Pontus Braunerhjelm and Maryann P. Feldman (eds)
- Published in print:
- 2006
- Published Online:
- September 2007
- ISBN:
- 9780199207183
- eISBN:
- 9780191708886
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199207183.001.0001
- Subject:
- Business and Management, Innovation
This book examines the origins and emergence of technology-based industrial clusters — regional concentrations of related firms and organizations — in order to understand the forces that promoted ...
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This book examines the origins and emergence of technology-based industrial clusters — regional concentrations of related firms and organizations — in order to understand the forces that promoted economic development. Many places attempt to emulate the world's most famous industrial cluster Silicon Valley, with its rich institutional landscape of engaged and leveraged research universities, high-flying local venture capitalists, world class supporting business and legal consultants, and rich collaborative networks. While mature clusters may look similar, what really matters is the process by which clusters come into existence. But there is little understanding of such processes, and little guidance provided on the role of policies in promoting cluster emergence. The book attempts to bridge this gap in the literature by focusing on the early origins of high-technology cluster in Europe, the United States, and China, and the ensuing policy implications. The book is organized around three main themes: Creation Myths Revisited, Considering the Development Cluster Context, and Crafting Cluster and Economic Development Policy. The empirical analyses suggest that clusters that grow rapidly as compared to the less successful ones are distinguished by vigorous entrepreneurial activity and the active building of institutions aided by the forces of agglomeration economies.Less
This book examines the origins and emergence of technology-based industrial clusters — regional concentrations of related firms and organizations — in order to understand the forces that promoted economic development. Many places attempt to emulate the world's most famous industrial cluster Silicon Valley, with its rich institutional landscape of engaged and leveraged research universities, high-flying local venture capitalists, world class supporting business and legal consultants, and rich collaborative networks. While mature clusters may look similar, what really matters is the process by which clusters come into existence. But there is little understanding of such processes, and little guidance provided on the role of policies in promoting cluster emergence. The book attempts to bridge this gap in the literature by focusing on the early origins of high-technology cluster in Europe, the United States, and China, and the ensuing policy implications. The book is organized around three main themes: Creation Myths Revisited, Considering the Development Cluster Context, and Crafting Cluster and Economic Development Policy. The empirical analyses suggest that clusters that grow rapidly as compared to the less successful ones are distinguished by vigorous entrepreneurial activity and the active building of institutions aided by the forces of agglomeration economies.
David B. Audretsch, Max C. Keilbach, and Erik E. Lehmann
- Published in print:
- 2006
- Published Online:
- January 2007
- ISBN:
- 9780195183511
- eISBN:
- 9780199783663
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195183511.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter analyzes the role that accessing external finance plays for entrepreneurial firms. It differentiates between access to bank loans and equity provided by venture capital. It is shown that ...
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This chapter analyzes the role that accessing external finance plays for entrepreneurial firms. It differentiates between access to bank loans and equity provided by venture capital. It is shown that equity finance and bank finance are substitutes for knowledge-based entrepreneurial firms. The likelihood of an entrepreneurial firm being financed by venture capital is positively related to the degree of human capital incorporated in the board of management. Similarly, entrepreneurial firms in high-technology and science-based industries are more likely to be financed by venture capital.Less
This chapter analyzes the role that accessing external finance plays for entrepreneurial firms. It differentiates between access to bank loans and equity provided by venture capital. It is shown that equity finance and bank finance are substitutes for knowledge-based entrepreneurial firms. The likelihood of an entrepreneurial firm being financed by venture capital is positively related to the degree of human capital incorporated in the board of management. Similarly, entrepreneurial firms in high-technology and science-based industries are more likely to be financed by venture capital.
Richard Coopey
- Published in print:
- 2004
- Published Online:
- September 2007
- ISBN:
- 9780199241057
- eISBN:
- 9780191714290
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199241057.003.0006
- Subject:
- Business and Management, Information Technology
This chapter explores the decline of the IT sectors in Britain and France, showing how the foundations and structure of the industry there experienced long-term inertia and contained fault-lines ...
