Influential Factors of Network Changes: Dynamic Network Ties and Sustainable Startup Embeddedness

This research investigated influential factors on changes in networks of startups through a qualitative exploratory case study approach. Based on interviews with founders in Germany and selected stakeholders in entrepreneurial networks combined with a network mapping approach, we developed a framework of influential factors on network changes. In essence, this framework categorizes factors into sustainable resource acquisition, knowledge and skill acquisition, interpersonal factors, and interorganizational factors. Overall, our research contributes to a better understanding of factors that impact network changes by providing a construct with potential for theoretical standardization. In addition, this research offers important managerial implications

Influential factors of network changes: Dynamic network ties and sustainable startup embeddedness

This research investigated influential factors on changes in networks of startups through a qualitative exploratory case study approach. Based on interviews with founders in Germany and selected stakeholders in entrepreneurial networks combined with a network mapping approach, we developed a framework of influential factors on network changes. In essence, this framework categorizes factors into sustainable resource acquisition, knowledge and skill acquisition, interpersonal factors, and interorganizational factors. Overall, our research contributes to a better understanding of factors that impact network changes by providing a construct with potential for theoretical standardization. In addition, this research offers important managerial implications

Innovation management in crisis: patent analytics as a response to the COVID‐19 pandemic

Crises like the COVID‐19 pandemic affect firms’ innovation management and decision making. On the downside, crises lead to detriments like budget constraints, to which firms often respond by reducing their innovation activities. On the upside, crises are opportunities, where some firms exploiting changing market requirements and necessities excel. No matter in which direction, decision makers must react quickly but often rely on ad‐hoc decisions or even gut feeling when drafting their crisis response strategies. Through a series of distinct cases, we demonstrate that innovation management may fill this void through patent analytics. Drawing on biochemical expertise, we particularly describe the functions and effects of COVID‐19. To counter downside detriments, firms may circumvent budget constraints by discerning patents that can be (1) monetized, for example via sales or licensing deals, or (2) abandoned to achieve cost‐savings, allowing firms to maintain their innovation activities. To realize upside opportunities, firms and governments may use patent analytics to detect key biotechnology firms that are likely to successfully develop treatments and vaccinations against pandemics like COVID‐19. Promulgated U.S. interest in relocating foreign firms to the United States is not without technological and commercial reasoning. Herein, the insights of this study contribute to a better understanding of the use of patent information, such as smart patent indicators, harmonized patent data, novel annuity fee measures, and hand‐collected datasets of COVID‐19 and related antibodies’ patents to the management of innovation in times of crisis

Innovation Management in Crisis: Patent Analytics as a Response to the Covid-19 Pandemic

Crises like the COVID-19 pandemic affect firms’ innovation management and decision making. On the downside, crises lead to detriments like budget constraints, to which firms often respond by reducing their innovation activities. On the upside, crises are opportunities, where some firms exploiting changing market requirements and necessities excel. No matter in which direction, decision makers must react quickly but often rely on ad-hoc decisions or even gut feeling when drafting their crisis response strategies. Through a series of distinct cases, we demonstrate that innovation management may fill this void through patent analytics. Drawing on biochemical expertise, we particularly describe the functions and effects of COVID-19. To counter downside detriments, firms may circumvent budget constraints by discerning patents that can be (1) monetized, for example via sales or licensing deals, or (2) abandoned to achieve cost-savings, allowing firms to maintain their innovation activities. To realize upside opportunities, firms and governments may use patent analytics to detect key biotechnology firms that are likely to successfully develop treatments and vaccinations against pandemics like COVID-19. Promulgated U.S. interest in relocating foreign firms to the United States is not without technological and commercial reasoning. Herein, the insights of this study contribute to a better understanding of the use of patent information, such as smart patent indicators, harmonized patent data, novel annuity fee measures, and hand-collected datasets of COVID-19 and related antibodies’ patents to the management of innovation in times of crisis

Patents and Sustainable Medical Treatment in Developing Countries: Lessons from COVID-19 Vaccines

COVID-19 has had devastating effects worldwide, and vaccines have become the most efficient solution to address the current pandemic situation thus far. After COVID-19 vaccines had been developed, discussions of the various countries’ equality of access gained traction, with patents and pricing forming a significant part of this discourse. Therefore, this study investigates the impact of patents and prices on the accessibility of COVID-19 vaccines in the developing world, using semi-structured interviews with subject-matter experts in this area of focus. Our analysis of these interviews highlights the fact that patents and prices are not the major barriers to accessibility for medical treatments, both generally and specifically in terms of COVID-19; rather, these barriers relate to the lack of local production capacity, technology transfer, infrastructure, local regulations, and supply-chain competencies. These results suggest that rather than focusing on patents and prices, governments should invest more time in improving technology transfer and using compulsory licenses as a negotiation tool. Moreover, the results show that the pricing strategies applied by companies could have different impacts on access, as could accessibility programs such as COVAX

Digital Business Model, Digital Transformation, Digital Entrepreneurship: Is There A Sustainable “Digital”?

