Commercialization strategies of technology: lessons from Silicon Valley

Venture capital, Entrepreneurial financing, Industrial clusters, National system of innovation, Technology commercialization, O32,

Making e-Government Work: Learning from the Netherlands and Estonia

Countries are struggling to develop data exchange infrastructures needed to reap the benefits of e-government. Understanding the development of infrastructures can only be achieved by combining insights from institutional, technical and process perspectives. This paper contributes by analysing data exchange infrastructures in the Netherlands and Estonia from an integral perspective. The institutional design framework of Koppenjan and Groenewegen is used to analyse the developments in both countries. The analysis shows that the starting points, cultures, path dependencies and institutional structure result in different governance models for data exchange infrastructures. Estonia has a single – centrally governed – data-exchange infrastructure that is used by public and private parties for all kinds of data exchanges (including citizen-to-business and business-to-business). In contrast, the institutional structure in the Netherlands demands a strict demarcation between public and private infrastructures, resulting in several data exchange infrastructures. While there are examples of sharing infrastructure components across various levels of the Dutch government, public infrastructures cannot be used for business-to-business or citizen-to-business data exchange due to the potential for market distortion by government. Both the centrally governed Estonian model and the decentrally governed Dutch model have pros and cons on multiple levels.Information and Communication Technolog

Origins and development of SWIFT, 1973–2009

Research in this article traces the origins of a not-for-profit financial institution called the Society for Worldwide Interbank Financial Telecommunication (SWIFT). SWIFT is a core part of the financial services infrastructure and is widely regarded as the most secure trusted third party network in the world, serving 200 countries with over 8000 users. The analysis focuses on how the design and current state of SWIFT was influenced by its historical origins. In order to ensure widespread compatibility in a sector experiencing asynchronous technological development, legacy Telex specifications had to be accommodated in SWIFT's design. Over time, what began as a closed ‘society’ founded to reduce errors and increase efficiency in interbank payments grew into an industry cooperative supporting an enthusiastic community of practice and transformed into an unexpected network phenomenon. SWIFT achieved such success that it has been accused of being an installed base stifling innovation. In recent years, SWIFT has had to institute new categories of membership in an effort to counter concerns about its bank-dominated governance and it continues to search for ways to meet the requirements of key constituents in the financial supply chain