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This chapter explores the decline of the IT sectors in Britain and France, showing how the foundations and structure of the industry there experienced long-term inertia and contained fault-lines within it, but was also subject to short-term strategic mistakes which hastened its eventual relative demise. It is shown that the computer industry, certainly in its formative phase, was internally connected to the government — both in Britain and France. The chapter focuses on development in the 1960s when a sense of crisis pervaded both countries, and the fate of both economies was deemed to hinge on their ability to maintain or regain a position of global competitiveness in high-technology industry. The IT sector was singled out as the primary focus of this process.Less
This chapter explores the decline of the IT sectors in Britain and France, showing how the foundations and structure of the industry there experienced long-term inertia and contained fault-lines within it, but was also subject to short-term strategic mistakes which hastened its eventual relative demise. It is shown that the computer industry, certainly in its formative phase, was internally connected to the government — both in Britain and France. The chapter focuses on development in the 1960s when a sense of crisis pervaded both countries, and the fate of both economies was deemed to hinge on their ability to maintain or regain a position of global competitiveness in high-technology industry. The IT sector was singled out as the primary focus of this process.
Richard Coopey and Peter Lyth (eds)
- Published in print:
- 2009
- Published Online:
- September 2009
- ISBN:
- 9780199226009
- eISBN:
- 9780191710315
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199226009.001.0001
- Subject:
- Business and Management, Business History
This book brings together chapters from the leading historians of British business. The contributors were asked to consider the renaissance in the British economy during the closing decades of the ...
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This book brings together chapters from the leading historians of British business. The contributors were asked to consider the renaissance in the British economy during the closing decades of the 20th century. In doing so they were also asked to reconsider the debates and assertions relating to relative economic decline in Britain since the end of the 19th century. Chapters range across the economy, from banking, retail, high technology and staple industries, transport, to sports and leisure industries. In addition, key themes such as foreign investment, government policy, managerial characteristics, marketing, business, ethics, and so on have their own chapters. What emerges is a picture of complexity and reappraisal bringing into question the accuracy or applicability of much of the writing and axioms surrounding British business in the 20th century. Both the nature of economic recovery, the depth and periodization of relative decline clearly do not stand up to scrutiny. If nothing else the book disposes with the notion that a simple re-injection of market forces ideology in the 1980s changed and modernised the British economy. The book has identified both a need for a broad reappraisal to take into account the complexity underlying ideas of renaissance in the late 20th century, in addition to a need to reject unicausal explanations for the fate and possibilities of the British economy in the 21st century.Less
This book brings together chapters from the leading historians of British business. The contributors were asked to consider the renaissance in the British economy during the closing decades of the 20th century. In doing so they were also asked to reconsider the debates and assertions relating to relative economic decline in Britain since the end of the 19th century. Chapters range across the economy, from banking, retail, high technology and staple industries, transport, to sports and leisure industries. In addition, key themes such as foreign investment, government policy, managerial characteristics, marketing, business, ethics, and so on have their own chapters. What emerges is a picture of complexity and reappraisal bringing into question the accuracy or applicability of much of the writing and axioms surrounding British business in the 20th century. Both the nature of economic recovery, the depth and periodization of relative decline clearly do not stand up to scrutiny. If nothing else the book disposes with the notion that a simple re-injection of market forces ideology in the 1980s changed and modernised the British economy. The book has identified both a need for a broad reappraisal to take into account the complexity underlying ideas of renaissance in the late 20th century, in addition to a need to reject unicausal explanations for the fate and possibilities of the British economy in the 21st century.
David B. Audretsch
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780195183504
- eISBN:
- 9780199783885
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195183504.003.0007
- Subject:
- Economics and Finance, Development, Growth, and Environmental
By penetrating the knowledge filter and trying out ideas that might otherwise never have made it through, entrepreneurship serves as the missing link to innovation and ultimately economic growth and ...
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By penetrating the knowledge filter and trying out ideas that might otherwise never have made it through, entrepreneurship serves as the missing link to innovation and ultimately economic growth and job creation. Entrepreneurship is an important mechanism permeating the knowledge filter to facilitate the spillover of knowledge and ultimately generate economic growth. Entrepreneurship provides the missing link to innovation and growth in virtually every context where people have ideas and starting a new firm is not blocked or impeded. For example, universities can be interpreted as being hotbeads for generating new knowledge and ideas. Entrepreneurship provides the vision to use this knowledge. If there is no vision there is no entrepreneurship. If there is a vision, but no action or activity, there is also no entrepreneurship.Less
By penetrating the knowledge filter and trying out ideas that might otherwise never have made it through, entrepreneurship serves as the missing link to innovation and ultimately economic growth and job creation. Entrepreneurship is an important mechanism permeating the knowledge filter to facilitate the spillover of knowledge and ultimately generate economic growth. Entrepreneurship provides the missing link to innovation and growth in virtually every context where people have ideas and starting a new firm is not blocked or impeded. For example, universities can be interpreted as being hotbeads for generating new knowledge and ideas. Entrepreneurship provides the vision to use this knowledge. If there is no vision there is no entrepreneurship. If there is a vision, but no action or activity, there is also no entrepreneurship.
