Customer perceived value in high growth firms

Scholars have asserted that a key differentiator of high growth firms (HGFs) is their ability to create value for their customers. This paper contributes to the literature by empirically exploring this relationship. Drawing on comparative cohorts of 11 HGFs and 10 non-HGFs in Scotland, this paper finds that HGFs were much more likely than their non-HGF counterparts to be positively influencing customer perceived value, the creation of which is considered to be an important enabler of firm performance and growth. In addition to its empirical contribution to the high growth entrepreneurship literature, this paper raises issues for future research

Crowded out: how crowdsourcing for startups turned into business as usual

Crowdfunding has been hailed by some as the “democratisation of finance”. To many, it is viewed as a key alternative source of finance where we can all get involved in backing new companies through either donations or the purchase of equity. Unfortunately, it hasn’t quite worked out like that.  Access article on The Conversation website: https://theconversation.com/crowded-out-how-crowdsourcing-for-startups-turned-into-business-as-usual-5202

Crowded out: how crowdsourcing for startups turned into business as usual

Crowdfunding has been hailed by some as the “democratisation of finance”. To many, it is viewed as a key alternative source of finance where we can all get involved in backing new companies through either donations or the purchase of equity. Unfortunately, it hasn’t quite worked out like that.  Access article on The Conversation website: https://theconversation.com/crowded-out-how-crowdsourcing-for-startups-turned-into-business-as-usual-5202

The Use of Crowdfunding by Environmental Entrepreneurs: Is it all about cash?

This chapter explores the engagement of environmental ventures in crowdfunding and seeks to address the nested questions of (a) why such ventures choose to engage in crowdfunding and (b) what the unique benefits of crowdfunding are to ventures operating in the renewables space. To address these questions, we draw on a single case study of a French company, tasked with producing renewable energy in the West of France

Entrepreneurial ecosystems and public policy in action : a critique of the latest industrial policy blockbuster

The authors wish to acknowledge the funding received from the University of St Andrews Knowledge Exchange Impact Fund.Efforts to develop entrepreneurial ecosystems (EEs) have proliferated in recent years, marking it out as the latest industrial policy ‘blockbuster’. This paper reports the findings from a comprehensive empirical analysis of policy approaches deployed under this conceptual umbrella, enabling us to posit a basic typology of different EE policy frameworks. The findings suggest the concept is fraught with conceptual ambiguity and is predominantly (and rather crudely) used to promote ‘more’ entrepreneurship. The research suggests the concept is a “messy metaphor” open to wide-ranging misinterpretation and misuse by policy makers. Eradicating network failures, avoiding crude policy isomorphism and tailoring bespoke interventions are suggested policy recommendations.PostprintPeer reviewe

Mergers and Acquisitions, Open Innovation and UK High Growth SMEs

This paper examines the dynamics of entrepreneurial acquisitions undertaken by UK high growth small and medium enterprises (S M E s). While entrepreneurial acquisitions are increasingly deployed by S M E s, little is known about their antecedents, motivational drivers and organisational outcomes. Drawing on detailed case study evidence from Scotland, the key factor found to be driving these acquisitions was the desire to augment and exploit technological complementarities between the acquiring an d acquired firms. Acquisition can therefore be conceptualised as an advanced stage of the outside-in ‘open innovation’ strategies proactively used within these innovative S M E s. Firms executing this strategy typically have an acute propensity for risk , a desire for close customer engagement, effective business models and strong external orientation . The work suggests that greater attention should be paid within M & A theory to the dynamics of these types of smaller scale entrepreneurial acquisitions

An International Benchmarking Analysis of Public Programmes for High-Growth Firms

First paragraph: Scotland's business base, like those of many other European countries, is dominated by micro businesses. Only a small proportion of Scotland's businesses employ more than ten employees and there are few indigenously-owned, larger-scale companies. Indeed, Scotland, in common with the rest of the UK economy, has struggled to grow small businesses into larger businesses of "scale" that can be major contributors to economic growth through their role as large scale employers, large scale exporters, generators of supply chains for other local companies and incubators for new spin-offs (CBI, 2011)

Entrepreneurial Ecosystems: A Critique of the Latest Industrial Policy Blockbuster

Efforts to develop entrepreneurial ecosystems (EEs) have proliferated in recent years making it the latest industrial policy ‘blockbuster’. This paper critiques the concept and reviews its application within public policy. It reports the findings from a comprehensive comparative analysis of policy approaches deployed under this conceptual umbrella. Empirically, the findings suggests it is fraught with conceptual ambiguity and is predominantly (and rather crudely) used to promote ‘more’ entrepreneurship. Genuine systemic policy instruments to aid the functioning of ecosystems are extremely rare. The paper suggests the concept is a ‘chaotic’ one open to wide-ranging misinterpretation and indeed misuse by policy makers

The geography of job creation in high-growth firms : the implications of ‘growing abroad’

The authors wish to thank Scottish Enterprise for funding the research reported in this paper.In recent years there has been an upsurge of interest by policy makers in high growth firms (HGFs). Interest in these dynamic firms has primarily been driven by their prodigious ability to create new employment. Despite this, very little is known about the complex corporate geographies of these firms and their internationalisation processes. Using quantitative and qualitative data, this paper explores this issue by examining Scottish HGFs. HGFs were found to adopt more aggressive forms of international expansion, such as overseas acquisitions, than their non-HGF counterparts. As a result of these complex growth processes, a large proportion of HGF employment growth is generated outside Scotland. The paper concludes that the regional development impact of HGFs for small peripheral economies in the UK is more limited than originally envisaged. The implications of the study for further research and public policy are examined.Publisher PDFPeer reviewe

Places are not like people: the perils of anthropomorphism within entrepreneurial ecosystems research

The concept of entrepreneurial ecosystems (EEs) has quickly established itself as a major focus within regional development research. A key conceptual framing commonly adopted by scholars theorising about the growth and evolutionary dynamics of EEs is via anthropomorphised life-cycle models. In this debate article we offer a critique and argumentation as to why the validity of this approach is spurious and contestable. Arguably, life-cycle based models overly simplify these complex spatial entrepreneurial phenomena and convey the temporal evolution of EEs as a simplistic, linear, deterministic and path dependent process. Despite the seductively simplistic appeal of life-cycle models, places are not like people and the uncritical adoption of such crude anthropomorphic framings potentially weakens this research field, at the same time running the risk of mis-informing policy makers