Digitalization plays a major role in contributing towards the United Nations Sustainable Development Goals. Without transformation of existing businesses, both economic and environmental challenges of the future cannot be solved sustainably. However, there is much confusion on interrelationships and terms dealing with digitization or digitalization: Digital business model, digital transformation, digital entrepreneurship. How do these terms interrelate with and to digitalization, and how do they support firms to grow sustainably? To answer this question, we identified seven core digital-related terms based on a structured literature search within the management and economics domain, namely: Digital, Business Model, Digital Business Model, Digital Technology, Digital Innovation, Digital Transformation, and Digital Entrepreneurship. Thereafter, we analyzed prior literature for deriving a common understanding and definition as a basis for interrelations within a conceptual framework. Definitions were presented in a case study setup with twelve innovation and research and development (R&D) managers from various business units of a German high-tech company. Based on these insights, we propose a conceptual framework on how Digital Readiness, Digital Technology, and Digital Business Models might sustainably relate to Innovation, moderated by a Digital Transformation Process. With this approach, we aim to equip practitioners and researchers alike in handling and addressing change through digitalization sustainably

Managing innovation performance: Results from an industry‐spanning explorative study on R&D key measures

Research on R&D performance measures applied in firms is still scarce. Based on the established “R&D laboratory as a system” thinking, systematically derive and identify R&D department level key performance measures. Through a mixed‐method approach, grounded in (1) literature and (2) text analysis, 154 R&D performance measures were developed. Amongst those, an (3) online expert survey, as well as (4) three independent focus group workshops with >40 industry experts from more than ten industries identified and validated ten key R&D performance measures. All industry experts involved are members of an innovation network, additionally accounting for innovation network effects. In contrast to earlier research, some of the measures like degree of anticipation of internal customer needs were perceived both by the survey respondents and the focus groups as key measures, indicating that behavioral measures should not be excluded per se. However, the importance of external validity of R&D performance or indicators to measure performance in relation to activities outside the R&D department were not confirmed. Hence, we partly confirm the relevance of the original “R&D Lab” measures, contributing a more granular level, thereby drawing implications for future research and practice

Patents and Sustainable Medical Treatment in Developing Countries: Lessons from COVID-19 Vaccines

COVID-19 has had devastating effects worldwide, and vaccines have become the most efficient solution to address the current pandemic situation thus far. After COVID-19 vaccines had been developed, discussions of the various countries’ equality of access gained traction, with patents and pricing forming a significant part of this discourse. Therefore, this study investigates the impact of patents and prices on the accessibility of COVID-19 vaccines in the developing world, using semi-structured interviews with subject-matter experts in this area of focus. Our analysis of these interviews highlights the fact that patents and prices are not the major barriers to accessibility for medical treatments, both generally and specifically in terms of COVID-19; rather, these barriers relate to the lack of local production capacity, technology transfer, infrastructure, local regulations, and supply-chain competencies. These results suggest that rather than focusing on patents and prices, governments should invest more time in improving technology transfer and using compulsory licenses as a negotiation tool. Moreover, the results show that the pricing strategies applied by companies could have different impacts on access, as could accessibility programs such as COVAX

Digital Entrepreneurship in Finance: Fintechs and Funding Decision Criteria

After the 2007–08 global financial crisis, research flourished on entrepreneurship through digital innovation in the financial market as well as on investors’ influence on digital technology-based entrepreneurs’ funding decisions. This study combines these two research streams to analyze the decision-making criteria for funding financial technology companies (fintechs), hybrid companies that combine digital entrepreneurship, technology, and banking. The study first uses prior literature to derive important characteristics to define fintechs and then uses 12 expert interviews to elaborate on decision-making criteria in funding. Except for smaller peculiarities, fintech funding does not appear to differ from that of other digital entrepreneurship in different markets, and—as with most digital business models—scalability was identified as a key criterion. Additionally, by serving as a major provider of money for young companies, banks have changed their role and positioning in funding new financial technology entrepreneurs. Through developments in digital technology, banks have shifted from traditional money-lending activities (i.e., debt-financing) to becoming stakeholders in fintechs and, hence, equity investors. We also describe how these formerly distinct fields have converged due to regulatory requirements, digital newcomers, and a need for constant innovation, with their future sustainable development dependent on sharing and collaboration

It wasn’t me: Entrepreneurial Failure Attribution and Learning from Failure

Can entrepreneurs learn from failure? Using frameworks from attribution theory, we draw on unique qualitative data from entrepreneurs who had experienced failure before re-engaging in entrepreneurial activities. We find that the direction of failure attribution, as either attributed to external or internal causes, affects learning from failure differently and propose that while an excessive focus on self-attribution may harm future prospects of entrepreneurial activity, over-attributing failure to external causes might possibly hinder positive returns from learning from failure. Moreover, external and internal aspects influence how entrepreneurs learn from previously failed ventures. Failure shall not be romanticised, as it entails profound consequences for attribution and its effects on learning. Implications for research on failure, learning from failure, and attribution theory, as well as implications for practice are further discussed. Propositions for future research endeavours are derived