Sam Ock Park
- Published in print:
- 2002
- Published Online:
- November 2003
- ISBN:
- 9780199250011
- eISBN:
- 9780191596216
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199250014.003.0013
- Subject:
- Economics and Finance, International
Innovation systems and local global networks of high‐technology industry in Korea are examined with regard to the evolution of the knowledge‐based economy. Major data for the study are derived from a ...
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Innovation systems and local global networks of high‐technology industry in Korea are examined with regard to the evolution of the knowledge‐based economy. Major data for the study are derived from a recent questionnaire survey of SMEs (small‐ and medium‐sized enterprises) conducted for the IMF in 1997, and from an interview survey conducted in 1995 for the high‐technology industries in Korea. Changes are outlined in Korean industry since the rapid industrialization period of the 1970s, when chaebols (conglomerate business groups) rather than SMEs emerged as the leading actors in industrial development; the chaebol system was broken up following the foreign exchange crisis of November 1997. The main sections of the chapter cover regional variation of innovation performance, local innovation networks of SMEs, and local and global networks of high‐technology clusters in Kyonggi and Kumi.Less
Innovation systems and local global networks of high‐technology industry in Korea are examined with regard to the evolution of the knowledge‐based economy. Major data for the study are derived from a recent questionnaire survey of SMEs (small‐ and medium‐sized enterprises) conducted for the IMF in 1997, and from an interview survey conducted in 1995 for the high‐technology industries in Korea. Changes are outlined in Korean industry since the rapid industrialization period of the 1970s, when chaebols (conglomerate business groups) rather than SMEs emerged as the leading actors in industrial development; the chaebol system was broken up following the foreign exchange crisis of November 1997. The main sections of the chapter cover regional variation of innovation performance, local innovation networks of SMEs, and local and global networks of high‐technology clusters in Kyonggi and Kumi.
David J. Teece
- Published in print:
- 2002
- Published Online:
- November 2003
- ISBN:
- 9780198295426
- eISBN:
- 9780191596964
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198295421.003.0009
- Subject:
- Economics and Finance, Microeconomics
Anti‐trust economics has not sufficiently recognized the nature of competition and innovation in high‐technology industries, the evolution of those industries and the implications for public policy. ...
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Anti‐trust economics has not sufficiently recognized the nature of competition and innovation in high‐technology industries, the evolution of those industries and the implications for public policy. This chapter presents some conceptual frameworks and methods for understanding, in particular, issues of monopoly and monopolization. Understanding issues such as the nature of technological change, competition, barriers to entry, and market power are important for anti‐trust policy. Without understanding the limitations of the existing analytical tools for analysing the economics of innovation, antitrust agencies may harm competition in high‐tech industries.Less
Anti‐trust economics has not sufficiently recognized the nature of competition and innovation in high‐technology industries, the evolution of those industries and the implications for public policy. This chapter presents some conceptual frameworks and methods for understanding, in particular, issues of monopoly and monopolization. Understanding issues such as the nature of technological change, competition, barriers to entry, and market power are important for anti‐trust policy. Without understanding the limitations of the existing analytical tools for analysing the economics of innovation, antitrust agencies may harm competition in high‐tech industries.
Mary O'Sullivan
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199244867
- eISBN:
- 9780191596735
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199244863.003.0005
- Subject:
- Economics and Finance, Microeconomics
This chapter has two main sections, which contrast the post‐war development of managerial control in the USA in the mass production industries, and the high‐technology industries––as exemplified by ...
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This chapter has two main sections, which contrast the post‐war development of managerial control in the USA in the mass production industries, and the high‐technology industries––as exemplified by the electronics industry. The first, Sect. 4.2, The post‐war governance of mass‐production enterprises, discusses the trend towards strategic segmentation––the emergence of conglomerations and resulting impact on performance, and the emergence of core corporate enterprises. The second, Sect. 4.3, The electronics complex and the governance of innovation, discusses the roles of the federal government and of venture capital, and the abiding importance of the innovative corporation.Less
This chapter has two main sections, which contrast the post‐war development of managerial control in the USA in the mass production industries, and the high‐technology industries––as exemplified by the electronics industry. The first, Sect. 4.2, The post‐war governance of mass‐production enterprises, discusses the trend towards strategic segmentation––the emergence of conglomerations and resulting impact on performance, and the emergence of core corporate enterprises. The second, Sect. 4.3, The electronics complex and the governance of innovation, discusses the roles of the federal government and of venture capital, and the abiding importance of the innovative corporation.
