword(s):  
Venture Capital ◽  
Fuzzy Ahp ◽  
Survey Instrument ◽  
Primary Data ◽  
Exit Strategy ◽  
Managerial Implication ◽  
Content Type ◽  
Factors Affecting ◽  
Venture Capital Firms ◽  
Start Ups

Purpose The existing literature on venture capitalists’ (VCs’) exits provides insufficient evidence regarding factors affecting the exit decision. This study aims to identify these factors and examine how VC firms do ranking or prioritize these factors. Design/methodology/approach The study is based on primary data. The qualitative analysis was done to develop the survey instrument. Fuzzy analytical hierarchical process, which is a popular method of multi-criteria decision modeling, is used to identify or rank the determinants of exit strategy by venture capital firms in India. Findings Broadly, eight determinants of exit strategy are ranked by VCs. A total of 33 statements describe these eight determinants. The results are analyzed on the basis of four measures of VCs’ profile, i.e. age of VC firm, number of start-ups in portfolios, type of investment and amount of investment. Research limitations/implications The survey instrument needs to be validated with a larger sample size and other financial backers than VCs. Practical implications The study has direct managerial implication for VC firms as it provides useful information regarding the determinants of exit strategy by VC firms in India. These findings can provide necessary information to other financial backers too, viz., angel investors, banks, non-banking financial institutions and other individual and syndicated set-ups providing funding to start-ups. Originality/value The current research is unique as no prior study has explored the determinants of VCs exit strategy and prioritizing these determinants.

Corrupt Practices in the Public Health Sector: A Focus on Metropolitan Local Government Areas of Kano State, Nigeria

2020 ◽  
Vol 18 (2) ◽  
pp. 149
Author(s):  
Mohammed Mustapha Namadi
Keyword(s):  
Public Health ◽  
Local Government ◽  
Health Sector ◽  
Sampling Technique ◽  
Healthcare Services ◽  
Healthcare Sector ◽  
Healthcare Provision ◽  
The Public ◽  
Public Health Sector ◽  
The Government

Corruption is pervasive in Nigeria at all levels. Thus, despite recent gains in healthcare provision, the health sector faces numerous corruption related challenges. This study aims at examining areas of corruption in the health sector with specific focus on its types and nature. A sample size of 480 respondents aged 18 years and above was drawn from the eight Metropolitan Local Government Areas of Kano State, using the multistage sampling technique. The results revealed evidence of corrupt practices including those related to unnecessary-absenteeism, diversion of patients from the public health facilities to the private sector, diverting money meant for the purchase of equipment, fuel and diesel, bribery, stealing of medications, fraud, misappropriation of medications and unjustifiable reimbursement claims. In order to resolve the problem of corrupt practices in the healthcare sector, the study recommended the need for enforcement of appropriate code of ethics guiding the conduct of the health professionals, adoption of anti-corruption strategies, and strengthening the government monitoring system to check corruption in public health sector in order to ensure equitable access to healthcare services among the under-privileged people in the society.

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