Do intangible assets and pre-founding R&D efforts matter for innovation speed in start-ups?

The launch of the first product is an important event for start-ups, because it takes the new venture closer to growth, profitability and financial independence. However, entrepreneurship literature lacks theory and data on new product development and innovation speed. Integrating insights form new product development literature with resource-based theory, we construct a conceptual framework concerning the antecedents of innovation speed in start-ups. In particular, we argue that pre-founding R&D efforts and intangible assets such as team tenure, experience of founders, and collaborations with third parties are important for innovation speed. We collected a unique dataset on 99 research-based start-ups (RBSUs) and use an event-history approach to test our model. We find that RBSUs differ significantly in their starting conditions and that these differences have a significant effect on the time it takes to launch the first product. The impact of starting conditions on innovation speed differs however between software, medical-related, telecom and other technologies. Although intuition suggests that start-ups that are further in the product development cycle at founding launch their first product faster, we find that software firms starting with a beta-version experience slower product launch. Next, it is shown that team tenure and experience of founders leads to faster product launch. Contrary to expectations, alliances with other firms do not significantly affect innovation speed and collaborations with universities lead to longer development times. The insights of this study enhance our understanding of product development processes in start-ups and the differences between slow growers and fast growers. Keywords: Intangible assets, New Product Development and Start-Up

PRODUKTIVITAS TOWER CRANE PADA PROYEK PEMBANGUNAN MASJID RAYA BAITURRAHMAN DI KOTA BANDA ACEH

Peralatan merupakan salah satu sumber daya utama dalam proyek. Persoalan yang sering dihadapi oleh pelaksana ketika hendak membangun suatu proyek adalah perencanaan dan penggunaan alat-alat berat yang tepat dan sesuai kebutuhan. Untuk itu dibutuhkan analisa produktivitas peralatan khususnya tower crane yang akan membantu dalam menentukan waktu pelaksanaan, sehingga pemakaian sumber daya menjadi efektif dan efisien. Tujuan penelitian ini adalah untuk mendapatkan nilai produktivitas alat berat aktual dalam pekerjaan pembangunan Masjid Raya Baiturrahman di Kota Banda Aceh yang dalam hal ini berupa tower crane. Pengamatan ini dilakukan terhadap tower crane yang ada pada pembangunan Masjid Raya Baiturrahman di Kota Banda Aceh. Pengambilan data dilakukan dengan dua cara, yaitu data primer yang didapat dari pengamatan langsung dilapangan dan data sekunder yang didapat dari pihak pelaksana atau instansi terkait. Data primer yang diperoleh pada penelitian ini berupa waktu siklus rata-rata tower crane. Jumlah data yang didapatkan adalah selama 7 hari melakukan penelitian. Metode yang digunakan pada penelitian ini adalah metode analisis deskriptif. Hasil penelitian ini dibedakan berdasarkan jenis material yang diangkat yaitu besi dan bekisting pada pekerjaan pelat lantai. Hasil dari penelitian ini didapatkan waktu siklus rata-rata tower crane pada pengangkatan besi adalah 87,48 detik yang terdiri dari waktu angkat barang rata-rata adalah 14,17 detik, waktu swing 34,10 detik, waktu turunkan barang 11,89 detik dan waktu kembali 27,31 detik. Sedangkan pada pengangkatan bekisting didapatkan waktu siklus rata-rata adalah 76,48 detik yang terdiri dari waktu angkat 12,58 detik, waktu swing 30,57 detik, waktu turun 10,13 detik dan waktu kembali adalah 23,20 detik. Hasil produktivitas aktual rata-rata pada pengangkatan besi adalah 54,24 ton/jam, sedangkan nilai produktivitas aktual rata-rata pada pengangkatan bekisting adalah 46,92 ton/jam. Perbedaan antara nilai produktivitas aktual rata-rata tower crane pada saat pengangkatan besi dan bekistig disebabkan oleh volume material yang diangkut, dimana volume material bekisting lebih rendah dibandingkan volume pada saat pengangkatan besi.Kata Kunci : Produktivitas, Alat Berat, Pembangunan Masjid Raya Baiturrahma

Starting resource configurations of research-based start-ups and the interaction with technology, institutional background, and industrial dynamics

We study the starting resources of start-ups, which develop and market new products or services based upon a proprietary technology or skill. We define these companies as researchbased start-ups (RBSUs). We look at how technological, financial and human resources at founding cluster together to form different starting resource configurations. Using a unique hand-collected dataset of RBSUs in Belgium, we find four different types of starting configurations: “Venture Capital-backed start-ups,” “Prospectors,” “Product start-ups” and “Transitional start-ups”. This study shows that these different types of starting resource configurations are not only empirically distinct but can also be conceptually explained by internal factors such as the entrepreneurial orientation at start-up and external factors such as the origin of the firm and the characteristics of the industry in which the firm competes

HOW AND WHY DO RESEARCH-BASED START-UPS DIFFER AT FOUNDING? A RESOURCE-BASED CONFIGURATIONAL PERSPECTIVE

This paper studies the initial resources on which new organizations are based and how these resources interact with the institutional origin and market characteristics. Using a unique hand-collected dataset of research-based start-ups, we empirically test how technological, financial and human resources relate to each other to form distinct starting resource configurations. We find four different starting configurations: “Venture Capital-backed startups,” “Prospectors, ” “Product start-ups ” and “Transitional start-ups”. The results show that VC-backed start-ups are a minority while half of the firms start as prospectors. Market complexity and growth prospects influence the probability of starting with venture capital. The unclearness of the product market at founding characterizes prospectors, while product start-ups mostly have an almost market-ready product targeted at an international niche market. Transitional starters initially commercialize technical know-how through consulting and become product oriented later on. This discussion contributes to the debate concerning the interplay of environment and firm resources. Key words: entrepreneurship; configuration; resource-based view; start-ups 2 Working Paper Steunpunt OOI: June 200