Mary O'Sullivan
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199244867
- eISBN:
- 9780191596735
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199244863.003.0006
- Subject:
- Economics and Finance, Microeconomics
Beginning in the 1970s, the previously dominant US corporate enterprises faced an intensification of competition in both the mass‐production and high‐technology industries. The nature and gravity of ...
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Beginning in the 1970s, the previously dominant US corporate enterprises faced an intensification of competition in both the mass‐production and high‐technology industries. The nature and gravity of the competitive threat varied, partly because of differences in resource allocation governance, yet in both types of industry, fundamental challenges to the technological and economic supremacy of the USA were posed by enterprises in different social environments that developed and utilized broader and deeper skill bases to generate higher‐quality, lower‐cost products. In the case of the Japanese especially, the challenges came from enterprises that integrated into processes of organizational learning not only managerial employees (as the Americans had done), but also shop‐floor employees and employees of subsidiary enterprises that functioned as suppliers and distributors. These competitive challenges demanded a response from US corporate enterprises, but as they struggled with what was going on in the productive sphere, the ground had also shifted in the financial sphere: in particular, with the rise of institutional investors, and the increasing pressures that they placed on corporate enterprises to deliver higher returns on their corporate stocks, the commitment of financial resources to corporate strategies came under considerable pressure. The two main sections of this chapter address these issues: Sect. 5.2 discusses the productive challenges and the rise of the new competition, and Sect. 5.3 discusses the growing pressures for financial liquidity, which manifested themselves in a particularly aggressive form in the 1980s with the rise of a market for corporate control, and when that market collapsed in the late 1980s, in leading institutional investors seeking other levers for influencing corporate resource allocation in a movement that has been characterized as the rise of institutional investor activism.Less
Beginning in the 1970s, the previously dominant US corporate enterprises faced an intensification of competition in both the mass‐production and high‐technology industries. The nature and gravity of the competitive threat varied, partly because of differences in resource allocation governance, yet in both types of industry, fundamental challenges to the technological and economic supremacy of the USA were posed by enterprises in different social environments that developed and utilized broader and deeper skill bases to generate higher‐quality, lower‐cost products. In the case of the Japanese especially, the challenges came from enterprises that integrated into processes of organizational learning not only managerial employees (as the Americans had done), but also shop‐floor employees and employees of subsidiary enterprises that functioned as suppliers and distributors. These competitive challenges demanded a response from US corporate enterprises, but as they struggled with what was going on in the productive sphere, the ground had also shifted in the financial sphere: in particular, with the rise of institutional investors, and the increasing pressures that they placed on corporate enterprises to deliver higher returns on their corporate stocks, the commitment of financial resources to corporate strategies came under considerable pressure. The two main sections of this chapter address these issues: Sect. 5.2 discusses the productive challenges and the rise of the new competition, and Sect. 5.3 discusses the growing pressures for financial liquidity, which manifested themselves in a particularly aggressive form in the 1980s with the rise of a market for corporate control, and when that market collapsed in the late 1980s, in leading institutional investors seeking other levers for influencing corporate resource allocation in a movement that has been characterized as the rise of institutional investor activism.
Ashraf H. A. Rushdy
- Published in print:
- 2012
- Published Online:
- October 2013
- ISBN:
- 9780300181388
- eISBN:
- 9780300184747
- Item type:
- book
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300181388.001.0001
- Subject:
- History, African-American History
This book explains how lynching arose precisely out of an ideology of the sense of the rights accrued to someone possessing democratic freedom, and the sense that those rights were directly and ...
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This book explains how lynching arose precisely out of an ideology of the sense of the rights accrued to someone possessing democratic freedom, and the sense that those rights were directly and formally a product of the earliest and most essential mandates of a slave society. Lynching can be broadly defined as the extralegal pursuit of vengeance against an offender of communal moral standards. The rationales and justifications that lynchers and their apologists produced to tease out the defenses of lynching reveal about American political discourse of all kinds are examined in this book. The most recent manifestations of the American political discourse has been African American public figures who have described their political ordeals as a high-technology lynching, and media coverage of a legal indictment for perjury as exhibiting an unethical, illegal lynch mob mentality. In more regular ways, frequent metaphorical employments of lynching are used as a way of terrorizing black Americans. The book demonstrates that the practice of lynching in American history is not only shameful but also central, and recognizes the ways in which lynching is both a metaphor and literal continues to haunt the republic.Less
This book explains how lynching arose precisely out of an ideology of the sense of the rights accrued to someone possessing democratic freedom, and the sense that those rights were directly and formally a product of the earliest and most essential mandates of a slave society. Lynching can be broadly defined as the extralegal pursuit of vengeance against an offender of communal moral standards. The rationales and justifications that lynchers and their apologists produced to tease out the defenses of lynching reveal about American political discourse of all kinds are examined in this book. The most recent manifestations of the American political discourse has been African American public figures who have described their political ordeals as a high-technology lynching, and media coverage of a legal indictment for perjury as exhibiting an unethical, illegal lynch mob mentality. In more regular ways, frequent metaphorical employments of lynching are used as a way of terrorizing black Americans. The book demonstrates that the practice of lynching in American history is not only shameful but also central, and recognizes the ways in which lynching is both a metaphor and literal continues to haunt the republic.
Robert Kneller
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780199268801
- eISBN:
- 9780191699283
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199268801.001.0001
- Subject:
- Business and Management, International Business, Innovation
The innovative strength of the world's two largest economies, the United States and Japan, are based on two different forms of industrial and social organization. For the United States, venture ...
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The innovative strength of the world's two largest economies, the United States and Japan, are based on two different forms of industrial and social organization. For the United States, venture companies play a key role in technical and economic progress, while in Japan they have only a minor role. This book argues that without vibrant new high technology companies, Japanese industry will decline inexorably. At the same time, if the favourable yet delicate environment in America is undermined, America will face collapse of its innovative and economic strength. Japan has done much to improve its environment for high technology ventures. It has some promising new high technology companies and gradually increasing numbers of entrepreneurial scientists and managers. But they continue to swim against the current. One reason is that large, established companies dominate high technology fields and pursue an autarkic innovation strategy-relying on research in-house or in affiliated companies. Another reason is that these same large companies still have preferential access to university discoveries, largely because of government policies. Thus, high technology ventures are deprived of niches in which to grow, skilled personnel, and their natural customer base. In the field of university-industry relations, steps can still be taken to improve the environment for high technology ventures-steps that would also increase the quality of university science. The American–Japanese innovation dichotomy represents a broader dichotomy between so-called liberal and coordinated market economies. The lessons from these two countries' experiences are applicable to many industrialized countries, and to developing countries shaping their innovation systems.Less
The innovative strength of the world's two largest economies, the United States and Japan, are based on two different forms of industrial and social organization. For the United States, venture companies play a key role in technical and economic progress, while in Japan they have only a minor role. This book argues that without vibrant new high technology companies, Japanese industry will decline inexorably. At the same time, if the favourable yet delicate environment in America is undermined, America will face collapse of its innovative and economic strength. Japan has done much to improve its environment for high technology ventures. It has some promising new high technology companies and gradually increasing numbers of entrepreneurial scientists and managers. But they continue to swim against the current. One reason is that large, established companies dominate high technology fields and pursue an autarkic innovation strategy-relying on research in-house or in affiliated companies. Another reason is that these same large companies still have preferential access to university discoveries, largely because of government policies. Thus, high technology ventures are deprived of niches in which to grow, skilled personnel, and their natural customer base. In the field of university-industry relations, steps can still be taken to improve the environment for high technology ventures-steps that would also increase the quality of university science. The American–Japanese innovation dichotomy represents a broader dichotomy between so-called liberal and coordinated market economies. The lessons from these two countries' experiences are applicable to many industrialized countries, and to developing countries shaping their innovation systems.
Edward B. Roberts
- Published in print:
- 1991
- Published Online:
- October 2011
- ISBN:
- 9780195067040
- eISBN:
- 9780199854837
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195067040.001.0001
- Subject:
- Business and Management, Innovation
This is a book about the formation, development, and success or failure of new high technology companies, focusing on those that grew under the auspices of entrepreneurs from Massachusetts Institute ...
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This is a book about the formation, development, and success or failure of new high technology companies, focusing on those that grew under the auspices of entrepreneurs from Massachusetts Institute of Technology (MIT) in Boston at the end of World War Two. Trained in high-technology in MIT's labs and academic departments or in the local industrial marvel that became known as the “Route 128 phenomenon”, these entrepreneurs took their technical and innate skills with them to found their own new companies. The book is based on extensive empirical research on these firms conducted over a period of twenty-five years and much previously written work on the subject, and is the culmination of such earlier work and synthesized findings. It centers on people, technology, money, and markets, and its main goal is to provide insights that may eventually contribute to fulfilling other entrepreneurs' dreams and other communities' hopes. The book chapters comprise three connected sections — treating birth, transition and growth, and success or failure.Less
This is a book about the formation, development, and success or failure of new high technology companies, focusing on those that grew under the auspices of entrepreneurs from Massachusetts Institute of Technology (MIT) in Boston at the end of World War Two. Trained in high-technology in MIT's labs and academic departments or in the local industrial marvel that became known as the “Route 128 phenomenon”, these entrepreneurs took their technical and innate skills with them to found their own new companies. The book is based on extensive empirical research on these firms conducted over a period of twenty-five years and much previously written work on the subject, and is the culmination of such earlier work and synthesized findings. It centers on people, technology, money, and markets, and its main goal is to provide insights that may eventually contribute to fulfilling other entrepreneurs' dreams and other communities' hopes. The book chapters comprise three connected sections — treating birth, transition and growth, and success or failure.
Robert Kneller
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780199268801
- eISBN:
- 9780191699283
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199268801.003.0001
- Subject:
- Business and Management, International Business, Innovation
This chapter compares types of organizations obtaining patents in the US and Japan. The principal difference between US and Japanese applicants is that universities and new companies account for ...
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This chapter compares types of organizations obtaining patents in the US and Japan. The principal difference between US and Japanese applicants is that universities and new companies account for significant proportions of domestically originating patents in the US, but much smaller proportions of domestically originating patents in Japan. The relative contribution to innovation of US small or new companies is not diminishing. In Japan, there is no indication that this proportion is increasing. Compared to Americans, Japanese inventors rarely apply for patents on their own. Affiliation with a large company seems to be necessary for inventive Japanese to realize the patenting and commercialization of their discoveries in many fields of technology. Japanese universities and government research institutes (GRIs) do play an important and increasing role in innovation, although probably not as great as their US counterparts. An overview of the subsequent chapters is also presented.Less
This chapter compares types of organizations obtaining patents in the US and Japan. The principal difference between US and Japanese applicants is that universities and new companies account for significant proportions of domestically originating patents in the US, but much smaller proportions of domestically originating patents in Japan. The relative contribution to innovation of US small or new companies is not diminishing. In Japan, there is no indication that this proportion is increasing. Compared to Americans, Japanese inventors rarely apply for patents on their own. Affiliation with a large company seems to be necessary for inventive Japanese to realize the patenting and commercialization of their discoveries in many fields of technology. Japanese universities and government research institutes (GRIs) do play an important and increasing role in innovation, although probably not as great as their US counterparts. An overview of the subsequent chapters is also presented.
Robert Kneller
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780199268801
- eISBN:
- 9780191699283
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199268801.003.0004
- Subject:
- Business and Management, International Business, Innovation
This chapter looks directly at Japanese high technology ventures and describes their present situation and future prospects. It presents twenty case studies of ventures in biomedical and ...
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This chapter looks directly at Japanese high technology ventures and describes their present situation and future prospects. It presents twenty case studies of ventures in biomedical and nonbiomedical fields. Several conclusions are drawn based on these case studies. Among them is that (i) the unwillingness of pharmaceutical companies to engage bioventures is hurting them; (ii) most bioventures arise from universities and many of these continue to depend on them for key discoveries; (iii) government support is pervasive; (iv) venture capital is vital for the growth of bioventures; and (v) patents are important.Less
This chapter looks directly at Japanese high technology ventures and describes their present situation and future prospects. It presents twenty case studies of ventures in biomedical and nonbiomedical fields. Several conclusions are drawn based on these case studies. Among them is that (i) the unwillingness of pharmaceutical companies to engage bioventures is hurting them; (ii) most bioventures arise from universities and many of these continue to depend on them for key discoveries; (iii) government support is pervasive; (iv) venture capital is vital for the growth of bioventures; and (v) patents are important.
Robert Kneller
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780199268801
- eISBN:
- 9780191699283
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199268801.003.0005
- Subject:
- Business and Management, International Business, Innovation
Low levels of angel financing and the unwillingness of large companies to engage ventures have compelled greater reliance on venture capital (VC) and public equity markets to finance the growth of ...
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Low levels of angel financing and the unwillingness of large companies to engage ventures have compelled greater reliance on venture capital (VC) and public equity markets to finance the growth of high technology ventures in Japan. This is especially true in the case of bioventures. As for nonbiomedical ventures, the successful ones have managed to obtain substantial revenue through sales. Yet even these usually depended to some degree on VC financing in their early years. Thus, the small number of nonbiomedical ventures, particularly startups, may be in part the result of the inadequacy of VC financing to support promising new companies. The system of VC financing has matured greatly since the mid-1990s, although problems remain. This chapter argues that even if all problems were to be solved, VC financing probably cannot substitute for the lack of financing from sales, angels, and investment and joint research by larger companies.Less
Low levels of angel financing and the unwillingness of large companies to engage ventures have compelled greater reliance on venture capital (VC) and public equity markets to finance the growth of high technology ventures in Japan. This is especially true in the case of bioventures. As for nonbiomedical ventures, the successful ones have managed to obtain substantial revenue through sales. Yet even these usually depended to some degree on VC financing in their early years. Thus, the small number of nonbiomedical ventures, particularly startups, may be in part the result of the inadequacy of VC financing to support promising new companies. The system of VC financing has matured greatly since the mid-1990s, although problems remain. This chapter argues that even if all problems were to be solved, VC financing probably cannot substitute for the lack of financing from sales, angels, and investment and joint research by larger companies.
Robert Kneller
- Published in print:
- 2007
- Published Online:
- October 2011
- ISBN:
- 9780199268801
- eISBN:
- 9780191699283
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199268801.003.0007
- Subject:
- Business and Management, International Business, Innovation
This chapter considers the evidence (and also the circumstances) under which independent ventures can, in many industries, be superior innovators in new fields of technology. The chapter is organized ...
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This chapter considers the evidence (and also the circumstances) under which independent ventures can, in many industries, be superior innovators in new fields of technology. The chapter is organized as follows. Part I compares the innovative capabilities of ventures and established companies. Part II discusses whether these findings are likely to be applicable to other industries. Part III explores whether venture companies undercut the innovation capabilities of large companies, particularly by poaching employees. Part IV discusses whether ventures are capable of sustained innovation even though many companies are narrowly focused and lack broad integrated learning and organizational capabilities. Part V suggests that Japan's dearth of venture companies probably is hurting its innovation capabilities in a number of fields. Part VI analyzes some of strengths of Japan's manufacturing industry: the behind-the-scenes role of small companies and personal management policies based on a system of lifetime employment, as well as the purported benefits of government-organized R&D consortia. Part VII examines whether the system of lifetime employment, autarkic innovation in large companies, and preemption of university research is likely to change in the near future, and concludes that the likelihood is low.Less
This chapter considers the evidence (and also the circumstances) under which independent ventures can, in many industries, be superior innovators in new fields of technology. The chapter is organized as follows. Part I compares the innovative capabilities of ventures and established companies. Part II discusses whether these findings are likely to be applicable to other industries. Part III explores whether venture companies undercut the innovation capabilities of large companies, particularly by poaching employees. Part IV discusses whether ventures are capable of sustained innovation even though many companies are narrowly focused and lack broad integrated learning and organizational capabilities. Part V suggests that Japan's dearth of venture companies probably is hurting its innovation capabilities in a number of fields. Part VI analyzes some of strengths of Japan's manufacturing industry: the behind-the-scenes role of small companies and personal management policies based on a system of lifetime employment, as well as the purported benefits of government-organized R&D consortia. Part VII examines whether the system of lifetime employment, autarkic innovation in large companies, and preemption of university research is likely to change in the near future, and concludes that the likelihood is low.
Stuart Macdonald
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780199241477
- eISBN:
- 9780191696947
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199241477.003.0009
- Subject:
- Business and Management, Innovation, Organization Studies
This chapter defines and explores high technology and how it changed the world. High technology is considered ‘high’ not because it is nearer to God than ordinary technology, but because it involves ...
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This chapter defines and explores high technology and how it changed the world. High technology is considered ‘high’ not because it is nearer to God than ordinary technology, but because it involves high risk and possibly high return, a high rate of change, and especially, high information intensity. There is no agreed definition of high technology, nor is there a definitive understanding of what a technology park may be. However, technology parks are used synonymously with science park, research park, science centre, and combinations of these.Less
This chapter defines and explores high technology and how it changed the world. High technology is considered ‘high’ not because it is nearer to God than ordinary technology, but because it involves high risk and possibly high return, a high rate of change, and especially, high information intensity. There is no agreed definition of high technology, nor is there a definitive understanding of what a technology park may be. However, technology parks are used synonymously with science park, research park, science centre, and combinations of these.
Edward B. Roberts
- Published in print:
- 1991
- Published Online:
- October 2011
- ISBN:
- 9780195067040
- eISBN:
- 9780199854837
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195067040.003.0002
- Subject:
- Business and Management, Innovation
To determine what encourages young local scientists and engineers to follow entrepreneurial paths in the Greater Boston area, this chapter provides a broad discussion of the influences of the Greater ...
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To determine what encourages young local scientists and engineers to follow entrepreneurial paths in the Greater Boston area, this chapter provides a broad discussion of the influences of the Greater Boston environment, and especially the Massachusetts Institute of Technology (MIT) environment, on the formation of new companies. It traces the evolution of Boston's high technology community. The author cites in this chapter Cooper's argument for six different potential environmental influences and provides support for all of Cooper's variables in his discussion. Further, this chapter identifies several more critical aspects of culture and attitude that have built a local environment that fosters entrepreneurship. Some environmental forces that “push” young local scientists and engineers away from entrepreneurship are also demonstrated in this chapter.Less
To determine what encourages young local scientists and engineers to follow entrepreneurial paths in the Greater Boston area, this chapter provides a broad discussion of the influences of the Greater Boston environment, and especially the Massachusetts Institute of Technology (MIT) environment, on the formation of new companies. It traces the evolution of Boston's high technology community. The author cites in this chapter Cooper's argument for six different potential environmental influences and provides support for all of Cooper's variables in his discussion. Further, this chapter identifies several more critical aspects of culture and attitude that have built a local environment that fosters entrepreneurship. Some environmental forces that “push” young local scientists and engineers away from entrepreneurship are also demonstrated in this chapter.
Edward B. Roberts
- Published in print:
- 1991
- Published Online:
- October 2011
- ISBN:
- 9780195067040
- eISBN:
- 9780199854837
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195067040.003.0007
- Subject:
- Business and Management, Innovation
Once up and operating, most of the technology-based companies develop, discover and admit to a larger and growing need for funds beyond their initial financing. This chapter investigates the need for ...
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Once up and operating, most of the technology-based companies develop, discover and admit to a larger and growing need for funds beyond their initial financing. This chapter investigates the need for additional financing of high-technology firms, and the time-consuming efforts by their entrepreneurs to raise the funds. It examines the subsequent capital acquisitions by the technical enterprise, including the search processes employed by the entrepreneurs in seeking venture capital, the role of business plans, and the nature of venture capitalist decisions of venture capital organizations.Less
Once up and operating, most of the technology-based companies develop, discover and admit to a larger and growing need for funds beyond their initial financing. This chapter investigates the need for additional financing of high-technology firms, and the time-consuming efforts by their entrepreneurs to raise the funds. It examines the subsequent capital acquisitions by the technical enterprise, including the search processes employed by the entrepreneurs in seeking venture capital, the role of business plans, and the nature of venture capitalist decisions of venture capital organizations.
Edward B. Roberts
- Published in print:
- 1991
- Published Online:
- October 2011
- ISBN:
- 9780195067040
- eISBN:
- 9780199854837
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195067040.003.0010
- Subject:
- Business and Management, Innovation
Companies that historically show product strategic focus perform considerably better over extended periods than those that implement multiple technologies and/or seek market diversity. This chapter ...
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Companies that historically show product strategic focus perform considerably better over extended periods than those that implement multiple technologies and/or seek market diversity. This chapter closely examines the product strategy of high-technology companies and its connection to success using a separate group of studies to trace the full multiproduct sequences developed and marketed by a number or computer-related companies. It is divided into three sections. The first displays some of the author's own perspectives and convictions on the related field research studies. Next, the author describes a framework that evolved during the research for envisioning a company's product history in a manner that may reveal its de facto product strategy. The last section illustrates several of the statistical results from the field studies which support the importance of “strategic focus” in new product development to achieving success in the technological firm.Less
Companies that historically show product strategic focus perform considerably better over extended periods than those that implement multiple technologies and/or seek market diversity. This chapter closely examines the product strategy of high-technology companies and its connection to success using a separate group of studies to trace the full multiproduct sequences developed and marketed by a number or computer-related companies. It is divided into three sections. The first displays some of the author's own perspectives and convictions on the related field research studies. Next, the author describes a framework that evolved during the research for envisioning a company's product history in a manner that may reveal its de facto product strategy. The last section illustrates several of the statistical results from the field studies which support the importance of “strategic focus” in new product development to achieving success in the technological firm.
